Reconstruction of Credit Agreement & Incorrect Balance – MBD / Standard Bank

I am lodging this complaint due to serious concerns about how my Standard Bank credit card account has been handled by MBD after it was ceded to them.According to the cession letter provided to me, MBD purchased this account from Standard Bank.

However, the balance reflected in that letter does not match the capital amount or the original credit limit. After reviewing MBD’s breakdown, it is clear that the capital amount has been reconstructed, and the figures no longer align with the original agreement I signed with Standard Bank.

My original credit agreement had an interest rate of 12.90% per year, and I am charged extra interest , without any explanation or my consent. Under the National Credit Act, a debt collector may not change the terms of a credit agreement or increase the interest rate unless the consumer agrees in writing.I never agreed to any restructuring.

In addition, MBD has added legal fees, communication fees, and other charges that I dispute. A large portion of the communication was me repeatedly requesting the cession letter documentation that should have been provided upfront. I have made multiple calls and sent several emails requesting clarity, but I have received no assistance.