South Africa Law
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1. I am not up to date with the repayments on the account, as Nedband did not notify me in August to start paying as per the insurance.
2. It ended Nov 2011.
3. The repayment amount when I was under debtreview was stipulated as a lesser amount.
Thank you for the response, I also understand and concur with the content of your response. I indeed have a Clearance Certificate for the debt review.
Could you kindly indicate what is the next step that I should take to clear my name with ITC and have the Bank to take responsibility.
As the information has already been lodged at the bureaus and National Credit Register, the NCA states that you can challenge the information at either the National Credit Regulator or credit bureau, ie ITC or where you received the credit report. I would suggest challenging at the credit bureau as the NCR is under pressure. Once the bureau receives a challenge and no credible substantiation from the bank, then the bureau (ITC) has to remove the data or be guilty of a criminal offence.
If the bank provides evidence to the bureau to support the report (which they likely will do ), then you will be provided with a copy of such evidence and will have 20 working days to object to the evidence and apply to the NCR to have the whole matter investigated. If you use the bank statement of the account to motivate your initial challenge to the bureau, there is a possibility of short-cutting the whole process as it would be difficult for the bank to present the same information in their own defence.
Not an optimal situation I am in no doubt, particularly when applying for work and where time is of the essence. Claim costs and also a letter of apology from the bank to submit to prospective employers even if you did not get the job as a negative credit rating could have influenced your prospects and perceptions of your character.
I trust that the clarification provided is helpful, I am always happy to entertain any further questions to ensure you receive the answer you require. If you are satisfied, kindly rate or accept my answer so that I may be given credit for the assistance provided to you.All the best,BC
I will be approaching the ITC and will lodge the complaint. Is it possible to contact you in case I do not get satisfactory results regarding the matter with ITC or for any future outcome relating to the case.
You are most welcome to contact me on this thread.
All the best.
I have lodged the dispute with Trans Uninion and is awaiting the outcome in 21 days, will keep you posted.
Thank you and regards.
It would be interesting to see if the bank returns the same statement in their defence.
Sadly banks do not easily admit to their errors and it takes action as you are conducting in order for them to do right by their customers.
All the best,