Debtfree Magazine October 2016

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credit while still owing them a few rand. It seems that this is also the view of many at the National Credit Regulator’s Credit Industry Forum. CIF have been discussing this topic for a really long time with little agreement on how to deal with the matter. Suggestions have been made that pleased few people. It seems though that the credit bureaus feel that they must ask for these paid up letters. Many Debt Counsellors have already made it a long habit to have all the paid up letters from credit providers and to send these along when contacting the credit bureaus. So, it seems like a non issue but some Debt Counsellors feel strongly that they are being disrespected and this action is actually illegal. The National Credit Act does not allow for demanding any such “proof” and does not require a Debt Counsellor to send such or even permit a Credit Bureau to deny such a request (as they have been doing). The current course of dealing with matters is thus not legal even if most Debt Counsellors simply put up with the small amount of extra work required. Some Debt Counsellors say this approach to clearance certificates is totally unfair and discriminatory since the credit bureaus do not demand a copy of the signed application when the consumer first applies for credit from a credit provider. They simply take the credit providers word for it that the debt actually exists. If the consumer later queries the listing they may then do so but not automatically for every account when they are first listed. Could it be that the credit bureaus feel that the +- 700 practicing NCR registered Debt Counsellors are not as trustworthy as credit providers are? If you are a consumer waiting for your clearance certificate this may be the hold up. Consumers should be aware that though the PDA statement may show all the debts are repaid, the Debt Counsellor may be dealing with the End Balance differences and they may end up paying for an extra month or two to make the credit providers happy.
Over Indebted If you have debt but can afford to cover your monthly living costs and still pay everyone what they are asking for you are doing well. If you have too many debts and can’t afford to pay them and still cover all your necessary monthly living costs then you are over indebted. Over indebted people can qualify for debt review.
Page 1 and 2: South Africa’s debt counselling m
Page 3: henpda.co.za Don’t expect to hear
Page 6 and 7: EDITOR’S NOTE As the last few mon
Page 8 and 9: Missing A Debt Review Repayment It
Page 10 and 11: Reasons Why Some Miss Payments Befo
Page 12 and 13: Miss A Payment And Ruin Everything!
Page 14 and 15: Credit ProteCtion - debt review SuR
Page 16 and 17: “ It always seems impossible unti
Page 18 and 19: NEWS CONTINUED parliament in runnin
Page 20 and 21: eport that few people are signing u
Page 22 and 23: Jili v FirstRand Bank Ltd the Supre
Page 24 and 25: Do Credit Bureaus Discriminate Agai
Page 28 and 29: Debt Review A person who is struggl
Page 30 and 31: Debt Restructuring If an over indeb
Page 32 and 33: TIME IS MONEY There is no doubt tha
Page 34 and 35: IN A NUTSHELL Plugging holes or add
Page 36: to attract new business. The proble
Page 39 and 40: OCTOBER NEWSLETTER Amending The Act
Page 41 and 42: Consumers can only be disappointed
Page 43 and 44: DEBT COUNSELLING COMMUNITY SUPPORT
Page 45 and 46: irectory aTEGORY DO YOU WANT TO LIS
Page 47 and 48: Limpopo North West Eastern CapE Mpu
Page 49 and 50: Specialist Debt Management Centre B
Page 51 and 52: National Debt Advisors Fighting For
Page 57 and 58: Don’t work with an out dated vers
Page 59 and 60: CONSUMER & Solution Centre NCRDC245
Page 61 and 62: Telephone: 031 251 4151 Fax: 031 25
Page 63 and 64: COMING SOON TRAINING COMING SOON FI
Page 65 and 66: Your Debt Counselling Attorneys Joh
Page 67 and 68: SOFTWARE PROVIDERS
Page 69 and 70: Debt Review DepartmentEmail Address
Page 72 and 73: DC Query Process DC Query Process w

Debtfree Magazine October 2016

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