Debtfree Magazine issue #12 of 2021
SA's Free Magazine about dealing with debt, debt counselling, debt review and more. This month we look both back and forward as we review 2021 and what we can learn from the tough year.
SA's Free Magazine about dealing with debt, debt counselling, debt review and more. This month we look both back and forward as we review 2021 and what we can learn from the tough year.
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DEBT COUNSELLING – THE NOBLE PROFESSION
ANSWERING
THE CALL
Since 2007, when the National Credit Act came into
effect, thousands of people have registered with the
National Credit Regulator (NCR) as Debt Counsellors.
Over the years the NCR have vetted and registered around 3000
different people across SA as Debt Counsellors. Unlike credit
providers, credit bureaus or Payment Distribution Agents (PDAs)
Debt Counsellors are not registered as companies but rather as lone
individuals who have the necessary experience and training to assist
financially stressed consumers.
And let’s be clear, ever since 2007 there has been no shortage of
people in financial distress. The world had hardly recovered from the
2008 great recession before Covid-19 hit in 2020.
Thousands of distressed consumers who were trapped in the rather
horrible collections process facing harassment or the loss of assets
have been able to turn to experts for help.
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