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Answer for ABSA BANK – My balance is growing inspite of payments being made.

Hi there

Thank you for the question. Let me first asure you there is not conspiracy between your debt counsellor and ABSA. The balance differences is a real issue that the industry is trying to address through various forums. It is cause by very practical problems that we also feel is not being addressed quick enough by the banks.
What happens with regards to your personal statement being different from the statement provided to the debt counsellor is the fact that ABSA passes your account to their debt review department, who is then supposed to talk to your debt counsellor. In the meantime, they keep the account active on the other side and false data is recorded. They are not able to adjust interest rates etc on their front end system, they can only do that in their debt review department. ABSA is not supposed to send you personal statements anymore, and they will always reflect the incorrect balance.

Then there is the matter of interest rate calculations. ABSA is within their right to run interest rates at the original percentage until such time that they are ordered by the court to make adjustments. Every bank has a different opinion on how this should be implemented, and that is what poses the biggest challenge.

Your debt counsellor can provide you with the most accurate statements from the PDA. he can also ask for statements directly from the credit provider.

If you feel that the credit provider has not been lawful in their dealings you can always lodge a complaint with the National Credit Regulator ( or the Credit ombud ( They will investigate and once they have made a finding rule that the bank correct all errors on your account.

Please let me know should you require further assistance.

Kind Regards