Standard Bank continues to persecute their clients unjustly

To Standard Bank South Africa

In February 2022 my then partner and I purchased a home jointly for an amount of R 2.1 million. As a result of the massive interest rate hikes within an 18 month period thereafter we found ourselves completely cash strapped where even buying food for my three children was a challenge. As the pressure then became too much, my partner abandoned us and left without any word. I was then left with my three children, destitute. My only option was to sell this house.

Unfortunately due to the severe economic position everyone was in, I could not sell the house for which it was purchased. The best price after four months on the market, was an offer of R1.7 million was received which we had to accept as the bond was still being debited. I would like to state that I never defaulted on my bond payments and was paid every month until the house was transferred.

During the sale process we/I was advised that there would be a shortfall which would need to be settled. An Acknowledgment of Debit was signed by both parties (Myself and my Then Partner) agreeing that the shortfall would be converted to a loan of which an approximate amount of R4000/month for the next ten years needs to be paid. This was agreed and signed.

The property was then transferred on the 9 July 2024 and there was a balance of approximately R 442000 still in the homeloan account. On the 16 July I received a mere sms from Standard bank that the homeloan account has been cancelled. This was true as the amount of R 442 000 which was there then no longer existed and this amount was not even reflected or converted into a loan account which we were advised would happen. Since then I have received no communication from standard bank nor any loan account generated on which I agreed I will make payment towards.

I had then assumed that I no longer owed any money. I allowed two months to past and still no debit or any loan account was created nor any communication from Standard Bank. I had then assumed that I could now provide my children with a home as I am a single mother. I was then devasted when I found a place to stay that there is a default on my name for the amount of approximately R442 000. I tried to call Standard Bank and I was transferred from pillar to post with the result that I must email, *** for assistance. I did this on Friday, 6 Sept, to only receive an automated response with to date no reply. I am deeply appalled at this disregard for their loyal clients, of which I have been with them for more than twenty years. I have taken out numerous loans, from vehicles to houses with them and I have never defaulted. I had agreed to commit to pay this back, but to who and how I have been given no information. Yet they are pursing in converting this default into a possible judgement without my knowledge or allowing me to pay what I said what I will commit to………ABSOLUTELY DISGUSTED. This default listing needs to be removed, and a manager needs to contact me to get this resolved or else I will have no other option but to report this to the ombudsman and CFDC.