Debtfree DIGI Aug 2013

South Africa’s debt counselling magazine

DEBT COUNSELLING EXPLAINED DTI MINISTER ROB DAVIES INTERVIEW August 2013 www.debtfreedigi.co.za

3 STEP

BUDGET

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Gerhard Dyzel gerhard@dcpartner.co.za 082 828 7595 044 873 4532 (ext 126)

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• Automated client statements per distribution in the form of an e-mail or sms • Daily Distributions on ALL clients • Dedicated account managers for EACH debt counsellor • 24hour access to system, including distributions data - From any PC, Cell phone or tablet with internet access • Individual, dedicated business bank account per debt counsellor • Transparency – Access to all data 24hrs per day • View your bank statements on our system • We will follow up on Default clients, unpaid funds and unidentified deposits • Wide selection of reports available directly from the system

S im plicit y

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27(0)16 987as5004/ Bitech is recognised the leading Debt Counsellor software system supplier.

27(0)16 987 5006/ SomeCounsellor features ofrequirements the Simplicityeffortlessly. system are completely unique 27(0)16 987 2369  Simplicity is rich in functionality and catersfor all Debt unique, amongst others is the ability to create bitech.support@iafrica.com customised legal documentation instantaneously.  Simplicity is leading edge technology and Bitech stay at the forefront of development - we continue to lead the way!

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Bitech prides itself on its afterintegrated sales service and the PDA, The Simplicity system is fully with Hyphen support it provides Debt Counsellors asuninterrupted which provides you,tothe Debt Counsellor,- this withisan important as service the excellence the Simplicity product! and efficient with noof manual intervention and in total control.

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Some features of the Simplicity system are completely unique unique, amongst others is the ability to create customised legal documentation instantaneously.

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Bitech prides itself on its after sales service and the support it provides to Debt Counsellors - this is as important as the excellence of the Simplicity product!

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Hyphen Technology (Pty) Limited is a member of the FirstRand Group 

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 Hyphen PDA essentially operates with the use of banking 27(0)11 303 0060 extension 2 systems (iSeries PDA and Hyphen Technology (Pty)mainframe Limited is acomputers) member ofand thethe FirstRand Group Payments Engine are fully integrated - as a result you will seldom, ever, the of status of your collections or Limited, which is wholly-owned  Hyphen if PDA is aquery division Hyphen Technology (Pty) by the FirstRand Group pdaadmin@hyphen.co.za admin@hyphenpda.co.za payments.

- financial soundness is important when considering a PDA!   

The reports areofeverything a Debt Counsellor Hyphen PDAgenerated is at the top its game and is unrivalled in the will need to manage the business reporting is immediate, collections and payment space. current and always available.

Hyphen PDA essentially operates with the use of banking

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EDITOR’S NOTE

CONTENTS

Statistics show that last month was one of the busiest months for Debt Counsellors ever. In fact, last month had almost twice the amount of people applying in a month than in a average month, last year.

This means two things. One: That more people than ever are aware of the process and taking advantage of it. Secondly that Debt Counsellors are going to be busier than ever over the next few months. It is in no way in doubt that consumers (both under debt review and not) are feeling the increased pressure of rising costs. If you seem to be running out of funds each month then make use of our 3 step budget to track where the money is going. We also take a look at various role players in this issue. We consider the experiences of a Debt Counsellor, talk about FNB’s Debt Review Department and see the value of using a Payment Distribution Agency to handle your money. This issue we also talk to the Department of Trade and Industry who are proposing some important changes to the National Credit Act. These changes will effect everyone but especially those involved in debt review. We hope you enjoy the issue. Just picture yourself in our cover: relaxed, down at the beach, on holiday. One day soon that could be you. Just stick to your plan and soon you’ll be debt free.

05 Editors notes 07 Debt Review

Explained 09 Recent industry

developments 10 Debt Counsellor

Focus 12 DTI Minister Rob Davies 15 PDA 16 3 Step Budget

21 All Pro DC Newsletter 22 DCASA annual

conference 24 DC Associations

announcemnet board 28 Service Directory

FNB DEBT REVIEW CENTRE The FNB Debt Review Centre, under the leadership of Lynne Loizakos, Head of Operations, is committed to making the debt review process as smooth as possible.

Partnering with Debt Counsellors we have committed ourselves to supporting our financially burdened clients who we understand are undergoing emotional as well as financial challenges. We are very aware of our responsibility in managing the processes as efficiently as possible. We continue to develop enduring and rewarding business relationships with our partners so that we can efficiently address problems as they arise.

The Call Centre Manager, Lynette Fearick and her dedicated team, who can be contacted on 0860 362 002 or frbdebtreviewcentre@firstrandbank.co.za, will endeavor to answer all queries or help redirect callers to the correct person as needed. Recently we have extended our call centre team to include an outbound component which will proactively follow up on matters in a time efficient and friendly way.

We recognize and understand the importance of turnaround times and assure you of our continued commitment in adhering to the SLA’s or to wherever possible even improve thereon. We are however aware

that quantity is never a substitute for quality and would rather spend a little extra time on a complicated issue than compromise the quality of the decision.

For proposals/requests outside of the norm, which cannot be accommodated in the mainstream process we have introduced a new department called “Quick Fix” under the management of Christo Hattingh. Christo and his team are all well respected credit analysts who will endeavor to find tailored and innovative solutions to every problem.

They can be contacted via e mail on fnbquickfix@fnb.co.za.

The efficiency of the centre continues to be our first priority, therefore if you have any tips for improvement, please share them with us and wherever possible we will endeavor to implement your helpful suggestions.

First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20)

DEBT REVIEW EXPLAINED Debtfree asked Debt Counsellor Adv. Ardiel Thenissen of Credit Matters to help explain the debt review process.

Debt Review is a formal process that a consumer who cannot afford to pay his/her debt may follow in order to alleviate his/her plight. The struggling consumer may make use of the assistance of a registered debt counsellor to assist in this process.

The debt counsellor will interview and assess the consumer’s situation, assist in completing an application form and do an initial assessment. Formal notices advising creditors of the application will be sent to creditors who are in return expected to provide the debt counsellor with outstanding balances on account, interest rates charged and expected monthly instalment.

With all information in hand the debt counsellor will do a proper investigation to determine whether or not the consumer is over indebted by looking at the consumer’s income and necessary living expenses to determine the amount available to spend on settling debt monthly. If the available amount is less than what is required to pay the monthly bills with then the consumer is over indebted and entitled to apply for debt review. If the money available is more than what is required to pay the monthly debt with the consumer is not over indebted and not entitled to apply for debt review.

Once it has been determined that the consumer is over indebted, the debt counsellor will notify

the creditors, assist the consumer with working with a practical budget and negotiate with the creditors on lower interest rates, lower monthly repayments and/or extending the payment term.

The proposals will either be accepted or the creditors will come up with counter proposals.

The proposals will then be submitted to court for approval.

The benefit of a formal structured process is that the consumer will have the assistance of a debt counsellor who knows how to negotiate with creditors.

Debt counselling is a legal way of protecting assets and avoiding costly judgments -The process is overseen by a competent court that can grant an order rearranging the consumer’s debt.

Consumers must remember to use NCR accredited debt counsellors only. They should act timeously – do not ignore the debt problem as it will not go away on its own. It is better to seek help before creditors start taking legal action.

Consumers who are under debt review must ask for regular statements and must constantly monitor their balances.

Hey

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RECENT INDUSTRY DEVELOPMENTS For daily debt counselling news in 3 minutes or less visit www.debtfreedigi.co.za

AMENDING THE NATIONAL CREDIT ACT

FNB DEBT REVIEW DEPARTMENT MOVE

The Department of Trade and Industry (the DTI) recently submitted a draft Amendment Bill for the National Credit Act. This means that the DTI are suggesting changes to the National Credit Act. They have called for comments from both the industry as well as the public. They then take those suggestions and create a final document which is put before Parliament. If Parliament approve the document the proposed changes will eventually be made law. It is hoped that the changes to the Credit Act will bring more clarity to some sections of the Act as well as give consumers better protection under debt review while still balancing the needs of creditors.

FNB Debt Review’s new address is: FNB Towers 8th Floor 27 Diagonal Street JOHANNESBURG CBD 2000

CONSUMER PROTECTION EXCELLENCE - NO MORE The National Credit Regulator ( NCR) recently decided not to renew the licence for one of the 4 registered Payment Distribution Agencies who handle the money side of things for consumers under debt review. Debt Counsellors were advised to help their clients to move to one of the remaining 3 registered Payment Distribution Agencies.

CREDIT MATTERS MOVE Well known debt counselling firm Credit Matters have moved offices.

Their new address is: 14th floor The Pinnacle Corner Strand & Burg Street Cape Town Tel: 021 202 1100

AFRICAN BANK AUTOMATE THEIR 17.1 PROCESS When Debt Counsellors send African Bank 17.1 documents (to tell them a consumer is under debt review) they should be aware that African Bank have automated this process and they should not attach requests for African Bank to cancel Debit orders in this email. Such requests should be sent separately along with a Power of Attorney document.

Debt Counsellor Focus

Adv. Ardiel Thenissen 021 431 9100 What did you do before becoming a Debt Counsellor?

I am an admitted and practicing advocate of the High Court. I have been practicing law since 1996 and became a DC in July 2007

Who are your most co-operative and least cooperative credit provider at the moment?

Consumer Friend, though not a credit provider themselves, are always ready to help. It is not always easy to get answers from ABSA bank.

What is the biggest challenge facing Debt Counsellors at the moment?

The constant change in processes and/or the interpretation of the law. Courts insisting that it cannot change interest rates especially in instances where the credit providers have agreed in writing to a change in interest rates.

What is the biggest challenge facing your What would you say makes your business a consumers at the moment? success?

Reconciling outstanding balances with a We focus on providing a good customer projected payment plan that was made an experience. We believe in team work and our order of court. Consumers does not understand internal processes were developed with this that the systems used by debt counsellors and end result in mind i.e. liberating our clients those used by credit providers differ and that from the debt burden. Our staff were trained the calculation methods may as a result of in dealing with complex issues and we work this also differ and often dispute outstanding closely with our attorneys to ensure that they balances. know what it is that we want, and we know what it is that they require in order to take a What advice do you have for consumers matter successfully through the legal process under debt review?

Where do you find new business?

Ensure that you make regular monthly Because of the good service we provide to our payments and increase it whenever you can. clients, they then spread the word and bring Check your statements regularly and discuss in referral business. We also aim to educate any discrepancies/changes with your debt the public by using various forums such as tv counsellor immediately. programs and our internet web site.

What area (of SA) do you practice in?

Although our Head Office is situated in Cape Town CBD, Credit Matters offers our services to the broader South African public. We have three registered debt counsellors and our support staff attended debt counselling courses as well. We also have a number of paralegals working for us

DTI MINSTER ROB DAVIES to South Africa in August 1990 and began to work in the Department of Economic Policy at ANC Head Office in Johannesburg.

He also worked as Professor and Co-Director of Centre for Southern African Studies at University of the Western Cape 1990-1994 and Chaired Portfolio Committees on Trade and Industry and Finance as well as the Constitutional Assembly Sub-Committee on Chapter 13 of the Constitution: Finance.

Debtfree managed to pose a few questions to the Minister about debt counselling and the NCA. Do you feel that the National Credit Act has been accomplishing it’s purpose over the last 6 years?

The NCA has been quite effective in its primary mandate of creating a fair, transparent, Born in 1948 Dr. Rob Davies has served as competitive, sustainable, responsible, efficient the Minister of Trade and Industry since and accessible credit market. Almost 20 Million May 2009. Minister Davies has a Honours South African consumers are now credit active. degree in Economics and a Masters degree in The NCA has also been effective in addressing International Relations from the University of over-indebtedness through the regulation Southampton, UK. He also holds a Doctorate of reckless lending and creating affordability degree from the University of Sussex in Political assessment measures and increasing access to credit at more reasonable prices.

Studies.

Minister Davies has been a Member of Do you feel the NCA has protected SA from Parliament since 1994 just four years after being harder hit by the worldwide economic returning from exile in Mozabique. He returned downturn?

There is general consensus that the NCA has for more Debt Counsellors, particularly in been quite effective in tempering the effect of impoverished rural areas. the global financial crisis. The minimal impact Do you feel that at present this purpose of the is the evidence.

NCA is being met or are creditors still using Why is there now a need to amend the NCA? their larger pockets to drown consumers in The DTI decided to assess the effectiveness of unnecessary litigation? the NCA as part of its impact monitoring and The NCA has specific provisions that make it assessment exercise and in order to deal with difficult for creditors to “drown consumers in the implementation challenges that had to be unnecessary litigation�. One of these provisions resolved through courts sometimes resulting in prohibits a credit provider from commencing conflicting decisions. New industry participants legal proceedings without giving a consumer such as Payment Distribution Agents (PDAs) an opportunity to approach a debt counsellor also surfaced and have to be regulated. for debt review.

Certain practices such as the cost of credit life insurance and unintended consequences Are consumers being given too much power such as instances where the protection of in SA? Will this cause creditors to go out of the Act appears to be extended only to the business or start to charge even more for very wealthy. The improved legislation will credit?

The NCA properly balances the interests of both strengthen its enforcement. consumers and creditors. Protection is equally Do you feel Debt Counsellors are helping extended. Affordability and debt repayment are the cornerstones of credit granting and consumers and the economy?

Debt counsellors play a very important role the debt recovery processes. within the NCA scheme. They provide an important link between the consumer and Debt Counsellors don’t restructure debt the credit providers and where necessary they merely make proposals to the courts. the courts. Without a financial assessment by In fact, Magistrates restructure debt. Have the Debt Counsellor, debt re-arrangement Magistrates been consulted about draft would not be possible resulting in consumers changes to the NCA? losing their property and credit providers not The DTI has consulted with the Department of receiving payments and the general economy Justice and Constitutional Development over would then suffer. There is currently room the necessary improvements. The regulator,

NCR, has been working very closely with magistrates to tease out some on the practical problems that have been experienced in the past. The engagements have been quite successful and have already vastly improved the implementation of the NCA. There has been some talk in the past about a type of voluntary debt review for consumers.

The benefits would be that it would be faster, not need to go to court and would cost less. All of these are great benefits.

Debt Counsellors have however said this will prejudice consumers since creditors will simply go ahead with legal action (by mistake or on purpose) and that creditors could begin to regulate the process. Does the DTI support such plans?

The DTI is investigating the advantages and the disadvantages of voluntary debt mediation and is open to receive inputs on some of the perceived challenges. Some of these relate to the credibility of such a process when it comes to matters such as impartiality of the debt mediators and lack of oversight by courts.

be set before Parliament?

The DTI has published both the reviewed policy framework and the amending Bill for public comments. The DTI officials have conducted public hearings throughout the country (7 provinces) and have received comments and inputs from the primary stakeholders in the credit markets. The initial documents have been improved and will be presented to Cabinet in the coming weeks for approval to introduce into Parliament.

The National Credit Act has really helped stabilise South Africa’s economy and the introduction of Debt Review has created the most affordable debt collection process for creditors as well as brought great relief to hundreds of thousands of South Africans. It is hoped that the changes to the NCA will not only improve things for all parties but provide greater clarity on currently confused issues.

Debtfree wish to thank the Minister for taking the time to provide answers to our questions.

Special thanks to: Sidwell Moloantoa Medupe What should consumers do if they hit hard Chief Director Media Liaison (Spokesperson) financial times and are struggling to make DTI ends meet and pay their debts?

Consumers should immediately approach a debt counsellor with statements of all their accounts and proof of income. The debt counsellor will conduct a financial assessment and try to negotiate with credit providers. If the consumer is over-indebted, the debt counsellor will apply to court for a debt re-arrangement based on how much the consumer can pay.

Roughly when should we expect the NCA proposals process to wrap up and matters to

It’s wise to use a Payment Distribution Agency if you’re undergoing Debt Counselling Payment Distribution Agencies (PDA’s) are independent companies accredited by the National Credit Regulator (NCR) to collect funds from over indebted consumers, and to re-distribute them to their various creditors, according to a re-structured payment plan prepared by an accredited Debt Counsellor.

Payment Distribution Agencies are there to make life easier for you and your Debt Counsellor, saving time, money and ultimately protecting you. Recent stats from the NCR show that PDA’s currently distribute over R320 million a month.

The average consumer on Debt Review has over eleven creditors that need to be paid monthly. This alone can be an administrative burden. Additionally every debit order or payment that is made carries a charge. Now all you need to do is make one payment to a PDA and the PDA does the rest.

monthly statements and reports to consumers, the NCR, Creditors and Debt Counsellors. All this ensures that your money is being handled properly.

PDA’s basically oil the flow of money between the various parties in the industry, ensuring debt re-payment plans are stored and correctly administered, validating transactions according to banking rules, and using various collection methods, like debit orders, such as Naedo and stop orders to facilitate and improve the collection of money.

Some PDA’s like the National Payment Distribution Agency (NPDA) have also invested in sophisticated call centres to promptly address queries and deliver great customer service. Here are the words of a Debt Review consumer at the end of his debt review journey, expressing his gratitude for the work done, words which he borrowed in part from Nelson Mandela: “I have taken a moment here to rest, to steal a view of the glorious vista that surrounds me, to look back on the distance I have come. But I dare not linger, for my long walk is not yet ended. This was the journey worth taking... I have learn a lot from this journey.”

The NCR regularly audits and renews the licenses of PDA’s in the industry, ensuring compliance with strict guidelines, whilst adhering to Reserve Bank regulations. PDA’s are expected to keep comprehensive audit trails of all transactions and provide detailed Wise words indeed.

3 Step Budget A written budget will help you see if you have enough money each month to survive. If you already know you don’t have enough, it will help you see where the problem is. Here is an easy 3 step budget that you can use as a guide.

STEP 1

How much are you earning?

Remember to add together all money coming into your home. If you get paid weekly then add all 4 weeks together. If you have several people in the house earning money add everyone’s income together. Remember to use the amount each person gets after tax and other deductions.

How much I bring home each month after tax: Others income after taxes: Total:

STEP 2

How much do you owe your creditors each month?

Who do you owe money to each month? We are talking loans and bonds and cars here not your groceries and rent. How much are they asking for?

Try to list your debts from biggest to smallest.

Name of Creditor

Amount they want this month

Total amount I owe them

STEP 3

How much do you need to get by each month?

How much does it cost for you to make it through the month. How much are you spending on food, electricity, transport and other day to day things.

Also remember that some expenses you pay once a year and should be saving towards each month (you should be... so add them in anyway)

COMMITMENTS

MONTHLY EXPENSE

COMMITMENTS

Rent

Car license saving (if you were saving a bit for that each month)

Rates & Levies

Car Service saving

Water & Waste / Sewage Electricity

Petrol or other Transportation

Insurance

School Fees

Groceries & Toiletries & Cosmetics

School Clothes & books / stationery Saving (if you were saving a bit for that

(If you have a bond put it in Step 2 not here)

(On your Life, House & Car)

(bus, taxi etc if you don’t own a car incl.

Transport to school)

each month)

Snacks (at work / school)

Pocket money

Alcohol & Cigarettes

Monthly medication

TV license (per month)

Banking fees

Going out for dinner, entertainment, movies, DSTV, DVD / video rentals

Newspapers & Magazine subscriptions

Telephone Landline & Mobile Phones

Alimony

Internet & Computer rental

Clothing not on account

Char / House Keeper / Nanny

Tithe (church) or Charity /Donations

Total for this column:

Total for this column:

Now add both totals together to get

THE GRAND TOTAL

(incl. Contact Lenses)

MONTHLY EXPENSE

GOOD OR BAD? Now find out if you have enough

Total 1 (Income): Minus total 2 (Debt): Minus total 3 (Expenses): Result: If you have money left over: Good for you! This means you have some money that you can save each month toward unexpected events and expenses.

If you have a negative figure (not enough money) you have 3 options: Option 1: You need to earn more money as a household to cover your costs.

Option 2: You need to cut down on your monthly costs.

Option 3: If your debts are too much you should talk to your creditors and explain that you are having a tough time and want to pay a bit less to each of them. If that doesn’t work and they don’t want to help you need to go talk to a professional Debt Counsellor about debt review and find out how you can pay your creditors back through debt review.

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insurance done right Call us 086 126 6562 Marijke Wessels Portfolio Manager, Gauteng, KZN & Free State Mobile 082 729 3833 Email marijke.w@one.za.com Sam Haasbroek Portfolio Manager, Western, Eastern Cape & Northern Cape Mobile 082 550 7294 Email sam.h@one.za.com

www.one.za.com One is an authorised financial services provider – FSP 8783

Email pda@dcpartner.co.za Mobile 079 793 3810 DC Partner has representatives country wide who visit our Debt Counsellor clients every month. If you are in Kwazulu Natal, Mpumalanga, Limpopo or Gauteng areas here is your local contact person: Francois Van Zyl "The debt counselling industry is truly going into a phase where all major role players are realizing that they need each other to make the system work.

Our main purpose is to help the consumer manage their debt. And to make sure their payments go to the correct creditors. A happy consumer is the future of our industry".

T S U G AU

NEWSLETTER

The Alliance of Professional Debt Counsellors have been very busy this last month working on various important developments for both the industry as well as the association.

NPO

Firstly, we are happy to announce that our registration as a NPO or Not for Profit Organisation has been completed. We are very happy about this as it sends the right message as to our intentions. We are not here to enrich ourselves but to assist our fellow DCs and our clients.

AGM

Lastly we are excited to announce that our Annual General Meeting will be held on the 17th of October this year. Plan ahead so that you can attend. The venue is the Rocklands Adventure Centre in Simons Town. Come enjoy the picturesque views, the good company and, of course, the important Alliance matters.

August Workshop

We have also been busy working on our upcoming Workshop on the 21st of August 2013 in Cape Town. Debt Counsellors from all Associations are welcome. The Workshop will be held at the Parow Golf Course and will start at 10. Come early to chat and have a cup of tea.

The workshop will focus in on two major issues all Debt Counsellors are facing at the moment, namely: Balance end differences and debit order cancellations.

CONTACT DETAILS secretary@allprodc.org FORUM: www.debtconcern.webs.com WEBSITE: www.allprodc.org FACEBOOK: www.facebook.com/AllProDC TWITTER: www.twitter.com/AllProDC

DCASA hold their annual conference The Debt Counsellors Association of South Africa (known as DCASA) hosted their annual conference in August.

DCASA`s Annual Conference in Gauteng was well attended by over 250 guests. The audience consisted of Debt Counsellors, Creditor Providers, Service Providers (such as PDA`s and Insurance brokers) and other interested parties. Mel da Silva played the role of chairperson for the day( he was later rewarded with a bottle of wine for his duties).

The conference began with an introduction

by Paul Slot. He not only discussed the role of DCASA but also new developments in the industry such as the new joint forum (proposed by the NCR) which will now replace DRAC. This forum will meet for the first time in September this year. Last month s well over 11000 people apply for debt review. Recent months have seen a consistent increase in the number of applications. This speaks to the increased pressure consumers are feeling at the moment.

Nomsa Motshegare CEO of the National Credit Regulator was the first guest speaker of the day. She spoke in particular about the role of the NCR and some recent developments. It was gratifying for Debt Counsellors to see the

NCR paying serious attention to DCs. Ingrid Goodspeed spoke about the twin peaks regulatory plan and touched very briefly on the impact it will have on Debt Counsellors.

It seems that the plan is to see all DCs qualify as financial advisors. As she left around lunch time she was unfortunately unable to clarify this point during the afternoon Q&A session.

Ingrid and Nomsa fielded a question each before a short tea break which allowed for some networking and catching up.

Dawie Roost gave a nice and humourous explanation of world economy. He pointed out how SA is beginning to lag behind in growth in Africa. Debt levels in SA incredibly high but very slowly reducing. Large need for debt review. SA economy is not doing well. Growth will be low for the next few years and the cost of living will continue to rise.

After a delicious lunch and opportunity to talk to the service providers there was a prize-

applications each day. Interestingly 92% of proposals are consented to. He promoted the Louis da Cruz spoke next from a credit provider concept of a data switch as being the solution perspective. He was followed by Hennie to many industry issues.

Ferreira CEO of MFSA who began his speech with a few amusing anecdotes after which he The conference then changed format to a discussed the MFSA and how it is organised. question and answer session with panel of Quoting Yogi Berra he said ” the future ain`t experts/speakers. The day ended at that point what it used to be”. All members in the industry and as farewell were said it was clear that, have realised that the industry is actually very though many had to hurry off, all had enjoyed different to what we all thought it was going to the event. be. He discussed how MFSA stress sustainability ethical behaviour for their members. giving from both Hyphen and DCM.

Many micro financiers are consolidating and there are now hundreds less micro financiers than this time last year.

He enumerated 9 burning issues including the recent withdrawal of NCR recognition for the Codes of Conduct and the upcoming credit amnesty. MFSA think it is a bad idea.

He pointed out that like it or not politics is part of credit and the credit industry. It is a reality.

In his view selling the wrong finance option to someone who can’t afford it or is vulnerable is nothing short of criminal.

In an amusing section he discussed “Co opertition “ /” frenemies” – companies in same industry that need to find a way to cooperate and work to improve industry.

His final point was that self regulation does not work. If it is attempted ,a strong framework is required.

Rob Easton-Berry spoke next. He revealed that Consumer Friend are dealing with 350

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DC ASSOCIATIONS ANNOUNCEMENTS

DEBT COUNSELLORS ASSOCIATIONS ANNOUNCEMENT BOARD The much anticipated Annual DCASA Conference was held on the 21st of August at Emperors Palace, Gauteng. Guest Speakers included: The NCR, Dawie Roodt, Ingrid Goodspeed, Rob Eastonberry, louis de Cruz and Hennie Ferreira. The event was attended by over 250 guests.

The DCU wish to applauded the hard work done by Moneyweb in digging below the surface regarding garnishee orders (EAOs) in their recent articles:

Regional Meeting: 30 August KZN Branch Meeting; starts at 10:00, Westville Country Club

Part 2: http://www.moneyweb.co.za/moneywebspecial-investigations/the-deep-deep-rot-in-saslending-system-part-ii

www.dcasa.co.za

August 2013 is our 1 year anniversary We wish to say a special thank you to all our members and stakeholders for your support.

Regional Meetings: 23 August 2013: Kwazulu Natal (Beachwood Room @ Durban Country Club) 30 August 2013: Western Cape (Office 3, Village Gate (above FNB) Beach Crescent, Hout Bay) www.bdcf.co.za

Part 1: http://www.moneyweb.co.za/moneywebspecial-investigations/the-deep-deep-rot-in-saslending-system?sn=2009%20Detail

For more information contact: chairman@newera.org.za www.newera.org.za

The Alliance of Professional Debt Counsellor’s Annual General Meeting will be held on the 17th of October this year.

Plan ahead so that you can attend. The venue is the Rocklands Adventure Centre in Simons Town.

Look out for our Newsletter in this issue of Debtfree DIGI

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STEYN COETZEE PROFESSIONAL DEBT COUNSELLING ATTORNEYS TEL: 021 872 1968 FAX: 021 872 2678 EMAIL: adri@steyncoetzee.co.za 11 MARKET STREET PAARL 7646

021 872 1968

South Africa’s largest Debt Counsellors National call centre

086 111 6197

www.creditmatters.co.za

DebtWise Now generate NCT documentation right from the system

LOGIKOS Credit Management Services CC

Skuldprobleme Maklik Opgelos!

GRATIS konsultasie

Specialising in investigation of Reckless and Unlawful Credit Agreements Registered Debt Counsellor Nelspruit Office Tel: 013 764 1045 Cell: 082 872 8035 E-mail: barnardt.m@telkomsa.net or logikos@telkomsa.net

Pretoria 012 330 0428 / 078 031 4264 renee@dfx.co.za

Does your Debt Counsellor belong to a professional association?

ZunĂŠ Coetzer D E B T

C O U N S E L L O R S

Cell: 082 776 9280 9 Plettenberg Street Fax: 086 508 5444 Dan Pienaar Tel: 051 436 4515 Bloemfontein Email: dc@zunecoetzer.co.za www.zunecoetzer.co.za Skype: zune.coetzer Twitter: @zunedc Facebook: www.facebook.com/zune.coetzerdebtcounsellors

SERVICE DIRE DEBT COUNSELLING AA Debt Counselling Centre Anthea Johannes NCRDC531 Tel: +27 (0) 21 982 0522 Cell: +27 (0) 84 402 7032 Alan Watts NCRDC 962 NCR registered Debt Counsellor Tel: 084 4448439 Fax: 086 6501954 alan@active-debt-counselling.co.za www.active-debt-counselling.co.za Central SA Debt Counsellors 082 950 7806 Fax: 086 563 1621 Consumer Assist Johann Vermeulen Tel: 0861 628 628 Credit Matters 14th floor The Pinnacle Corner Strand and Burg Streets Cape Town Tel: 021 202 1100 info@creditmatters.co.za CS Debt Counselling Bernidene Smith NCRDC 764 057 352 4115/352 5000 Welkom - Free state Darran Manikam NCRDC704 debt@mailbox.co.za Debtbusters 0861 663 328 (NO DEBT) Debt Budget Tel: 021 824 8885

Debt Solve Debt Counsellors Office: 033 397 0945

DEBTINC NCRDC’s 1071, 1188, 1189.

Tel: (022) 713-2021 Fax: (022) 713-2028 Share Call: 0861 20 21 20 E-mail: Info@debtinclusive.co.za Website: www.debtinclusive.co.za SMS: HELP to 35075 DebtSafe 0861 100 999 Debt Serious We are serious about debt Vida Scheepers NCRDC1792 Po box 394, Garsfontein, Pretoria 0042 Fax no: 086 553 9403 vscheepers@mweb.co.za Debt Rehab Colleen Van Wyk(BCom, LLB) Debt Counsellor NCRDC2619 Tel: 083 290 0848 Tel: 011 740 7374 Fax: 086 716 9694 Website: http://debtrehab.co.za Debt eezy Your Debt Solution made Easy Ashley Carstens NCRDC858 Tel: 021 839 2809 Fax: 083 512 4160 / 086 665 9125

Email: debt.eezy@gmail.com Website: www.thedci.co.za

Debt Rescue Neil Roets NCR DC 474 Cell: 083 644 7406 Tel: 0861 800 009 Fax: 086 523 0617 E-mail: admin@debtrescue.co.za www.debtrescue.co.za

Debt Management & Counseling Services “The greatest glory in living lies not in never falling, but in rising every time we fall.”

- Nelson Mandela Derry Burge NCRDC108 140 Irene Avenue, La Concorde, Somerset West, 7130 Tel: 021 855 5997 Cell: 074 177 5375 Fax: 021 855 1195 or 0865413200 E-mail: dburge@telkomsa.net Durban Debt Counselling Services Suite 112, 1st floor Union Club Building 353 Sm ith Street Durban, 4001 Tel: 031 301-7893 Fax: 031 301-5809 phumla.ngema@telkomsa.net

ECTORY Debt Counselling South Africa Cape Town Branch Tel: 021 919 66 94 Rod De Witt NCRDC831 Visit: www.debtcounsellingsa.co.za

Fair Finance Solutions Your debt is our priority Amanda Fair Registered Debt Counsellor NCR946 553 Jacqueline Drive Garsfontein Pretoria Tel: 0861 26 26 32 Fax: 082 921 7093 Cell: 086 564 3674 amanda@fairdebtcounselling.co.za www.fairdebtcounselling.co.za Fincorp debt Counsellors cc Cecilia Zwarts fincorpdc@yahoo.com Holistic Debt Counsellors info@holisticdc.co.za

Help-U-Debt (Parys) Marilouise 082 920 6249 Help-U-Debt (Vanderbijlpark) Herma 083 320 8303 Incentive Debt Counselling “Paving the way to a Debt Free Tommorrow” Darran Manikam NCRDC704 Tel: (031) 409 9379 Fax: (031) 409 1327 Cell: 0845898286 Branches: Phoenix and Shallcross Indigo debt counsellors CC Tel: 087 808 9734 Fax: 086 580 8675 indigodc@iburst.co.za MG Consulting Strand - Helderberg Area Telkom : 021 853 4537 Mobile Phone: 082 450 7459 Fax Number: 0866 220 690 E-Mail: info@mgconsulting www.mgconsulting.co.za

Helpdesk Debt Counsellors Allan Hoffman Tel: 0861 000 754 Help-U-Debt (Vaal Triangle) Wanine Tel: 082 445 3967 Help-U-Debt (Potchefstroom) Madra 083 390 3275

Mzansi Debt Counselling Octavia Hlatshwayo Tel: 011 868 1185 Fax: 0861 00 22 70 octavia@mzansidc.co.za www.mzansidc.co.za

The best angle to approach debt is the Triangle Caledon - Western Cape Contact Person: Yolande 8 Hoop Street, 7230 Caledon caledon@triangletrust.co.za Tel: 028 212 2537 Ceres - Western Cape Leyll str 61, 683 Ceres andre@triangletrust.co.za Tel: 023 312 1292 Fax: 023 312 2119 Worcester - Western Cape 71 Porter Street 6850 Longitude: 19.44305 Latitude: -33.64942 worcester@triangletrust.co.za Tel: 0233420576 Fax: 086656801 Bloemfontein - Free State 94 Zastron, 9301 Bloemfontein Contact Person: Yolande bloemfontein@triangletrust.co.za Tel: +27 51 448 2828 Fax: +27 51 447 9481 Viljoenskroon - Free State 35 Denyssen Street, 7230 Contact Person: Johann Olivier viljoenskroon@triangletrust.co.za Phone: +27 56 343 0352 Fax: +27 56 343 035 Welkom – Free State 329 Stateway, 9460 Welkom Contact Person: Susan Roux Email: welkom@triangletrust.co.za Tel: +27 57 352 6117 Fax: +27 57-352 2355

SERVICE DIRE EASTERN CAPE: DRS ALBANY Office: 041 373 9693 Email: dcfull@drssa.co.za BORDER REGION: DRS BEACON BAY Johan Pretorius Cell: 082 324 4038 Office: 043 748 1139 DRS BUFFALO CITY Herman Marias Cell: 082 378 3743 Office: 043 7210652 DRS KING WILLIAMS TOWN Herman Marais Cell: 082 378 3743 Email: herman@drssa.co.za DRS CRADOCK Office: 043 721 0652 DRS QUEENSTOWN Herman Marais Cell: 082 378 3743 Email: herman@drssa.co.za DRS MTHATHA Herman Marais Cell: 082 378 3743 Email: herman@drssa.co.za

DRS PORT ELIZABETH Derryn Fish Cell: 084 515 6135 Office: 041 453 8961 Email: derryn@drssa.co.za

DRS ALGOA Marius Weyers Cell: 083 497 3219 Email: marius@drssa.co.za

DRS SIDWELL EXPRESS Keith Le Roux Cell: 073 207 1675 Office: 041 451 0474 Email: Keith@drssa.co.za

DRS BOND CHOICE Andrea Atkinson Office: 041 393 7000 Email: andrea.atkinson@drssa.co.za

DRS SOMMERSET EAST Luther De Bruyn Cell: 082 568 2970 Office: 042 243 1107 Email: luther@drssa.co.za

DRS CENTRAL EXPRESS Derryn Fish Office: 041 373 9693586 2020 Email: derrynfish@drssa.co.za DRS DESPATCH Isabe Landman Cell: 072 337 3328 Office: 041 933 1189 Email: isabe@drssa.co.za DRS HUMANSDORP Morne Steyn Cell: 083 298 8182 Office: 042 291 0135 Email: Morne@drssa.co.za DRS NKONKOBE (Fort Beaufort) Bernadine von der Decken Cell: 083 2859289 Office: 046 645 1898 Email: bernadine@drssa.co.za DRS KIRKWOOD Keith Le Roux Cell: 073 207 1675 Office: 041 451 0474 Email: keith@drssa.co.za

DRS UTENHAGE Lynn Lindoor Cell: 083 7174 183 Email: Lynnl@drssa.co.za FREESTATE: DRS GOLDFIELDS (Welkom) Irvin Billy (Derryn Fish) Cell: 072 114 4427 Office: 081 319 0083 Email: Billy@drssa.co.za DRS MANGAUNG Amanda Johnson Office: 041 373 9693 Email: dcfull@drssa.co.za DRS FOREISTATA EXPRESS (Bloemfontein) Derryn Fish Office: 041 373 9693 Email: dcexpress@drssa.co.za

ECTORY DRS SOUTH FREESTATE Nelmarie De lange Cell: 079 236 3615 Office: 053 591 0734 Email: nelmarie@drssa.co.za GARDEN ROUTE:

DRS PRETORIA NOORD Office: 041 373 9693 Email: dcfull@drssa.co.za DRS ROODEPOORT EXPRESS Derryn Fish Office: 041 373 9693 Email: dcexpress@drssa.co.za

DRS DE AAR Veronique Louw (Derryn Fish) Cell: 076 382 2020 Office: 053 631 1189 Email: deaar1@drssa.co.za

DRS RUSTENBURG Amanda Johnson Office: 041 373 9693 Email: dcfull@drssa.co.za

DRS GEORGE Francois Van Zyl Cell: 079 522 1930 Office: 044 874 2820 Email: francoisv@drssa.co.za

KWA ZULU NATAL:

DRS EDEN (Hartenbos) Bruno Mertsch Tel: 042 291 1083/4 Email: brunom@drssa.co.za GAUTENG: DRS CENTURION EXPRESS Amanda Johnon Office: 041 373 9693 Email: dcfull@drssa.co.za DRS LYNNWOOD Junique Julius Office: 012 807 4339 Email: lynnwood1@drssa.co.za DRS PRETORIA EXPRESS Ben Vermeulen Cell: 082 442 8654 Office: 012 331 2145 Email: bverm@lantic.net

DRS GREYVILLE Vyas Juggernath Cell: 083 206 0300 Office: 031 309 8716 Email: vyas@drssa.co.za DRS KOKSTAD Melanie Louwrens Cell: 083 269 0424 Office: 039 727 1430 Email: melanie@drssa.co.za DRS MORNINGSIDE DURBAN Erica Mtshali (Amanda Johnson) Cell: 076 578 8660 Office: 031 301 5990 email ericah@drssa.co.za DRS PHOENIX Vyas Juggernath Cell: 083 206 0300 Office: 031 309 8716 Email: vyas@drssa.co.za

DRS PIETERMARITZBURG Sanele Zulu Cell: 083 543 3487 Office: 033 394 8319 Email: sanele@drssa.co.za WESTERN CAPE: DRS BELLVILLE Patricia Bekker Office: 021 948 8523 / 4 Email: patricia@drssa.co.za DRS DIAMOND Clive Palmer Office: 021 421 8563 Email: clive@drssa.co.za DRS TYGERBERG Craig Lakey Cell: 082 627 0957 Office: 021 945 4062 Email: craiglakey@drssa.co.za DRS WEST COAST Marius Coetzee Cell: 082 978 4407 Office: 022 713 3766 Email mariusc@drssa.co.za DRS SALDANHA Marius Coetzee Office: 022 713 3766 Email: mariusc@drssa.co.za DRS SOLUTIONS Christelle de Villiers Cell: 084 586 5600 Email: cdv@vodamail.co.za

SERVICE DIRE NDA Debt Counsellors Your Trusted Debt Counsellors Gary Williams (NCRDC 143) Tel: 034 315 3880 Fax: 086 612 4112 gary@ndad.co.za www.ndad.co.za

Penny Wise Debt Counselling Cathy Foster Debt Counsellor - NCRDC1977 Tel: (011) 794 9912 Fax: 086 719 3378 Mobile: 083 298 4467 Email: cathy@pennywise.co.za www.pennywise.co.za Rihanyo Debt Counselling (012) 804 50 57 SFA Debt Relief Consultants Adri de Bruyn NCRDC998 11 Market Street / Markstraat 11, Paarl, 7646 Tel: 021 872 1968 Fax: 021 872 2678 adri@sfadebtrelief.co.za Think Green Debt Counselling Sandi Pauw sandipauw@mweb.co.za Tel : 012 991 6638 Cell : 082 460 7800 Fax : 086 219 2615

U-Win Debt Counsellors Coreli Roos - NCR DC 509 Aliwal North, Burgersdorp, Bethulie, GariepDam, Smithfield, Springfontein Cell:079 626 66241 croos@global.co.za

TRAINING

Zuné Coetzer Debt Counsellors NCRDC 1599 24 van der Stel Street, Dan Pienaar Bloemfontein Tel: 051-4364515 Fax: 086 5870 845 Email: zunecoetzer1@gmail.com

Compuscan Academy Setting you on course Sales team: Megan, Marco, Priscilla, Wouter, Monique info@compuscanacademy.co.za Tel: 021 888 6000 www.compuscanacademy.co.za

SUPPORT SERVICES Staff Line Ndizani Executive Recruitment Cell no: 083 3028163 Direct Line: (011) 468 - 2150 E- Mail: saki@staffline.co.za

You & Your Money Western Cape: NCR Debt Counsellor Training: For a Cutting Edge Course with practical input contact: You & Your Money Dawn Jackson Dawnjackson.training@telkomsa. net Cell: 072 1769789 (021) 761 3287 FINANCIAL

Information resources & services www.thedci.co.za

ABSA Customer Debt Repair Line 0861 005 901

Designtimes South Africa’s creative resource www.designtimes.co.za

Credit Ombudsman 0861 662837 Experian 011 799-3400 debtcounsel@experian.co.za Fair Debt 0829019788 or 012-3772558 ray@fairdebt.co.za

ECTORY PACFIN Financial Solutions Head Office Tel: +27 11 9757445 Fax: 0865368783 36 Van Riebeeck road Kempton Park 1619 pieter@pacfin.co.za Monte Carlo Building No 8 Voortrekkerstreet Kempton Park 1619 Kempton Park Contact: Reyno Coetzee Tel: +27 11 3945363 Fax: 0866048002 Cell: +27 73 3690884 kemptonpark@pacfin.co.za Boksburg / Germiston Contact: Armand Posthumus Tel: +27 11 8921911 Fax: 0865620378 Nelspruit Contact: Ann Baker Tel: +27 13 7415559 Fax: 0880 1374 15559 Cell: +27 82 9024236 jeleroux@telkomsa.net Springs Contact: Wynand Mclachlan Tel: +27 11 8113728 Fax: +27 11 8113728 Cell: +27 83 2754014/5 wynmc@telkomsa.net Gooseberry Business Advisory Tel: 012 644 0589 Nedbank Debt Rehabilitation & Recoveries Services 0860 109 279

STD Bank Debt review Helpline Telephone: 0861 111 402 TransUnion 0861 482 482 Thinkmoney Financial comparison website Contact: Gareth Mountain Tel: 079 0996 798 www.thinkmoney.co.za WIZARD Vereeniging Making Mortgage Magic Wanine Smit Tel:+27 16 454 1132 Fax:+27 86 686 3678 Cell:+27 82 445 3967 www.wizard.za.com FINANCIAL PLANNING Eric Streso Financial Planner B Juris LL B CFP MBA Tel: 0833273358 Fax: 086 612 7912 LEGAL LUCID Attorneys Tel: 011 880 1100 Fax: 011 880 1101 Email: info@lucidsa.com www.lucidliving.co.za/attorney

O’Connell & Associates Attorneys at Law Keegan O’Connell k.oconnell@oalaw.co.za Tel 021 462 1663 Fax 0866 504 550 303 Millborough, 70A Upper Mill Street, Vreedehoek, Cape Town, 8000 Prinsloo & Associates Attorneys and conveyancers Nanika Prinsloo Farm Bergamot, Paarl 7620 P O Box 6199, Paarl 7620 14 Laing Street, Barrydale 6750 Cell: 072-8558-106 Fax: 086-623-5986 nanika@vodamail.co.za www.empowerlaw.co.za RM Brown and Associates 16th floor The Pinnacle Corner Strand and Burg Streets Cape Town Tel: 021 202 1111 Email: oliver@rmbrown.co.za Scheepers Attorneys Gerhard Scheepers schlaw@iburst.co.za

DIRECTORY CREDIT BUREAUS Compuscan 0861 514 131 www.compuscan.co.za Computer Profile Bureau 0861 28 7328 www.c-p-b.co.za Steyn Coetzee Attorneys / Prokureurs Adri de Bruyn 11 Market Street / Markstraat 11, Paarl, 7646 Tel: 021 872 1968 Fax: 021 872 2678 adri@steyncoetzee.Co.Za Agiliti CC Colleen Van Wyk(BCom, LLB) Tel: 083 290 0848 Tel: 011 740 7374 Fax: 086 716 9694 Website: http://agiliti.co.za

Experian www.experian.co.za Business- 0861 63 60 70 Consumer- 0861 10 5665 Micro Lenders Credit Bureau 0861 28 7328 www.mlcb.co.za TransUnion 0861 886 466 www.transunion.co.za

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THE Debt Counsellors CODE

DAVINCI May 2013 www.debtfreedigi.co.za

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June 2013 www.debtfreedigi.co.za

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