I can’t get a loan!

I need your help with my former bank.

In 2016, I took a loan with them and then in 2018 I paid it off. So last month, I went to my new bank to ask for a loan. After a week. they called and told me that I have been listed at CRB for bad credit record. Apparently it shows that I am still owing the old bank so I went to them to enquire about the matter. The branch manager told me that they somehow forgot to close the account after I cleared their loan; that’s how my name ended up at CRB. I explained to him that this CRB thing is costing me now because it’s blocking me from taking loans from other banks. The manager promised to help me and assured me that my name at CRB will be cleared within 3 days.

It has been two weeks now, my loan at the new bank is still suspended because the old bank didn’t close that account. Is it possible for you to get hold of them for me please.

Let’s talk about another section of the Consumer Protection Act. Section 14 of the Act says that when “a supplier undertakes to perform any services for or on behalf of a consumer, the consumer has a right to (…) performance of the services in a manner and quality that consumers are reasonably entitled to expect”.

I don’t think that means we can expect perfection. Sometimes bad things happen but I think the law says that if mistakes are made, we have a right to expect them to be fixed. Quickly. Not next week. Not in two weeks. Not when the bank feels like it.

Never forget that banks have invested vast amounts of money (our money, in case you forgot) in technology, staff and training so they make profits as efficiently as possible. There is no reason why they can’t use these systems, processes and people to fix your problem.

Maybe we should remind them that the maximum fine for breaching the Consumer Protection Act is a heavy fine or prison time. Do they really want that?