Debtfree Magazine October 2016

NEWS CONTINUED
parliament in running battles with the
police.
DTI & NCR Want More Power
Recently the DTI and NCR made
presentations at Parliament, to the
Portfolio Committee on Trade and
Industry in regard to their desire to get
more power. The DTI would like the
Minister to be able to issue regulations
which offer new debt relief matters
(rather than have them added to the
NCA). The actual measures were not
well enumerated and when asked for
3 examples the answers were vague.
The NCR asked that they be allowed to
investigate whoever (any registrant)
they wish, whenever the want. This
follows after the recent shutting down
of charges they brought against Capitec,
due to the issue of the NCR having
been on a ‘fishing expedition’ rather
than having responded to specific
complaints. That case was thrown out.
The NCR find this to be frustrating and
have asked that they be empowered to
basically replace the NCT in being able
to not only investigate but to punish
and issue large fines. This was naturally
a big slap in the face of the NCT, who
the NCR essentially suggested become
an appeals body for any fines they issue.
Recently the two parties have come
under increasing pressure at parliament
about the backlog in any reckless credit
investigations. The suggestion was
not well met by those concerned that
this would give the NCR carte blanche
to investigate and fine whomever
they wished without a due process of
hearings.
Are you SA’s Favourite?
Do your clients love you? Are you giving
them excellent service? These questions
will soon be answered as Debtfree will
be running a Peoples Choice public
voting process online as the year nears
it’s end. Consumers will be able to vote
for their favourite Debt Counsellor,
their best Credit Provider and preferred
PDA. Details will appear on the www.
debtfreedigi.co.za website in the near
future and companies will be able to
invite their clients to cast votes for them.
Credit Providers Can’t
Stand New Affordability
Assessment Requirements
Truworths, Mr Price and TFG all feel that
the regulatory changes are killing their
businesses and are now taking legal
action against the NCR and DTI to try
get the new regulations changed or
thrown out. The regulations demand
that credit providers ask for 3 months
salary slips/proof. Truworths who