Debtfree DIGI July 2016

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IN A NUTSHELL A great vision is like water for a parched man Extraordinary people and organisations dream boldly and set visions that are inspiring, create value in this world and guide the future. Malaysian-born Vishen Lakhiani in his book ‘The code of the extraordinary mind,’ talks about “dreams, visions… as essential to an extraordinary life”. They provide forward momentum. “When life doesn’t hold meaning for us, it’s like living in the desert, parched for water.”
The South African credit market needs individuals and organisations that can pioneer a new way of thinking, a new vision for the future. According to the latest Credit Bureau report, 60% of the adult population in South Africa is using loans to finance their lifestyle. Almost 50% (10.5 million) of these individuals are at least three months in arrears with their debt repayments. The financial wellbeing of these South Africans is precarious. The debt review industry needs a shake-up and a new way of thinking, similar to what Discovery did in the Health Insurance space. A paper by Anna Orthofer on wealth inequality shows that 10 percent of the South African population own at least 90-95 percent of all wealth. The Debt Review industry deals with people on the opposite end of this wealth spectrum. And the few that have declared themselves overindebted are the tip of the 10.5 million iceberg. The exciting opportunity lies in working with people to move them from being cash flow negative to net worth positive. This was the key message delivered by Clive Pintusewitz, CEO of the DCM Group at the recent <strong>2016</strong> Debt Review Industry Awards in Cape Town. According to Clive, the focus needs to change from focusing on just managing debt to building assets, in addition to securing income and cash flow. In this world, Debt Counsellors have the opportunity to grow into financial coaches and planners making a valuable contribution to the net worth of ordinary South African families. The DCM Group is working on the bold dream of changing the approach to not just debt rehabilitation but the ongoing journey of what happens next. Watch this space... * Source: Source: Anna Orthofer. <strong>2016</strong>. “Wealth inequality in South Africa: Insights from wealth surveys and tax returns data,” University of Stellenbosch. Unpublished. IN A NUTSHELL is brought you by the DCM Business Partnership Programme, designed to support debt counsellors and consumers during the debt review process, in collaboration with the National Payment Distribution Agency (NPDA). For help, contact the NPDA on 0861 628 628. If you have suggestions for topics that you would like covered in future, please email info@dcmgroup.co.za Debt Review Awards Winner 2014 and 2015: NPDA: Payment Distribution; Client & Customer Service; Industry Support & Engagement Care Premier: Debt Counselling Software
Page 1 and 2: South Africa’s debt counselling m
Page 3 and 4: henpda.co.za Don’t expect to hear
Page 5 and 6: CONTENTS NEWS DEBT REVIEW AWARDS Ub
Page 7 and 8: We are very proud of the achievemen
Page 9 and 10: INDUSTRY CONSUMER NEWS FLASH For da
Page 11 and 12: Switch to easy • Individual, dedi
Page 13: NEWS CONTINUED 20 Years of Insuranc
Page 16 and 17: RED CARPET It is true that Debt Cou
Page 18 and 19: Next Ms. Kedilatile Lagodi of the N
Page 20 and 21: The guests then had the opportunity
Page 22 and 23: Consumer Friend Scoop Two Awards Th
Page 24 and 25: The Payment Distribution categories
Page 26 and 27: Annual Debt R For more red carp
Page 28 and 29: Reckless Reckless Lending Lending A
Page 31 and 32: LIVIng on less Ubisoft Give Away FR
Page 33 and 34: It goes without saying then that lo
Page 35 and 36: All professionals have professional
Page 37 and 38: Association of South Africa. We run
Page 39 and 40: Alan Manshon (The Money Clinic) Dis
Page 41 and 42: Maximus, the leading debt counselli
Page 43: South Africa’s leading Debt Couns
Page 48 and 49: Debt Counsellors Associations Annou
Page 50 and 51: click the c Service D Debt Counsell
Page 52 and 53: Debt CounsellORS Gauteng KwaZulu- N
Page 54 and 55: National Debt Advisors Fighting For
Page 64 and 65: WEBSITE | www.debt-therapy.co.za de
Page 66 and 67: Tel: 0861 123 644 Email: info@debtr
Page 68 and 69: Support services Akani Solutions In
Page 70 and 71: LEGAL Liddles & Associates “It al
Page 72 and 73: PAYMENT DISTRIBUTION AGENCIES DC Pa
Page 74 and 75: CAPITEC CONTACT DETAILS Form 17’s
Page 76: ABSA TASK SPECIFIC DEBT ABSA TASK S
Page 79: AFRICAN BANK CONTACT DETAILS 011 25

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