Client breaks through blacklisting hell to financial health

2010-04-03 11:45

A WESTERN Cape reader who ­complained about unfair blacklisting at

a credit bureau can now obtain ­credit on a clean slate.

African Bank confirmed that the listing against Funyanwa Gade has

been removed and an ecstatic Gade contacted Hotline this week to ­express her

gratitude.

“This is one legal issue African Bank seemed reluctant to resolve.

It is a good thing I decided to contact Hotline when I did.

“Otherwise I would probably still be fighting a losing battle with

­African Bank. Hotline’s efforts are really appreciated,” said Gade.

Her wrangle with the credit provider dates back to 2004 when she

applied for an administration order.

Although the order was later rescinded, African Bank failed to

­update Gade’s credit profile and this led to Gade struggling to obtain credit

from service providers.

She admitted that at one stage, she struggled to make ­repayments

to her creditors. A friend advised her to apply for ­administration.

In terms of the order, administrators deducted a portion of money

from her salary and paid it over to creditors.

At the time she owed African Bank R6 702 and four years later, Gade

discovered that her debts were almost settled.

She decided to cancel the ­administration order and added that the

terms and conditions of the order were not properly explained to her.

“I was just happy to learn that the debt had been reduced.

“I cancelled the order and continued to pay the creditors

directly.

“However, I failed to verify with all of them whether the debts had

been settled.

“Suddenly, African Bank started to make monthly deductions of

­between R276 and R300 from my bank account.

“I also learnt about the listing and all hell broke lose,” said

Gade.

She also found out from the courts that an order informing

creditors about the rescission of the order had been issued but African Bank

continued to make deductions, she said.

Hotline referred the complaint to African Bank and Marilyn Budow, a

consumer advocate, agreed to investigate the complaint.

Budow said that Gade’s listing had already been removed when

Hotline sent through the enquiry.

She said that the balance paid to African Bank at the time of the

­application for the administration order was R6 702 excluding interest

charged.

The administrator paid a total of R2 655 and by the time the

administration was rescinded a considerable balance remained outstanding.

Budow said African Bank has decided to cancel all the interest

­accrued from November 2005. At present Gade owes the bank R3 000.

“Gade will continue to pay off the balance until the debt is

settled in full,” said Budow.

Gade agreed to settle the account.

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