Debtfree DIGI Magazine Aug 2016

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PROFESSIONAL DEBT COUNSELLING ATTORNEYS TEL: 021 872 1968 11 MARKET STREET, PAARL www.steyncoetzee.co.za
INDUSTRY CONSUMER NEWS FLASH For daily debt counselling news in 3 minutes or less visit www.debtfreedigi.co.za ALLPRODC BOYCOTT CIF Debt Counsellor Association: The Alliance of Professional Debt Counsellors (AllProDC) recently had a bad experience when at the Credit Industry Forum (CIF). Feeling that their voice is not only not being heard but purposely ignored they have launched a boycott of the CIF process. This means that while the CIF want to represent all parties in the industry at present his is not possible. In the past the CIF were determined to only make recommendations to the National Credit Regulator (NCR) where all parties agreed 100% they have hit a brick wall on many issues such as Section 103(5) and now end balance differences. AllProDC submitted an open letter to the NCR with their suggestions (which they wanted to raise at the CIF) in regard to process enhancements of the debt review process and concerns they have over the NCR’s non binding opinions on the debt review process many of which originated at CIF. NCR REPLY TO ALLPRODC The National Credit Regulator (NCR) has sent a formal reply to the Alliance of Professional Debt Counsellors (AllProDC) in regard to their recent open letter of complaint and boycott of the Credit Industry Forum. In the short reply the NCR denied all the accusations made and have invited AllProDC to proceed with legal action if they wish. before that time. Where creditors have started incorrectly adding this fee the NCR warn they will take action. SA TAXI REFUSE EMAIL SERVICE All debt review matters are submitted to court for a Magistrate to consider the proposals made and to declare the consumer over indebted and restructure their debt. This requires that all parties be notified of the court action, receive some documents and get a copy of the court order. While most Credit Providers have agreed in writing to notification via email SA Taxi (a credit provider with a checked history with debt review) has let it be known that they do not want to receive emails about such matters. They would prefer service by sheriff (which costs the consumer more money and takes longer). Fortunately other more affordable options do exist (which have been legally established and ratified by the highest courts in the country) such as service by registered mail. NEDBANK HOST KZN DCS Nedbank’s Debt Review and recovery Services Department have been meeting with Debt Counsellors across the country in what they call a series of Candid Conversations, Sessions where they can get to know Debt Counsellors better and discuss common issues being
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Debtfree DIGI Magazine Aug 2016

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