May 2022 Debtfree DebtBusters Special Edition

SPECIAL 

EDITION 

STAY 

POSITIVE 

ABOUT 

DEBT REVIEW 

Issue 05 of 2022

EXCELLENCE IS DOING 

ORDINARY THINGS 

EXTRAORDINARILY 

WELL 

– John W. Gardner

WHAT MAKES US 

EXCELLENT? 

/ Unimpaired and automated PDA systems 

/ Integration with top-ranked Debt Counsellor systems 

/ Enhancing Debt Counsellor efficiency and sustainability 

/ Best customer support in the country – queries are resolved within 24 hours 

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

Call Saishen Krishnan 

Head of Hyphen PDA | 071 884 7300 

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

or visit our website www.hyphenpda.co.za

FROM THE EDITOR 

The World Bank and UN are warning of a possible 

global recession. I know, you are thinking: aren’t we 

already in a recession? But it seems the ongoing war in 

Ukraine and the resulting food price pressure, as well 

as the inflated oil price, is combining with the massive 

effects of the Pandemic to tilt the scales into a worldwide 

downward trending economy. 

If you have been to the shops to buy oil or recently filled up your 

petrol tank, then you know how rough it is at the moment. Funny to 

think one day oil could cost more than oil…if you know what I mean? 

But that is the world we live in, we have no choice but to adapt and 

deal with changes. 

Fortunately, it is something humans are particularly good at 

(especially when we have no choice). You probably found this out 

about yourself when you began debt review. Paying off your debt is 

not an easy process, but when you need to make serious changes, 

then remarkably, you were able to. 

Sometimes life forces us out of our comfort zone, giving us new 

opportunities to try new things. It’s like if the doctor tells you to adjust 

your lifestyle and diet due to a medical condition you never knew 

about before. 

When you have no choice you soon find that you can actually make 

needed changes, because you are really motivated by how serious

your situation is. But…that doesn’t mean that your brain will not 

long for the “good old”, bad old days whenever you walk past some 

naughty, delicious looking food you should now avoid. 

Debt review can be the same. At the start, you can be super 

motivated about the process, and finally getting your debt situation 

sorted out. But the longer it goes on, the more pressure mounts and 

the more temptations come along to try to derail your progress. So, 

in this issue we discuss how you can stay positive about your debt 

review and not drop out of the process. 

Since this can make or break your financial future, (and perhaps even 

that of your kids) it is well worth testing out these tips, and see if they 

can help you stay strong and motivated. 

We also discuss changes in the industry, some news that will impact 

on you and your wallet and look at other tips and advice, just another 

jam packed issue. 

Change is hard, we like things to stay the same. It is more predictable, 

familiar and comfortable. But change can also be good. Like the 

change to paying off debt instead of taking on more debt. So, don’t 

let changes in the world around you distract you from your goal, 

keep up your debt review payments and soon you will enjoy a great 

change to being totally debt free.

FROM THE 

DESK 

RISING INFLATION, 

INTEREST RATES 

ADD TO FINANCIAL 

PRESSURE 

Important for consumers 

to reduce the cost of 

credit and protect assets. 

Over the past six years a 

material decline in disposable 

income and a higher debt 

burden are contributing to 

the financial challenges many 

South Africans are facing.

This is manifested in increased demand for debt counselling, with 

enquiries up 32% compared to Q1 2021. 

These are some of the findings in DebtBusters’ latest Debt Index. The 

quarterly debt report is compiled from data provided by clients who 

have applied for debt counselling. 

The analysis found that two years after the start of the coronavirus 

pandemic, nominal income has declined marginally. But, when the 

effect of cumulative inflation over the past six years is considered, in 

real terms South Africans have 31% less disposable income. 

It seems that consumers are making up the shortfall in real income by 

borrowing. 

Unsecured debt levels are 20% higher than in 2016 and for those 

taking home more than R20 000 a month unsecured debt has 

increased by 54%, which is unsustainably high. 

The consequence of this higher debt burden is that consumers need 

to spend about 62% of their take-home pay to service their debt. 

More alarming is that for the top two income bands debt-to-income 

ratios are at their highest levels in the past six years. For those taking 

home more than R10 000 per month the ratio is 125% and it is 150% 

for those with take-home income of R20 000 or more per month. 

Although the average loan size has increased by 27% over the six 

years the number of debt obligations has declined by 18%, indicating 

that while consumers have more debt per credit agreement, they are 

seeking help sooner.

This is particularly important in an environment where both interest 

rates and inflation are increasing. 

In these circumstances, consumers need to do everything possible to 

reduce the cost of credit and protect their assets. For those unable to 

do so without help, debt counselling is the best option available. 

While under debt counselling, unsecured debt interest rates can be 

reduced significantly, allowing consumers to pay back expensive debt 

more quickly. 

The number of consumers who successfully finish debt counselling 

today is nine times higher than in 2016. In fact, consumers who 

finished debt counselling in Q1 2022 paid back R400 million while 

they were under debt counselling, showcasing the success of the 

programme.

DEBT REVIEW 

LESSON #1 

We all face unexpected expenses from 

time to time. It might be a flat tyre or a 

sudden medical expense. 

Be sure to set aside a little something 

each month (like your Debt Counsellor 

advised you to) for when these expenses 

come along.

No more debt-stress. 

Let’s get it sorted. 

We’ll get your interest rates right down. You’ll 

make one consolidated payment a month. You’ll 

have more cash to live on. Your assets will be 

legally protected. Sorted. 

0861 365 910 

www.debtbusters.co.za 

info@debtbusters.co.za 

NCRDC2484

CONTENTS 

STAY POSITIVE 

ABOUT DEBT REVIEW 

FEEL LIKE YOU 

JUST WORK 

TO PAY YOUR 

DEBTS? 

IMPROVING THE 

CONSUMER 

EXPERIENCE 

NEWS 

DISCLAIMER 

Debtfree Magazine considers its sources reliable and verifies as 

much information as possible. However, reporting inaccuracies 

can occur, consequently readers using this information do so 

at their own risk. Debtfree Magazine makes content available 

with the understanding that the publisher is not rendering legal 

services or financial advice. Although persons and companies 

mentioned herein are believed to be reputable, neither 

Debtfree Magazine nor any of its employees, sales executives 

or contributors accept any responsibility whatsoever for their 

activities. Debtfree Magazine contains material supplied to 

us by advertisers which does not necessarily reflect the views 

and opinions of the Debtfree Magazine team. No person, 

organization or party can copy or re-produce the content 

on this site and/or magazine or any part of this publication 

without a written consent from the editors’ panel and the 

author of the content, as applicable. Debtfree Magazine, 

authors and contributors reserve their rights with regards to 

copyright of their work.

STAY POSITIVE 

ABOUT DEBT 

REVIEW

STAY POSITIVE ABOUT DEBT REVIEW 

SOME PEOPLE MAKE IT, 

OTHERS DON’T 

Many people start debt review and 

are enthusiastic about finally sorting 

out their debt issues. 

They enjoy the relief that comes from being 

proactive and finding a way to settle all 

their debts. Their stress levels drop as credit 

providers stop pestering them for payments 

and unrealistic promises. As a result their 

family life receives a welcome break from all 

that stress. 

The same people may then suddenly, one day, 

decide to stop repaying their debt through 

debt review, despite a significant balance 

still owing. So, why suddenly decide to stop 

paying, after experiencing all these benefits, 

only to plunge their lives back into the storm 

of uncontrolled debt? 

What can help you stay positive about your 

debt review, and what are some negatives 

that could cause you to decide to stop debt 

review?


DEBT REVIEW IS 

AMAZING 

Debt review provides consumers with a way to deal 

with their debt in a realistic and sustainable manner. 

When consumers in debt first experience debt review, 

it can seem like the perfect solution, not only making 

debt repayments possible, but even providing huge 

savings on fees and interest over time. 

The process (which is done through court) also offers consumers 

legal protection, and a way to protect their assets, should 

uncooperative credit providers ever try take legal action against them. 

While many debt reviews are scheduled over 5 years (which is a good 

balance between risk to the credit provider and reduced installments 

for the consumer) every debt review is tailored to the needs of the 

individual. A Debt Counsellor work out an adjusted and realistic 

budget, then assists in organizing realistic and manageable monthly 

repayments through a PDA. 

When consumers stick to the repayment plan and their monthly 

budget, they reduce their stress, learn to manage their finances 

better, progressively pay off their debts and finish their debt review 

totally debt free.


AVOID HAVING 

SECOND THOUGHTS 

It is not uncommon for people facing big life changes 

to have second thoughts e.g. wedding day jitters, 

resigning from their job or switching accommodation. 

Buyers remorse can also be a reason. The term ‘buyers remorse’ 

covers when a consumer buys a product, a new phone for example, 

and then has a panicky feeling that they may have spent too much 

or perhaps got the wrong product. Although this feeling often passes 

quickly, it is not uncommon. 

When it comes to debt review, many people who start the process 

suddenly panic, and think they have over committed to a legal 

process that locks them into paying off their debt instead of being able 

to try pick and choose what they pay and when they will pay it. 

Resulting in as many as 1 in 5 people who start the process never 

even making the first payment. This can leave them with a debt 

review status on their credit reports, but none of the benefits of a 

manageable repayment plan.


PAYING OFF DEBT IS 

EXHAUSTING 

Having a lot of debt and having to constantly repay 

once you are in debt is the dark (and often hidden) side 

of credit use. When credit providers offer bigger credit 

limits, they do not discuss the stress that comes from 

owing more. 

If you have been dealing with debt, having to make hard choices and 

paying, paying and paying some more it can be really exhausting. 

When consumers enter debt review, they receive a lot of initial relief 

(and many benefits) but the stress of owing all that money and having 

to carve out a big chunk of your monthly salary remains. Sure, it is 

more manageable, but it still requires a lot of effort and sacrifice to 

pay back the money and it takes time. 

For some people, this ongoing stress can be overwhelming and 

lead to rash feelings of wanting to escape no matter the cost. The 

challenge is that “escaping” from debt review would be to plunge 

back into the total chaos and pain of the regular collections process.


LEARNING TO LIVE WITHIN 

YOUR MEANS 

Most people never do a proper 

monthly budget. They rather 

blunder through most months, 

sort of, hoping that they are not 

spending too much more than they 

earn. This can leave them confused 

about their actual financial situation, 

and unprepared for when disaster 

strikes and extra costs arise. 

When a person enters debt review, the Debt 

Counsellor will make a detailed suggestion 

in regard to how they could better budget 

each month. The challenge for new clients is 

learning to stick to this (reduced) monthly and 

annual budget.

Most people who 

enter debt review have 

been over spending 

and making impulse 

purchases for a really 

long time. To break the 

established pattern of 

bad financial behavior 

is hard, really hard. 

While it can be hard 

for consumers to make 

these needed changes, 

it is also good to 

remember that credit 

providers are also 

having to give up on 

many fees and charges 

and lots of profit when 

they help, by dropping 

interest rates for those 

in debt review.


BUDGET VS 

LIVING 

EXPENSES 

Most people find that over the years 

their cost of living increases faster 

than any increase in salary. This 

is common both for those in and 

those outside debt review. 

Recently one national Debt Counselling 

practice showed how most people have lost 

about 5% buying power each year since 2016. 

This is because inflation is growing faster than 

most people’s income. 

What this means, is that consumers who enter 

debt review should be vigilant in cutting costs 

and shopping smarter throughout their debt 

review, or they will eventually find they cannot 

keep up with their planned debt repayments 

and still have what they need each month (like 

food).


SAVE FOR A 

RAINY DAY 

One of the most common things 

that can derail a debt review is an 

unplanned expense. This might be 

because of something like, floods 

in your area, being forced to move, 

a pay-cut at work or a medical 

emergency. 

This is why it is vital to set something aside 

each month towards such expenses. Your 

Debt Counsellor will have urged you to do 

so when discussing your budget. Try to save 

something each month. 

You can also talk to your Debt Counsellor 

or financial advisor about the availability 

of specialized insurance for people in debt 

review. There are many experts who can help 

you find a really affordable product that can 

offer you added protection.


AVOID NEGATIVE THINKING 

& NEGATIVE 

PEOPLE 

Covid-19 has reminded us that if 

you spend time with sick people, it is 

likely that you will also get sick. The 

longer you are around those sick 

people the more likely you are to get 

seriously ill. 

The same can be said of negative people. If 

you spend a lot of time around such people, 

their attitudes will rub off on you. Their 

thinking will infect you with negativity. 

The same with people who do not spend 

wisely, who shop recklessly and who 

encourage you to stop paying off your debts. 

Avoid such people, they will sap you of your 

joy and desire to pay off your debt responsibly.


AVOID 

GREED 

It is hard to watch TV, surf social 

media or even walk down the road 

without being advertised to. 

These days the adverts are more and more 

targeted, and we are exposed to a barrage of 

adverts for really nice things (many of which 

we cannot realistically afford). 

If we begin to focus on what we do not have, 

we can quickly become sad. If you begin to 

daydream about having lots of nice things that 

you cannot afford, then you will be unhappy.


NEVER 

FORGET 

If you have been in debt review for 

some time, you may find that your 

family relationships have improved 

as you have had to deal with less 

stress. 

You are now able to answer calls from 

unknown numbers, and you are not worried 

about your boss finding out about your debt 

situation. 

As times goes by, you might forget about all 

the stress that you were experiencing before 

debt review. 

When some consumers think about leaving 

debt review early, and trying to access more 

credit (which they would not qualify for) they 

are not thinking about how they will have to 

face all that stress again. 

It is good to occasionally think about how bad 

things were, just so that you can focus on how 

good things are now.


MORE DEBT CAN’T HELP YOU 

GET OUT 

OF DEBT 

Debt Counsellors often tell people 

that they can’t dig themselves out of 

a hole. 

They say this to explain the idea that 

consumers cannot use more debt to pay off 

debt. It leaves you in the same or a worse 

position. 

If someone calls you up and says that you 

should leave debt review so that you can get 

more credit, BEWARE! 

There are many reasons why this is untrue. 

Unless you recently won the Lotto, then 

whoever is speaking to you is misleading you, 

don’t fall for it!


TRACK YOUR 

PROGRESS 

Imagine someone wakes you up 

early in the morning and tells you 

that you have to start running a race. 

They usher you to the start line, and 

before you are even fully awake the 

start pistol goes BANG. 

So, you start running but you have no idea 

how far you have to run, what the rules of the 

race are, or even the route, it is doubtful you 

would run for very long. 

We all like to know and understand what is 

happening, it is true in debt review as well. 

It is helpful to understand the process, to 

know the rules and know how far along we 

are towards paying off our debts.

• Getting a copy of your debt restructuring 

proposal can help you anticipate what 

the courts might order. 

• Getting a copy of your court order will 

help you know how long it will take you 

to pay off your debts. 

• Getting a monthly statement via your 

PDA will help you keep an eye on 

payments and your general progress. 

• While doing a review of your budget each 

month (maybe as a family with some 

homemade pizza for dinner) you can also 

review your progress. This gives you a 

sense of accomplishment. 

• An annual review of your circumstances 

and goals with your Debt Counsellor can 

help you stay on track. 

Do not go running into the dark with no idea 

of where you are headed, or how far you have 

left to go. Rather find out as much as you can, 

and keep track of your progress.


A POSITIVE 

MINDSET 

Our mind will often focus on our 

challenges, we tend to fixate on the 

obstacles in the road. This is natural, 

humans are problem solvers, we like 

to mull over how we are going to get 

over, around or through problems that 

come along. 

The danger can be that problems are all we 

focus on, and forget about what lies on the 

other side of the problem. By also focusing 

on the good that lies ahead, we can shift from 

a negative or problem focused mindset to a 

more positive one. 

Remember, debt review is just the first step 

in building future wealth for you and your 

family. Debt has been weighing you down. So, 

getting rid of the debt will free you up to start 

working on a happy, more prosperous future 

for yourself and your family.


TALK TO YOUR 

DEBT 

COUNSELLOR 

If you are feeling tired of repaying your debt, if you feel 

that you are not making any progress, or people are 

telling you that you should leave debt review or take 

on new credit, reach out to your Debt Counsellor. 

Your Debt Counsellor has all the facts and figures about your 

situation. They know what agreements are in place with your credit 

providers, and what your situation will look like if you suddenly 

stopped paying your debt review. 

Random strangers on the internet and perhaps even your closest 

friends do not have all that info. They are not in a good position to 

give you good advise, whereas your Debt Counsellor is. 

Your Debt Counsellor will likely have some sound advice for you on 

how to cope with stresses and the pressures you are facing. They may 

be able to help you get a fresh, positive perspective on your progress. 

So, if in doubt, give your Debt Counsellor a shout.

BREAKING 

NEWS

REPO RATE INCREASE 

The Repo Rate, which the banks borrow money at, was 

recently increased by the SA Reserve Bank. The latest in a 

series of coming increases came a little earlier than people 

had hoped and was a bit higher than originally expected (50 

Basis points instead of 25). 

Higher than hoped for inflation and lower than hoped 

for economic growth (influenced by Eskom power cuts, 

flooding in KZN and war in Ukraine) drove the Monetary 

Policy Committee to make the choice to make the, bigger 

than hoped for, increase sooner. 

This means that consumers who have debts linked to the 

prime interest rate (which is in turn linked to the Repo Rate) 

will now have to pay more for their existing debt.

ILLEGAL CREDIT 

PROVIDERS MUST PAY A 

FINE OR GO TO JAIL 

Two unregistered credit providers were arrested for breaking 

the National Credit Act. The two people (Baby Miko and 

Sibusisio Nyundu) had been lending out money and charging 

fees and interest and so they should have registered with 

the National Credit Regulator (NCR). They had not done so. 

Instead, they were offering credit to people however they 

liked and at whatever rates they liked. 

The 2 loan sharks had also been taking consumers’ bank 

and SASSA cards as “security” from consumers. This is illegal. 

The NCR and Hawks swooped in to arrest the two. 

Baby Miko now has the choice to pay R8000 or go to jail 

for 10 months and Sibusiso Nyundu can choose to spend 12 

months in jail or pay a fine of R10 000. 

Dealing with loan sharks is unsafe and can lead to many 

problems. If you are struggling to pay your bills and can’t 

get more credit then rather speak to a professional Debt 

Counsellor rather than turn to illegal loan sharks.

SCAMMERS ARRESTED 

Durban residents, Ravenda Singh and Andrew Singh have 

been arrested for their part in the 2018 R99 debt order scam. 

Father and Son, Ravenda and Andrew were arrested and 

charged with their role in a scam that involved R99 debit 

orders from November 2018 till Feb 2019. They were the 

directors of a call centre in KZN, called Sub User that was 

involved in the scam. Investigations by the banks and in 

conjunction with the Hawks revealed their involvement and 

led to their recent arrest. 

Overall, the Hawks think the scam involving a syndicate of 

operators brought in around R248 Million from unsuspecting 

consumers who were repeatedly hit with bogus debit orders 

for R99 at a time.

NCR HELP SHUT DOWN 

UNREGISTERED BUSINESS 

OFFERING DEBT REVIEW 

SERVICES 

Major Authorised Debt Mediation (based in Bloemfontein), 

who later rebranded to MSR Financial Solutions has been 

shut down by the NCT. 

The NCR began to investigate the company who were 

telling consumers they would help them deal with their debt 

through some sort of mediation. 

The company was actually trying to offer consumers services 

that would require them to register with the National Credit 

Regulator as both Debt Counsellors and Alternative Dispute 

Resolution Agents. 

They had not done so and were actually unable to live up 

to their promises. Complaints lead to the NCR investigation, 

which then lead the NCR to take the matter to the National 

Consumer Tribunal. 

The NCT handed down a big fine and ordered an audit and 

that consumers be repaid fees that have been charged.

DEBT REVIEW 

LESSON #2 

Remember to set aside money each month to 

cover annual costs such as car licenses and 

car services. 

If you forget to save a little each month during 

the year you might find that these costs sneak 

up on you and you don’t have the funds when 

the need arises.

FEEL LIKE YOU 

JUST WORK 

TO PAY YOUR 

DEBTS?

FEEL LIKE YOU JUST WORK TO PAY YOUR DEBTS? 

ARE YOU FEELING 

THE GRIND? 

Paying your debts every month through debt review 

can feel like you are not making much progress. You 

check your monthly statements and you see the 

payments going off, but feel like you are just treading 

water. The outstanding balances seem to take forever 

to get smaller. 

The good news is that you are, in fact, making progress with each 

and every debt review payment (unlike many other minimum credit 

repayments other people make). With the reduced fees and charges 

most credit providers make for those in debt review, you are paying 

off your debts faster than you would have before (remember skipping 

payments and dodging calls before you began debt review). 

So, you are making progress, but life can feel repetitive regardless. We 

can fall into a pattern of wake up, go to work, pay your debts and go to 

sleep. This can rob us of our joy. 

That feeling of every day, every week, every month being so similar, can 

leave us unmotivated and bored. How can we combat this feeling of 

being stuck in the rat race and not making progress?


ADD SOME 

SPICE 

By adding some new experiences to 

our weekly, or monthly routine we 

can get the most out of our life. 

Learning a new skill, connecting with new 

people, or going somewhere new are all great 

ways to add some spice to our routine.


HIT 

PAUSE 

“Life moves pretty fast. If you don’t 

stop and look around once in a 

while, you could miss it.” – Ferris 

Bueller 

Rather than letting every day slip away, take a 

moment or two during the day to appreciate 

the sun coming in through the window, look 

up at the clouds or really take a moment to 

savor your morning coffee.


DUMP 

MULTI- 

TASKING 

“Multitasking is overrated - I’d rather 

do one thing well than many things 

badly.” – Stewart Stafford 

Multitasking can trick you into feeling more 

productive, but it often results in you doing 

several tasks poorly, instead of doing one task 

well. Try focusing on a single task to avoid that 

feeling of time flying by.


KEEP AN EYE ON THE 

BIG PICTURE 

Checking your monthly statement 

is a good way to ensure payments 

went off. 

It can also be good to compare where your 

debts were 12 months, 24 months ago. A 

quick look at older statements, can give you a 

sense of accomplishment that comparing the 

figures to last month will not.


YOUR DEBT WON’T 

LAST 

FOREVER 

While you are paying off your debts 

now and that can get repetitive, 

your debt review will come to an 

end, and then it will be time to start 

building your wealth (and yes maybe 

buy one or two nice things and have 

a little extra fun too). 

Your time in debt review does not have to be a 

daily grind to just pay off your debts. By trying 

new things, savoring the good moments, and 

by keeping an eye on the big picture, you can 

get the most out of your time in debt review.

DEBT REVIEW 

LESSON #3 

The right time to leave debt review is not 

half way through. The best time is when 

you have successfully paid off all 

your debts. 

Your Debt Counsellor will help you with the 

legally required form and will inform the 

NCR and credit bureaus.

WWW.DEBTREVIEWAWARDS.CO.ZA 

The Debt Review Awards 

ceremony will be held in person 

in Cape Town this year and will 

be live streamed. 

Nominees and sponsors will 

be invited to the venue and 

everyone else will be able to 

watch live online.

IMPROVING 

THE CONSUMER 

EXPERIENCE

IMPROVING THE CONSUMER EXPERIENCE 

DEBT REVIEW TO THE 

RESCUE 

Where wings take dream... 

The idea of helping people find a reasonable, 

realistic way to pay off their mounting debts 

has been the dream of many governments 

around the world. When the National Credit 

Act introduced formal debt review to SA it was 

just in time to help temper the 2008 global 

financial meltdown.


THE DEBT REVIEW 

JOURNEY HAS STAYED 

MUCH THE 

SAME 

The idea has always been (and still 

is) to have a reliable, trained third 

party (a Debt Counsellor) examine 

a consumers financial situation and 

make a proposal to the courts on 

how that debt could best be paid 

back, in a sustainable way. 

While there have been many small changes, 

that made things easier for credit providers 

and Debt Counsellors to do their work over 

the years, the debt review experience for 

consumers has not changed much. Some 

would say the consumer experience has not 

significantly improved since 2007.


A BIG IMPROVEMENT FOR 

CONSUMERS 

One change, however, did make a 

big impact and helped consumers 

significantly. 

Consumers who have, for years, struggled to 

consistently repay all their credit providers 

the right amount, at the right time, can find 

managing all their new obligations under debt 

review tricky. Even one late payment or the 

wrong reference can derail years of progress 

under debt review. It is scary. 

This is why, when Payment Distribution 

Agents (PDAs) were formally included into the 

Credit Act consumers finally saw a dramatic 

improvement in their debt review experience. 

Rather than have to manage 5, 10 or 15 

different debt repayments to different credit 

provider’s in different amounts, and to all 

new account numbers, with new reference 

numbers, consumer could now have one 

payment that was sent to the PDA and the 

PDA would do all the hard work.


A BIG IMPROVEMENT FOR 

DC’S TOO 

Debt Counsellors were also happy, 

rather than thousands of clients, 

each sending the proof of payments 

each month, the PDA does the 

record keeping. 

Rather than paying fees for client 

management and workflow software, the 

PDAs helped make these available to Debt 

Counsellors. They also helped create easy-touse 

calculators, which can work out payments 

and interest charges, years in advance. 

Benay Sager of the National Debt Counsellors 

Association says that: “PDAs are an integral 

part of the debt counselling industry and 

one of the primary reasons why the industry 

has grown over the years. They serve a vital 

function of safe, secure, accurate and fast 

collection and distribution of consumer 

funds. We cannot see how the industry would 

function without participation and investment 

from the PDAs”.

Paying money to 

one of the 4 NCR 

registered PDAs 

also give consumers 

confidence that they 

are dealing with a 

reputable, trustworthy 

process. These days, 

with the prevalence 

of scams and empty 

promises, dealing 

with a PDA helps to 

give consumers the 

convenience as well as 

confidence in the debt 

review process.


MORE IMPROVEMENTS 

TO COME 

The industry is always looking to 

improve, find ways to make life 

easier for everyone. Committees 

and associations often meet to try 

find ways to do so. 

In the midst of all that effort, let’s never lose 

sight of the people who need improvements 

the most: The consumers on the debt review 

journey.

STEP-BY-STEP 

DREX GUIDE 

DREX simplifies the exchange of data and makes managing the 

debt review process less admin intensive. 

The below links take you to step-by-step guides on how to use the 

DC Portal on DREX. 

How to Register on the DC Portal 

Introduction to the DC Portal 

Accessing a Consumer's Profile

May 2022 Debtfree DebtBusters Special Edition

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