Debtfree Magazine June 2018

NEWS
NCR TO TRY REGISTER
40 000 ILLEGAL
CREDIT PROVIDERS
DEBT REVIEW
AWARDS
The 5th Annual Debt Review
Awards Gala was held in Cape
Town this month. Guests from
government, the courts, PDAs,
credit providers, the public and
Debt Counselling firms across
the country attended. Guests
were alternatively entertained
and abused by funny host and
demotivational speaker Mr. Rob
Van Vuuren. The results of the
annual industry peer review
were announced and Awards
and certificates were handed
out. The gala also featured
presentations and speeches,
as well as, videos from various
parties in the industry.
A recent Report commissioned
by Wonga on illegal credit
providers estimates that one
household out of every 100
in the country is involved in
illegal lending. It is estimated
that there are around 40 000
unregistered credit providers
operating in SA, compared to
the 6000 currently registered
ones. If a person or firm want
to lend money (and charge
fees) then they must be
registered with the NCR. Those
who do not face possible fines
or criminal charges. At present
the NCR is engaged in a
campaign to travel the country
and get these loan sharks and
mashonisas to register with
them.