Standard Bank

Hello Peter Just want to give you an update GORDEN

YOUR EMAIL WAS RECEIVED BUT YOUR CALCULATIONS ARE A JOKE.

KINDLY EXPLAIN TO THE FOLLOWING:

1. YOUR PARAGRAPH 1 Loan Registration Date (03/02/1900 vs. 19/12/2008):

The date of 03/02/1900 is a placeholder error in the system. The correct registration date, as per the bond confirmation forwarded to you, is 19/12/2008.

OUR RESPONSE

That is so convenient to say it is a mistake. No apologies, or what, just ignore it???? That didn’t stop you from calculating costs which are not allowed according to law. Seeing your calculations are so exorbitant, I want a detail layout of this account.

YOUR PARAGRAPH 2

Months in Arrears:

The account reflects 35 months in arrears due to payments not meeting the required instalment amount. This calculation covers arrears accumulated from 19/12/2008 onwards.

OUR RESPONSE So according to your calculations we have not paid any premiums for 35 months (or over 3 years) which is ludicrous to say the least. One can see you have no cooking clue of collections. (so if I calculate the amount of R3 000.00 x 35 months is over R105 000.00 = so we have

given Standard Bank this amount for nothing) plus all the interest at 10.8% = +/- R150 000.00 – Yes this is a total joke. SO you take money because you feel we have not paid the amount for over 2 Years and 11 months. (I want a completed and detailed account from 2008 to date.

1. YOUR PARAGRAPH 3 Outstanding Balance of R1,079,128.51:

The outstanding balance is calculated as follows: a. The principal loan amount. b. Compound interest charged on the account, which has been impacted by periods where payments were not made in full or on time. a. The account’s history of being in and out of legal proceedings due to arrears.

While we acknowledge your payments since May 2023, the instalments are below the required monthly instalment, contributing to the higher balance as they do not cover the arrears or additional interest charged.

OUR RESPONSE A. So you agree on the Bond amount. Well good to know. But that didn’t stop you from adding on extra costs and legal costs which you are not allowed to according the Credit Act,

B. Well compound interest cannot be placed on accounts that are under Debt review. So kindly amend this and want an updated account. YOU CANNOT ASK INTEREST UPON INTEREST (deplume interest is not allowed by the National Credit Act) AND IT MAY NOT EXCEED THE MORTGAGE AMOUNT. SECONDLY, I WANT A COPY OF THE SIGNED AGREEMENT WHERE WE AGREED TO COMPOUND INTEREST.

I want a complete statement from 2008 to date.

Your bank cancelled the debt review, and yet you added all the costs back during the debt review, which according to law you cannot do. Why do people go under debt review so that people can be helped to alleviate their debt, and not to overload their account due to your bank cancelling the debt review???? Yes it shows you people have no idea of what debt review means.

C. The account history has it amended the original defended case number 1885/2022 which we won against YOUR BANK AND YOU WERE TOLD TO PAY OUR CLIENT & ATTORNEY COSTS.

Which if I expect you conveniently added on to get your lost fees and costs back as you were angry and upset for losing the case. SORRY I WILL NOT BE PAYING FOR A CASE WE WON. I want a detailed account of your costs deducted and the correct amended account sent to me. I want a detailed statement of all legal costs implemented, as the fact you don’t provide us with any statements shows us that there is a big problem. So again, you add all costs that you are not allowed to charge, as you were the ones who again charged new costs for the new summons under case for a case that was already opened in 2012. You people think that the clients must pay for your stupidity and for your mistakes. That is why the your outstanding amount is so high under case number case number 1885/2022.

YOUR PARAGRAPH 4

Insurance and Assurance Showing as NIL: The NIL amount indicates that the insurance and assurance components on the account are currently cancelled. While prior charges appeared on your bank statement, they are no longer applicable, as these components have been removed.

SIR, do I look stupid or what. I want an explanation and an update statement from the beginning with all INSURANCE AND ASSURANCE deducted because I will guarantee the balance will not be the amount that you are demanding. THAT IS WHY WE HAVE NEVER RECEIVED MONTHLY STATEMENTS DUE TO ALL THE DISCREPENCIES, AND INTEREST JUST ADDED.

Seeing you said that the Insurance and Assurance has been cancelled since 2008 how is it that we were able to claim from the INSURANCE for more than 3 claims since 2008 to 2023. Hello, I want an explanation to this discrepancy?????? I want a comprehensive and detailed statement of account as to your assumption that the Insurance was cancelled????

1. YOUR PARAGRAPH 5 Bond Term Remaining (48 Months):

The bond was registered in December 2008 for a term of 240 months (20 years). As of now, 192 months (16 years) have elapsed, leaving 48 months (4 years) remaining on the loan term.

OUR RESPONSE

Yes that is correct but with the banks complete ***** up of all transactions from 1900 to date, so no wonder we have only 48 months left, and yet your attorneys informed you that our attorney will continue to defend this matter until it has exhausted all your threats and that you are to accept the R3 000.00 per month as arranged between one of your employees and the attorney, but then your bank doesn’t accept any offers and continue to harass us, and continue to load more cost.

1. YOUR PARAGRAPH 6

The Amortization Balance of R53,346.72 represents the theoretical balance that the account would have reflected had all payments been made in full, on time, and in accordance with the original loan schedule since the inception of the loan. It is systematically calculated under the assumption that no short payments, missed payments, or account restructures (such as respreads) occurred over the loan period.

OUR RESPONSE:

According to your attorney’s email of 2 October 2024 your attorneys informed you not to proceed with a new case – as per your email from them set out below”

 "From: ***

 Sent: Wednesday, October 2, 2024 11:59:31 AM  To: Manganyi, Tintswalo T ; *** ; Nair, Camellia C ; Ntshanga, Live L Cc: ***.  Subject: Re: MR431227  Good day Tintswalo As per your email noted below we confirm the following: Please note that difference in balance & arrears is not material enough to restart legal action. Reinstatement in terms of the NCA only occurs once ALL arrears, legal fees and admin charges has been paid in FULL. With regards to proceeding with the Rule 28 application to amend the summons, we confirm that it is not necessary as we only need your instruction as to whether we must proceed on the current pending action under case number 4985/2012 as there is already monetary judgment granted.

According to your attorneys email of 18 October 2024 they suggested the following:

 THE ATTORNEY ALSO ADVISED THAT HE WE WILL DEFEND THE MATTER AND WILL DRAG IT OUT AS LONG AS POSSIBLE.

Feedback on in Duplum:

The 1st date of default was 2021-01-28 the balance was R557 276 The account will reached Induplum at R1 1114 552 this make 97% LTV We can load the Induplum hold today to prevent 100% Induplum The hold code loaded Complaint:

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Please note that the arrangement referred to above, was during the time the account was under Debt Review, who will elaborate further.

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The garden fee referred to on the statement refers to the valuation done one the property as per court requirement.

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The Insurance and Assurance dispute will need to be referred to the Insurance department who is more suited to provide you with answers regarding these premiums.

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The Letter of Demand issued March 2022 states the Balance as follows:

Conclusion : @Debt Review Complaints kindly assist with providing *****ba with a Debt Review history breakdown. Due to legal action from 2012 being set aside as in 2021 the Bank proceeded afresh; the Bank will not be in possession of the Legal action from 2012 however attached please find Legal Pleadings from 2021.

@Manganyi, Tintswalo T given the clients age and condition of the property, may I suggest we refer this account to the SRS committee (for recoverable-to collect that R3k client can afford to pay). Proceeding with legal action may lead to a reputational risk for the Bank. CLIENTS ATTORNEYS HAVE ALSO INDICATED THEY WILL DELAY THIS MATTER BY DEFENDING UNTIL THEIR IS NO OTHER OPTION, THIS WILL LEAD TO EXCESSIVE LEGAL FEES.

So Gorden I look forward to hearing from you in this regard, that you are withdrawing this matter and your written confirmation that you have instructed your attorneys to stop all further legal actions and that you have instructed them to close this file, and to write off the costs and that we will be waiting for your complete and detailed statements herein.

Yours faithfully

V M & M M RUNDLE