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

Questions & AnswersCategory: Debt ReviewABSA BANK – My balance is growing inspite of payments being made.
Anonymous asked 5 years ago

I have been under Debt Review since 2009. The Creditors were informed and the court order was issued in March 2010. ABSA Bank failed to meet the court order issued interest rate for months and when they did, they also restructured the Debt. I have been querying the balance that has increased at least 3 times despite my monthly payments being made as per the court order.
I requested a statement of all the payments I had made since 2010 and the branch said I would have to pay R32 per statement, per month for the past 4 years. I did not do this as it was quite a financial lay out. I printed out all the statements I had received where the balance had increased and sent these to my Debt Counsellor. ABSA in turn sent them a statement showing the balances; I was quite surprised to see that what ABSA said I owed on their statements to me and what was owing on ABSA’s statements to them were different.
I highlighted this to the Debt Counsellor and I received a letter today stating that ABSA say that the balance difference in 2010 would be different as 5 months had passed from application to court order. This does not tell me why the balance has increased more than once. My questions are:
How can a statement that ABSA sends to me each month, be different to what they send the Debt Counsellor?
ABSA say that the Debt Counsellor has the responsibility to ensure the correct balance is sent for the court order. I informed them of the interest rate issues and the balance issues but I did not get assistance. They said that ABSA was being very difficult with all their clients. What action should I be taking with them as none of the other credit providers have done what ABSA has done.
My latest statement shows that I have paid off close to R5000 since 2010, With a monthly payment of R592 with an interest rate of 12%, what should my balance be? Bearing in mind that the initial debt on the court order SIGNED document was just under R36000. My latest statement shows I owe just over R33000.
I have no problem paying my Debt but I am disgusted by ABSA’s absolute disregard of the court order and the way that they assume all their clients are idiots who wont take matters further.
I would appreciate feedback as soon as possible as I feel I need to be taking some sort of legal action against either the Debt Counsellor or ABSA. Something is not adding up and I feel that I am part of some strange activity going on between the Debt Counsellor and ABSA.
Kind regards