Nedbank ********* business

Last year, my wife and I bought our first home. We (and our 3 kids) were very excited, yet very cautious. As first time home owners - we were clueless and sort the help of Nedbank Bellville, The Bridge Centre, 304 Durban Road. We were assigned to Madelaine Ackerman and we were assured that we were in 'good hands'. Madelaine opened up a few accounts for us (private banking, American Express, etc) and -in retrospect, she was much more interested in her commission than actual help. I don't work in finance, and I must admit, I do not know everything there is to know about how it works. Madelaine assured me she'd take care of me - and we were so happy about this promise.

She comp**** a credit report and gave me several unfilled documents to sign - stating she would complete them. We realised afterward that the homeloan excluded fees for the Transfer costs and Madelaine suggested a personal loan. Again, she did the credit and affordability assessment (signed incomplete docs) and when I objected, she stated that within 3 months of acquiring the homeloan, we are able to take out an extension which would cover the 5 year R72000 personal loan at 20% interest. She said for 3 months, we must just tighten our belts and we'd be sorted. The personal loan was not initially approved due to us failing the affordability assessment, but my private bank made a few calls and the next day, it was approved. Halfway through the 3-month period, I contacted her - it was much more financial strain than we could bare. She suggested an overdraft on my account, again mentioning that the 3 month period is nearly over. She contacted internal departments and I was approved of a R13000 overdraft service.

After the 3 month period, I received an email stating Madelaine is no longer with the department and works elsewhere. Theresa Cooper was assigned as my new personal banker. We were informed by Theresa that there was no 3 month extension or any offering of the sort. Theresa ended up being very very unhelpful - with no solution in sight. We were on our own - deep in debt and we were told to figure it out ourselves.

I've sent emails explaining our situation and we've called them for several times: almost a year later - and after borrowing money to feed our kids, and pay bills - complete silence.

We receive no communication from Nedbank other than Sales offerings and ads. We are now applying for debt consolidation - hoping that there'd at least be a R2000 for food at the end of this month. Nedbank drastically cut my overdraft today without my knowledge when they heard of what I was doing - again, I need to sell things to make ends meet. I went to the shop to buy milk and bread only to have my card declined at the tillpoint!

This has been such a terrible terrible ordeal. The Nedbank slogan states that "there is no right way to do the wrong thing" ...but it appears to us, that Mike Brown has no idea of the damage his branches are capable of doing.