Debtfree DIGI Magazine Aug 2016

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NEWS CONTINUED NCR DEBT COUNSELLORS REPORT TO THE NCR Every 3 months Debt Counsellors need to submit reports to the NCR about how many clients they have taken on, what type of work these consumers do and progress on their current clients cases. The NCR use these stats to track progress in the industry and research how consumers are coping with debt. Debt Counsellors handed in their most recent reports to the NCR during <strong>Aug</strong>ust. NEW AFRICAN BANK DEBT REVIEW HEAD Credit Provider African Bank have been going through a lot of changes in the wake of their share price collapse. The process of rebuilding and restructuring continues months and months later as the giant tries to regain it’s feet. A recent change has effected the African Bank department which handles debt review matters (Alternative Collections). Ms Carina Best has bee appointed the new Head of Alternative Collections. Ms Best has been in the industry for a long time and has already taken up the reigns for several weeks now. NCR WEBSITE WOES Visitors to the National Credit Regulators website were greeted with a message saying that the site was shut. The message show was the one you will often see when someone has forgotten to pay for their site hosting. The site closure follows after another recent issue on the site where web browsers warned of dangerous files on the site wanting to infect visitors computers and spy on them. Fortunately after a day or two the site got back up and is now running as normal. DC ANNUAL FEES While Debt Counsellors fees have not changed over many years there have recently been some interesting changes to the fees Debt Counsellors pay both the NCT (for applications which doubled) and the NCR (for annual renewal). While in the past Debt Counsellors only paid a paltry R100 the DTI recently published a massive jump in annual renewal fees from R100 up to R500 Plus a branch fee. The branch fee is more like a office fee and costs an additional R250 for each office (or perhaps branch) the Debt Counsellor has. This now means that most small Debt Counsellors will pay R750 while Debt Counsellors who operate larger firms (or who work in larger firms) may have to pay significantly higher amounts. Many Debt Counsellors who recently paid their renewal fee of R100 before the changes came into effect wondered if they would have to pay more or pay again when the new global renewal date rolled around. They were relieved to hear that this was not the case and that they would only pay again when the renewal date rolled around again in 2017. For daily debt counselling news in 3 minutes or less visit www.debtfreedigi.co.za
UNDERSTANDING INDUSTRY JARGON COURT APPLICATION Your Debt Counsellor will turn their proposal about how they think you should repay your debt each month into a draft court order and apply to your local Magistrates Court to turn the plan into a legally binding rearrangement. The Debt Counsellor is the applicant (person who submits the papers) and you (the consumer) along with the credit providers are known as the respondents.
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Page 7 and 8: CONTENTS NEWS CALL CENTRE DEBT REVI
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Page 26 and 27: Recent Interesting Court Cases NEDB
Page 28 and 29: BUILDING A SOLID DEBT COUNSELLING P
Page 30 and 31: UNDERSTANDING INDUSTRY JARGON CONFI
Page 32 and 33: DCASA CONFERENCE 2016 Each year the
Page 34 and 35: Ms. Mamello Matikinca (FNB) Ms. Mam
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Page 38 and 39: IN A NUTSHELL A CRY FOR HELP! Peopl
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Page 43 and 44: UNDERSTANDING INDUSTRY JARGON COURT
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Page 49 and 50: AUGUST NEWSLETTER NCR RESPONSE The
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CONSUMER & Solution Centre NCRDC245
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Telephone: 031 251 4151 Fax: 031 25
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Debtfree DIGI Magazine Aug 2016

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