Debtfree Magazine Issue 10 of 2021

NEVER

ENOUGH

TIME?

TOP TIPS FOR

MAKING MORE TIME

Issue 10 of 2021

EXCELLENCE IS DOING

ORDINARY THINGS

EXTRAORDINARILY

WELL

– John W. Gardner

WHAT MAKES US

EXCELLENT?

/ Unimpaired and automated PDA systems

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/ Strong compliance and best-industry-practice implementation is at our centre

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Head of Hyphen PDA | 082 557 0437

Or call our friendly support centre on 011 303 0060 - Option 2

or visit our website www.hyphenpda.co.za

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FROM THE EDITOR

James Bond may have ‘no time to die’ but you may

simply have no time at all. Time is so valuable that we

say time is money. But what if you have no money and

no time? That’s how most people feel these days. Are

you just trying to make it through the week to enjoy a

few moments of respite on the weekend?

In this issue, we look at top tips and advice from time management

experts on how you can make the best use of your time. You may find

some tips that can help you get more done, tips that might take some

of the stress out of your day, and maybe even tips to help you get

around to doing some of the things you have been meaning to do,

but never get around to.

We also catch up on local and international news, like the breaking

story about the world’s biggest tax fraud case ever. Now there have

been some spectacular cases of fraud in the recent past, so for this

one to take the highest slot ever, it is a pretty big deal. They suspect

that nearly 1 Trillion Rand has been defrauded from the European

version of SARS. That’s a number so big it nearly breaks your brain. It’s

like watching a video on the increasing size of different suns in the

universe or how tall Shaquille O’Neal is, compared to various other

people.

Every year retailers try to convince us that Black Friday is our one

and only chance to get a great deal. Will you fall for the advertising

campaigns this year? Be sure to check out our Black Friday article,

which will force you to ask yourself some hard questions.

We also tackle some debt review specific topics, like a look at

the form that is used when a consumer has a big change of

circumstances. If you work in the industry, you may even want to

check out the Jobs section in this issue.

If you are looking to get in touch with a credit provider, Debt

Counsellor or attorney then head over to the Service Directory

Section for their latest contact details.

We hope that you are able to find the time to read this issue, and find

the tips that work for you. By staying in touch with what is happening

locally, internationally and with debt review specifically, you are

arming yourself with a tool more useful than James Bond’s tiny

Walther PPK pistol: knowledge!

Well done on making it this far into the year. It may be one of the

hardest years of your life, but it is almost over, you are almost there,

it’s really not long to go. Summer is already here, so, keep up your

hard work, make those payments, get debt free.

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DEBT REVIEW

LESSON #1

If a credit provider is calling you and

harassing you even though you are in debt

review then contact your Debt Counsellor

for help.

They will help you complain to the right

people.

PROFESSIONAL DEBT

COUNSELLING ATTORNEYS

Assisting With Debt Review Matters Nationwide

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NCRDC1142

CONTENTS

DO YOU NEVER HAVE

ENOUGH TIME?

THE BIGGEST

TAX FRAUD

SCHEME EVER

WHY A DEBT

COUNSELLOR

CAN GET

DEREGISTERED

BEWARE

BLACK FRIDAY

HYSTERIA

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.

CONSUMER FRIEND

USES

SOFTWARE TO ENSURE

POPIA COMPLIANCE!

- Secure system-to-system data transfer (no human contact)

- Elimination of data exposure from the use of email

- Data specification is fit for purpose

POPIA COMPLIANCE IS

CRUCIAL THIS YEAR!

BREAKING

NEWS

REPO RATE MIRACULOUSLY

UNCHANGED

The SA Reserve Bank’s Monetary Policy Committee (MPC)

has recently decided to leave the repo rate unchanged at the

record low of 3.5%. This will continue to provide credit users

with some much needed relief in the face of the pandemic

and subsequent lockdown.

The Reserve Bank Governor has however warned, that over

the next 24 months consumers are likely to have to face

slowly increasing interest rates.

This is due to slightly higher than desirable inflation rates

(have you noticed how petrol prices and food prices are

up?) and pressure from international economic and political

developments that impact the value of the Rand.

We are the champion

in your corner!

DebtBusters provides a remedy for financially stressed

consumers through effective debt relief solutions.

Over 1 million South Africans who are facing tight

budgets and are struggling with debt, have come to

DebtBusters looking for a financial solution.

086 999 0606

info@debtbusters.co.za

www.debtbusters.co.za

NCRDC2484

1.3 MILLION PEOPLE

UNDER 24 YEARS OLD

ARE UNEMPLOYED

Young people leaving school face the daunting challenge of

finding work. Almost half of them will struggle to find work.

Recent stats discussed at Parliament revealed that there

are currently 1.3 million unemployed youth in SA and over

1 Million young people have been sitting without work for

over a year or more.

Stats recently released showed that certain sectors of the

economy have been hard hit by job losses including:

Construction:

Trade:

Private Households:

Transport:

Agriculture:

87 000 jobs lost

84 000 jobs lost

70 000 jobs lost

40 000 jobs lost

18 000 jobs lost

Other sectors were not as badly hit, some even saw small

gains, but this means that 299 000 people lost work in

the last few months. Most of these job losses are directly

attributed to the economic impact of the pandemic.

There are currently over 7 million unemployed South

Africans who are looking for work.

98 CENT PETROL PRICE

INCREASE COMING

The price of fuel looks set to shoot up by nearly R1 per litre

in November. Two things are happening at the same time

that will see the local petrol price increase dramatically in

November, and then sadly probably again in December.

First, the Rand has not been performing well in relation to

the US Dollar since June 2021. Though this figure always

goes up and down a little, this is a vulnerable area for a

country that has to buy fuel in Dollars. Other international

currencies which are often linked and compared to the

Rand by investors, have been doing poorly (looking at you

Turkish Lira).

Secondly, a big international energy crisis is building, and

the cost of barrels of oil is going up. In fact, it is at some of

the highest rates it has been in years. Oil barons are happy,

commuters are not.

When you put those two factors together, it means we are

now in for a big petrol price jump in November, and diesel

users have not escaped unscathed either, with the diesel

price set to go up by a whopping R1.40/litre.

Petrol, which started the year (inland) at around R14.86, now

looks set to finish the year at over R19.30 or more. That is

more than a 30% increase in one year, ouch!

ABSA DEBT REVIEW

DISCONTINUES SOME

EMAIL ADDRESSES

It is vital that the right emails get to the right people when

dealing with debt review. A missed email can result in

many lost days in a time sensitive process.

Recently, ABSA have made a move to streamline and

simplify their processes. This includes some changes to

their email addresses.

Email addresses that will be terminated effective 1

November 2021, are:

• DRCOB@absa.co.za

• DRProposals@absa.co.za

• 17.4@absa.co.za

• Courtapp@absa.co.za

• DCClearanceCertificate@absa.co.za

• DCTransfer@absa.co.za

The email address that should be used from 1

November 2021 for all process-related documents is:

ABSADebtReviewDocuments@absa.africa

The familiar email address for general queries remains

debtreviewqueries@absa.co.za

South Africa’s

leading Debt Counsellors

since 2007

Start getting out

of debt today!

www.creditmatters.co.za

Just got out

of Call debt! our national

call centre on

086 111 6197

Call our national call centre on 086 111 6197

www.creditmatters.co.za

NCRDC19

We’re not back,

we never left.

NPDA is now iPDA.

As one of the four licensed Payment

Distribution Agencies in South Africa, we

work with several hundred DC’s, paying

several thousand creditors and managing

payments for thousands of consumers.

We still offer a range of benefits and controls

that make the way you serve your clients

faster, cheaper and more intuitive.

For more information or a free demo, visit us

at www.ipda.co.za.

DO YOU NEVER HAVE

ENOUGH TIME?

DO YOU NEVER HAVE ENOUGH TIME?

DEMANDS ON

YOUR TIME

Life is hectic. We have so many obligations to take care

of every single day that it can feel like we don’t have a

single moment for ourselves.

No doubt your family requires the majority your attention, but your

boss also demands your time, as do your friends and others who ask

for help, this can use up what little time you do have.

And that’s before the car breaks down, or the train is out of order or

some other unplanned time consuming disaster comes your way.

So, with so many different demands on our time and attention, how

do we find time to take care of everything?


CHASING NORMAL

You may feel that you have been running for months

on end with little or no rest or respite. If you feel this

way, you are not alone and statistics show that most

South Africans have been working longer and harder

during lockdown.

You may be telling yourself that you are going to regain some balance

any day now, maybe next week. You convince yourself that you

just need to push through this week, and then you can get back to

normal.

But what if ‘normal’ never comes, and by the time the end of the year

rolls around, you are totally burnt out and exhausted?

Let’s consider some tried and tested advice from time management

experts that really work. These tips can help you make the most of

the time you do have, and even find more time to do the things you

want.


A DAILY “TO DO”

LIST

You may be in the habit of getting up and going to

work and then coming home exhausted. Somewhere

in the back of your mind there is a list of things that

you know you should do, but you never find the time.

The first step to figuring out how to make the best use of your time

each day is to make a list of what you need to get done.

Most experts recommend a daily to do list. Taking 2 minutes each

morning to make a to-do list forces you to itemize what result is

needed, and what action you must take to get it done.

And if your list gets too long and intimidating, then you can always

move some items to tomorrow. The idea is to prepare the list again

each day. Looking over the items from the previous day you will see

what you didn’t finish, and can add it to the new to do list for the day.

Having the list in front of you will enable you to clearly see what items

are most important, and need to be done immediately, and which

items can wait till later in the day or tomorrow.


THE 80/20 RULE

The 80/20 rule is a way of saying that often, it only

takes a little bit of effort to get you 80% of the way to

complete. It can often take you 80% of the time and

effort, to get the last 20% done.

For example, you are expecting a visitor so, you decide to tidy up your

room. You start by neatening up your bed covers, putting away a few

items of clothes that were lying around and maybe you sweep the

floor quickly. It takes you only a few minutes. You get 80% results for

only 20% time and effort. But the room may not be 100% clean.

You decide to reorganize your cupboards and drawers, move some

furniture around and vacuum behind all your cupboards. Surprisingly

these tasks take you a lot longer. Your visitor will hardly notice these

items at all. The last 20% of the job took most of the time and effort.

Consider if the extra effort on this particular occasion was worth it.

Could you have left the clean up at just the first few things, and then

moved on to preparing them something delicious to eat when they

came over (or other tasks).

Often a business will find that 20% of its clients are responsible for

80% of their profit. Or 20% of the stock is what moves the most, it has

many applications. Can you focus on the few tasks that will see you

get the most “bang for your buck”, the biggest return on your time

and effort?


DO THE MOST

IMPORTANT

THINGS FIRST

Once you know what things you need to do each

month, or each day then you need to prioritise. Some

items will have a deadline that is looming, these will

require attention first.

Some items on your list will be the most important for other reasons,

and you should allocate time and mental energy to handling those

things before you get distracted by other less important items.

If you get 20 small, unimportant things done in a day, you may have a

fleeting feeling of accomplishment, but if you forgot to do any work

that day, you may be heading for disaster (especially with your boss).

Make a point of allocating enough time for the most important things

first, the see if you can squeeze in a few of the other ‘nice to haves’.

Once again you can see the value of making a list and prioritising. It

is also very important to realize that you will not get everything done.

You need to make your peace with that, and try to ensure the most

important and time sensitive things are handled first.


SCHEDULE LESS

If you have ever made yourself a delicious wrap or

burrito then undoubtedly you have fallen into the trap

of putting too many fillings inside and making a big

mess when you try to eat it. Everything begins to slide

out and mess all over you or your plate.

A daily to do list or monthly schedule can be the same. If you do not

schedule enough time to handle matters properly, then you are never

going to get through your list.

It is better to be realistic and even generous in planning your day.

Will it take 20 mins? Rather schedule 30 or 40 minutes to allow for

distractions and delays.

Rather schedule fewer items, and then find you have a few minutes left

over to handle bonus items than the other way around.


THE STUFF YOU SHOULD

DO BUT DON’T FEEL

LIKE DOING

It is not uncommon for to find a dozen excuses to

avoid doing something unpleasant, but important.

Maybe it is something that will put us in a confrontational

situation with someone else, or maybe it is just plain

nasty (like cleaning out those garbage bins).

If these are small things, then often we can shift them down the list

and focus on more important things for today, but if they have a big

impact on your day or life, then you should address them.

An excellent tip is to deal with these items when you are at your most

energetic and enthusiastic each day.

For some people this will be at the start of the day. For others it will

be once the kids are at school and all the morning items have been

attended to. You know your routine the best.

Find the time when you have the best mental and emotional energy,

and then tackle that challenging item on your list. Get it done even if

it is nasty, that way you can free yourself from the background stress

it is causing you.


IF YOU WORK FOR

YOURSELF

Working for yourself has many advantages (like

actually generating income in an economy where so

many people are unemployed) but it does come with

its own challenges.

One of the biggest challenges is effective time management.

Sometimes you cut yourself too much slack, and don’t do what you

should because your boss (you) is too lenient on you.

So, be professional. Set regular work times for yourself and don’t only

work when you feel like it.

One of the world’s most famous writers, Stephen King, is well known

for working 9 to 5 each day of the week. He said that he does not

wait to feel inspired to write. He sits at a desk and writes even when

he doesn’t feel like it, because it was his job, resulting in a lot of best

sellers.

So, if you find you do not have enough time, then look at when and

how you are working each day, week and month.


NOBODY EXPECTS THE

SPANISH INQUISITION

While nobody expects the Spanish Inquisition (you may

need to be a Monty Python fan to get that reference)

you can expect, that the unexpected will come along,

and derail even the best laid plans.

Ever noticed how your printer only gets a paper jam when you are in a

hurry? It is like it can sense your desperation.

This goes hand in hand with scheduling fewer items each day. It is wise

to allow enough time to get things done when making a daily to-do

list. You should always allow a little ‘play’ or extra time when making a

schedule.

Your Zoom meeting may be scheduled for 12 but Bob may run a few

minutes late on his side, delaying you even though you were ready

5 minutes early. Thembi may arrive on time but not be able to get

her camera to work or mic to unmute. Eskom may give you a nice

loadshedding surprise right in the middle of your otherwise productive

day.

Scheduling less items each day and allowing for things to take longer

than planned, is always wise. Plan for the unexpected.


REDUCE

INTERRUPTIONS

These days we have many ways for people to get in

touch. They can text, whatsapp, email or call you.

We have other things that can distract us. Background music, news

updates, tv screens, app notifications and people of course.

There are a million things that can distract us while we are trying to

get things done.

If you can reduce the likelihood of being distracted at important

times, then you will get more done.

Can you shut off those screens, find a quiet place, ask not to be

disturbed and even put your mobile device on airplane mode for a

few minutes while you attend to critical matters?

Find ways to reduce distractions.


BURNING THE

CANDLE AT BOTH

ENDS JUST LEADS

TO BURN OUT

It is a common mistake to think that you can power

through and get everything done by just working

longer. As a kid, you may have tried marathon study

cram sessions before exams.

Sadly, this is not very effective. Your brain tends to punish you for trying

to push it beyond what it can realistically handle.

Companies that work their staff on endless overtime, often find that

productivity just drops further. So, they push the staff harder still resulting

in declining work quality and delays due to avoidable mistakes.

By trying to do more when you are exhausted, you can make things a lot

worse! So, be sure to try and work fresh and energetic. This may mean

working for less time (counter intuitive we know) but you may find, that

you get more done and do it better when you have physical and mental

energy.

This may mean getting enough sleep each night and not burning the

midnight oil trying to squeeze things in after dark. Skipping lunch to push

through might actually end up making you less productive. A small micro

nap or a walk in the park at lunch time might be just what your brain

needs to charge up those batteries.

Work fresh and energetic, not exhausted and drained.


CAN YOU MAKE

MORE TIME?

There are only 24 hours in a day. So no, you cannot

literally ‘make more time’ but you might be able to find

time in your day that you are not using effectively and

make better use of it.

Many of us have hidden free time each day. For example, if you drive

to work, you can use the time to listen to an audio book. If you take

the train or taxi to work, take that book along.

You may be able to do a quick catch up on the news while shaving or

something similar.

Japanese families, who often get stuck in bad traffic, are known to

have a catch up chat, and then let the kids begin their homework on

the way home. By the time they fight their way through traffic and

get home, the kids have had 30 minutes to do a significant portion of

their assignments.

Do you find you and your partner are not getting enough time

together? Why not spend time preparing a meal together each

evening? While chopping, dicing and slicing those veggies you will be

able to chat and catch up, as well as cut down on the time it take to

get everything ready. Many hands make light work.

If you are running short on time each day but spend 3 or 4 hours an

evening watching TV or browsing Instagram, then you may be able to

repurpose some of that time to do the necessary things.

Find the hidden time in your day and see how you can use it better.


USING OUR TIME TO

REACH REALISTIC

GOALS

Having goals in life is vital. Identifying what you need

or want and working toward it can lead to success.

How do we set realistic and achievable goals that we can use our

valuable time towards reaching?

Some things you can control and others you cannot. You may not be

able to control when the next bus is coming to your bus stop. You may

not be able to control whether your boss will ask you to work overtime

or not, but there will always be things over which you do have direct

control.

As an example, let’s say that you may want to become the “boss” in your

department. Being the boss is cool and you could get paid more and get

more perks. But there are also aspects in that particular goal that you

cannot control.

The existing boss may not have plans to go anywhere. Management may

not have any plans to replace the current boss. If they do begin looking

for someone to fill the position then they (not you) will be the ones

making the decision about who is hired. So, what could you rather set as

a goal, over which you do have some control?

You could decide to gain new skills that will make you a more valuable

employee. This is something that you have more direct control over. You

could sign up for an online course or distance learning, or take some

time off to do a short course that will give you better skills. These new

abilities will make you a better employee. You will be better at your job

than those around you. When the time comes to look at who will be

promoted, you will stand out among your peers.

You may not be able to control whether the bus will come to fetch you

on time for work, but you can personally control when you get to the

bus stop. Could you get there a little sooner to catch the earlier bus?

Would getting there a few minutes earlier mean that you are less likely to

miss the bus if, by some miracle, it is running early?

By focusing on the things you can control, and lining these things up

with your life goals, you are more likely to accomplish them and make

good use of your time.

If one of your goals is to get out of debt, then you should allocate time

each month to make sure that your debts are being paid, that you are

sticking to your budget (and have a budget in the first place) and tracking

the payments and balances.

This way you are using your time in a way that lines up with your goals.


THERE IS NO TIME

LIKE THE PRESENT

If you have recently felt like you are always running out

of time, that you have no time for yourself or that you

cannot work on the important things in life because

you are just chasing your tail every day, then you may

need to look at how you are using your time.

Making a list of what you need to do and prioritizing it is a great

start. By setting realistic daily goals and allocating time to the most

important things first, you will find that you can make the best use of

your time.

Plan for the unexpected and align your time with what is important

to you. Don’t burn out chasing things that will not benefit you. By

looking at how you are using your time, you may even be able to find

some hidden time to get additional things done.

Time is our most precious resource. While you can always make more

money, you cannot make more time. So, use it wisely.

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DEBT REVIEW

LESSON #2

If you miss a debt review payment then your

credit providers have the legal right to stop

helping you through debt review and to start

new legal action.

Never miss a debt repayment.

BEWARE

BLACK FRIDAY

HYSTERIA

We all love a good bargain. The people at the big brand

stores know you do, and are preparing to cash in on

your Black Friday hysteria FOMO (fear of missing out).

There is a saying: "What the eyes see, the heart wants".

Yes, marketers know they need to get you looking at specials and

discounts. So, they flood your inbox and social media with adverts for

nice things. Things that you probably would like to own but may not

really need right.

If they show it to you over and over again with flashing pop-ups that

says things like: ‘Sale!’ ‘Never To Be Repeated’, Prices Slashed’ you

may just be persuaded to part with your hard earned cash.

At this time of year, retailers are desperate to make some sales, they

may indeed begin to lower their profit margins. So, there may indeed

be some good deals. The challenge for those who are sticking to a

monthly budget is to see if they have already set aside the funds to

make such a purchases.

It would be foolish to miss or short pay on a debt review repayment,

for example, to splash out on a new TV only to end up having their

entire debt review fall apart. This could result in losing more than the

fancy new TV.

Often, at this time of year, one retailer may claim to offer an amazing

special with a huge discount, whereas, the same item is offered by

another retailer for the same price, and sometimes even cheaper. So,

be cautious, shop around, shop with your head and not your heart,

and stick within your budget (or what you have already saved toward

such a purchase).

Remember there will be another Black Friday next year, and the

next, and the next. Beware of being swept along in the Black Friday

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THE WORLD’S

BIGGEST

TAX FRAUD

SCHEME EVER

THE WORLD’S BIGGEST TAX FRAUD SCHEME EVER

JUST A LITTLE OFF

THE TOP...

Over a thousand people around the world are

currently being investigated in what is being called the

biggest tax fraud case ever.

The fraud may have cost the European Revenue Service (who are like

SARS but for Europe) more than 55 Billion Euros between 2007 and

2012.

You may wonder what that looks like in Rands. Well, if your brain can

process such a big number, it is around R950 000 000 000. Yes, that is

950 thousand million…

The supposed fraud involves buying and selling shares rapidly to different

people who are part of the scheme. Then the members of the syndicate

would claim back a withholding tax on dividends, and here is where it

gets dodgy…they would claim twice because of a “loophole” that existed

at the time.


LOOPHOLES AND

BAD INTENTIONS

The supposed loophole existed because, at that time,

there was an interpretation of the tax code which

appeared to allow multiple people to claim ownership

of the very same shares. So, more than one person

could claim a refund on tax that was paid once.

Prosecutors say that those who were involved (doing these trades over

the years and these multiple claims) knew exactly what they were doing

was wrong, and were doing it with the specific objective of enriching

themselves.

Mr. Hanno Berger (who came up with the scheme, and seems to have

led the group involved in such double rebate claims) says his actions

were allowed by the loophole, and were within the law. He does not feel

he did anything wrong and merely used the system, as it existed at the

time, to benefit himself in a way that was allowed.

Now that the interpretation of the law has changed, he no longer does

any such double claims. Mr. Hanno Berger was finally extradited from

Switzerland in July this year and arrested.


VARIOUS BANKS

IMPLICATED

Leaked documents about the investigation, which

have since become public, feature allegations towards

employees at many international banks, including

Investec. The part of the overall Investec brand that

operates in the UK (and Ireland in particular) has been

in the German prosecutor’s target site for years, since

the supposed fraud was first discovered.

It seems that, according to reports on the matter, Investec gave lots of

short loans of between EUR100 000 000 and EUR340 000 000 for the

trades that resulted in the double rebate claims.

These loans and trades were happening again and again, and it has also

been said that sometimes Investec themselves would act as a broker,

and even carry out some of the trades involved.

Allegations exist that management at Investec plc, might have been

active in facilitating the fraud which took place. Investigations are

happening into who exactly at the brand was aware of what, and who

authorised these loans and trades.


HOLDING PEOPLE

ACCOUNTABLE

Authorities have now eventually begun the lengthy

process of charging those involved. Arrests and

prosecution will no doubt continue over the

foreseeable future since so many parties are involved

from all around the world.

Investec in SA have been quick to point out the distinction between the

arms of the overall Investec brand, saying that they were not involved.

They have also mentioned that Investec itself is investigating the

matter internally and are cooperating with the investigation by outside

authorities.

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WHY A DEBT

COUNSELLOR

CAN GET

DEREGISTERED

WHY A DEBT COUNSELLOR CAN GET DEREGISTERED

PROFESSIONAL DUTY

A Debt Counsellor has a serious duty to their clients.

As professional counsellors they have to ensure their

client’s rights, under the National Credit Act, are

protected, and to ensure that they properly assist

people through the debt counselling process.

The National Credit Act (NCA) and regulations set out the duties a Debt

Counsellor has to fulfill. The NCA also makes provision for the National

Credit Regulator (NCR) to take a Debt Counsellor to the National

Consumer Tribunal, if they fail to do their job properly.

The National Consumer Tribunal (NCT) is able to issue large fines, or

even take away the registration of a Debt Counsellor, if they find that

the Debt Counsellor has not been doing their job or sticking to the

regulations. This means the Debt Counsellor can no longer practice, and

this often results in the NCR choosing a different Debt Counsellor for the

innocent clients.


MISTAKES AND

SLOPPY WORK

So, why might a Debt Counsellor find themselves in

trouble with the Regulator and dragged before the

Tribunal?

If a consumer complains to the NCR about a Debt Counsellor, then the

NCR is allowed to investigate that Debt Counsellor and see if there is a

real issue.

If the Debt Counsellor skipped steps or messed up the process, then

they could end up in a lot of trouble.

In the past, when the NCR has taken Debt Counsellors to the NCT

because of complaints, the points raised have often been technical,

like what specific day a form was sent, or how many days were there

between doing X and Y as required by the National Credit Act.

In some cases, the NCR has raised points that relate to guidelines that

they themselves have issued (not the Act or regulations).

Over the years, a small number of Debt Counsellors have been fined, and

some have even been removed from practicing. Although this is a small

number it can happen.

WHY A DEBT COUNSELLOR CAN GET DEREGISTERED

SA CREDIT

SOLUTIONS

Recently, one Debt Counsellor, who had previously

been issued with a R250 000 fine, ended up in trouble

with the NCT again. This was because of 4 consumer

complaints from 2017 that the NCR investigated. The

NCR investigated and found that the Debt Counsellor

had been making mistakes and not sticking to their

guidelines and the Act.

In this case, the NCR found that the Debt Counsellor often sent

two forms (a 17.1 and 17.2) on the same day without waiting to get

information back from the clients’ credit providers. Instead, the Debt

Counsellor just relied on information from the credit bureaus.

The Tribunal also heard how some consumers, who asked for help had

been told they have 48 hours to consider entering the process but that

the Debt Counsellor had registered the consumer on the NCR’s database

as already applying for debt review.

The Debt Counsellor had also not sent the Regulator statistics every 3

months as they are required to do.

Other concerns related to accepting legal fees, as per the NCR’s fee

guideline for legal work that had not yet taken place, even though

sufficient time had passed.

In one consumer’s case, the bank had not received payments with the

accurate account number, and as a result, the bank used the opportunity

to take the consumers car away and sell it on auction.

All of these errors (and more) resulted in the NCT saying that the Debt

Counsellor must stop practicing. They also issued a big fine of R350 000,

and said that the Debt Counsellor had to bring in an auditor and report

on various matters and refund clients for many of the fees they had

received over the years.


CONSUMERS CAN

COMPLAIN, IF THERE

ARE PROBLEMS

Now you may not want your Debt Counsellor to lose

their business, home and livelihood because of your

complaint, but at the same time, you have the right to

receive good service and assistance.

If you have not been getting the level of service that you want, then you

are able to complain to your Debt Counsellor. You should let them know

that you are unhappy or worried.

Many people make the mistake of complaining to everyone except

the Debt Counsellor. That does not help. Often they will complain to

an administrative staff member at the Debt Counsellor’s practice. Or

they may go onto Hello Peter and complain, or even go directly to the

Regulator before even speaking to the Debt Counsellor.

If you have a concern, then first talk to your Debt Counsellor.

Some consumers are not very involved in their own debt review, and

embarrassingly don’t even know their Debt Counsellor’s name. Be sure

that you know who your Debt Counsellor is, and how to reach them

directly. Speak to them and discuss any challenges that come up.

For example, you may be getting harassed by a credit provider. This is

obviously not the Debt Counsellor’s fault, but they can help you lodge a

formal complaint at the credit provider or collection agent’s company or

association. If that is ignored they can help you lodge a complaint with

the NCR.

Your Debt Counsellor will be able to guide you through many difficult

situations, but only if you communicate regularly with them.


WHEN YOUR DEBT

COUNSELLOR JUST

WON’T HELP

If you are not getting any help from your Debt

Counsellor, despite asking many times (and when

they are not doing what they should) then you can

complain to the association they belong to, or even

the NCR.

Hopefully this will see the situation sorted out promptly (and not taking

years and years). When it comes to dealing with debt, you are talking

about your financial future. So, it is important to get the full protection of

the National Credit Act and debt counselling.

Bad Debt Counsellors have no place in the industry, and are no better

than illegal debt mediators who are full of empty promises.

You deserve the best help and professional advice. So, make sure to

communicate with your Debt Counsellor regularly, and even complain if

they are making mistakes or refusing to help you.

We appear in the following courts and act as a correspondent for Dc’s

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Please contact adri@kempdebruyn.co.za to

enquire about our fees.

+27 (21) 200 5644

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21 Station Street, Paarl, 7646

DEBT REVIEW

LESSON #3

Debt review is a great time to make big

changes that are needed in your life. It is a

fresh start.

Take advantage of this time to make

changes and improve all parts of your life.

What if...

YOUR CLIENT’S VEHICLE IS STOLEN OR WRITTEN OFF?

• Is he properly insured?

• Could the insurer repudiate the claim

due to his debt review status?

• Since he cannot get more credit,

how does he replace his vehicle?

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MAXIMISING INSURANCE RELATED INCOME

PARTNERSHIPS

How does the partnership between Meliorleaf and Debt

Counsellors work?

We keep you advised regarding your clients to ensure they are

covered properly, and remain covered.

We regularly remunerate you, depending on what you choose to

do:

Some debt counsellors want to be actively involved in

arranging and managing insurance relationships, and we

equally share commissions earned.

Some debt counsellors are registered Financial Services

Providers who can advise their clients and provide a full

brokering service, thereby being entitled to earn the full

commission.

Meliorleaf understands that some debt counsellors cannot, or do

not want to be actively involved, but still want their clients to be

properly insured:

For these debt counsellors, Meliorleaf can offer a fully

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you with ongoing remuneration on all active policies.

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Members can join us

on Facebook as well

discuss the latest court

case rulings, industry

challenges and more

www.allprodc.org

Debt Counsellors Collective

The iDDC would like to hear

from members and other

DCs about the struggles they

face and continue to face as a

consequence of the lockdown.

What issues need to be escalated

to the NCR?

If you would

the BDCF ple

HE

Join us on the DCASA

Members Facebook Page:

One of the fastest ways

to engage with other

members for advice, tips,

credit provider contact info

and more.

www.dcasa.co.za

like to join

ase email us

RE

NDCA are ready to help

consumers who are

struggling with debt.

Visit our site for more

information

ndca.org.za

A LEGAL VIEW

WHAT’S WRONG

WITH FORM 17.3S?

The Problem with Form 17.3 Is it Doesn’t Really Exist

The NCR, to their credit, has recently been very

proactive within the debt review space by issuing

guidelines regularly and hosting webinars on various

aspects surrounding debt review. These have been

helpful for consumers, Debt Counsellors and credit

providers.

One of the guidelines the NCR published is about the Form 17.3 for

change in circumstances. The guideline is extensive and provides

much needed clarity for Debt Counsellors who are assisting

consumers who are experiencing changes in their circumstances that

effects their monthly payments to credit providers.

The problem with this guideline is that it is not legally binding on

credit providers. A further problem is the guideline refers to a Form

17.3 that simply does not exist anywhere in the National Credit Act or

its Regulations. Go have a look. You won’t find it.

What is a Form 17.3?

The idea around Form 17.3 was that when a consumer is experiencing

a change in circumstances, maybe due to some unplanned

emergency, the Debt Counsellor may inform the credit providers with

the relevant Form (17.3) of the change and request that payments to

the credit providers be reduced or reduced for a certain period.

For example, this might be a consumer who is going on maternity

leave for 4 months and will only be earning UIF in this period.

The Debt Counsellor will then complete Form 17.3 explaining the

situation and request that credit providers do not take any legal steps

during this period where they will not be getting their usual planned

payments or letting them know that the payments will be less than

usual.

Learning from Problems with the Old 17.4

The idea around the Form 17.3 is noble but unfortunately it does not

solve the problem it is supposed to address and in its current form a

A LEGAL VIEW

Debt Counsellor could just as well send these notifications on a postit

note because it will, legally, have the same effect.

This conclusion was confirmed years ago in the matter of Rougier v

Nedbank Ltd 27333/2010 wherein the court stated that the old very

similar Form 17.4 (which permitted a Debt Counsellor to withdraw

from a consumer) did not legally exist and that there was, in actual

fact, no mechanism in the NCA or its regulations that allowed it.

The position would be exactly the same if a credit provider does not

accept a Form 17.3 and a Debt Counsellor would not be able to go to

court and rely on the Form 17.3 for any sort of official or legal relief.

The Law

South African law has, inter alia, the following sources namely

the Constitution, Legislation, Case Law and Common Law which

contributes to the law as we know it.

These sources make up our law and any other source, like a

guideline, will not be enforceable if it is not also found in one of the

abovementioned sources.

It is further trite law that a regulation or guideline cannot be used to

interpret or amend the governing statute (National Commissioner of

Police and Another v Gun Owners of South Africa (561/2019) [ZASCA]

88 (23 July 2020) para 44).

Are Desperate Consumers being Left Legally Exposed?

Case law has repeatedly made it clear that a guideline is not

enforceable and that parties always have to refer back to the Act and

legislation when determining any issue.

One of the only places where these guidelines seem to carry weight is

at the NCT when Debt Counsellors are in trouble with the Regulator

and they ask the NCT to fine the Debt Counsellor. In many of

those cases the NCT has referenced guidelines issued by the NCR.

However, the Magistrates Courts and High Courts do not seem to be

as in love with these guidelines as the NCT.

Seeing as the Form 17.3 is not currently in the Act or any Regulations

it is of no force and effect, legally speaking. A Form such as the Form

17.3 could, and should, however serve a very important purpose in the

debt review process. It is something that is desperately needed.

Many consumers experience some sort of change in circumstances

that effects their payment at some point during debt review. With

a big push towards annual reviews the industry is going to need

effective methods to reduce the payments originally planned towards

debts through debt review. If this is possible, without resorting to

court each year, that will be a great financial relief to consumers.

Unfortunately, for the moment these consumers have no such

protection offered to them by the NCA. This means that many of

them will eventually stop making payment through the debt review

process because of this glaring omission in the NCA.

All this begs the question: Has the time come to finally formalise role

of the Form 17.3 by way of legislation?

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jusndlaorneys.co.za

Liddles & Associates

“It always seems impossible until it

is done” N. Mandela

(T) 021 930 5790

(F) 0866070940

(E) frontdesk@liddles.co.za

www.liddles.co.za

Steyn Coetzee Attorneys /

Prokureurs

Adri de Bruyn

11 Market Street / Markstraat 11,

Paarl, 7646

Tel: 021 872 1968

Fax: 021 872 2678

adri@steyncoetzee.co.za

RM Brown and Associates



Cape Town

Tel: 021 202 1111, f: 021 425 0875

Email: roger@rmbrown.co.za

082 974 0866

We are a Port Elizabeth based law firm

capable of assisting Debt Counsellor’s

throughout South Africa with matters

within the following

carla@cvlaw.co.za

areas of jurisdiction:

Port Elizabeth;

New Brighton;

Motherwell;

Uitenhage;

Hankey;

Jeffreys Bay; and

Humansdorp

Your Debt Counselling Attorneys

Johannesburg | Cape Town

Andre Van Zyl

021 494 4862

info@bassonvanzyl.com

082

www.cvlaw.co.za

974 0866

carla@cvlaw.co.za

www.cvlaw.co.za

www.bassonvanzyl.com

EMAIL

yolande@ydeattorneys.co.za

CELL

071 870 9535

TEL

061 250 4080

www.embattorneys.co.za

Accountability Group

wendy@accountability.co.za

Bitventure Consulting

compliance@bitventure.co.za

South African Fraud

Prevention Service NPC

Blue Oak Systems

enquiry@blueoak.co.za

Cession Central

admin@cession.co.za

CREDIT

BUREAUS

011 867 2234

maigoshians@safps.org.za

www.safps.org.za

Clearscore

regulatory@clearscore.co.za

Clicknhire

christiel@clicknhire.co.za

Consumer Profile

Bureau

marina@cpbonline.co.za

Credit Bureau Association

Credit Gateway

compliance@creditgateway.

co.za

Cred-IT-Data Online

Holdings

bureau@creditdata.co.za

info@cba.co.za

www.cba.co.za

CreditWatch

marina@cpbonline.co.za

CrossCheck

Information Bureau

marina@crosscheckonline.

co.za

Effective Intelligence

sardagh@e-intelligence.com

Fides Cloud

Technologies

craig@fidescloud.co.za

Finch Technologies

chris@finchinvestments.co.za

I-Bureau Services

abrie@ibureau.services

IDR South Africa

shane@v-report.co.za

iFacts

sonya@ifacts.co.za

Inoxico

support@inoxico.com

Kudough Credit

Solutions

chrisjvr@kudough.co.za

Lexisnexis Risk

Management

kim.bastick@lexisnexis.co.za

Lightstone

chrisb@lightstone.co.za

Loyal1

tshepiso@loyal1.co.za

Managed Integrity

Evaluation

marelizeu@mie.co.za

Maris IT Development

marius@marisit.co.za

National Validation

Services

info@nvs-sa.co.za

Octagon Business

Solutions

gregb@octogon.co.za

Omnisol Information

Technology

info@verifyid.co.za

Payprop Capital

johette.smuts@payprop.co.za

PBSA

seanb@PBSA.CO.ZA

Right Cover Online

cto@rightcover.co.za

Searchworks 360

skumandan@searchworks360.

co.za

Smart Information

Bureau

info@smartbureau.net

ThisisMe

juan@thisisme.com

TPN Group

michelle@tpn.co.za

Trans Africa Credit

Bureau

clintonc@transafricacb.co.za

Transaction Capital

Credit Health

DavidD1@tcriskservices.co.za

VeriCred Credit Bureau

sumein@vccb.co.za

WeconnectU

johann@weconnectu.co.za

Zoia Consulting

sipho@dots.africa

PAYMENT

DISTRIBUTION

AGENCIES

COLLECTNET

+27 12 140 0602

DC Partner

044 873 4530

Hyphen PDA

011 303 0060

012 004 2888

SYSTEM PROVIDERS

FINWISE - INNOVATIVE DEBT M

Tel: 011 451 0041

Tel: 0860 072 768

www.maxpayments.co.za

Debt Review Software

Tel: 016 004 0031

South Africa’s premier

debt management solution

www.finwise.biz

•

•

•

•

•

‘’ I was pleasantly surprised by our experien

new system is intuitive and e

Debt counsellor Eas

Mrs. Cindy Mauritz will be heading up the debt review department and will be supported by Miss

Meghan Bruiners and Mrs. Fika Snyders in their capacity as Team Leaders.

We have updated our communication and escalation channels in this regard.

Please refer to the communication channels listed in tables 1 and 2 below. It is important that

documentation be send to the correct communication channels to ensure timeous feedback.

CAPITEC CONTACT DETAILS

Table 1: Debt Review communication channels

Channel Description E-mail address

1 Form 17’s All Forms 17’s / ccsforms17@capitecbank.co.za

Clearance Certificates

2 Proposals All Proposals ccsproposals@capitecbank.co.za

3 Court documents All Court documents ccsdebtrevieworders@capitecbank.co.za

(Notice of Motion’s /

NCT applications /

Orders)

4 Terminations Termination queries debtreviewterminations@capitecbank.co.za

5 General enquiries General Debt Review ccsdebtreviewqueries@capitecbank.co.za

Enquiries

6 Refund / Cancellation

requests

Debt Review Refund

Requests and

Cancellation of Debit

Orders

ccsrefundrequests@capitecbank.co.za

7 Insurance Certificates Replacement Insurance

Policies

8 Reckless Lending Allegation of reckless

Queries

lending and document

requests

9 Credit Insurance Claims All credit insurance

claims

10 Payment allocations Payment Allocations

11 Share Call Contact

number

queries

insurancepolicies@capitecbank.co.za

Rmcontrol@capitecbank.co.za

CreditInsuranceClaims@capitecbank.co.za

ccsdebtreviewpaymentqueries@capitecbank.co.za

086 066 7783 Option 2

Debt Review DepartmentEmail Address

Turnaround Time

Contact Details Standard Bank Debt Review

Debt Review Call Center: 0861 111 525 or 0861 111 402

Debt Review Documents*:

DRApplications@standardbank.co.za

Debt Review Service requests: debtreviewservices@standardbank.co.za 5 days

Debt Review payment queries: DRPayments@standardbank.co.za 7 days

Debt Review administrative requests**: DebtReviewAdmin@standardbank.co.za 5 days

Debt Review complaints and escalations: debtreviewcomplaints@standardbank.co.za 5 days

Reckless Lending Allegations

recklesslendingallegations@standardbank.co.za

*Debt Review documents: Form 17.1; Form 17.2; Proposals; Court Applications; Court Orders

**Debt Review Admin related requests: debit order cancellations; statement requests ; refunds; paid up

letters; account closure instructions; settlement balances; or outstanding balances

Other Standard Bank areas

Credit Card 086120 1000

Diners Club 0113588400 / 0860346377

Vehicle Asset Finance Recoveries 0861102347

Vehicle Asset Finance Collections 0861102347

Home Loans Pre Legal 0860102270

Home Loans Customer Service 0860123001

Standard Bank Insurance 0860123911

Deceased Estates 0861001868

Email addresses that will be terminated effective 1 November

Ÿ DRCOB@absa.co.za

Ÿ DRProposals@absa.co.za

Ÿ 17.4@absa.co.za

Ÿ Courtapp@absa.co.za

Ÿ DCClearanceCertificate@absa.co.za

Ÿ DCTransfer@absa.co.za

The email address that should be used from 1 November 202

Ÿ ABSADebtReviewDocuments@absa.africa

0861 005 901 ABSADebtReviewDoc

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

Absa idirect’s FSP 34766

Absa Insurance Company’s FSP 8030

2021, are:

1 for all process-related documents, is:

uments@absa.africa

debtreviewqueries@absa.co.za

DC QUERY PROCESS

NEDBANK DRRS

Debt Counselling Query Resolution Contact Points and Escalation Options

Fax or Email submissions (Level1)

Email: DebtCounsellingQueries@nedbank.co.za

Fax: 010 251 0055

To be used as a first point of contact for all

written communication

Call centre (Level 1: Alternative)

Tel: 0860 109 279

To be used as a first point of contact for

all telephonic communication

Attended to by Queries Team Leader

(Level 2: First Escalation)

Dcescalation1@nedbank.co.za

To be used only where no resolution is

found from first point of contact after

5 business days

Attended to by Senior Manager

(Level 3: Final escalation)

Dcescalation2@nedbank.co.za

To be used only where no resolution

is found from the first escalation after

2 Business days

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

Debtfree Magazine Issue 10 of 2021

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