Nedbank *****ed my credit score & credibility to buy a home / Plain Negligence!

Thursday, 07 February 2019 9:06 AM To: ********** Subject: Account Payments not being updated on the credit bureaus / ACC: ********** ********** 81 Good day,

Please note that I've been having a problem with Nedbank not having updated my payment profile correctly at the credit bureaus for December and January. I have contacted Nedbank on several occasions whereby each time the consultant I've spoken to just puts me through to another consultant where after I have to explain the entire situation over and over again with no solution to rectify the problem.

When we completed the credit card application at the branch, it was agreed that a debit order will be loaded in order for the monthly amounts due to be debited directly from my bank account, however, this never happened and therefore caused me to do EFT payments after noticing that the debit order is not going off on my bank account.

I made payments for bough December and January where after Nedbank then indicated on the credit bureaus that my account is 30 days in arrears, this is in fact incorrect seeming an EFT payment was made and also confirmed by all seven Nedbank consultants that I have spoken to during the time when trying to have this issue resolved.

On the 16th of January I logged yet another query with Ref: ********** 1 and again asked for this matter to be resolved and having my payment profile updated at the credit bureaus and were promised that this matter will be corrected due to this being an error from Nedbank's side and not my fault.

We are now on the 7th of February whereby my payment profile has still not yet been updated and resulted in my home loan application being declined as a result of Nedbank indicating that my account is 30 days in arrears, this is rather sad and I strongly feel that Nedbank has done me over with empty promises and as mentioned caused my home loan application to be declined due to negligent personnel from Nedbank who failed to do their work properly and also by failing to keep to their promises.

Why am I now being penalized due to Nedbank having caused this problem in the first place, I'm trying to purchase a house but cannot do so up until my payment profile have been corrected and indicating up to date on the credit bureaus.

Firstly, Nedbank neglected to load the debit order on my bank account for the monthly payments to go off as agreed during the time my credit card application was completed, all documentation was signed in full! Secondly, why is it that my payment profile was listed as 30 days in arrears when my account payments was and still is up to date?

I'm NOT willing to wait yet another 21 working days for this to be updated as this is a mistake made by Nedbank, I will also not query this issue at the credit bureaus myself as then I will need to wait 21 working days for something that is and never were my mistake at all in the first place.

I'm currently filling in another home loan application which I will submit early tomorrow morning and therefore urge Nedbank to correct this issue before then so my application will not be declined again due to my payment profile indicating faulty information.

You are more than welcome to call me should you need any further information if the above explained is unclear.

ACC: ********** ********** 81

FEEDBACK FROM NEDBANK;

Good day Mr Immelman

Trust you are well

Please find attached a letter from the credit card department confirming the account is up to date and that they have instructed the bureaus to update accordingly.

I agree with you that having your accounts at one institution will be convenient for you and it is ultimately what we also want for our clients.

If you are in agreement I can forward your contact details to our Sales Team within our department and they will assist with your home loan application. We can however not gaurentee the application will be approved as it will be subject to credit approval and we have to abide by the rules and regulations of the NCA. They will however try their level best to obtain a favorable outcome for you

Trust you find the above in order, please confirm if I can forward you details to the Sales team.

REPLY BACK FROM HOME LOAN APPLICATION AGENCY;

Dear Riaan Immelman

Thank you for allowing ooba the opportunity to process your Pre-Qualification.

We are unable to assist you with a Pre-Qualification at this stage, due to the following reasons:

Attached please find your credit report / which indicates your Nedbank account in arrears

Regrettably, your Experian credit score is below our cut-off your Experian credit report indicates late or missed payments and that one or more of your accounts has been in arrears for more than 3 months and multiple credit applications. which may result in lenders rejecting your application for home loan finance .

Below are recommendations to guide you over a suggested 12/24 month period:

In order to reflect a clear credit history, accounts must be paid to date or settled in full .As the banks consider a score and 24 month credit payment profile history, once all accounts have been brought up to date, you would need to wait a period of 12/ 24 months before requesting a Pre-qualification certificate to allow for the past payment history not to be a consideration in the assessment and allow time for the score to increase. We advise the minimal use of personal loans during this time, as this product impacts negatively on your credit score.

Should have any queries, please do not hesitate to contact your consultant

With regards to any queries or disputes you have regarding your credit report, please contact Experian at ***or **********

`MY EMAIL REPLY TO NEDBANK & THE HOME LOAN AGENCY;

Good day,

Thank you for the feedback, however, your information provided seems to be incorrect.

I have no accounts in arrears, all my accounts are up to date as this I monitor closely on a daily basis via Transunion and Experian. (I'm paying an annual fee to view my credit status at the bureaus anytime I want) There are no accounts indicating 3 months in arrears, please point out the ones in arrears as per your below emailed allegation?

Nedbank made a mistake on their side by not updating my payment profile properly and therefore indicated that my account was 30 days in arrears where in fact it was not, kindly see attached letter from Nedbank & credit report from Transunion.

My current score is 596 and this is due to a critical mistake made by Nedbank, I have cc'd in Marius from Nedbank so they can perhaps shed some light on the subject and also see exactly what repercussions their little mistake has cost me! (Marius, this is not directed at you in person but to Nedbank itself)

The update was made on the credit bureaus (Transunion & Experian as requested but still failed to change the 30 days in arrears to up to date for December on ALL credit bureaus, this is still affecting my credibility as what can be seen from the email received below regarding my home loan application.

I would like to see and hear how Nedbank is going to assist from their side seeming this was an error from their side and not from me, I've been paying all my debt on time every month and only to see that Nedbank has destroyed my chases of obtaining a home loan.

Thank you Nedbank!

You can clearly still see that December indicates a 30 days in arrears default!

REPLY FROM NEDBANK;

Dear Mr Immelman

Thank you for the below email, we sincerely apologies for the inconvenience and regret you are still experiencing further delays.

As mentioned in our initial discussion I can request for Card to update your ITC which as per feedback and the letter received has been done, instruction has been sent. We unfortunately do not have control on how long it takes Bureaus to update their system. I have however escalated the matter back to card to see if there is anything they can do to expedite the matter. Usually in cases where the bureaus have not yet been updated clients are able to provide a letter provided by the bank.

I will advise as soon as feedback is received

Kind Regards

From myself to Nedbank,

It is not my responsibility nor fault that this problem happened in the first place so why should I be the one suffering the repercussions as a result of negligence from Nedbank's side?

It's rather easy to say we / Nedbank does not have control over how long the credit bureaus takes to update the info etc. with that said, again, this is your mistake / Nedbank and should therefore take ownership of your wrong doings at all costs. Firstly your mistake hugely influenced my credit score and secondly your mistake caused my home loan application to be declined!

HOW... are you / Nedbank going to correct this????