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
GOOD FOR
OTHER DCS
There are lessons for Debt Counsellors to be learned here; mistakes
that can be avoided. Debt Counsellors should beware of telling
consumers they do qualify for debt review before they have had a
really detailed look at their circumstances and received feedback
from credit providers. The NCT clearly feel that credit bureau reports
carry no weight in this regard.
Debt Counsellors who have staff working for them, who have to stick to a
script when dealing with consumers, should check that these scripts in no
way imply that the support staff individual is a Debt Counsellor or doing
any work of the Debt Counsellor. Eg. ‘Don’t worry I will talk to your credit
provider about that’/ ‘I am restructuring your debt so that you only pay x’.
The NCT sets great stock in signed application forms (as do most Debt
Counsellors) before looking into the consumer’s situation. Debt Counsellors
should also not forget to provide consumers with official contracts in terms
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