Debtfree Magazine August 2018
SA's Free Debt Counselling & Debt Review Industry Magazine. News, Interviews, Advice and a detailed look at Reckless Lending
SA's Free Debt Counselling & Debt Review Industry Magazine. News, Interviews, Advice and a detailed look at Reckless Lending
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SOUTH AFRICA’S DEBT COUNSELLING MAGAZINE<br />
RECKLESS<br />
LENDING<br />
ARE YOU A VICTIM?<br />
<strong>August</strong> <strong>2018</strong><br />
www.debtfreedigi.co.za
5
Why won’t this winter ever<br />
end? It’s almost spring already.<br />
Seriously! It just feels like things<br />
are dragging their heels. At the<br />
same time, the year is almost ¾<br />
done. Can you believe that? Time<br />
sure flies when you are busy and<br />
cold. If the Debt Review Awards<br />
signal the middle of the year to<br />
the industry, then the DCASA<br />
Conference, which was held in<br />
<strong>August</strong>, signals that we have very<br />
little year left. Before we realize<br />
it December will be upon us and<br />
then the dreaded January cash<br />
crunch. So, watch out!<br />
This month we are looking at the topic<br />
of reckless lending. No, not ‘reckless<br />
borrowing’ - where consumers go<br />
and try get a loan they know they<br />
can’t really afford. That’s a whole<br />
different ball game and a topic for<br />
another day. Rather, we are looking<br />
at things from a mainly credit<br />
provider perspective. We explain<br />
what reckless credit is and why<br />
some consumers actually have their<br />
debts written off. Could you be one<br />
of those people? Now getting debt<br />
written off may sound fantastic but it<br />
is not easy to establish if something<br />
is or isn’t actually reckless. These<br />
matters are so sensitive they actually<br />
have to be decided by a Judge or<br />
Magistrate. We discuss why that is<br />
the case and also why consumers<br />
need to rely heavily on their Debt<br />
Counsellors when this topic comes<br />
up.<br />
We also have a bunch of recent<br />
industry and economy news, articles<br />
with consumer advice, interviews<br />
with some new role players within the<br />
industry and some very interesting<br />
court cases which could directly<br />
impact on your debt.<br />
For those who did not get to attend<br />
the recent Debt Counsellors of South<br />
Africa annual conference we get a<br />
quick round up of the day and what<br />
was said and who was there (or not<br />
there). The event is one of the largest<br />
meetings of Debt Counsellors each<br />
year and was once again well<br />
attended this year. The rather hot<br />
topic of Debt Intervention came up<br />
and you probably want to check out<br />
what was said about that (hint: it<br />
wasn’t too optimistic).
The debt review process, much like<br />
the year, starts off like a rocket, with<br />
lots of changes and excitement. Over<br />
time, however, things seem to slow<br />
down and start dragging on and on<br />
without any end in sight. Don’t be<br />
fooled though.<br />
FROM<br />
THE<br />
E<br />
Each month is taking you closer and<br />
closer to the end of the process. You<br />
might not be too aware of it but the<br />
end of the process can roll up on<br />
you suddenly and much like spring<br />
might be here before you realize it.<br />
D<br />
IT<br />
O<br />
R<br />
So, keep on ‘keeping on’. Make<br />
those debt review payments. Learn<br />
more about the process and how to<br />
manage your finances and before<br />
you know it you will be basking in<br />
the warmth of finally being totally<br />
debt free.
RECKLESS CREDIT<br />
C<br />
O<br />
NTENTS<br />
JOB<br />
HUNTING<br />
PDA<br />
PROFILE<br />
NEWS<br />
SERVICE<br />
DIRECTORY<br />
DISCLAIMER<br />
<strong>Debtfree</strong> <strong>Magazine</strong> considers its sources reliable<br />
and verifies as much information as possible.<br />
However, reporting inaccuracies can occur,<br />
consequently readers using this information do<br />
so at their own risk. <strong>Debtfree</strong> <strong>Magazine</strong> makes<br />
content available with the understanding that<br />
the publisher is not rendering legal services or<br />
financial advice. Although persons and companies<br />
mentioned herein are believed to be reputable,<br />
neither <strong>Debtfree</strong> <strong>Magazine</strong> nor any of its<br />
employees, sales executives or contributors accept<br />
any responsibility whatsoever for their activities.<br />
<strong>Debtfree</strong> <strong>Magazine</strong> contains material supplied to<br />
us by advertisers which does not necessarily reflect<br />
the views and opinions of the <strong>Debtfree</strong> <strong>Magazine</strong><br />
team. No person, organization or party can copy<br />
or re-produce the content on this site and/or<br />
magazine or any part of this publication without<br />
a written consent from the editors’ panel and the<br />
author of the content, as applicable. <strong>Debtfree</strong><br />
<strong>Magazine</strong>, authors and contributors reserve their<br />
rights with regards to copyright of their work.
JOB SEARCH ADVICE<br />
One of the reasons why many families have to enter debt review is<br />
because of one member of the family losing employment. When your<br />
income takes a serious knock it is hard to make ends meet, never<br />
mind pay all your creditors. Fortunately debt review can help during<br />
your hunt for new employment.<br />
But in an environment where 1 out of 4 are unemployed countrywide,<br />
competition for jobs can be tough. Here is some advice from job searching<br />
Guru Gerard Le Roux about looking for work and your daily routine while<br />
doing so:<br />
Job Hunting: Do you find it...<br />
Gutwrenching? Stressful? Panic inducing?<br />
Whether you are younger and still live at home or you’re an exec, with no<br />
current job, in your 50s, wondering if ‘this is it’ (but you’re not ready for<br />
that… not mentally and definitely not financially!), the question is:<br />
What can you do?<br />
How can you cope?
Whoever you are you can benefit by having a good routine.<br />
A good active routine is key to success. Not only in life in general but in<br />
having the right mindset for searching for new employment.<br />
Wake up early. Read something positive. Get some exercise. Eat healthy.<br />
Work on yourself. Remember the good you’ve done in the past. Create a<br />
very clear vision of what you want your future to be. Picture yourself making<br />
a difference. Embrace the feeling of being successful in achieving something<br />
meaningful. Feel it! Plan some home improvement or get going on a home<br />
organisation project. Help a charity on a Saturday morning. Tutor some kids<br />
in Maths.<br />
It’s hard. But you have to put one foot in front of the other. Do good stuff for<br />
you and do good stuff for others.<br />
The WORST thing you can possibly do is sit around the house in your pajamas<br />
and wait for the phone to ring, while surfing for jobs online.<br />
Check out Gerard’s Facebook page with lots of free stuff<br />
to help in your job search here:<br />
https://www.facebook.com/kickassjobsearch
RECKLESS<br />
LENDING<br />
ARE YOU A VICTIM?
RECKLESS<br />
LENDING<br />
When the National Credit Act was being drafted, credit providers<br />
panicked at a new provision in the act which addressed the practice<br />
of giving credit to consumers who could not realistically afford to<br />
repay it.<br />
New provisions were made to postpone or even write off the debt. Credit<br />
Providers were very concerned since, from the beginning of time, consumers<br />
have come to credit providers when they do not have enough money, not<br />
when they have nearly enough, and definitely can repay it over time. Most<br />
of the collections industry was dependant on consumers being given loans<br />
they would default on, and then making a huge profit off the collections<br />
process. Consumers who defaulted were liable for, not only legal and<br />
collections costs but, also extra fees and interest. This new provision was<br />
a game changer.
The end of 2006 and early 2007 saw a huge drive by credit providers to<br />
offer credit and credit limit increases to everyone they could get their hands<br />
on. To this day we have more credit users in South Africa than employed<br />
people. This is somewhat a testament to these last minute efforts.<br />
When the Act (NCA) came into effect, so did this provision. Thus credit<br />
granted before 2007 is not subject to this provision but all credit granted<br />
since is. Over a decade has passed and surprisingly not many high profile<br />
reckless lending cases have been heard. In fact, you may know a little<br />
about the topic but not be entirely sure what it is and how it works.<br />
Have you been a victim of reckless credit granting? What does this mean?<br />
Could you have your debts written off?<br />
DID YOU KNOW?<br />
If you were granted credit recklessly, it can be postponed or totally<br />
written off by a court. You would then not have to repay a cent more<br />
toward that debt. The court can also order that all the payments<br />
you already made be refunded to you. The National Consumer<br />
Tribunal can fine Credit Providers for granting credit recklessly.<br />
NOTE: It is important to acknowledge that credit providers have made<br />
big changes to try to avoid reckless credit since the NCA came into effect.<br />
In addition to this, the National Credit Regulator (and DTI) have pushed<br />
for stricter lending criteria and assessment requirements. Not all credit<br />
you cannot afford is “reckless”, and just because people become over<br />
indebted does not mean they were when they first gained access to credit.<br />
Things change, the unexpected happens and this is a common cause for<br />
consumers ending up in need of help or debt counselling.
RECKLESS CREDIT<br />
WHAT IS<br />
RECKLESS<br />
CREDIT?<br />
Credit is defined as “reckless” for a variety of reasons, not just if<br />
you can afford it or not. This is something many people forget. Here<br />
are some of the reasons as set out in the National Credit Act (&<br />
regulations):<br />
The consumer was given credit which the credit provider knew they<br />
could not realistically afford to repay.<br />
This is the big one. This is what most people think of when discussing this<br />
topic. A greedy or foolish sales agent at the credit provider gets all the<br />
consumers information and works out that the consumer is probably going<br />
to fail to make the required payments each month. Regardless, knowing<br />
the consumer will eventually default, the agent grants the credit.
Credit Providers have adjusted their computer systems to try to avoid this,<br />
but most times, these are open to some human manipulation to ‘get it<br />
to work’ regardless. A classic example was a credit provider whose staff,<br />
many times, captured customers monthly household running costs as R850/<br />
month regardless of the size of the family. This figure pleased the software<br />
and allowed the staff to grant credit, meet targets and earn commission<br />
(even though the consumers would later default).<br />
The consumer was given credit which the credit provider should have<br />
known they could not realistically afford to repay.<br />
When you apply for credit, the credit provider will ask you to share your<br />
monthly running costs with them. They will also draw a credit report and<br />
see who else you are paying each month. They will ask for proof (of some<br />
sort) of your income.<br />
Math’s then allows them to take your income (which they can see on your<br />
bank statements and payslip) and subtract your other debt repayments<br />
(which they can see on your credit report) as well as your monthly household<br />
running costs (which they can see from your bank statement and your<br />
application form).<br />
Even if you ‘fudge’ your figures a little on the form (hey, mistakes happen)<br />
the information they have access to, will show them whether you can afford<br />
the credit or not. If you can’t, and they grant the credit anyway, perhaps due<br />
to laziness in not checking the figures properly, then the credit is reckless.
RECKLESS CREDIT<br />
MYTH BUSTED:<br />
‘TOTAL DEFENSE’<br />
Many credit providers think that if you are not 100% honest or<br />
accurate in the form you fill in with them, that they have a ‘complete<br />
defense’ against reckless credit. This is simply not true.<br />
If they had enough info to check what you told them (even if slightly<br />
inaccurate) and grant you credit that you cannot afford then they made a<br />
mistake and breached the requirements of the NCA.<br />
Eg. A wife applies for new credit, not realizing her husband has run up secret<br />
debt due to his gambling habit. She hands in the requested documentation<br />
and completes the credit application form which asks about their other<br />
debts, but does not include the secret debt. She also forgets about their<br />
monthly insurance debit order which comes off her husband’s account.<br />
The credit provider draws a credit report on them and sees the extra hidden<br />
debt noticing it is not included in the list of debts she has mentioned.<br />
They also see the monthly insurance deduction on the husband’s bank<br />
statements.
If the calculations show that the couple cannot actually repay the new<br />
credit she is applying for, the credit provider should not grant the credit. If<br />
they do, based only on the incomplete figures which she gave them and<br />
not all the information they have, then the credit is reckless.
South Africa’s<br />
leading Debt Counsellors<br />
since 2007<br />
Start getting out<br />
of debt today!<br />
www.creditmatters.co.za<br />
Call our national<br />
call centre on<br />
086 111 6197
RECKLESS CREDIT<br />
UNDERSTANDING<br />
YOUR OBLIGATIONS<br />
Many consumers who default on bond or vehicle repayments are<br />
horrified that the creditor has the legal right to go to court and get<br />
a judgment, which ultimately allows them to not only to sell the<br />
asset but also collect on the left over debt for up to 30 years. This is<br />
because they never understood the agreement they were signing.<br />
A frequently overlooked reason why credit may be reckless is when the<br />
consumer did not fully understand the obligation they were taking on. This<br />
can happen for a variety of reasons.
The Pre Agreement (quote) and Credit Agreement (contract) may have<br />
been in a language that the consumer is not able to read well. Many<br />
times consumers are just too happy, and too desperate, to even read the<br />
contract. Some will sign the agreement even if it is in a language they<br />
cannot read. Others cannot read at all and yet will still sign, simply trusting<br />
that the credit provider knows best.<br />
Can you clearly define difficult terms like:<br />
Default;<br />
Litigation;<br />
Interest;<br />
Residential;<br />
Notification<br />
If not, then how could you fully understand and agree to a contract which<br />
uses these terms? The NCA (and other laws) requires that consumers<br />
actually understand what they are agreeing to if not, the account may be<br />
reckless.
SURE<br />
Credit ProteCtion – debt review<br />
Applied to go under debt review?<br />
Restructuring your monthly expenses?<br />
why not insure all your accounts on the one Credit Protection?<br />
benefits offered<br />
• death – we settle the account<br />
• temporary disability – we pay your<br />
installment for 12 months<br />
• Permanent disability – we settle<br />
the account<br />
• Critical illness – we pay your<br />
installment for 3 months<br />
• retrenchment – we pay your<br />
installment for 12 months<br />
At a rate of R2.95 per R1000<br />
unsecured/short-term credit<br />
and R2.00 per R1000 on<br />
Mortgages, you can now<br />
insure your debt for less<br />
without compromising on the<br />
best benefits available.<br />
For further information please<br />
speak to your Broker alternatively<br />
contact your regional ONE office.<br />
0861 266 562<br />
admin.debt@one.za.com<br />
TERMS & cONDITIONS APPLY<br />
ONE Insurance Underwriting Managers (PTY) LTD Reg No. 1996/008987/07<br />
Authorised Financial Services Provider FSP8783 VAT No. 4370160501<br />
Underwritten by:<br />
A Member of A member of the Group
RECKLESS CREDIT<br />
MISSING INFO<br />
OR SIGNATURES<br />
There are a number of other reasons which may make credit<br />
reckless such as: did the consumer actually get the legally required<br />
pre-agreement quote or not? Did the pre-agreement have all the<br />
information about all the costs included in it? Did they initial or<br />
sign the pre-agreement and/or the contract document. Were only<br />
some pages initialed and not others?<br />
These small but significant things also determine if credit was granted<br />
recklessly or not. It is not just about whether the consumer could afford<br />
the debt at the time or not. That is too simplistic and narrow a view of the<br />
requirements of the NCA.
RECKLESS CREDIT<br />
WILL YOUR DEBT<br />
BE WRITTEN OFF?<br />
When consumers apply for Debt Review then they can ask their Debt<br />
Counsellor to look for reckless credit.<br />
At present, the onus in the NCA is on the consumer to ask. If a Debt<br />
Counsellor investigates and finds something that looks suspicious they can<br />
approach the court with the information they have been able to gather,<br />
and ask the court what they think.<br />
NOTE: a Debt Counsellor does not find the matter to be reckless but rather<br />
can aver or suggest to the court that it may be reckless. The court is then<br />
empowered under the Act to find the credit reckless or not.<br />
Whenever any court in SA considers a matter about any credit agreement,<br />
they can have it investigated to see if it may be reckless.<br />
If a court finds the debt to be reckless, they have a few choices. Most<br />
consumers hope that the court will say that the debt no longer has to be
epaid, and perhaps even that the credit provider has to give back all the<br />
payments which have already been made. This can and has happened<br />
in the past. It is seen as a way that Credit Providers can be punished and<br />
taught not to grant credit recklessly again in the future.<br />
More frequently, however, many courts are now simply delaying repayment<br />
on these particular debts until the consumer’s other debts are repaid<br />
through debt review. Then payments on this reckless debt would start up<br />
again.
RECKLESS CREDIT<br />
WHY SO FEW<br />
RECKLESS<br />
CREDIT CASES?<br />
There have been one or two high profile cases where a pensioner<br />
ended up not having to pay off a bond, or where the National Credit<br />
Regulator severely punished a major bank but these cases are few<br />
and far between. Why?
Cost & Credit Provider<br />
Push Back<br />
Debt Counsellors find that as soon<br />
as they mention that an account<br />
could possibly be “reckless” then<br />
the credit provider sends a huge<br />
legal team and really delays and<br />
fights the debt review application<br />
in an effort to bury the matter. This<br />
means the consumer is unable to<br />
benefit fully from debt review and<br />
often prevents them from getting<br />
a court order to protect their other<br />
assets. It also means very big legal<br />
costs for the case. Debt Review<br />
consumers cannot readily afford<br />
these, especially if it is a small debt.<br />
Settling Out of Court<br />
Rather than extensive legal battles,<br />
many times a Credit Provider will<br />
make a brilliant offer on the possibly<br />
reckless account, or may even offer<br />
to write off the debt themselves<br />
rather than let the court rule on the<br />
matter (court cases are never cut<br />
and dry and things can always go<br />
either way). This is something Debt<br />
Counsellors also need to keep in<br />
mind. They do so because they do<br />
not want to face possible fines of<br />
a Million Rand at the NCT over a<br />
small credit amount.
Credit Providers May<br />
Not have the Original<br />
Documents<br />
Delayed Payments<br />
Remove the Incentive<br />
Some courts now delay payments<br />
on these reckless accounts. It may<br />
cost many thousands of rand to<br />
prove that a small debt is reckless<br />
and then the court simply delays<br />
payment. This means that the<br />
consumer ends up worse off than<br />
if they had simply paid the account<br />
normally through debt review (with<br />
the relevant discounts and benefits).<br />
Debt Counsellors and their clients<br />
are forced to analyze the cost to<br />
benefit ratio and make a choice.<br />
When Debt Counsellors ask for the<br />
original documents to see what the<br />
consumer did or didn’t sign, they<br />
are often met with silence or non<br />
cooperation. This could simply be<br />
because the credit providers cannot<br />
find or do not actually no longer have<br />
the original documents. Some have<br />
tried to pass off similar documents<br />
signed by other people at the time.<br />
Not too long ago, a huge bank in<br />
the USA got into huge trouble for<br />
providing fake contract documents,<br />
which a company in Mexico had<br />
made up for them. They simply no<br />
longer had the original documents.<br />
No documents equals no actual<br />
contract, this is scary for Credit<br />
Providers. When credit providers do<br />
not cooperate and provide these<br />
documents, it may be a sign that the<br />
agreement is reckless.
RECKLESS CREDIT<br />
INCENTIVIZING<br />
RECKLESS CREDIT<br />
INVESTIGATIONS<br />
One of the highest profile cases involved the NCR asking the NCT to<br />
fine African Bank, who had revealed what was happening at their<br />
Dundee branch where credit had been recklessly granted. The banks<br />
shares nose dived, the CEO quit and the bank folded within a short<br />
time.<br />
Then the whole issue of consumers losing their life savings came up, and<br />
the bank had to be shut down, split up and eventually relaunched as a new<br />
credit provider with the same name (and same staff and same branding).<br />
Other cases have not been as successful.<br />
Overall, Government has been disappointed that there have been so few<br />
reckless credit matters. They would like to see more.
The NCR recently made a bold move to try to get Debt Counsellors<br />
motivated to investigate reckless credit. Debt Counsellors reported to the<br />
NCR that a reckless credit application doubles the amount of time and<br />
resources required to do a debt review application. The NCR updated their<br />
suggestion on Debt Counselling Fees and included an amount of R1500<br />
to be paid to the Debt Counsellor if they investigate reckless credit.<br />
It is no surprise then that Debt Counsellors followed this cue from the<br />
Regulator, and began to do so even though this fee is small. There has<br />
since been a lot of complaints from credit providers over this, as some<br />
have received hundreds of requests for additional account information as<br />
a result. The big banks have tried to get the NCR to get Debt Counsellors<br />
not to ask them for information on accounts, as this is expensive for them<br />
to find and difficult for them to get. They have made several proposals at<br />
the Credit Industry Forum to try reduce these requests.<br />
DebtSafe, a debt counselling firm, reports in their quarterly Reckless<br />
Lending Indicator that they investigated 5591 cases between 1 April <strong>2018</strong><br />
and July <strong>2018</strong>. Their findings in those cases showed that as many as 40%<br />
may indeed be reckless. They report that they have really struggled to<br />
obtain many of the needed documents to fully clarify if this is the case or<br />
not.<br />
Note: The NCR has released a non binding opinion (or guideline) on<br />
their 2009 NCR Task Team Report which requires that every account<br />
in debt review be investigated for reckless regardless of whether the<br />
consumer asks for it or it appears to be dodgy. The NCR say each<br />
account must be investigated. Thus Debt Counsellors who decide to<br />
follow the NCR opinion will all be charging this fee on every matter.
RECKLESS CREDIT<br />
POTENTIAL<br />
AMENDMENTS<br />
TO THE NCA<br />
– RECKLESS<br />
LENDING<br />
Many consumers are as excited about the prospect of ‘Debt intervention’<br />
which may be included in the National Credit Act as they were many<br />
years ago about reckless credit. There is a wild hope that all their<br />
debts will be written off as was speculated about reckless lending.
One of the more worrisome parts of the new bill which has Debt Counsellors<br />
concerned, is that it may become a punishable offence (meaning fines or<br />
prison time) if they do not report any matter which may be reckless. As we<br />
have seen an account may be reckless for many reasons and not just if a<br />
consumer could not afford to repay the debt at the time.<br />
Did the consumer sign every page of the agreement? Did the Credit Provider<br />
actually draw a credit bureau report? Did the consumer understand every<br />
phrase in the agreement or not? If in doubt, Debt Counsellors may have<br />
to take the safe route and report that every account they see may in some<br />
way be reckless, but they were unable to make a full determination and<br />
recommendation with the info they had at the time.<br />
They would then have to report this to the NCR who would be swamped<br />
by thousands of such reports each month (anywhere from 70000 to 140<br />
000 reports each month). This would then bury the NCR in paper and<br />
pretty much defeat the actual intent of the bill. However, when faced with<br />
the choice between being reasonable or being 100% sure of not going to<br />
jail or being fined Debt Counsellors will make the obvious choice.<br />
Some experts say that if the draft bill becomes law, even more Debt<br />
Counsellors will leave the shrinking industry (over the last 2 years the NCR<br />
has reduced the amount of Debt Counsellors by 50%) as a result.
RECKLESS CREDIT<br />
HAVE YOU BEEN<br />
A VICTIM OF<br />
RECKLESS<br />
LENDING?<br />
It is entirely possible that some of your credit accounts may have<br />
been granted recklessly. This means that a court could order that<br />
this account be written off or the payments postponed.<br />
Though it seems that it is best to have each account investigated (and<br />
this could become the norm in the future) it could also result in legal<br />
fees which are much higher than you are able to financially cope with (in<br />
some cases as much as R25 000). In addition, the benefits could end up<br />
being minimal compared to the risks it brings to your overall debt review<br />
application. You could spend all that money, and run additional risks, just
to have payments postponed for a while or you could lose the case and<br />
end up having to pay the credit providers fancy lawyer’s bills. A balanced<br />
and practical approach to this topic is typically best.<br />
Your Debt Counsellor will know more about the particular credit providers<br />
involved, the court the matter will go to, and the likelihood of any benefit<br />
in investigating the account. If you ask for an investigation, it will of course<br />
happen, but it is good to rely on their experience and expertise in these<br />
matters and not to get your hopes up of an easy debt write off.
DEBT REVIEW<br />
SCHOOL<br />
Multiple Choice:<br />
In the Debt Review Industry:<br />
PDA stands for<br />
(a) Public Display of Affection<br />
(b) Payment Distribution Agency<br />
(answer on the next page)
Jothie Bechoo<br />
ATTORNEYS & DEBT<br />
COUNSELLOR<br />
Taking care of all your legal needs<br />
Specialising in Debt Review Applications<br />
for Debt Counsellors/Attorneys<br />
Our offices personally attends to debt<br />
review applications in the following<br />
courts:<br />
Durban<br />
Pinetown<br />
Chatsworth<br />
Verulam<br />
Ntuzuma<br />
We aim to have debt review orders<br />
granted at the first court appearance<br />
We avoid unnecessary adjournments<br />
Our fees are reasonable<br />
We have six years’ experience in Debt<br />
Review applications<br />
We assist clients in Rescission of Debt<br />
Review orders & administration orders<br />
Suite 7 Gladstone Court<br />
103 Smiso Nkwanyana [Goble] Road<br />
Morningside<br />
Durban<br />
Tel: 031 303 1004<br />
Mobile: 076 835 2810<br />
Email: jbechoo@jb-attorneys.co.za<br />
Also specializes in:<br />
Deceased Estates, Wills, Divorces, Ante Nuptial Contracts, Correspondent Attorney, Rescissions
DEBT REVIEW<br />
SCHOOL<br />
ANSWER:<br />
(B) Payment Distribution Agency.<br />
These firms are registered and<br />
checked on by the NCR (National<br />
Credit Regulator)<br />
and are part of the<br />
National Credit Act.
NEWS<br />
DEBT REVIEW<br />
AWARDS OPEN<br />
REGISTRATIONS &<br />
SUGGESTIONS<br />
The annual Debt Review<br />
Awards process for 2019 is<br />
now set to begin and as usual,<br />
NCR registered parties will all<br />
be considered. To be eligible<br />
to win however participants<br />
need to register. The annual<br />
Debt Review Awards peer<br />
review process allows those<br />
within the industry to weigh in<br />
on the performance of their<br />
counterparts on the opposite<br />
side of the industry on a<br />
number of occasions. These<br />
evaluations or Peer Reviews are<br />
then compiled (by an online<br />
system) into a composite overall<br />
result.<br />
If you have suggestions on ways<br />
that the Debt Review Awards<br />
process can be improved you<br />
can register and capture your<br />
suggestion at the end of the<br />
form. Over the years dozens of<br />
suggestions from the industry<br />
have been incorporated into<br />
the process and Awards event.<br />
Suggestions have seen the<br />
process transform from an<br />
industry panel of experts to an<br />
online peer review process,<br />
seen additional categories and<br />
Awards been added and even<br />
helped shape the criteria that<br />
are used to evaluate each NCR<br />
Registrant.<br />
The 2019 registration sign up<br />
can be found here:<br />
https://tinyurl.com/y8jjq8bg
DEBTSAFE REPORT<br />
40% OF ACCOUNTS<br />
RECKLESS<br />
DebtSafe is a nationally<br />
operating debt counselling firm<br />
with thousands of debt review<br />
clients. They have just released<br />
an interesting report on the<br />
state of reckless lending which<br />
shows that as much as 40%<br />
of all the credit accounts they<br />
have looked at recently may be<br />
reckless.<br />
Reckless credit is credit granted<br />
illegally to consumers who<br />
do not understand their<br />
obligations, do not receive all<br />
the information about their<br />
obligations or cannot afford to<br />
realistically repay the credit.<br />
Credit Providers can be heavily<br />
fined for granting credit<br />
recklessly and consumers can in<br />
some cases have their recklessly<br />
granted debt written off.<br />
DebtSafe reviewed thousands<br />
of client’s cases over the last 3<br />
months and of the over 5000<br />
accounts they looked into, over<br />
2000 appear to be reckless in<br />
one way or another.<br />
You can download the Report<br />
here:<br />
https://tinyurl.com/ybbuwl8q
DC PARTNER<br />
INTRODUCE NEW<br />
SUPPORT DESK<br />
NCA AMENDMENTS<br />
TAKE THE NEXT STEP<br />
Payment Distribution Agencies<br />
or PDAs are part of the<br />
National Credit Act and often<br />
help Debt Counsellors with<br />
software to manage their<br />
businesses and clients, as well<br />
as, calculate the best way to<br />
repay debts. One of the four<br />
NCR registered PDAs, DC<br />
Partner have now introduced<br />
additional support and training<br />
to Debt Counsellors and their<br />
staff who work on their system.<br />
DC Partner has set up a support<br />
desk specifically for Debt<br />
Counsellors (or their staff) to<br />
provide web based training via<br />
Skype. This allows the PDA to<br />
reach their many clients online<br />
swiftly and provide country wide<br />
training on an ongoing basis.<br />
The Portfolio Committee on<br />
Trade & Industry has been<br />
working on a way to deal<br />
with the growing need among<br />
millions of low income South<br />
Africans who are accessing<br />
credit and getting deeper<br />
and deeper into debt. They<br />
recently delivered a finalized<br />
amendment bill to the NCA<br />
which they feel will address<br />
this by creating something<br />
called Debt Intervention. The<br />
process is basically debt review<br />
done, for free, by the NCR for<br />
consumers who earn less than<br />
R7500 and have debt smaller<br />
than R50,000. The process<br />
also caters for those who are<br />
unemployed. The adopted bill<br />
now goes to the council of<br />
provinces and potentially on to<br />
the President.
KIM<br />
ARMFIELD<br />
AND ASSOCIATES<br />
DEBT REVIEW | CREDIT LAW | LITIGATION<br />
CONTRACTS | FAMILY LAW | WILLS & ESTATES<br />
Tel: 021 949 1758 | 084 702 3760<br />
info@legalwc.co.za | www.capeattorney.co.za
NCR ISSUE NEW DC<br />
CERTIFICATES<br />
BANKS IN TROUBLE<br />
AT COMPETITION<br />
TRIBUNAL<br />
The NCR recently began issuing<br />
Debt Counsellors with annual<br />
renewal certificates when they<br />
pay their annual fees. In the<br />
past there were some concerns<br />
and some mix ups in getting<br />
these certificates to everyone<br />
in time for their next court<br />
appearances.<br />
This year, the NCR has<br />
reportedly done a great job in<br />
emailing a digital version of<br />
the Debt Counsellors annual<br />
certificate on time and also<br />
mailing hard copies to all<br />
registrants promptly.<br />
When visiting a company<br />
offering debt restructuring<br />
assistance or dealing with<br />
one online ask to see their<br />
certificate of registration with<br />
the NCR to ensure you are<br />
dealing with a legal, NCR<br />
registered individual.<br />
30 different individuals working<br />
at 23 different banks have<br />
been accused of colluding to<br />
manipulate foreign exchange<br />
rates. These banks are now<br />
defending themselves before<br />
the Competition Tribunal<br />
against the Competition<br />
Commission who are looking<br />
to have these banks fined up to<br />
10% of their annual turnover.<br />
It has been said that the various<br />
banks made secret agreements<br />
on when to trade and when not<br />
to trade and buy currency from<br />
international currency trading<br />
platforms. They allegedly took<br />
turns to trade so that they could<br />
get the right price and it is<br />
alleged even created fake bids<br />
to manipulate the price of the<br />
Rand V Dollar. The case is set to<br />
begin at the end of <strong>August</strong> and<br />
run into September <strong>2018</strong>.
MELIORLEAF WON’T<br />
LOAD YOUR PREMIUMS<br />
OR REPUDIATE A<br />
LEGITIMATE CLAIM JUST<br />
BECAUSE YOU’RE IN<br />
DEBT REVIEW<br />
Specialist insurance for people in debt review.<br />
Ask your debt counsellor.<br />
CALL US NOW 0861 635 467<br />
www.meliorleaf.co.za
Die Republiek van<br />
SKYT AFRICA<br />
Hi Almal,<br />
Daar is al baie dinge in die verlede gesê oor hoe om geld te bespaar<br />
maar teen die tempo wat ons verarm deur die styging in lewenskoste<br />
soos elektrisiteit, water, brandstof en voedsel, dinge buite ons beheer,<br />
dink ek tog dit is n onderwerp wat weer bespreek kan word.<br />
Ek het op n facebook blad die vraag aan mense gestel, hoe bespaar julle?<br />
Is julle in die proses van besparing bereid om kwaliteit in te boet? Alhoewel<br />
hierdie groep in Pretoria is met die naam van EK IS VAN DIE OOSTE, is daar<br />
honderde sulke groepe in julle onderskeie omgewings waar julle inligting<br />
en idees kan uitruil. Opvallend was dat niemand mekaar gekritiseer het<br />
nie of opinie gehad het die ander persoon is n armgat nie. Die inligting<br />
en raad wat uitgeruil was, was opreg. En ja, kwaliteit was en is belangrik.<br />
Hier is van die insette:<br />
Riatha: Ek koop my skoonmaakmiddels by Westpack. Dis R40 vir 5L en<br />
doen presies dieselfde as die brand name. Katkos daar is R200 vir 10kg.
Eiers, room, kaas en mushrooms word by die boeremark gekoop. Die<br />
naby geleë Escort fabriek vir bacon en viennas. Koop koffie voor die 25st<br />
van die maand in die supermarkte want dit is dan op n special. Die maand<br />
was Nescafe R75 ipv R120. n Maandpak hamper vleis by die slaghuis is<br />
goedkoper.<br />
Ria: Soms is dit goedkoper om uit te eet as om vleis en groente te koop en<br />
elektrisiteit te gebruik om gaar te maak. O’Gallito’s se spesiale middagetes<br />
wissel van R80 – R110 per bord. Maak ook die kinders groot om nie soos<br />
die res oor “brands” bekommerd te wees nie.<br />
Bernice: Kan nie kruideniers koop nie. Koop genoeg paste en a paar<br />
blikkies tamatie en uie souse, brood en so nou en dan eiers. Gevriesde<br />
groente is die kleinste pakkies R11 wat ons in twee deel. Af en toe hoender<br />
borsies vir minder as R50.<br />
Ria se raad aan Bernice: Gaan kyk by FoodLovers daar is gereeld sakke<br />
gemengde groente vir goedkoop. Jy kan dit opsny en vries. Aartappels,<br />
rys en soppoeier rek enige gereg, die soppoeier is vullend en smaaklik.<br />
Pieter: Met GD10 Multipurpose Cleaner bespaar die gemiddelde<br />
huishouding R4800 per jaar op skoonmaakmiddels en kwaliteit word nie<br />
ingeboet nie.<br />
Jennifer: Ek koop Ackermanns, Truworths, Edgars of Woolworths se 50%<br />
uitverkoping op kinderklere vir volgende jaar se winter/somer want hulle<br />
groei so vinnig.<br />
Cathleen: Nog iets waarop ek bespaar waar die pryse gebiedsgebonde<br />
is, is n haarsny. In Villeria betaal ek vir n sny, kleur, strepies en blow wave<br />
R350. In die Ooste is die pryse belaglik. Jy kry nie noodwendig swakker<br />
diens omdat jy nie jou hare in n salon sny waar die huur R25 000 is nie.<br />
Da-Ina: Ek sny gereeld vleis uit. Groente hetsy gekook, gebak of gebraai<br />
is heerlik saam met kruie of kerrie.
Marinda: Ek het so n jaar terug vanaf die Ooste na Middelburg verhuis.<br />
MInce is R137kg hier en in Pretoria R85kg. Koop maar genoeg vleis<br />
wanneer ons Pretoria/Ooste toe gaan.<br />
Cathleen: Ek het vir die afgelope 8 jaar nie n bediende of tuinman nie.<br />
Gebruik tuindienste vir R650 per maand, tuinman sou R250 per dag kos<br />
uitgesluit taxi fooi en voedsel. Die take van n bediende tussen my kinders<br />
verdeel wat geroteer word. Dit wat ek aan n bediende sou betaal word<br />
aan die kinders betaal, nie eintlik n besparing nie maar dit leer my kinders<br />
hoe om te werk vir dit wat jy in die lewe wil hê. Nadat ek gehoor het pryse<br />
is gebiedsgebonde het ek meer uitgevind. My kruideniers vir 5 mense is<br />
tussen R4 500 en R5 000. By Shoprite in die Bougainville sentrum het<br />
dieselfde kruideniers my R3 000 gekos. R2 000 besparing vir 35 minute<br />
se ry. Groente vanaf Fruit Stop in Gesina en vleis direk van n boer, 21kg<br />
vir R1 400 verpak en afgelewer.<br />
Charles: Dstv afgesit en Netflix met uncapped internet gekry, n mens kan<br />
dus n kleiner bundle op jou foon vat. Skoonmaker kom elke 2de week<br />
ipv weekliks, dit is darem nie n hele dag se werk om self gou te vee of te<br />
stofsuig. Brandstof - gebruik Shell me Clicks clubcard en kry so n paar sent<br />
terug op n liter. Maak genoeg kos om die volgende dag werk toe te vat.<br />
Om op te som, praat met die mense in jou omgewing, sit n post op<br />
facebook en hoor waar en hoekom hulle koop. Vergelyk pryse en ry<br />
miskien n kilometer of twee verder, dit kan jou miskien duisende spaar.<br />
Dankie aan almal wat waardevolle raad gedeel het.<br />
Groete.<br />
Christo Hattingh<br />
Kyk gerus my LinkedIn profile:<br />
https://www.linkedin.com/in/christo-hattingh-351a52130/<br />
* Seriously please do let us know if you found this article to be<br />
funny/offensive/amusing/interesting feedback@debtfreedigi.co.za
DEBT REVIEW<br />
SCHOOL<br />
Establish connections with your<br />
Debt Counsellor in various ways<br />
(eg: Facebook, phone, website,<br />
physical office).<br />
This helps you stay in touch in<br />
case you lose their<br />
phone number or if they<br />
move.
Debt Counsellors Collective<br />
iDCC is waiting to hear back from<br />
the NCR in regard to our official<br />
request to join CIF.<br />
We encourage non-affiliated<br />
DCs to join.<br />
Listen to a great interview with<br />
Toby Chance MP, Shadow<br />
Minister for Small Business<br />
Development in SA. Toby is<br />
introducing new legislation that<br />
creates an Ombudsman for small<br />
businesses<br />
https://soundcloud.com/scottcundill/toby-chance-mp-and-the-neweconomic-rights-alliance<br />
A representative will be<br />
attending the meeting<br />
at parliament on Tues<br />
31 July <strong>2018</strong> where<br />
proposed amendments<br />
to the NCA will be<br />
discussed.<br />
www.allprodc.org
Visit our facebook page<br />
for more info.<br />
www.bdcf.co.za<br />
Free State Branch Meetings<br />
Kopano Nokeng Country Lodge,<br />
Date: 19th October <strong>2018</strong><br />
Gauteng Branch Meetings<br />
Kempton Park Golf Club<br />
Dates: 23rd October <strong>2018</strong><br />
KZN Branch Meetings<br />
Westville Country Club<br />
Dates: 26th October <strong>2018</strong><br />
Western Cape Branch Meetings<br />
Parow Golf Club<br />
Dates: 23rd October <strong>2018</strong><br />
NDCA continues to actively<br />
participate in industry<br />
forums, including the<br />
CIF, and looks forward<br />
to the implementation<br />
of proposed DCRS rule<br />
changes<br />
www.dcasa.co.za
We appear in the following courts and act as a correspondent for Dc’s<br />
and their attorneys.<br />
ATLANTIS<br />
BELLVILLE<br />
GOODWOOD<br />
CALEDON<br />
CAPE TOWN<br />
WYNBERG<br />
CERES<br />
GRABOUW<br />
HOPEFILED<br />
KHAYELITSHA<br />
KUILSRIVER<br />
MALEMSBURY<br />
MITCHELLS PLAIN<br />
MOORREESBURG<br />
PAARL<br />
PIKETBERG<br />
ROBERTSON<br />
SIMON’S TOWN<br />
SOMERSET WEST<br />
STELLENBOSCH<br />
STRAND<br />
TULBAGH<br />
WELLINGTON<br />
WORCESTER<br />
Please contact adri@kempdebruyn.co.za to<br />
enquire about our fees.<br />
<br />
<br />
<br />
+27 (21) 200 5644<br />
adri@kempdubruyn.co.za<br />
21 Station Street, Paarl, 7646
COURT MATTERS<br />
A number of important court cases are underway or have recently<br />
been held. We take a brief look at some of them and how they<br />
impact on the industry and debt review. Also be sure to download the<br />
latest version of the Magistrates Court Act at the end of this article.
University of Stellenbosch’s Law Clinic &<br />
Summit Take On Section 103(5)<br />
Back in 2016, Stellenbosch University’s Law Clinic and Summit<br />
Financial Partners helped a group of poor farm workers to get relief<br />
from their crushing EAOs (commonly called Garnishee orders). It<br />
was a landmark case that finally sparked change in how garnishee<br />
orders are handled. Subsequently, the Magistrates Court Act has<br />
actually been amended to make allowance for the refined processes<br />
suggested in that case.<br />
The basic idea of Section 103(5) Induplum is that when you owe<br />
someone money and default on payment, then this draws a line<br />
on how much they can recover from you in the future. The law says<br />
you only ever then have to pay double the defaulted amount. In the<br />
past, lawyers and credit providers really abused the old common law<br />
Induplum rule and people ended up paying many, many times more<br />
than double what they originally owed due to the wording of the law.<br />
Even now since the inception of the NCA some credit providers (and<br />
even courts) say that if you make a new arrangement to pay off a<br />
debt (like debt review) this ‘cures’ the default (even if you are paying<br />
a lot less than what you should). That then means they can carry<br />
on milking you for more and more payments and fees and interest<br />
as long as you pay something and don’t let the debt prescribe. This<br />
seems to defeat the fundamental purpose of the law.<br />
Over the years, consumers who have had “garnishee orders” (EAOs)<br />
have often ended up paying ridiculous amounts toward this debt and
later find out after many years that they still owe more according to<br />
their creditors and greedy lawyers. This is because the lawyers try to<br />
say that the collections costs are not part of the Induplum amount or<br />
they simply ignore the law on Induplum.<br />
In an example put forward by Summit and USLC, they shared how<br />
one Bayport client who borrowed R12 000 in 2011 (who planned to<br />
pay off the debt in 3 years) defaulted on payments. He then received<br />
a EAO against his salary of R732/month towards the remaining debt<br />
of R11 685.00.<br />
After 6 years of payments (+-R52 704.00) Bayport said that he still<br />
owned R7400. Why? Because they had added interest charges of<br />
R21 019 and countless other legal and collection charges of around<br />
R6500 onto his debt).<br />
They cite another case where a consumer with a EAO ended up<br />
paying over R5000 for a R600 debt.<br />
While it may seem that these things are obviously immoral and illegal<br />
based on the law, many credit providers and their collections agents<br />
say that they are operating according to the limits of the law.<br />
Credit provider’s collections & accounting units hate this law because<br />
it limits how much they can collect from debtors and thus their profit<br />
margins. If they ignore it or work around it they can make a lot more<br />
money than if they automatically institute it on their systems (as<br />
some good credit providers already have). Over the last 10 years, the<br />
NCRs and Debt Counsellors have been valiantly trying to get credit
providers to abide by the requirements of NCA Section 103(5) to<br />
the benefit of consumers but many credit providers have successfully<br />
ducked and dived for over a decade.<br />
This case should now force the issue into the public eye and help set<br />
absolute clarity on the involved consumer’s matters. This, in turn,<br />
should help when the matter arises in other courts across the country.<br />
SBSA & ABSA At Court Over Setting<br />
Reserve Prices For Auction Sales<br />
If you take a bond on a property you are committing to making<br />
payments over several decades. Also part of that agreement is that if<br />
you default at any point (and leave the account in default) then the<br />
bank has the right to summons you and get a judgment. After getting<br />
a judgment the credit provider can then move to sell the property on<br />
auction to recover some of their funds. Normally, this takes about 30<br />
months from the time of first default but can be much faster if the<br />
bank is aggressive and uncompromising.<br />
Often though, properties sold on auction this way have been sold for<br />
very little (as little as R10 in one case), leaving the consumer in deep<br />
debt with the balance of the bond to pay even though the property is<br />
sold. This can leave consumers with many years of debt repayments<br />
on an asset they no longer own.
The real goal of the collections process is to get in the missing funds<br />
and so in many cases the consumers catch up payments before the<br />
property is actually auctioned.<br />
In that case, the consumer can carry on with the original agreement<br />
(after paying for some extra fees). It is said nearly 66% of such<br />
matters are sorted out before the auction. This, however, means that<br />
a third of these matters end up with the property being sold.<br />
Recently, the law changed so that a reserve price (minimum amount<br />
for which the property can be sold for) can be set by the court before<br />
the auction. Some courts have been quick to implement this while<br />
others have simply ignored it as the law is not clear on under what<br />
circumstances such a reserve price must be set.<br />
Now ABSA and Standard Bank will be heading to the South Gauteng<br />
High Court, following a directive from Gauteng judge president<br />
Dunstan Mlambo, in an effort to gain clarity on when this must<br />
happen. The banks all say that when there are reserve prices set it<br />
can reduce the amount of interest from potential buyers.<br />
These two banks would like to see a very particular set of<br />
circumstances under which this would happen while others in the<br />
court case argue that it should always be done.
KIM<br />
ARMFIELD<br />
AND ASSOCIATES<br />
When debt<br />
review clients<br />
don’t pay they<br />
put your entire<br />
practice at risk!<br />
We make sure you get paid for<br />
the work you’ve already done!<br />
Tel: 021 949 1758 | 084 702 3760<br />
info@legalwc.co.za | www.capeattorney.co.za
The Minister of Trade and Industry &<br />
the National Credit Regulator vs Micro<br />
Finance South Africa case no A172/17<br />
Recently, MFSA took the DTI & NCR to court over changes that they<br />
claimed were made to the National Credit Act regulations without<br />
proper industry consultation and consideration of how the changes<br />
would affect industry parties. Many smaller credit providers often<br />
give consumers repeated loans such as small pay day advances etc<br />
and this case dealt with the rate that could be charged. The court<br />
originally ruled in favour of the MFSA.<br />
The DTI then asked that the matter, as previously ruled on by Justice<br />
Louw in the North Gauteng High Court, be reviewed as they were not<br />
happy with the outcome and how the case was handled.<br />
The recent changes to the NCA regulations which were published,<br />
meant that if a credit provider gave another loan to a consumer,<br />
within a calendar year (which is very common with small lenders and<br />
low-income consumers) that the rate cap for that loan then dropped<br />
from 5% per month (original loan cap) down to 3% per month<br />
(subsequent loans).<br />
A full bench of several Judges carries more weight than a ruling by<br />
a lone Judge and in this case, when the matter was reviewed, the<br />
ruling swung in the opposite direction (now in favour of the DTI).<br />
The ruling in the case of The Minister of Trade and Industry & the
National Credit Regulator vs Micro Finance South Africa case no<br />
A172/1 makes a number of points and says that the previous<br />
ruling was incorrect because (1) the Judge didn’t consider all the<br />
evidence, the changes to the regulations help combat heavy debt,<br />
credit providers (like the big banks) have already adjusted to the<br />
new regulations and MFSA members (small lenders) are relatively<br />
unimportant in terms of the overall credit industry. It also says that<br />
the Minister of Trade & Industry did actually consider the effect and<br />
do enough research.<br />
Therefore due to this new ruling, the regulation changes about<br />
subsequent short term loans is still in effect and consumers will<br />
pay 5% interest on the first short-term loan and then a reduced 3%<br />
interest on any other short term loans from that credit provider within<br />
a calendar year.<br />
SA Class Action Law Suit Vs Steinhoff<br />
Retail giant Steinhoff was revealed to be an unstable house of cards<br />
when shocking accounting fraud was finally revealed late last year.<br />
Once the first irregularities were revealed the situation snowballed<br />
with Directors quitting, the sudden sale of assets to try to stay afloat<br />
and the slow unveiling of the true extent of the cunning accounting<br />
which had hidden the SA founded company’s rather empty coffers.<br />
Steinhoff was first incorporated in South Africa, then in Netherlands
and was eventually listed both on the Johannesburg Stock Exchange<br />
and Frankfurt Stock Exchange.<br />
Now three legal firms have launched a joint class action suit against<br />
the firm, former directors (including Mr Jooste) and even several<br />
banks such as ABSA, Standard Charted (UK) and Commerzbank<br />
(Germany). Other respondents are auditors Deloitte and Rodi &<br />
Partner.<br />
Though other shareholders are taking similar action overseas,<br />
local SA law in a class action is beneficial in that it automatically<br />
includes share holders unless they specifically ‘opt out’ (as opposed<br />
to overseas where people have to actively opt in). The class action<br />
suit could well end Steinhoff as they are seeking damages for those<br />
affected to the tune of R185 Billion.<br />
Download the Amendments to the<br />
Magistrates Courts Act<br />
The recent changes to the Magistrates Courts Act, as signed off by the<br />
President, allow for refinement of procedures surrounding things like<br />
consent to jurisdiction (regional or district), recession of judgments<br />
where the debt is paid up, clarifies the process of debtors making<br />
offers after a judgment has been issued on a debt and adds in fines<br />
and penalties relating to emolument attachment orders or EAOs<br />
(commonly called “garnishee orders” by most people).
The amendments really attempt to reshape the past EAO (Garnishee)<br />
practices and hope to ensure an end to abuses in this regard by<br />
adding limits and ensuring proper oversight.<br />
There are also some refinements to the definitions section to add<br />
greater clarity. It also adds that orders in terms of section 55 should<br />
be just and equitable and allow the consumer enough to cover<br />
necessary costs and obligations while taking into account their<br />
income. This is something that was often overlooked in the past.<br />
Download the updated Act here:<br />
https://tinyurl.com/y9lbeye5
PROFESSIONAL DEBT<br />
COUNSELLING ATTORNEYS<br />
TEL: 021 872 1968<br />
11 MARKET STREET, PAARL<br />
www.steyncoetzee.co.za
PDA<br />
PROFILE<br />
<strong>Debtfree</strong> took some time to<br />
speak to Marcelle Williams,<br />
Director at CollectNet PDA.<br />
Where are you from<br />
(where did you grow<br />
up)?<br />
I was born in a Township called<br />
Eersterust in Pretoria. I have lived in<br />
Pretoria area ever since.
Where have you<br />
worked in the past?<br />
Can you tell us<br />
a little about<br />
your education<br />
background?<br />
I matriculated from Eersterust<br />
Secondary before doing a Marketing<br />
and Business Diploma (Damelin)<br />
(1995) and a B.Com (Financial<br />
Accounting) at the University of<br />
Pretoria. (2000).<br />
I then completed my Hons B.Compt<br />
(Accounting Science) /CTA via UNISA<br />
in 2005. Because I am a big believer<br />
in ongoing education I am currently<br />
busy studying M.Phil Management<br />
Coaching. You are never too old to<br />
learn new skills.<br />
I started working in 1995 at Telkom<br />
(Clerical in the finance dept) and<br />
spent 5 years at Telkom where I was<br />
eventually promoted to be a Debtors<br />
& Creditors supervisor. I spent 5<br />
years at TFMC – in various positions<br />
from Financial Supervisor to<br />
Financial Manager and even acting<br />
Finance Exec. This gave me a lot<br />
of experience both in management<br />
and the corporate environment.<br />
After some time after that at Business<br />
Connexion as Financial Manager, I<br />
moved into the banking world at FNB<br />
in the Property Finance division and<br />
then on to Mettle Property Finance.<br />
Starting in 2009, once the National<br />
Credit Act was already in force, I<br />
started a debt collection business<br />
(MIW Risk Solution) and got to really<br />
see the needs in the industry. Then,<br />
in 2014, I moved to CollectNet as a<br />
Director.
How did you become<br />
involved with the<br />
financial industry<br />
and specifically<br />
CollectNet?<br />
As you can see, I have really been<br />
in the financial industry for the past<br />
24 years. I have had numerous<br />
financial type roles in different<br />
industries from pure accounting and<br />
auditing to financial management<br />
and financing.<br />
I had previously been involved in a<br />
debt collection business for about 5<br />
years. In 2010 I bought a small debt<br />
counselling franchise which I quickly<br />
found was very labour intensive. I<br />
eventually closed the franchise after<br />
a year. So, I have been aware of<br />
and exposed to the DC environment<br />
since 2009.<br />
I was later introduced to Capital<br />
software, in 2013, through my<br />
business partner Rene Pillay. Rene,<br />
Jacques De Wet (CEO of Capital<br />
Software) and I created CollectNet<br />
in 2014 to explore different<br />
opportunities in the FINTECH<br />
space including, eventually the PDA<br />
environment. We have since applied<br />
and subsequently received approval<br />
to become the 4th NCR approved<br />
and registered PDA in the country.
So, you are very<br />
familiar with what it<br />
takes to be a Debt<br />
Counsellor?<br />
Yes. I had a DC franchise in 2010-<br />
11. It was a tough time for the<br />
industry and being a DC is a lot of<br />
very hard and time consuming work.<br />
I learned that a good PDA can make<br />
all the difference.<br />
Can you share<br />
a little more<br />
about your role at<br />
CollectNet?<br />
I am one of the 3 owners of<br />
CollectNet along with Rene Pillay<br />
and Jacques De Wet. I perform the<br />
function of Operations Director<br />
looking after implementation and<br />
also now directly heading up the<br />
PDA division.<br />
Do you have any<br />
hobbies when you<br />
are not hard at<br />
work?<br />
Yes: Playing Golf and also watching<br />
all sorts of sports like soccer, cricket<br />
and rugby. I also really enjoy<br />
travelling.<br />
Do you have any<br />
pets?<br />
Yes. I have 3 white Swiss Shepherds.
?<br />
Are you excited<br />
that the NCR are<br />
relooking at the PDA<br />
fee structure?<br />
Where do you see<br />
CollectNet and the<br />
industry going over<br />
the next few years?<br />
I believe the industry is currently<br />
going through some tough times<br />
from a perception perspective.<br />
In time, the value we deliver as a<br />
industry will be more appreciated.<br />
I don’t see debt counselling as an<br />
industry going away anytime soon.<br />
I do believe that, like with any<br />
other industry, it will change. We<br />
at CollectNet are ready for change<br />
and I believe that in the next 5 years<br />
we will be a noticeable player not<br />
only in the PDA environment, but in<br />
the Fintech space as a whole.<br />
Yes, we are but we are not holding<br />
our breath. We will just wait and<br />
see what transpires. I do however<br />
believe that if the PDA fees do not<br />
increase somewhat, it will be difficult<br />
to sustain a PDA business going<br />
forward.<br />
Do you think that<br />
PDAs will play a role<br />
in Debt Intervention?<br />
If I look at the Bill that was drafted I<br />
cannot see how the NCR will deal with<br />
Debt intervention without involving<br />
the PDA in some way or form. In<br />
order to perform an efficient PDA<br />
function, you need the systems and<br />
expertise to do it properly. This is a<br />
function that the existing registered<br />
parties can perform.
STUCK<br />
USING<br />
ANCIENT<br />
TECHNOLOGY?<br />
Contact Maximus on 011 451 0041 | www.dcmax.co.za
don’t be a twit<br />
http://twitter.com/<strong>Debtfree</strong>_DIGI<br />
All professionals have professional indemnity if the unforeseen<br />
happens. Do you as a professional Debt Counselor have<br />
professional indemnity as stipulated by the ethical code?<br />
contact us today for more information<br />
086 111 2882<br />
TELEPHONE 0861 112 882 FACSIMILE 086 605 9751 MOBILE 082 449 6856 EMAIL andre@in2insurance.co.za<br />
www.in2insurance.co.za
HELP NEW<br />
MOMS &<br />
BABIES<br />
Being in Debt Review and Pregnant can be daunting prospect due to<br />
the sudden extra unexpected costs. It can even threaten to ruin your<br />
debt review. DCCS want to help pregnant Debt Review moms with a<br />
special gift hamper to help them deal with the extra costs.<br />
Each Hamper consists of nappies, creams, soaps, wipes, clothing<br />
and a receiving blanket. Would you like to donate a pack to help a<br />
pregnant debt review mom?<br />
DONATE R180.00 admin@dccsupport.co.za<br />
DEBT COUNSELLING<br />
COMMUNITY SUPPORT
DEBT REVIEW<br />
SCHOOL<br />
Your Debt Counsellor or their<br />
staff should never ask you to pay<br />
money into their account.<br />
They will probably ask you to<br />
make debt repayments via a NCR<br />
registered PDA.
DCASA Annual Conference<br />
REVIEW
The Debt Counsellors Association of South Africa held their annual<br />
conference in Gauteng this month. Debt Counsellors from around<br />
the country attended along with credit providers and other support<br />
services. You may not have had the opportunity to attend this year<br />
and so we have a brief look at some of the highlights from the day.<br />
The day began and ended early with hundreds in attendance. Most of<br />
those attending were from the Gauteng area and at least one of the<br />
largest Debt Counselling firms in SA had representatives at the event. Most<br />
Debt Counsellors in South Africa are split between Gauteng and Cape<br />
Town, with the biggest firms being mostly situated in Cape Town. Debt<br />
Counsellors are able however to assist consumers countrywide and DCASA<br />
have many provincial branches across the country. Representatives from<br />
these regional DCASA groups were in attendance.<br />
The event took place in the now familiar venue at Emperor’s Palace (who<br />
have a conference centre) and was well attended. Also there on the day<br />
were a number of displaying industry role players ranging from industryspecific<br />
insurance providers (like ONE|SURE), to PDAs (all except NPDA<br />
attended) to ancillary services such as Compuscan (who also offer training<br />
to the industry). Some banks such as FNB and ABSA had stands where<br />
Debt Counsellors could interact with them face to face.<br />
This was very helpful and allowed Debt Counsellors to breifly exchange<br />
contact info and mention matters that require urgent attention.<br />
Special time was set aside during the event for guests to mingle and<br />
enjoy some tea and visit the sponsor stands. Though brief, these breaks<br />
enabled everyone to stay fresh between all the speeches and presentations.<br />
Attendees were able to grab a bunch of the printed Special Edition of<br />
<strong>Debtfree</strong> <strong>Magazine</strong> as well. Many of those displaying had nice gifts for the<br />
guests ranging from pens and water bottles to lip ice and sweets. At the
end of the day some even gave away prizes such as Hyphen PDA (a Tablet)<br />
and CollectNet PDA (an iPad).<br />
The day was a mix of general business information (such as the presentation<br />
on PoPI) and association-specific speeches (such as the review of the year<br />
by the DCASA President).<br />
• Starting off the day DCASA President Russel Dickerson spoke to the<br />
audience and welcomed all.<br />
• Next, was a presentation from previous conference speaker Mr Mike<br />
Schussler. Mike is an economist and gave an overview of where the<br />
SA economy stands at present and where it is likely to go. All in all, he<br />
painted a rather sad picture and warned that tough times are ahead.<br />
He did, however, point out that this means that Debt Counsellors would<br />
soon be busier than ever with more consumers needing help.<br />
• Mr Theo Vorster and the folks at Galileo Capital then made a<br />
presentation themed: ‘The investment solution and how to build a<br />
long-term annuity income for business‘. They showed how investing<br />
in property only brings a marginal income slightly higher than inflation<br />
over time whereas investing in shares will, over time, bring a higher<br />
return. Interestingly, they showed how if you just leave your investments/<br />
shares and don’t trade and mix them up too much you make a high<br />
return anyway (though slightly lower than if you are trying to move<br />
them around). One of the most interesting slides presented showed<br />
what happens when investors run scared during a sudden downturn<br />
and what can happen if you miss just 6 days on the market over a<br />
period of several years.<br />
• If you are unsure of how the Protection of Personal Information Act<br />
is going to impact on your debt counselling practice then you would<br />
have benefited from Mr.Juan-Jacques Jordaan’s presentation on the
topic. He pointed out how no one really reads the T&Cs anymore and<br />
a lot of consumers data has been illegally shared already. He warned<br />
that the fines and punishment for breaches are sever and showed<br />
examples of how an innocent thing can get you into a lot of trouble<br />
once the Act kicks in 100%.<br />
• The next speaker was Ms Maya Fisher-French, well-known journalist<br />
(Maya on Money). She discussed how nearly no one is saving and how<br />
fewer people than ever are saving toward retirement. So, while South<br />
Africans are in trouble now with over usage of credit they will be even<br />
more in trouble in the future when their meagre savings run out or<br />
they have to face retirement without any savings at all.<br />
• After Lunch “the prof” Mr Frans Haupt (of the University of Pretoria<br />
Law Clinic) gave a walk down memory lane as he reviewed the last<br />
few years of debt review. He explained some of the serious hurdles that<br />
the industry has had to overcome and in particular the inconsistent<br />
legal rulings on the topic which have shaped the current debt review<br />
landscape. He also said some very nice things about <strong>Debtfree</strong> <strong>Magazine</strong><br />
and how it is a good resource to the industry and consumers alike.<br />
• The two final speeches of the day were from DCASA President Russell<br />
Dickerson and former President Mr Paul Slot. Russel gave a presentation<br />
on the industry and industry updates which covered all sorts of things<br />
such as what is happening or not happening at CIF.<br />
• Mr Paul Slot gave a rather gloomy presentation on Debt Intervention.<br />
He pointed out how the Portfolio Committee have decided that Debt<br />
Counsellors do not want to help low income consumers and how this<br />
is simply not true. DCASA has repeatedly indicated that this is not the<br />
case. Regardless, the Draft Bill (which should be passed over to the<br />
Council of Provinces in the next few weeks) simply cuts Debt Counsellors<br />
out of the process. The general feeling was that the NCR will be
swamped by the work and that everyone knows this. Of particular<br />
concern was how many staff it will take to assist just a fraction of the<br />
people who should apply. Some estimates are 1.5 million people,<br />
others are around 5 million. If the NCR take on just 15 000 new<br />
consumers each month then they will need to match the current staff<br />
amount of all debt counselling companies countrywide at present (this<br />
is roughly how many consumers Debt Counsellors help each month).<br />
DCASA wish the NCR well and hope that things go better than they<br />
anticipate.<br />
The day ended a bit earlier due to a decision to forgo the usual question<br />
and answer session at the end of the day and guests who wrote down<br />
questions were promised an electronic reply. This made it possible for<br />
many to leave a bit earlier and beat the traffic. The day ran smoothly and<br />
all who attended enjoyed receiving a new helpful guide booklet on PoPI<br />
and its impact on debt review, as well as, all the chats, snacks, lunch buffet<br />
and speeches.
DON’T WORK WITH AN OUT<br />
DATED VERSION OF THE ACT<br />
UPDATED<br />
2017<br />
We are happy to announce that the Amended National Credit Act booklet<br />
is now available via our shop.<br />
Get the latest version for only R250.00<br />
ORDER NOW<br />
http://debtfreedigi.co.za/product/pocket-sized-national-credit-act-booklet/
www.collectnetpda.co.za
CLICK THE C<br />
SERVICE D<br />
DEBT COUNSELLORS<br />
SUPPORT<br />
SERVICES<br />
TRAINING<br />
FINANCIAL<br />
FINANCIAL<br />
PLANNING
IRECTORY<br />
ATEGORY<br />
DO YOU WANT TO LIST<br />
YOUR COMPANY?<br />
directory@debtfreedigi.co.za<br />
LEGAL<br />
CREDIT BUREAUS<br />
PAYMENT<br />
DISTRIBUTION<br />
AGENCIES<br />
CREDIT PROVIDER CONTACT<br />
DETAILS & ESCALATION PROCESS
DEBT COUNSELLORS<br />
GAUTENG<br />
KWAZULU-<br />
NATAL<br />
FREE STATE
LIMPOPO NORTH WEST EASTERN CAPE<br />
MPUMALANGA NORTHERN CAPE WESTERN CAPE
PENNY WISE<br />
Cathy Foster<br />
Debt Counsellor – NCRDC1977<br />
Penny Wise Debt Counselling<br />
Tel: (011) 679 1540<br />
Fax: 086 719 3378<br />
Mobile: 083 298 4467<br />
Email: cathy@pennywise.co.za<br />
www.pennywise.co.za<br />
Credit Matters<br />
South Africa’s Leading<br />
Debt Counsellors<br />
14th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
Cape Town<br />
Tel: 086 111 6197<br />
Fax: 021 425 6292<br />
info@creditmatters.co.za<br />
GAUTENG<br />
Armani Debt Counselling<br />
Take the First Step<br />
to Financial Freedom<br />
Tania Dekker<br />
Tel: 011 849 3654 / 7659<br />
www.armanigroup.co.za<br />
Dynamix Debt Counselling TLC<br />
Alida Christie NCRDC2324<br />
Office 1, 34 Beefwoodstreet,<br />
Vanderbijlpark, 1911<br />
Tel: 079 520 4369<br />
Tel: 016 100 8020<br />
tlcdebt@mweb.co.za
Specialist Debt Management Centre<br />
Beverley Ludick, NCRDC948<br />
Pretoria<br />
Tel: 012 377-3557<br />
Email: obligco@gmail.com<br />
Email: dc@obligco.co.za<br />
www.obligco.co.za<br />
Creators In Financial Wellbeing<br />
NCRDC677<br />
You Are Not Alone<br />
We’ll handle your creditors so you<br />
don’t have to!<br />
1 Dingler Street, Rynfield, Benoni<br />
0861 10 11 00<br />
info@debtmend.co.za<br />
www.debtmend.co.za<br />
“Helping you the SMART way”<br />
0860 061 008<br />
info@smartdebtadvisors.co.za<br />
www.smartdebtadvisors.co.za<br />
NCRDC197<br />
Tel: 011 660 9970<br />
Fax: 086 540 5017<br />
KRUGERSDORP<br />
e-mail: nicky@nvdmdc.co.za<br />
www.nvdmdc.co.za<br />
All Debt Solutions<br />
Fast tracking your financial freedom<br />
Tel: 0861 255 3328 / 021-557 9981<br />
Email: info@allds.co.za<br />
www.alldebtsolutions.co.za<br />
https://www.facebook.com/<br />
alldebtsolutions<br />
CCDC<br />
Consumer Care Is our Priority.<br />
Tel: 018 462 4263 / 073 624 6949<br />
Email: info@ccdc.co.za<br />
www.ccdc.co.za
DEBT NO MORE - NCRDC1973<br />
Christelle du Toit<br />
Tel: 016 423 6301<br />
Cell: 083 321 6731<br />
FAX: 086 219 3306<br />
Email: debtnomore@jjckruger.co.za<br />
www.jpawfin.co.za<br />
GAUTENG<br />
MV Business Empowerment<br />
9 River Road<br />
Morning Hill<br />
Bedfordview<br />
(next to Eastgate mall)<br />
Tel: 083 490 3339<br />
velaphi@infitech.co.za<br />
Suite 7 Gladstone Court<br />
103 Smiso Nkwanyana [Goble] Road<br />
Morningside<br />
Durban<br />
Tel: 031 303 1004<br />
Mobile: 076 835 2810<br />
Email: jbechoo@jb-attorneys.co.za
Get<br />
debt relief ¨<br />
with our<br />
help today!<br />
016 423 3029<br />
082 812 5442<br />
info@resolutiondebt.co.za<br />
South Africa’s<br />
largest and most<br />
trusted, multi-award<br />
winning Debt Counsellor.<br />
086 999 0606<br />
info@debtbusters.co.za<br />
www.debtbusters.co.za<br />
2014<br />
Debt Review<br />
Awards<br />
WINNER<br />
2016<br />
Debt Review<br />
Awards<br />
WINNER<br />
2017<br />
Debt Review<br />
Awards<br />
WINNER<br />
Tel: 010 005 5326<br />
Cell: 083 748 4426<br />
FAX: 086 571 7003<br />
www.dpalegal.co.za
South Africa’s<br />
largest and most<br />
trusted, multi-award<br />
winning Debt Counsellor.<br />
National Debt Advisors<br />
Fighting For Consumer Justice<br />
Tel: 021 007 1688<br />
www.nationaldebtadvisors.co.za<br />
086 999 0606<br />
info@debtbusters.co.za<br />
www.debtbusters.co.za<br />
KWAZULU-<br />
NATAL<br />
2014<br />
Debt Review<br />
Awards<br />
WINNER<br />
2016<br />
Debt Review<br />
Awards<br />
WINNER<br />
2017<br />
Debt Review<br />
Awards<br />
WINNER<br />
Debt Review Specialists<br />
23 Coronation Road<br />
Mithanagar<br />
Tongaat<br />
4399<br />
Tel: 071 222 9481<br />
Tel: 032 944 3446<br />
admin@kmadebt.co.za<br />
www.kmadebt.co.za
DEBT FREE, STRESS FREE<br />
AND LIVE BETTER<br />
084 367 1236<br />
“Helping you the SMART way”<br />
info@bmhdebtsolutions.co.za<br />
www.bmhdebtsolutions.co.za<br />
17 Arbee Drive, MP Centre<br />
Office 09, Tongaat,4400<br />
Registered Debt Counsellor<br />
NCRDC2662<br />
0860 061 008<br />
info@smartdebtadvisors.co.za<br />
www.smartdebtadvisors.co.za<br />
Credit Matters<br />
South Africa’s Leading<br />
Debt Counsellors<br />
14th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
Cape Town<br />
Tel: 086 111 6197<br />
Fax: 021 425 6292<br />
info@creditmatters.co.za<br />
Get<br />
debt relief ¨<br />
with our<br />
help today!<br />
082 937 7874<br />
082 812 5442<br />
denise@kzndebtcounselling.co.za
National Debt Advisors<br />
Fighting For Consumer Justice<br />
Tel: 021 007 1688<br />
www.nationaldebtadvisors.co.za<br />
Credit Matters<br />
South Africa’s Leading<br />
Debt Counsellors<br />
14th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
Cape Town<br />
Tel: 086 111 6197<br />
Fax: 021 425 6292<br />
info@creditmatters.co.za<br />
FREE STATE<br />
South Africa’s<br />
largest and most<br />
trusted, multi-award<br />
winning Debt Counsellor.<br />
086 999 0606<br />
info@debtbusters.co.za<br />
www.debtbusters.co.za<br />
2014<br />
Debt Review<br />
Awards<br />
WINNER<br />
2016<br />
Debt Review<br />
Awards<br />
WINNER<br />
2017<br />
Debt Review<br />
Awards<br />
WINNER
LIMPOPO<br />
National Debt Advisors<br />
Fighting For Consumer Justice<br />
Tel: 021 007 1688<br />
www.nationaldebtadvisors.co.za<br />
Credit Matters<br />
South Africa’s Leading<br />
Debt Counsellors<br />
14th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
Cape Town<br />
Tel: 086 111 6197<br />
Fax: 021 425 6292<br />
info@creditmatters.co.za<br />
Depopulating a generation of over<br />
indebted and populating a debt free<br />
generation.<br />
Office no 2, 5 A Schoeman Street,<br />
Polokwane<br />
Tel: 0152912731<br />
Tel: 0877028518<br />
Email: admaau66@gmail.com<br />
www.maaudebts.co.za<br />
SMS Salary Management Services<br />
Annerien de Jager<br />
Registered Debt Counsellor<br />
NCRDC0075<br />
015 307 2772<br />
info@smslimpopo.co.za<br />
South Africa’s<br />
largest and most<br />
trusted, multi-award<br />
winning Debt Counsellor.<br />
086 999 0606<br />
info@debtbusters.co.za<br />
www.debtbusters.co.za<br />
2014<br />
Debt Review<br />
Awards<br />
WINNER<br />
2016<br />
Debt Review<br />
Awards<br />
WINNER<br />
2017<br />
Debt Review<br />
Awards<br />
WINNER
MPUMALANGA<br />
GMC Debt Solutions<br />
52 Kerk Street<br />
Lydenburg<br />
Tel: 087 802 7054<br />
Tel: 087 151 1034<br />
www.gmcdebtsolutions.co.za<br />
National Debt Advisors<br />
Fighting For Consumer Justice<br />
Tel: 021 007 1688<br />
www.nationaldebtadvisors.co.za<br />
Romi Oliphant<br />
Debt Counselling<br />
Service<br />
013 650 0116<br />
rodcs4u@gmail.com<br />
http://rodcs4u.webs.com/<br />
WhatsApp<br />
062 502 5987<br />
South Africa’s<br />
largest and most<br />
trusted, multi-award<br />
Credit Matters<br />
winning South Africa’s Debt Counsellor.<br />
Leading<br />
Debt Counsellors<br />
14th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
086 Cape 999 Town 0606<br />
Tel: 086 111 6197<br />
Fax: 021 425 6292<br />
info@creditmatters.co.za<br />
info@debtbusters.co.za<br />
www.debtbusters.co.za<br />
2014<br />
Debt Review<br />
Awards<br />
WINNER<br />
2016<br />
Debt Review<br />
Awards<br />
WINNER<br />
2017<br />
Debt Review<br />
Awards<br />
WINNER
National Debt Advisors<br />
Fighting For Consumer Justice<br />
Tel: 021 007 1688<br />
www.nationaldebtadvisors.co.za<br />
Credit Matters<br />
South Africa’s Leading<br />
Debt Counsellors<br />
14th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
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Tel: 086 111 6197<br />
Fax: 021 425 6292<br />
info@creditmatters.co.za<br />
NORTH WEST<br />
Depopulating a generation of over<br />
indebted and populating a debt free<br />
generation.<br />
Office No. 6, Prime Pharm Building,<br />
36 Dr Nelson Mandela Drive<br />
Tel: 0186320053<br />
Tel: 0877026744<br />
Email: papi@maaudebts.co.za<br />
www.maaudebts.co.za<br />
South Africa’s<br />
largest and most<br />
trusted, multi-award<br />
winning Debt Counsellor.<br />
086 999 0606<br />
info@debtbusters.co.za<br />
www.debtbusters.co.za<br />
2014<br />
Debt Review<br />
Awards<br />
WINNER<br />
2016<br />
Debt Review<br />
Awards<br />
WINNER<br />
2017<br />
Debt Review<br />
Awards<br />
WINNER
National Debt Advisors<br />
Fighting For Consumer Justice<br />
Tel: 021 007 1688<br />
www.nationaldebtadvisors.co.za<br />
Credit Matters<br />
South Africa’s Leading<br />
Debt Counsellors<br />
14th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
Cape Town<br />
Tel: 086 111 6197<br />
Fax: 021 425 6292<br />
info@creditmatters.co.za<br />
NORTHERN CAPE<br />
South Africa’s<br />
largest and most<br />
trusted, multi-award<br />
winning Debt Counsellor.<br />
086 999 0606<br />
info@debtbusters.co.za<br />
www.debtbusters.co.za<br />
2014<br />
Debt Review<br />
Awards<br />
WINNER<br />
2016<br />
Debt Review<br />
Awards<br />
WINNER<br />
2017<br />
Debt Review<br />
Awards<br />
WINNER
National Debt Advisors<br />
Fighting For Consumer Justice<br />
Tel: 021 007 1688<br />
www.nationaldebtadvisors.co.za<br />
Credit Matters<br />
South Africa’s Leading<br />
Debt Counsellors<br />
14th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
Cape Town<br />
Tel: 086 111 6197<br />
Fax: 021 425 6292<br />
info@creditmatters.co.za<br />
EASTERN CAPE<br />
South Africa’s<br />
largest and most<br />
trusted, multi-award<br />
winning Debt Counsellor.<br />
086 999 0606<br />
info@debtbusters.co.za<br />
www.debtbusters.co.za<br />
2014<br />
Debt Review<br />
Awards<br />
WINNER<br />
2016<br />
Debt Review<br />
Awards<br />
WINNER<br />
2017<br />
Debt Review<br />
Awards<br />
WINNER
WEBSITE | www.debt-therapy.co.za<br />
debt therapy<br />
integrity guaranteed<br />
debt therapy is registered with NCR | NCRDC49<br />
National Debt Advisors<br />
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Tel: 021 007 1688<br />
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WESTERN CAPE<br />
CONSOLIDEBT<br />
Heidie Knorr NCRDC209<br />
Paarl, Worcester, Wellington, Ceres,<br />
Piketberg, Clanwilliam, Vredendal<br />
Tel: 021 863 2754 / 082 380 4401<br />
consolidebt@vodamail.co.za<br />
CHOOSE<br />
YOUR<br />
FINANCIAL<br />
FREEDOM<br />
TODAY<br />
Tel: 021 204 8001 • Email: dc@ffsdc.co.za<br />
www.financialfreedomsolutions.co.za<br />
dc@ffsdc.co.za<br />
www.financialfreedomsolutions.co.za
ISISEKO DEBT HELP<br />
Get Your Life back on track<br />
TEL: 087 230 0223<br />
FAX: 086 551 1649<br />
EMAIL: makanti@isiseko.co.za<br />
WEB: www.isiseko.co.za<br />
NCRDC1142<br />
No 2 Golden Isle Building<br />
281 Durban Road, Oakdale,<br />
Bellville, 7535<br />
Tel: 086 111 3749<br />
Email: help@zerodebt.co.za<br />
www.zerodebt.co.za<br />
Credit Matters<br />
South Africa’s Leading<br />
Debt Counsellors<br />
14th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
Cape Town<br />
Tel: 086 111 6197<br />
Fax: 021 425 6292<br />
info@creditmatters.co.za<br />
All Debt Solutions<br />
Fast tracking your financial freedom<br />
Tel: 0861 255 3328 / 021-557 9981<br />
Email: info@allds.co.za<br />
www.alldebtsolutions.co.za<br />
https://www.facebook.com/<br />
alldebtsolutions<br />
“There is no dignity quite so<br />
Impressive and No Independence<br />
quite so important as Living<br />
within your Means - Calvin Coolidge”<br />
For your Convenience Our Range of<br />
Services are Availble to you Anywhere in<br />
South Africa!<br />
Jackie Coetzee<br />
079 317 8557<br />
022 713 2021<br />
documentswc@fusiondc.co.za
South Africa’s<br />
largest and most<br />
trusted, multi-award<br />
winning Debt Counsellor.<br />
Your Guide to Financial<br />
Wellness and Recovery<br />
0861 229 922<br />
info@debthero.co.za<br />
www.legalhero.co.za<br />
086 999 0606<br />
info@debtbusters.co.za<br />
www.debtbusters.co.za<br />
2014<br />
Debt Review<br />
Awards<br />
WINNER<br />
2016<br />
Debt Review<br />
Awards<br />
WINNER<br />
2017<br />
Debt Review<br />
Awards<br />
WINNER<br />
WESTERN CAPE<br />
CONSUMER DEBT SUPPORT<br />
Annienne Nel NCRDC2452<br />
Kairo’s House, 22 Fairfield<br />
Southstreet, Parow, 7550<br />
Office: 021 930 5791<br />
Cell: 082 641 2328<br />
Fax: 086 563 3264<br />
e-mail: info@debtcentre.co.za<br />
www.debtcentre.co.za
“Helping you the SMART way”<br />
0860 061 008<br />
info@smartdebtadvisors.co.za<br />
www.smartdebtadvisors.co.za<br />
RIGHT STEP TO A<br />
DEBT FREE LIFE.<br />
086 111 2274<br />
081 785 3724<br />
info@logicaldebtsolutions.co.za<br />
www.logicaldebtsolutions.co.za
SUPPORT SERVICES<br />
011 451 0041<br />
0860 072 768<br />
www.dcmax.co.za<br />
lana Van Herwaarde,<br />
DC Operation Centre (PTY)<br />
Tel: 0867227405 Email:<br />
info@dcoperations.co.za<br />
www.dcoperations.co.za<br />
DEBT<br />
086 126 6562<br />
debt@one.za.com<br />
www.one.za.com
COMING SOON<br />
TRAINING<br />
COMING SOON<br />
FINANCIAL PLANNING
LEGAL<br />
Liddles & Associates<br />
“It always seems impossible until it<br />
is done” N. Mandela<br />
(T) 021 930 5790<br />
(F) 0866070940<br />
(E) frontdesk@liddles.co.za<br />
www.liddles.co.za<br />
Steyn Coetzee Attorneys /<br />
Prokureurs<br />
Adri de Bruyn<br />
11 Market Street / Markstraat 11,<br />
Paarl, 7646<br />
Tel: 021 872 1968<br />
Fax: 021 872 2678<br />
adri@steyncoetzee.co.za<br />
RM Brown and Associates<br />
16th Floor, The Pinnacle<br />
Cnr Strand & Burg St<br />
Cape Town<br />
Tel: 021 202 1111, f: 021 425 0875<br />
Email: roger@rmbrown.co.za
Your Debt Counselling Attorneys<br />
Johannesburg | Cape Town<br />
Kim Armfield<br />
Attorney & Family Law Mediator<br />
Address: Unit 1B, FinansHuis, 7<br />
Voortrekker Road, Bellville<br />
Tel: 021 949 1758 / 021 945 2526<br />
Office cell: 084 8588 284<br />
kim@legalwc.co.za<br />
Andre Van Zyl<br />
021 494 4862<br />
info@bassonvanzyl.com<br />
www.bassonvanzyl.com<br />
CREDIT<br />
BUREAUS<br />
Xpert Decision Systems (XDS)<br />
South African information bureau.<br />
Cape Town | Johannesburg<br />
+27 11 645 9100<br />
info@xds.co.za<br />
www.xds.co.za
PAYMENT<br />
DISTRIBUTION<br />
AGENCIES<br />
COLLECTNET<br />
+27 12 140 0602<br />
DC Partner<br />
044 873 4530<br />
Hyphen PDA<br />
011 303 0060<br />
NPDA<br />
0861 628 628
SYSTEM PROVIDERS<br />
FINWISE - INNOVATIVE DEBT M<br />
Tel: 011 451 0041<br />
Tel: 0860 072 768<br />
www.maxpayments.co.za<br />
Debt Review Software<br />
Tel: 016 004 0031<br />
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CAPITEC CONTACT DETAILS<br />
Form 17’s<br />
Proposals<br />
Court documents<br />
General Queries<br />
Refund Requests /<br />
Cancellation of Debit Orders<br />
Complaints<br />
Insurance Certificates<br />
ccsforms17@capitecbank.co.za<br />
ccsproposals@capitecbank.co.za<br />
ccsdebtrevieworders@capitecbank.co.za<br />
ccsdebtreviewqueries@capitecbank.co.za<br />
ccsrefundrequests@capitecbank.co.za<br />
ComplaintManagement@capitecbank.co.za<br />
coming soon<br />
Sharecall Contact Number 086 066 7783 - Select Option 2<br />
ESCALATION PROCESS<br />
COMING SOON
Debt Review DepartmentEmail Address<br />
Turnaround Time<br />
Contact Details Standard Bank Debt Review<br />
Debt Review Call Center: 0861 111 525 or 0861 111 402<br />
Debt Review Documents*:<br />
DRApplications@standardbank.co.za<br />
Debt Review Service requests: debtreviewservices@standardbank.co.za 5 days<br />
Debt Review payment queries: DRPayments@standardbank.co.za 7 days<br />
Debt Review administrative requests**: DebtReviewAdmin@standardbank.co.za 5 days<br />
Debt Review complaints and escalations: debtreviewcomplaints@standardbank.co.za 5 days<br />
Reckless Lending Allegations<br />
recklesslendingallegations@standardbank.co.za<br />
*Debt Review documents: Form 17.1; Form 17.2; Proposals; Court Applications; Court Orders<br />
**Debt Review Admin related requests: debit order cancellations; statement requests ; refunds; paid up<br />
letters; account closure instructions; settlement balances; or outstanding balances<br />
Other Standard Bank areas<br />
Credit Card 086120 1000<br />
Diners Club 0113588400 / 0860346377<br />
Vehicle Asset Finance Recoveries 0861102347<br />
Vehicle Asset Finance Collections 0861102347<br />
Home Loans Pre Legal 0860102270<br />
Home Loans Customer Service 0860123001<br />
Standard Bank Insurance 0860123911<br />
Deceased Estates 0861001868
Department Email address / Contact number TAT<br />
Call Centre 0861 005 901<br />
Absa<br />
En<br />
For your convenience we now offe<br />
in these departments are subject m<br />
could delay the resolution of your q<br />
Option 1: Updated balances, s<br />
Option 2: Any COB related qu<br />
Option 3: Any proposal relate<br />
Option 4: Any termination rel<br />
DRCob@absa.co.za 5 Business Days Pr<br />
DCTransfer@absa.co.za 5 Business Days M<br />
Certificate of balance<br />
DCCOBQueries@absa.co.za 5 Business Days M<br />
Debitordercancellations@absa.co.za 5 Business Days M<br />
DCRCAssessment@absa.co.za 10 Business Days M<br />
Proposal<br />
DCProposalquery@absa.co.za 10 Business Days M<br />
DRProposals@absa.co.za 10 Business Days Pr<br />
Legal Courtapp@absa.co.za 5 Business Days Al<br />
Termination<br />
DRTerminations@absa.co.za 10 Business Days M<br />
17.4@absa.co.za 10 Business Days M<br />
Clearance DCClearanceCertificate@absa.co.za 5 Business Days M<br />
KYC DCKYC@absa.co.za For return of KYC forms.<br />
Debtreviewqueries@absa.co.za 10 Business Days En<br />
Service<br />
Debtreviewmanager@absa.co.za 5 Business Days Es<br />
2 | Presentation title
Function<br />
nity to call our contact centre and be transferred to specific departments. Note that our consultants<br />
and will best be able to assist you for a swift resolution. Please note; choosing the incorrect option<br />
ettlements, refunds and general enquiries<br />
Function<br />
Debt Review<br />
try Points<br />
r the opportunity to call our contact centre and be transferred to specific departments. Note that our consultants<br />
atter experts and will best be able to assist you for a swift resolution. Please note; choosing the incorrect option<br />
uery.<br />
tatements, settlements, refunds and general enquiries<br />
eries e 17.1 application.<br />
d queries<br />
ated queries<br />
t counsellor swaps and system changes.<br />
ocessing of the 17.1 application.<br />
escalated queries and follow-ups.<br />
anage all debt counsellor swaps and system changes.<br />
it order cancellation requests.<br />
anage all COB escalated queries and follow-ups.<br />
s lending allegations.<br />
anage all debit order cancellation requests.<br />
posal escalated queries and follow-ups.<br />
anage reckless lending allegations.<br />
anage e following all proposal documents: escalated queries 17.2, proposals, and follow-ups. proof of Insurance, 17.3 & supporting documentation.<br />
ocessing ents to be of the provided following to documents: this department 17.2, proposals, for review. proof of Insurance, 17.3 & supporting documentation.<br />
l legal documents to be provided to this department for review.<br />
ination queries, reinstatement requests and follow-ups.<br />
anage all termination queries, reinstatement requests and follow-ups.<br />
ntary termination requests.<br />
anage all voluntary termination requests.<br />
rance-related queries and requests.<br />
anage all clearance-related queries and requests.<br />
all query-related matters.<br />
Types of queries managed by this department: Account closure<br />
try point for all query-related matters.<br />
Types of queries managed by this department: Account closure<br />
confirmation/request. Balance confirmations/query. Account status<br />
confirmation/request. Balance confirmations/query. Account status<br />
confirmation. confirmation. Statement Statement request. request. Paid Paid up up letter letter request. Refund<br />
request. request. All relevant All relevant operational queries to to be be referred to operational<br />
calation t for all point query-related for all query-related matters. matters.<br />
queues queues mentioned mentioned above. above.<br />
SECRET CONFIDENTIAL INTERNAL ONLY
First National Bank – a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider (NCRCP20). Reg. No. 1929/001225/06.
DC Query Process DC Query Process<br />
www.nedbank.co.za
17.1, 17.2, Proposals, General<br />
correspondence:<br />
debtcounselling@africanbank.co.za<br />
To register for Legal Web Access:<br />
lwac@africanbank.co.za<br />
Reckless Lending investigations:<br />
RLA@africanbank.co.za<br />
ESCALATION PROCESS<br />
DETAILS COMING SOON