Debtfree Magazine January 2020
The January issue of SA's free debt counselling and debt review magazine. We look at the recent R1 million fine handed to a Debt Counsellor and ask if this can be a good thing somehow for the industry. We also have news, tips, advice and more.
The January issue of SA's free debt counselling and debt review magazine. We look at the recent R1 million fine handed to a Debt Counsellor and ask if this can be a good thing somehow for the industry. We also have news, tips, advice and more.
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DEBT COUNSELLOR FINED R1 000 000 WHY THAT’S GOOD NEWS
WHY COULD A
RULING LIKE THIS
BE A GOOD THING?
How can any Debt Counsellor getting fined R1 Million be a good
thing? Naturally, you might say that this is in fact a bad thing. It
could make the industry look bad and such a big fine could threaten
the sustainability of the particular business putting, in this case, 200
people’s jobs in jeopardy and cutting off support to clients.
It is really no wonder that Ms Lamara has appealed the ruling. It is a massive
fine with big consequences.
Well, a little context is needed to fully understand why the NCR were so
unhappy with the Debt Counsellor and how consumers say they were being
negatively affected. This will help us understand the NCT’s ruling and why
such a ruling could be a good thing going forward.
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