Debtfree Magazine September 2019

debtfreemagazine

The September 2019 issue of Debtfree Magazine. SA's Free debt counselling and debt review magazine. We discuss a court case that changes it all as well as possible changes to the NCA & Regulations.

ARE YOU

TRAPPED

IN DEBT REVIEW

September 2019

www.debtfreedigi.co.za

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Isn’t South Africa a place of wild

contradictions? Right now, we

have strikes and protest action

everywhere, Xenophobic attacks

on one side of the country while

on the other side recently, people

were marching to demand that

violent men stop being violent!

The army is playing bodyguard

to the Cape cops, and lots of low

level crooks have been rounded

up while in the same area, gang

lords roam free right past the

same cops.

The Rand is doing well and even

foreign Royals are visiting our

shores, at the same time politicians

are accusing each other of being

involved in corruption. New

commissions are being established

to track down stolen money, while

older commissions are yet to result

in arrests.

Moody’s is threatening a rating

downgrade that will chase off

investment while the government,

miraculously raises an extra 1 Billion

Rand by issuing more long term

bonds, due to high demand.

We live in a country where more

people have access to credit than

have jobs. Where half the people in

the country, technically, live below

the poverty line while retailers are

disappointed by their low sales. All

this, during a worldwide economic

recession where global markets

have shrunk, and people have lost

jobs. No wonder people are turning

to the assistance of debt review.

In this issue we look at a recent court

case that has given clarity on an issue

that was bothering the entire debt

review industry (and consumers)

for ages. It centers round leaving

the debt review process. The ruling

will encourage you to keep going

with the debt review process and to

help those who are contemplating

entering the process to give it serious

consideration before they start the

ball rolling.

The DTI has also initiated discussions

about proposed changes to make

to the Regulations for the National

Credit Act. Some of their plans will

no doubt surprise or shock you. We


discuss some of their proposals in

this issue of the magazine and we

will continue to track them as the

DTI go ahead with making changes.

Too many contradictions can leave

your head spinning, unsure whether

to be happy or sad, until you head

to the petrol station and prices are

up again or when your food bill is

higher than your limited budget.

Perhaps the rugby world cup can

distract us from our problems, but

maybe not. It is natural to want a

better life - to get clear of debt and

start building towards a positive

future. It is also natural to want

to have some control over your

future. So, if you can’t control all the

contradictory wildness around you

politically and economically, at least

you can keep paying off your own

debts and taking another step, this

month, towards being debt free.

FROM

THE

E

D

IT

O

R


HOW DO YOU

COMPARE?

Ever wondered how your income compares to the majority of South

Africans? Are you rich or poor compared to everyone else?

Wonder no longer, you can use this interesting online tool from the South

African Labour & Development Research Unit:

www.saldru.uct.ac.za/income-comparison-tool/

It will reveal where you score (based on your income) compared to other

South Africans. You simply capture one or two figures and it will show you

on an easy to understand graph.


DEBT REVIEW

SCHOOL

If you pay your debts yourself

(not via a PDA) never miss

payments of your Debt

Counsellors monthly fees


ARE YOU TRAPPED

IN DEBT REVIEW?

C

ADVERTISING

TIPS

IMPACT REPORT

ON NCA

AMENDMENTS

O

NTENTS

DTI PLANNING

NEW NCA

REGULATIONS

SERVICE

DIRECTORY

DISCLAIMER

Debtfree Magazine considers its sources reliable

and verifies as much information as possible.

However, reporting inaccuracies can occur,

consequently readers using this information do

so at their own risk. Debtfree Magazine makes

content available with the understanding that

the publisher is not rendering legal services or

financial advice. Although persons and companies

mentioned herein are believed to be reputable,

neither Debtfree Magazine nor any of its

employees, sales executives or contributors accept

any responsibility whatsoever for their activities.

Debtfree Magazine contains material supplied to

us by advertisers which does not necessarily reflect

the views and opinions of the Debtfree Magazine

team. No person, organization or party can copy

or re-produce the content on this site and/or

magazine or any part of this publication without

a written consent from the editors’ panel and the

author of the content, as applicable. Debtfree

Magazine, authors and contributors reserve their

rights with regards to copyright of their work.


ARE YOU

TRAPPED

IN DEBT REVIEW


Business photo created by kues - www.freepik.com


ARE YOU TRAPPED

IN DEBT REVIEW?

Debt review is an amazing process that allows consumers to deal with

their debt in a dignified and realistic manner each month. For many

it has literally been a lifeline to sanity and the opportunity to get

their life back on track.

Some consumers who have entered debt review have found that

starting the process is much easier than ending it. Most consumers

suddenly face 5 years of regular debt repayments without interruption

after many, many years of inconsistent debt repayment behavior. This

can be a real challenge. Leaving debt review* is especially tricky if

someone wants to leave the process before they have repaid all their

debts.

*

In this article we are using the terms debt review, debt counselling and debt

restructuring interchangeably even though each term has slightly different

connotations.


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ARE YOU TRAPPED IN DEBT REVIEW?

SHOULD YOU LEAVE

DEBT REVIEW?

You may wonder why someone in financial difficulty, who has found

this brilliant system of repaying their debts, may want to leave the

process before all their debts are paid up. First, let’s consider who

may want to leave debt review and why?

Some consumers have chatted to Debt Counsellors over the phone and

have asked for a debt review not realizing that the Debt Counsellor would

be obliged to inform the National Credit Regulator (NCR) that they had

done so. The NCR in turn notifies all the credit bureaus that the person has

asked for a review of their debt and the various credit bureaus put what is

called a ‘debt review flag’ on the person’s profile. This flag unfortunately

scares credit providers who worry that if they give someone with such a flag

on their credit report credit it may be considered legally reckless. Credit

providers can be fined up to R1 million for granting reckless credit. So, most

simply cut off such a consumer’s access to credit until that flag is removed.


Other consumers who start the process find that they cut their expenses and

later begin to earn more. Their partner may get work whereas before they

were unemployed or their business may begin to be profitable and suddenly

they have as much or more money that they used to have before debt

review. Such consumers may then want to leave the debt review process so

they can “get on with their lives”. They may feel that they would like to go

back to how things were when they could use their credit cards, store cards

and over draft.

Another group of consumers who have entered debt review may, in

confusion, decided to forego the services of a Debt Counsellor so that they

could, in their confused thinking, save a little money on fees each month.

They start to pay their credit providers the reduced amount as per the debt

restructuring plan each month but not their Debt Counsellor. Eventually,

such consumers may think that they have paid up all their debts and are

ready to reenter the credit market. At that point they then struggle to get the

credit bureaus to remove the debt review flag because they do not have a

Debt Counsellor anymore.

Other consumers began debt review a long time ago but were unable to

keep up regular debt repayments. They may have had unfortunate events

prevent them from repaying their debts for a month or two or may have lost

their job during the process. This meant that they did not stick to their debt

restructuring court orders for debt review and dropped out of the process.

It is estimated that there may be as many as 600 000 consumers in one

of these situations. When all these consumers try to use credit again, they

soon find that because the credit bureaus have them listed as being under

debt review they cannot get access to credit. They may then run back to

their former Debt Counsellor, a new Debt Counsellor, to the NCR or into

the waiting arms of someone who offers to remove their debt review status

in an online advert/ facebook page.


ARE YOU TRAPPED IN DEBT REVIEW?

CAN YOU LEAVE

DEBT REVIEW?

If you have started the debt review process and find that your financial

situation has changed for the better then you may wonder if you can

leave the process and begin paying all your debts as before.

At present, the Act makes provision for consumers in debt review to pay up

all their smaller debts and vehicles then leave the process with only a bond

left. If this is your situation then speak to your Debt Counsellor about how

to do this safely.

If you still have lots of debt, then ask yourself why you want to lose all the

benefits of debt review. No more reduced interest rates, no more reduced

monthly repayment amounts. Account fees and charges would be added

again meaning that you will pay so much more for your debts. It is a bad

financial decision that will cost you a lot.

For most consumers the debt review flag showing at the credit bureaus

means they cannot get access to more debt. They may have failed to learn

from their past mistakes of taking on more and more debt over time until

they couldn’t cope. They may want to start down that dark path again. The

debt review status at the credit bureau stops them from doing so. They

become desperate to take on more debt again.


ARE YOU TRAPPED IN DEBT REVIEW?

CAN THE COURTS

GET ME OUT OF

DEBT REVIEW?

Consumers in different provinces have headed to court to ask the

courts to rule that they are no longer over indebted and do not need

debt review. Different courts across the country have given many

different rulings.

Some courts, like in the Western Cape and KZN, have told consumers they

are not able to help because the National Credit Act only says a court can

call a person over indebted so they can qualify for debt counselling and it

does not say they can declare someone “not” over indebted.

Other courts have said it was fine and made orders to say the person

doesn’t need debt counselling anymore. Many courts have simply said they

cannot make a ruling. Now a new important High Court case has given

clarity on the subject which has been the topic of much industry debate over

the years.


The court case was heard, in Gauteng, by a full bench of several judges

and involved, among others, the National Credit Regulator (NCR), Mr Neil

Roets of Debt Rescue (the Debt Counsellor), RCS, Edcon, Standard Bank,

the Law Society of SA, the Banking Association. Two different consumers’

matters were considered at the same time and expert witnesses (like Debt

Counsellor Michelle Barnard) called in to present additional information.

The Ruling

After hearing from all the experts and after considering the arguments the

court was asked to answer a number of important questions about leaving

debt review.

The ruling, in effect, says that the High Court cannot say that someone

is not over indebted once they have been declared over indebted by a

Magistrates Court. Due to the way the National Credit Act never mentions

such a situation, no High Court can rule that someone in debt review is no

longer over indebted. It may be that the law was written specifically that

way to create the situation where once a consumer starts debt review they

have to finish the process.

Obviously this traps many consumers out of the credit market. The ruling

also says that unless someone questions the constitutionality of a person

being trapped in debt review (at court) the situation will just have to continue

as is. The ruling also says that if people want to change things then the

lawmakers will have to change the National Credit Act. The courts cannot

just work around the Act.

One other interesting part of the ruling says that if a matter has not yet been

heard by the Magistrates Court and if the consumer’s situation changes a

lot then the Magistrates Court could be given new information that proves

they are not over indebted. The ruling did not however mention the credit

bureaus and if they would have to remove the flag.


DEBT REVIEW | CREDIT LAW | LITIGATION

CONTRACTS | FAMILY LAW | WILLS & ESTATES

KIM

ARMFIELD

AND ASSOCIATES

Did you know that Debt Mediation can be

done legally? Contact us to find out how.

Tel: 021 949 1758 | 084 702 3760

info@legalwc.co.za | www.capeattorney.co.za


ARE YOU TRAPPED IN DEBT REVIEW?

WHAT DOES

THIS MEAN?

The ruling means that for consumers who are in the process and

paying each month, if they want to leave the process they have two

ways to do so: (1) pay up your smaller debts and leave with only

your bond to pay or (2) pay up all your debts and get a clearance

certificate from a Debt Counsellor.

For those who dropped out of the process, it means they cannot simply pay

some random attorney to miraculously remove their debt review status.

There are many such scams out there with unscrupulous people preying

on vulnerable people. They should steer clear of such scams. They have

to make the effort, as and when they can, to pay off all their debts and

then eventually get a Debt Counsellor who will help them with a clearance

certificate once they have done so. This will be a very long and hard journey.

Others who do not pay off their debts will find they will still be considered

legally over indebted and that (for now) the credit bureaus will not remove

the debt review flag. Credit providers will probably continue to deny them

credit even if they could realistically afford it. They are essentially trapped.


ARE YOU TRAPPED IN DEBT REVIEW?

TRAPPED!

For consumers who are thinking about entering debt review this means

that you need to make sure that if you start the process you are 100%

committed to sticking to the process. Be careful of committing to an

official debt review over the phone as it could come back to bite you.

You should ask anyone who calls to clearly explain if you are applying

for help or simply receiving information about the process and how it

works.

Debt Counsellors need to make sure that they inform consumers of the

serious and lasting nature of making the request for a debt review. It is not

something to be taken lightly. If consumers enter the process too easily they

may mistakenly feel they can leave the process as easily. If they later find

out that they have to stick to the process or face being cut off from credit

indefinitely they may feel cheated or that you failed to inform them.

Many Debt Counsellors worry that they should try get consumers signed up

the process as quickly as possible and prioritize this over making absolutely

sure that the consumer will follow through. They may be incentivized to do

so due to commission structures etc. Some larger firms may need to rethink

how they operate given this ruling. Many consumers have a type of buyer’s


emorse and fail to follow through without being helped to clearly see the

benefits over and over again. Now more than ever it seems it is time to only

bring people on board who will complete the process.

Credit providers should be increasingly wary of issuing 86(10) terminations

as it may now mean they end up trapping consumers in limbo unable to

ever become a customer again in a time when banks are desperate to

retain clients.

For those who already dropped out the process, perhaps even years ago,

they should avoid been scammed for fees for any ‘debt review status

removal’ services. This ruling makes it clear that such services cannot work.

These consumers should rather focus on finally repaying their debts. If they

do not pay off these existing debts then they will continue to be considered

over indebted and be locked out of accessing new credit.

It seems that the NCR and DTI need to seriously consider making amendments

to the National Credit Act to help the many hundreds of thousands of

consumers who are trapped outside the credit market. Changes have been

made to the Act in the past to allow consumers to leave debt review without

being trapped in the process for 30 years with a bond. Perhaps new changes

could be made to address this issue.

For now, if you have entered debt review it seems that the only way out is

through.


South Africa’s

leading Debt Counsellors

since 2007

Start getting out

of debt today!

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Call our national

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086 111 6197


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2019

Debt Review

Awards

WINNER

2018

Debt Review

Awards

WINNER

DebtBusters voted SA’s BEST ‘National Debt Councellor’at the

2019: Debt Review Awards - for the 4th consecutive year!

Consumer Debt Help voted SA’s BEST ‘Large Debt Councellor’

at the 2018: Debt Review Awards - for the 5th consecutive year!

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DebtBusters employs NCR

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| www.debtbusters.co.za

Proudly part of the Intelligent Debt

Management (IDM) Group


DEBT REVIEW

SCHOOL

Do you know the name of

your attorneys who are HELPING

with your debt review?

If not, find out!


ADVERTISING TIPS

Are you spending a lot of money on advertising and having little or

no success getting more sales? While the availability of funds in a

downturn economy is an influencing factor, people are still shopping

for products and services during hard economic times. Advertising is

meant to influence consumers who are ready to spend, to choose your

service or product over that of your competitor.

Back in 2007, the Washington Post arranged for a man in a rather non

descript jersey and baseball cap to stand in a grimy corner of a train station

in Washington DC. He stood next to a garbage bin and after setting out

his violin case to collect tips, began to play for around 45 minutes. Almost

1000 people passed him by that morning on their way to work. Some

sat nearby and had their shoes shined or bought items at a shop. Seven

people stopped to listen during that time. Some dropped in tips amounting

to $35 but nearly a thousand others simply walked right by.

Why is this interesting? Well, two weeks before the same man, Mr. Joshua

Bell performed at the Symphony Hall in Boston. He wore the traditional

black suit, and the excited crowds were all prepared to pay $100 each to

hear him play. The hall was packed. Mr. Bell is known as a brilliant violinist,

his performance has been described by some as telling “human beings

why they bother to live”.

In both locations, Bell played the same songs. The man was the same, the

instrument was the same and the music was the same. The different was

the environment or what marketing people call ‘context’.


ADVERTISING TIPS

CONTEXT

People in a grimy train station do not expect to hear a world famous,

brilliant, concert violinist, so they walked right past. In contrast,

people heading to a fancy concert theatre are expecting only the best

performances and are willing to pay for the pleasure.

The Washington Post organized the experiment in order to discern if the

context in which we are exposed to something really matters or not. They

were expecting a different result but the marketing world learnt a lot from

the outcome.

When advertising, it is important to realize that sometimes what you say, is

not as important as where you say something. For example, you may pay a

lot to advertise a… debt counselling service in totally the wrong place and

be disappointed that no one comes running to make use of your fantastic

debt solution. Keep this in mind when investing in online advertising as

well, simply having a lot of people see your advert is no guarantee that

they will respond. They need to see your advert in the right place, and in

association with other similar products and services.


If we see an advert for a service or product in a place we associate with

value and relevance, then we are more likely to pay attention to it. For

example, advertising your Debt Counselling firm in the service directory

listing of a magazine all about debt, debt counselling and debt review, as

opposed to in a magazine about fly fishing. The same person could see

both adverts in both magazines, but will allocate more credibility to an

advert in an associated industry magazine.

Our brains also come into play, and can (amazingly) trick us into appreciating

something more or less, given the context. Researchers have found that

people who paid more for a bottle of wine (the same bottle) actually enjoyed

the wine more than those who paid less. Those paying less had their brains

tell them that since the wine was cheap, it was better than expected but not

great. Those paying a lot for it found they genuinely enjoyed the wine. Their

brain had primed them to expect a better taste before they had even taken

a sip. The researchers say that they became predisposed to enjoying the

wine before tasting it.

Of course, the best marketing practice is to have clear, catchy advertising

(content) that is presented to people at the right time and place (context).

So, for the best results from advertising, be sure to balance your great

content with the right context.


www.collectnetpda.co.za


KIM

ARMFIELD

AND ASSOCIATES

When debt

review clients

don’t pay they

put your entire

practice at risk!

We make sure you get paid for

the work you’ve already done!

Tel: 021 949 1758 | 084 702 3760

info@legalwc.co.za | www.capeattorney.co.za


DEBT REVIEW

SCHOOL

Do you know the name of

your attorneys who are HELPING

with your debt review?

If not, find out!


GOVERNMENT IMPACT

REPORT REVEALS

MASSIVE ISSUES

WITH NEW NCA

AMENDMENTS

The President recently signed a new set of amendments to the National

Credit Act. Although we are yet to find out exactly when they will

come into effect, they already form part of South Africa’s legislation.

The new laws impact on how debt review is done, and also make

provision for consumers with smaller debts to get debt counselling

from the National Credit Regulator (called Debt Intervention).

When a new law will possibly have a big affect on the economy, then

Government calls for a Socio-Economic report to see what could result

if the new laws were passed. The results are normally discussed by

Parliament and the President and from time to time the public.


Business photo created by asier_relampagoestudio - www.freepik.com


ISSUES WITH NEW NCA AMENDMENTS

WHAT CHANGED?

If “Debt Intervention” is just debt review, which has been around for

years, then what’s the big deal? While debt intervention IS just debt

review (done by the National Credit Regulator for people who earn

less than R7500 and with less than R50 000 unsecured debt) it does

have 2 big differences:


Difference #1

The NCR (and later courts) encouraged Debt Counsellors not to take on

clients who did not have income to pay back their debts (even though the

NCA did not specify this about debt review). They also regularly encourage

Debt Counsellors to try to get consumers to repay their debts within 60

months, which is popular with many credit providers.

The NCR themselves will be taking on such matters for consumers who

qualify, and don’t have income or enough to repay debts now. They will

make use of the provisions in the NCA which allow repayments to be

postponed for a while. This allows these consumers to start to earn more

income, but means credit providers must wait for funds, and cannot take

them to court in the interim.

Difference # 2

Debt Intervention could see consumers, who cannot make debt repayments

for many years, eventually have some of their debt written off. The credit

providers feel very nervous about this, since the debt they offer to bank

clients is their property, as well as that of their savings clients. Debt write

offs may equate to expropriation of property without compensation.


ISSUES WITH NEW NCA AMENDMENTS

WHY DEBT INTERVENTION

IF DEBT REVIEW

ALREADY EXISTS?

The NCR has recommend a set of fees for Debt Counsellors to charge.

Many politicians and perhaps the DTI seem to think these fees are

expensive (even though they are built into the process over many months

and are only what the consumer can afford).

The NCR also recommend that Debt Counsellors try to settle debts within 60

months of people starting the process (eg. through DCRS). For consumers

with little or no means, this could be impossible. The NCR and many courts

(and credit providers of course) do not think that repaying debts for long

periods of time (as is done in other countries, like the UK) is a good idea. So,

they effectively encourage Debt Counsellors not to help such consumers.

Even though almost 20% of people in debt review fit into this income and

debt profile, the law makers and regulators are pretty sure that the new

NCR offered service won’t have much of an impact on the existing debt

counselling industry.


ISSUES WITH NEW NCA AMENDMENTS

REPORT WARNS

OF ISSUES

Many have been concerned that taking away (writing off) the banks

and their savings clients’ money may be unconstitutional, and will

certainly make the banks and small credit providers scared of lending

to the millions of consumers in this profile.

One of the main concerns in the Report is that with NCR registered lenders

raising rates for such consumers, or avoiding them, these consumers will

soon be forced back into the arms of loan sharks.

The Report also says that estimates on how much it is going to cost tax

payers to fund the work of the NCR, have been massively underestimated.

The figure they give is R407 million for the first year, and that will rise each

years as the workload increases.

While it is somewhat of a ‘cart before the horse’ situation, with the report

being made public after the signing of the bill into Law by the President,

the fact that the Report has come out with big concerns does not mean the

Laws will not be put into effect. Almost all of the raised issues were already

mentioned in consultation with the industry and public before the bill was


sent to Parliament. It simply highlights some of the major challenges that

implementing the Law is going to create. At present, the DTI are looking at

new and updated regulations in regard to the National Credit Act. These will

help turn the idea of Debt Intervention into a reality, should the constitutionality

of the amendments not be taken to court by concerned credit providers.


What if...

YOUR CLIENT’S VEHICLE IS STOLEN OR WRITTEN OFF?

Is he really insured, and if so, properly?

Could the insurer repudiate the claim

because of his debt review status?

As he cannot borrow,

how does he replace his vehicle?

Since he can’t get more credit,

how does he replace his vehicle?

Meliorleaf is the first and only specialist in

insuring the assets of people in debt review.

We genuinely protect your clients…

in partnership with you.

CALL US NOW 011 141 2799 | www.meliorleaf.co.za


MAXIMISING INSURANCE RELATED INCOME

PARTNERSHIPS

How Meliorleaf partnerships with Debt Counsellors work.


We keep you advised regarding your clients to ensure they are

covered properly and remain covered.


We remunerate you, ongoing, for what you choose to do:


Some debt counsellors want to be actively involved in arranging

and managing insurance relationships, and we fairly share

commissions earned


Some debt counsellors are also registered Financial Services

Providers. They can advise clients and provide a full broking

service, and are entitled to earn the full commission


But, Meliorleaf understands that some debt counsellors cannot or do

not want to be actively involved. However, they do want their clients

to be properly insured:


For these debt counsellors, Meliorleaf can provide a fully

outsourced turnkey solution. What’s more, we will still provide

you with ongoing remuneration on all active policies.

Are you interested in partnering with Meliorleaf?

Call Sean or Elmarie today on 011 141 2799

CALL US NOW 011 141 2799 | www.meliorleaf.co.za


DTI PLANNING NEW

NCA REGULATIONS

The Department of Trade and Industry (DTI) are responsible for the

making regulations which help turn the ideas in the National Credit

Act (NCA) into day to day processes. These regulations make it clear

how certain sections of the NCA are applied. They provide forms and

further information such as exactly how much may be charged for a

service or what information is required in certain situations.

For a long while, the industry has been calling for changes to be made to

many of the existing NCA regulations and the addition of missing regulations

to clear up some glaring issues. Over time as the industry has matured and

new processes have been added (like dispute resolution or debt intervention).

In many cases, further clarity is required to ensure that all parties cooperate

with the intentions of the NCA.

Recently, the DTI called on people working in the industry to give comments

on a number of ideas they are talking about. They sent a list of the changes

they are thinking of making to various regulations. The DTI have made

it clear that this is just the start of a public consultation and conversation

calling it an ‘informal platform’ to have a good chat about their plans.


DTI PLANNING NEW NCA REGULATIONS

SOME OF THE DTI’S

INTERESTING IDEAS

It seems that, after years of asking, the DTI are finally thinking of

changing the regulations to allow Payment Distribution Agents (PDAs)

to take slightly longer to pay money over to credit providers once they

get it from consumers. Why this is important is because it helps protect

the PDAs from consumers who later reverse the debt review repayment

for some reason. This can leave them out of pocket or paying extra

costs. Due to the regularity with which this happens it has become a

major issue for PDAs and even threatens their livelihood.


The DTI also want to make changes to ensure that people who enter debt

review provide documentation to their Debt Counsellor about the information

they give them. In a way, this might also protect consumers from simply

having a phone conversation with someone and ending up registered as

under debt review.

One area of contention is in regard to the DTI wanting to make the non binding

opinions of the National Credit Regulator (NCR) in regard to some forms,

fees and the use of computer software by credit providers called DCRS into

completely binding opinions. This would essentially mean that the NCR can

issue their own laws without having to ask the industry, public, Parliament or

even the DTI about them. This makes many people understandably nervous.

Some people have however pointed out that many of the planned regulation

changes have to pass through existing legal requirements or processes before

they can be changed and cannot simply be done via public consultation or

the DTI alone.


Die Republiek van

SKYT AFRICA

Hi Almal,

Nou ja dit is tyd vir die rugby Wêreldbeker en die dames moet maar

verlief neem met manlief se tydige en ontydige afwesigheid alhoewel daar

dames is wat ek ken wat ook vurige rugby ondersteuners is. Of die Bokke

die knoop gaan deurhaak is n ope vraag, kan iemand die All Blacks

stop? Die Noordelike halfrond spanne soos Ierland, Wallis en Engeland

kan ook nie vlak gekyk word nie en die Franse is altyd onvoorspelbaar.

Baie stoere rugby ondersteuners het die sokker Wêreldbeker gevolg,

hoekom? Deels omdat dit net elke vierde jaar plaasvind, deels omdat

dit n skouspel en uiters onvoorspelbaar is en omdat die wêreld se bestes

teen mekaar meeding.

Vir dieselfde redes sal menigte sokker aanhangers hierdie rugby skouspel

volg, dit is net bitter jammer en betreurenswaardig dat die SABC so

wanbestuur was dat hulle nie die finansiële vermoë het om die wedstryde


te beeldsaai of selfs oor die radio uit te saai nie. Die gevolg is dat die

geleentheid wat homself voorgedoen het om ons as n verdeelde nasie

weer saam te snoer verlore is. Mag die beste span wen, veral as dit die

Bokke is!

Daar was onlangs twee verbruikers wat hulle tot die hof gewend het

om onder skuldberading uit te kom. Die hof het teen hulle beslis, ek wil

geensins die meriete of die regstegniese aspekte hiervan aanraak nie maar

eerder hoekom die verbruikers hulle tot die hof gewend het. Die een het

aangevoer dat hy na 12 maande finansieel weer op sy voete kon kom en

die ander na 18 maande. Dit beten nie hulle was in staat om hul skuld af te

los nie maar in staat was om voort te gaan met hulle normale paaiemente.

Wat egter nie duidelik is nie is wat het daar toe aanleiding gegee dat hul

situasie verbeter het nie. Was dit die feit dat hulle in die periode wat hulle

onder skuldberading was nie verdere skuld kon aangaan nie, was dit die


feit dat hulle onder skuldberading die nodige verligting kon geniet om

sake om te draai of was daar n ander rede?

Dit is goed en wel om na die bestek van onderskeidelik 12 en 18 maande

hof toe te gaan en skuldberading te beveg maar wat sou gebeur het

in hierdie periode sonder die beskerming van skuldberading? Sou elke

skuldeiser, en ek lê die klem op elke skuldeiser, hulle op die boeke gedra het

sonder enige gevolge? Hou ingedagte dat finansiële instellings voorsiening

moet maak vir slegte skuld en enige rekening wat drie maande of meer

agterstallig is moet as slegte skuld verklaar word. Hoogs onwaarskynlik.

Skuldberading is nie n quick fix nie, dit is n proses en geensins n maklike

proses nie. Ek wil dit amper vergelyk met n wêreldbeker rugby span,

hulle bou vier jaar aan die proses om teen die bestes mee te ding, jy kan

nie n jaar of twee voor die tyd begin planne beraam en span bou nie.

Skuldberading wat as n korttermyn oplossing gesien word gaan faal. Die

groot probleem van hierdie twee persone blyk te wees is dat hulle nie,

terwyl hulle onder skuldberading is skuld kan aangaan nie. Was daar n

les geleer terwyl hulle onder skuldberading was? Duidelik nie.

Tjorts op die Bokke!

Groete,

Christo

Christo Hattingh

Kyk gerus my LinkedIn profile:

https://www.linkedin.com/in/christo-hattingh-351a52130/

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Manage all debt counsellor swaps and

system changes.

Manage all COB escalated queries and

follow-ups.

Manage all debt order cancellation requests.

Manage reckless lending allegations.

DCKYC@absa.co.za

KYC

For return of KYC Forms.

Authorised Financial Services Provider and a registered credit provider (NCRCP7)

Absa idirect’s FSP 34766

Absa Insurance Company’s FSP 8030


Email Turnaround Time Function

Proposals

DCProposalquery@absa.co.za

DRProposals@absa.co.za

10 Business Days

10 Business Days

Manage all proposal escalated queries and

follow-ups.

Processing of the following documents:

17.2, proposals, proof of insurance,

17.3 & supporting documentation.

Legal

Courtapp@absa.co.za 5 Business Days All legal documents to be provided to this

department for review.

Termination

DRTerminations@absa.co.za

17.4@absa.co.za

10 Business Days

10 Business Days

Manage all termination queries,

reinstatements requests and follow-ups.

Manage all voluntary termination requests.

DCClearanceCerticate@absa.co.za

Clearance

5 Business Days Manage all clearance-related queries

and requests.

Service

Types of queries managed by this department; Account closure conrmation/request. Balance conrmations/

query. Account status conrmation, statement request. Paid up letter request. Refund request. All relevant

operational queries to be referred to operational queues mentioned.

Debtreviewqueries@absa.co.za

Debtreviewmanager@absa.co.za

10 Business Days

5 Business Days

Entry point for all query-related matters.

Escalation point for all query-related matters.


First National Bank – a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider (NCRCP20). Reg. No. 1929/001225/06.


DC Query Process DC Query Process

www.nedbank.co.za


17.1, 17.2, Proposals, General

correspondence:

debtcounselling@africanbank.co.za

To register for Legal Web Access:

lwac@africanbank.co.za

Reckless Lending investigations:

RLA@africanbank.co.za

ESCALATION PROCESS

DETAILS COMING SOON

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