Debtfree Issue 202310 - DB

legal costs down. We see increase API integration between
the banks and PDA systems. We see consumers and Debt
Counsellors able to access account information via various
portals and we see Courts that are far more familiar with the
process.
We have also seen the industry grow and change in interesting
ways. Of the 4500 people who have qualified to be a Debt
Counsellor over the years, most have since quit. Now only
a small remnant of around 1700 people are actively helping
consumers through the process.
The industry has embraced advanced client management
and calculation software and these days we see many Debt
Counsellors operating together in larger sized practices pooling
resources than ever before.
Back then we thought one practice having 4000 clients was
massive. Now, we see many practices with over 10 000 clients
(and some with many more). Though the number of consumers
coming into and out of the process is still similar to that in 2014
(tragic) the role players have changed somewhat.
Other things have also changed in a decade. Common
challenges back then have fortunately come and gone. Gone
are the days of mass “terminations” in an attempt to get people
out of debt review.