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Debtfree Magazine September 2018

SA's Free Debt Counselling and Debt Review industry magazine. What do you do if someone says they are coming to take your car? Why did the NCR remove the incentive to investigate reckless credit? Industry news and more.

SA's Free Debt Counselling and Debt Review industry magazine. What do you do if someone says they are coming to take your car? Why did the NCR remove the incentive to investigate reckless credit? Industry news and more.

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The timing of the release was not particularly auspicious when it did happen,<br />

as it came shortly after something of a TV scandal about a particular<br />

roleplayer in the industry and the NCR’s actions (or inaction up to that<br />

point) in regard to them. To some, it seemed like a knee-jerk distraction<br />

technique and hard questions were asked about why the promised<br />

actuarial consideration of the proposed fees had not taken place as was<br />

previously indicated would happen. Had this happened would a part of<br />

the fee guideline later have been recalled?<br />

The recall of one part of the fee guideline then calls the rest into question<br />

as well. Many have issues with the section on legal fees (note: the NCR<br />

acknowledge that they cannot set legal fees and only the law society can<br />

do so) which the NCR say should only be taken in the month the court<br />

action begins (this can be delayed by the courts for a long time or may<br />

never happen if things change to an application to the NCT).<br />

Some see the NCR removing legal fees attached to the NCT as an aggressive<br />

way to get Debt Counsellors not to make use of the NCT and to try sideline<br />

the NCT from the process.

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