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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TALK IS CHEAP MUCH CHEAPER THAN GOING TO COURT
ALTERNATIVE
DISPUTE
RESOLUTION
When parties have a dispute about a matter that falls
under the National Credit Act (eg. there is a dispute
about certain fees on an account or the balance
showing on a credit account) then consumers
can engage the services of an Alternative Dispute
Resolution Agent.
Now this is not debt review, or debt counselling because that covers
when someone is unable to pay several credit providers what they are
demanding. Alternative dispute resolution is more related to a single debt
or dispute.
ADRAs have yet to find their place in the market, but they are able to
help sort out a dispute between a credit provider and a consumer. If
the consumer has debt they can’t pay, then they will be pointed to a
Debt Counsellor instead. Many feel that there is a lot of room for Debt
Counsellors and ADRAs to work together, when end balance disputes
arise, or if consumers are not being given statements or original
documentation.
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