Termination Spree by banks

Many DC’s are once again reporting an increase in pre termination notices and 86(10) s. Most of these DC’s cite ABSA, Std and Nedbank as been the creditors involved.

In an Email from Nedbank to a DC in regard to one regular paying consumer who received a pre termination notice the bank replied that the notice was only sent to encourage the consumer to keep up payments. Not by mistake or as a computer glitch etc.

The DC had to go to a lot of effort and spend time sending and receiving payment proofs to the bank from the PDA etc. Once again an example of a hard working DC grafting in the background for the consumer seemingly due to mistakes on the bank’s side.

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