Debtfree Magazine December 2017 by Debtfree Magazine

South Africaâ&#x20AC;&#x2122;s debt counselling magazine

HAVE YOU

LEARNED

ANYTHING? December 2017 www.debtfreedigi.co.za

Picture the scene; you are enjoying a pleasant evening with your friend when they start to tell you about how business is tough and their debts are mounting. They feel stressed because their clients don’t have money to spend and are buying less. You stand there knowing that debt review could be the solution they are looking for but you feel weird to talk about finances.

I share my dirty little debt review secret with others? Think back to when you first started the debt review process? How stressed were you? How bad was it? Think how far you have come in just a short time. The process works and can help consumers become better equipped to handle their finances. Or does it?

We discuss the aspect of consumer education while under debt review in this issue. We ask if your Debt Counsellor has been training you, After all, as a nation we don’t like to equipping you for future financial reveal that we are having troubles success. Have you actually learned ourselves. We love to project an anything while under debt review? appearance of well being. That’s half the reason we all get into We also talk about 2017 as we financial trouble: Spending money look back at some stand out events to look good and have the latest locally and internationally. We gadgets we don’t really need in can’t cover them all but we have chosen some events which have order to impress other people. shaped the country and industry this So, you ask yourself: has debt year - Including the NCR’s annual review made my life better? Have I conference, which we review. benefitted from the process? Should

The truth is that debt review has helped more people this year than ever before. The number of new applications remains high and more and more consumers are able to get their clearance certificates saying they no longer have debt or are over indebted. Debt review is helping hundreds of thousands of consumers to get out of debt or at least get a handle on their debt. With over 1 200 000 views during 2017 of our various issues of this magazine, we are happy that we are helping spread the news about debt review and how it can help people. If you are under debt review then why not recommend it to others? You probably donâ&#x20AC;&#x2122;t realize it but your friends are taking strain. They need help and you may hold the key to them taking back control. Donâ&#x20AC;&#x2122;t get swept up in the December holidays gift madness and ignore the big picture. Why not share the love this year and help others get debt free?

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HAVE YOU LEARNED ANYTHING?

REVIEW OF 2017

DEBT COUNSELLOR PROFILE

SERVICE DIRECTORY

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C O N T E N T S

HAVE YOU LEARNED ANYTHING? For most consumers, the debt review process is a temporary solution to a temporary financially stressed situation. Many people enter the process and after as little as 3 years are able to leave the process as their situation changes for the better (or they fall into old habits and miss a payment, ending the protection of the debt review process). The question is: do they leave the process better equipped to handle their finances in the future?

â&#x20AC;&#x153;

Do zey leave ze process better equipped to handle zeir finances in ze future?

â&#x20AC;?

HAVE YOU LEARNED ANYTHING?

Getting help from a NCR registered, professional Debt Counsellor is vital in solving complicated debt problems. Most consumers who enter debt review will tell you that getting the protection of the National Credit Act is a great relief, after months of having been harassed by credit providers and collections agents. The name â&#x20AC;&#x153;Debt Counsellorâ&#x20AC;? however implies that you will be counseled on your debt habits. Much like any sort of addiction, (over)spending on credit can be a very hard habit to break. The switch to a cash lifestyle is beneficial but can be very tough. Debt review is not easy and your Debt Counsellor can either help you through the transition or leave you to muddle through on your own. How they treat you can make or break your chances of success.

consumer their court order.

HAVE YOU LEARNED ANYTHING?

FOCUS ON THE COURT ORDER Most Debt Counsellors tend to focus on helping consumers get a debt restructuring court order. This has become the case, due to the unnecessary push back by credit providers desperate for every last drop of cash they can get every month from consumers to appease their accountants. This greedy focus on bean counting has drastically hurt the process. Other forms of collection have much greater scope for allowances and leeway than the debt review departments of most major credit providers have been given. This has lead to some ridiculous situations where credit providers even complain when they are paid too much each month. Early abuse by credit providers of NCA Section 86(10) where they tried to remove consumers from debt review also pushed the need to focus on initial dealings with consumers rather than ongoing support and training. These habits forced on Debt Counsellors years ago still have affects today which lead to almost all the Debt Counsellors energy going into getting a

HAVE YOU LEARNED ANYTHING?

REDUCED AFTER CARE FEES LEAD TO REDUCED AFTER CARE The small amount of money allocated each month toward after care fees and the 24 month drop in after care fees allocated to Debt Counsellors has reduced after care service to consumers. This shouldnâ&#x20AC;&#x2122;t come as a surprise. People tend to focus on profitable aspects of any job. The NCR have recently been thinking of further reducing after care income to Debt Counsellors which will naturally lead to even less after care for consumers. This does not bode well for the process.

HAVE YOU LEARNED ANYTHING?

LACK OF CONSUMER EDUCATION Ironically, one of the things the NCR would like to see is, consumers being educated about debt and how credit works. Interestingly however, the concept of consumer education or even counselling does not exist in the section of the NCA about debt review. Debt Counsellors have no legal obligation to educate their clients. Rather the Act only discusses the role of the National Credit Regulator in educating consumers. This falls squarely on their shoulders. The NCR recently announced that over the last 10 years they have managed to engage and do some form of education with 400 000 consumers out of the 9 million plus consumers who are many months behind on repaying their credit and out of the over 20 million credit users. Perhaps the name Debt Counsellor is a slightly misleading one and implies something that the professional is not obliged to do.

HAVE YOU LEARNED ANYTHING?

LACK OF EDUCATION LEADS TO BAD BEHAVIOR Debt Counsellors soon find that, due to focusing on other matters, not educating their clients and not communicating with them regularly leads to consumers falling out the process and failing to benefit from debt review.

This means that the Debt Counsellor does a lot of work and sees little financial return. For example, lack of communication can lead to a lack of trust in the process. Then even one misleading collections call from a commission hungry collections agent, from a recognized creditor, can lead to consumers not paying their debt review payment. They then have to be removed from the process. These consumers are then left feeling cheated by a poorly executed debt review process which they themselves have broken. They are not likely to recommend it to others and may begin to complain about their former Debt Counsellor. This is why the best debt counselling firms take time to help their clients grow and learn during the process.

HAVE YOU LEARNED ANYTHING?

ARE YOU GETTING SMARTER? So, ask yourself if you have used the time that you have been under debt review to (1) ignore your debt and let someone else take over your financial future or (2) have you been getting smarter and learning about financial matters? Reportedly, SA has one of the lowest financial education standards in the entire world. Financial literacy in SA is basically pathetic and as products of this, sadly inferior, financial education most of us suffer as a result. Why make bad decisions, we sign anything that gets put in front of us and we donâ&#x20AC;&#x2122;t ask enough questions or demand a high level of service.

If you ended up in debt review because you never knew that interest was an amount extra you would have to pay over what you borrowed from the bank then you are not alone. Millions of South Africans donâ&#x20AC;&#x2122;t understand interest. The question is: do you want to leave debt review after a number of years and stumble back into the same old bad habits and traps that tripped you up before? If so, you will soon need debt review once again.

HAVE YOU LEARNED ANYTHING?

LEARN TO BUDGET! Most consumers are handed a vague, somewhat generic budget at the start of their debt review by their Debt Counsellor, or worse, by one of their assistants. The figures may not make much sense or even be that realistic (unless they really know their stuff). These figures may not be discussed with you at all. If this is the last time you did or saw a budget then you need to learn to figure out how to do a budget. Can you ask your Debt Counsellor to train you?

HAVE YOU LEARNED ANYTHING?

LEARN TO HOLD A FAMILY FINANCIAL DISCUSSION! When beginning debt review many couples are horrified at the debt their partners have accumulated without them realizing it. It can place a huge strain on a relationship and is one of the causes that many people never get help in the first place. Have you learned to open up and be honest about spending, debt and discussing your financial goals and desires?

A lack of communication about financial matters will quickly send you back into serious problems the moment you leave debt review. Are you holding a fun family discussion about your finances once a month - chatting about the budget that you should be doing? If not, then now is the time to try it out. Keep it simple. Serve some nice snacks (maybe a fun meal like hotdogs or burgers) and keep things happy and light. Maybe do it on the day after you get your PDA statement each month. Doing this regularly gives everyone the chance to contribute, communicate and work together as a team against your debt (not blame each other). It creates a safe space to discuss debt and your financial goals.

STUCK

U S I N G

ANCIENT

T E C H N O L O GY ?

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HAVE YOU LEARNED ANYTHING?

LEARN TO SAVE! You may think that being under debt review means you will not be saving anything. This is completely wrong. Your Debt Counsellor will have added savings towards annual expenses into your monthly budget. They know you have to save towards these expenses. It is important that you learn to stick to these savings amounts or your debt review will fail within the first year. The savings amounts may be small but you need to make sure they are regularly set aside. These savings may cover things like: servicing your car, new tyres for the car, paying your annual TV license, school clothes and books in January. Learn to save and not just spend every last penny because it is available.

HAVE YOU LEARNED ANYTHING?

LEARN TO GET EVERYTHING IN WRITING! If you ever had one of those collections calls where they told you that everything would be fine as long as you just paid xâ&#x20AC;Ś only to have another person call you the next week with a different story, you will have learnt the need to put things down in writing. You may have wished you did it in the past but have you learnt to do so now? Do you have all the info about your Debt Counsellor, the debt review arrangement and your monthly obligations in writing?

If not, it is time you sorted that out. From now on you should get everything in writing. Get into the habit of sending people emails and keeping records and backups confirming telephone conversations. It is amazing how a credit provider can lose a recording of a conversation they really donâ&#x20AC;&#x2122;t want to find.

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HAVE YOU LEARNED ANYTHING?

LEARN TO GET ORGANIZED! It is tempting to just let your Debt Counsellor keep records of everything and to expect them to always be available to you. But what if they are not? What if the Debt Counsellor dies or goes out of business? What if their office burns down or their computers get fried? It is a good habit to become a good record keeper. Not only should you keep copies of everything you should learn to categorize and store this information in a way that makes it easier to find years later. Donâ&#x20AC;&#x2122;t delay in doing this. Start today.

HAVE YOU LEARNED ANYTHING?

LEARN TO READ EVERYTHING! When you owed money and the bank threatened to take away your assets you may have been horrified that you signed in your original contract that you would pay for them to sue you. There were probably a dozen other clauses that you never even noticed as you just signed the papers set before you. In debt review it is important to get away from this bad habit. If your Debt Counsellor or your attorney asked you to sign an affidavit for court, make sure you have read it thoroughly and understand it. Get into the habit of asking for clarification. There is no benefit to signing anything people shove in front of your nose.

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HAVE YOU LEARNED ANYTHING?

DEBT REVIEW IS A TIME FOR PERSONAL GROWTH If you go through the entire debt review process and come out with the same level of financial awareness and habits you had before hand then you will soon be back calling on your past Debt Counsellor for help again.

Make sure you apply your mind to growing as a consumer during the debt review process. Take advantage of the time to learn good financial habits that will help you for years to come no matter what your financial situation. If you have a good Debt Counsellor they will help you even though they do not have to and it makes no financial sense to do so. Be sure to ask a potential debt counselling firm if they offer any sort of after care and what that will be. If your Debt Counsellor has not been helping you recently then why not make contact and ask for some counselling? Maybe they can review your budget with you (the one you have worked on yourself and think is how best to spend your available funds). Read a book, read Debtfree Magazine, watch the news, follow a blog or twitter accounts about finances. Benefit from the advice of others and learn to separate the good advice from the silly. Educating yourself is key. Learn now, so that you never have to repeat the mistakes of the past.

ROUNDUP

THE YEAR HAS COME AND GONE. 2017 was a complicated and exciting year for debt review. Thousands of Debt Counsellors found their registration had lapsed and their clients were moved to other firms. The NCR found out they may have to do debt review themselves next year and the NCT launched their online system.

The year was a financially tough one for both governments and companies local and international. Even the weather seemed to be ganging up on South Africa and the Caribbean. Financially, it was not a great year locally. Inflation and ever increasing prices, along with consumers having less money to spend, hit retailers and businesses hard. Even SARS wasnâ&#x20AC;&#x2122;t able to collect what was needed. Political and business scandals both amused and horrified the country. We take a look back at 2017 and look at some of the good, the bad and the ugly world events that impacted on the economy and debt review.

JAN Lack of clarity over DCRS future funding and management dominate industry discussions Debt Counselling Community Support charity (DCCS) gives out back to school hampers to families across SA Donald Trump inaugurated as 45th President of the USA â&#x20AC;&#x201C; let the handshakes and lack of wall building begin. (ps. Youâ&#x20AC;&#x2122;re Fired!)

FEB NCR announce they are looking for an actuary to review new proposed Debt Counselling Fees NCR cancel Workshop very last minute leaving travelling Credit Providers and DCs stranded and angry British MPs officially vote to leave the EU (Brexit) Joost Vd Westhuizen Dies of motor neurone disease aged 45

SA’s Favorite Public Voting Results announced: Boutique Debt Counsellors: Debt Mend (Gauteng); Debt Finesse (KZN), Consumer Debt Support (WC) SA’s Favourite Large Debt Counselling Firm: Consumer Debt Help SA’s Favourite National Debt Counselling Firm: Debt Busters SA’s Favourite VAF provider: MFC SA’s Favourite PDA: Hyphen PDA SA’s Favourite Bank: Standard Bank Pravin Gordhan gives his last budget speech (he didn’t know it at the time)

MAR FNB host Debt Counsellors at Conference NCR finally hold delayed Debt Counsellor workshop (announce DC fees being reviewed) NCR and ABSA agree to R10 Million Fine over R699 car scheme (valued at R2.8 Billion) NCR raid unregistered Credit Providers NCT revoke Eagle Loans Registration

US President Trump once again tries to ban travelers from Muslim countries. Federal Courts block the ban Infamous Midnight SA Cabinet Shake up (known as â&#x20AC;&#x153;the night of long knivesâ&#x20AC;?) Ratings downgrades follow

APR 1st Online DCASA webinar hosted NCR call for comment on Call Centre Debt Counselling operations NCT launch online automated filing system for debt review cases S&P downgrade SA credit Rating Book The Republic of Gupta: A Story of State Capture released

MAY NCR win case vs Edcon at NCT over club fees NCR refer Mr Price to NCT over club fees NCR go After Pawn Your Car & Drive it Schemes DC Partner Event in Cape. They announce iDocs integration and massive donation to DCCS Drought declared in Western Cape (worst in 113 years) WannaCry global Cyber Ransomware attack James Bond Actor, Sir Roger Moore dies, aged 89

JUN Debt Review Awards in JHB. Capitec, Consumer Friend, Hyphen PDA and IDM win industry peer review. Alison Magrath appointed new Credit Bureau Association Executive Manager Lewis dodge NCR club fee case at NCT Debt Therapy bring appeal case over Nedbank v Jones interpretation in W Cape Courts (which would eventually be won)

USA announces it is withdrawing from Paris Climate Agreement (bye bye planet) Bahrain, Saudi Arabia, UAE, Yemen, Maldives and Egypt sever ties with Qatar over support of terrorists 65.6 Million people displaced around the world in ongoing refugee crisis Supreme Court in Venuzuela attacked by rogue police helicopter pilot Facebook announces 2 Billion monthly users North Korea fires provocative Intercontinental Ballistic Missile into Sea of Japan

JUL Debt Counsellor, Deborah 6000sq km iceberg breaks off Solomon wins 3 yr case vs NCR at Larsen C Ice Shelf in Antarctica Tribunal (global warming anyone?) National Consumer Commission holds public hearings about time share abuses

Worldâ&#x20AC;&#x2122;s most popular song Despacito streamed 4.6 Billion times (and counting)

Annual renewals of registration for NCA registrants (1/3rd of Debt Counsellors registration lapsed)

Bill Gates drops to second richest man in the world for 12 hours before retaking the title.

NCR take Foschini to NCT over club fees

AUG DCASA hold their annual Conference in JHB New Cheaper Maximum Credit Life rates come into affect Category 4 Hurricane Harvey Hits Texas; Category 5 Hurricane Irma becomes the worldâ&#x20AC;&#x2122;s most powerful Atlantic hurricane

NCR begin to issue annual certificates by email and post to desperate Debt Counsellors USA impose sanctions on Russia over 2016 election interference SA President Zuma wins noconfidence vote by a narrow margin of only 21 votes Grace Mugabe uses diplomatic immunity to escape assault charges in SA Solar Eclipse 22 186 cases of Swine Flu reported in India

SA Athletics team win big at London IAAF World Championships (among others Manyonga, Van Niekerk and Semenya take medals) Mayweather vs McGregor Boxing Match Violence in Myanmar - 370 000 forced to flee

SEP NCR publish proposed Fee Structure for Debt Counselling proposing a reduction in income Samson Vs Mars court case ruling undoes damage caused by negative Nedbank v Jones ruling interpretations Capitec host their first conference for Debt Counsellors in Stellenbosch All Blacks Beat Boks 57 â&#x20AC;&#x201C; 0 in Auckland

Shoprite hit with R1 Million fine by NCT Hurricane Irma makes landfall causing chaos for over 7 million families and many deaths Playboy founder Hugh Hefner Dies Aged 91, survived by his 31 year old wife

Puerto Rico hit by hurricane. All electrical power wiped out country wide Saudi Arabia become last country in the world to remove ban on women drivers Bell Pottinger Scadal BreaksRacist campaigns run to help distract from Gupta State Capture allegations

OCT NCR go after VW Financial Services and BMW Financial Services for â&#x20AC;&#x2DC;on the roadâ&#x20AC;&#x2122; fees (mostly ignored) Consumer Friend change their contact details KPMG caught in anti Gupta frenzy

R3 Billion in tax funds used in bailout of SAA Shooting in Las Vegas kills 58 people and injures 489 New York Times publishes sexual harassment article on Hollywood producer Harvey Weinstein. Huge influx of revelations from other actors and actresses follow that rocks Hollywood glitterati. Similar accusations sweep through US political circles Plague outbreak in Madagascar Marburg virus outbreak in Uganda Another SA Cabinet reshuffle Lackluster Mini Budget offers little substance

NOV Parliamentary Portfolio Committee announce proposed Bill to amend NCA to include NCR run debt review for poor DCASA AGM – Mr Tony Richards announces he will not be on NEC after 11 years, Mr Paul Slot announces he won’t serve as DCASA President in 2018. Consumer Friend’s DReX system goes live for Debt Counsellors S & P finally rate SA as “junk” (Local Currency rating)

11 Saudi Princes arrested along with others on corruption charges World largest retailer Alibaba does $25.3 billion in sales on one day Zimbabwean Vice President fired. Grace gets the job briefly. Military moves into capital. President Mugabe at first refuses to step down, in TV appearance, but soon his resignation is announced during impeachment proceedings. Emmerson Mnangagwa becomes new President Prince Harry engaged to actress Meghan Markle (Rachel from Suits)

DEC NCR Conference held in Cape Town â&#x20AC;&#x201C;Debt Counsellors, PDAs and Credit Providers attend US Supreme Court Rule in favour of Trump travel ban on 6 Muslim countries Bitcoin value spikes suddenly Iraq announce victory against ISIS

Star Wars: The Last Jedi launches (just days before Suadi Arabia lifts 35yr ban on Cinemas) President Zuma faced with R6 Mil in legal fees after losing court battles against state capture inquiry Steinhoff accounting fraud scandal hits press ANC elect Cyril Ramaphosa as party President

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NCR

CONFERENCE

2017

The National Credit Regulator (NCR) held their annual conference in Cape Town this year. The conference was themed as a â&#x20AC;&#x2DC;Reflection and Celebrationâ&#x20AC;&#x2DC; of debt review. The NCR and National Credit Act turned 10 years old half way through the year and there was plenty of history to look back over during the speeches. Speakers at the conference ranged from Magistrates to Debt Counsellors, Credit Providers, the NCT and NCR themselves. Credit Providers and even some Debt Counsellors flew from other parts of the country to attend.

Both the NCRâ&#x20AC;&#x2122;s acting Head of Debt Review, Mr Ngoako Mabeba and Senior Legal Advisor, Ms Nthupang Magolego addressed the audience as the day began. Statistics show that debt review is working but could be doing even more to help the economy and those in financial trouble. Time was given to reviewing some of the major legal victories (and loses) that the NCR has been involved with including enforcement action against Debt Counsellors and Credit Providers. Surprisingly the speeches even touched on Debt Intervention as envisioned in the recent proposed NCA amendment bill. Ms Magolego (NCR Senior Legal Advisor) described it simply as debt review done by the NCR. It was highlighted that in the nearly 4000 education programmes the NCR has held over the last 10 years they have helped educate 403 108 consumers (out of the +-21 Million credit users) with information about the NCA and in many cases debt review. Rob Easton-Berry (Credit Provider) spoke very openly about the 2009 NCR Task Team, which gave rise

...Surprisingly the speeches even touched on Debt Intervention as envisioned in the recent proposed NCA amendment bill...

to many of the common practices within debt review today. He discussed the need at the time and the way solutions were reached in a short time through many hours of hard negotiation and sometimes confrontation. He ended his speech by predicting hard times ahead economically for the country. He said that Debt Counsellors need to be ready and have systems in place to handle more clients than ever. The NCT briefly touched on their functions within the framework of the NCA. They mentioned their new automated system and how that is designed to help them cope with the dramatic increase in cases for debt review they have been flooded with over the last few years. The audience were very positive about the travelling motion courts the NCT have been operating country wide. Debt Counsellor Alan Manshon looked back at how debt review has changed and highlighted some of the current challenges. Unlike many of the previous speakers he asked his audience to get involved and comment. There were many laughs, some pained groans and even

forehead slapping as Alan took the audience through a decade of almost constant change within the industry. The (PDASA) Payment Distribution Association of South Africa were represented by DC Partnerâ&#x20AC;&#x2122;s Herman de Jager. He begged the NCR to look into the issue of PDA fees and payment turnaround times. He warned that the industry will struggle greatly in the future if PDAs are forced out of business by non sustainable costing models. His sentiments received an enthusiastic and supportive round of applause from the concerned audience. Local Western Cape Magistrate Nyati called on the NCR to help educate more consumers. She then took some time to discuss applications for debt review locally in the Western Cape. She thanked the NCR for the invite and said that she and her colleagues who had attended had found it interesting to sit among Debt Counsellors and see the way they think and the issues raised. They hope to engage more with the industry in the future for further insights.

...the industry will struggle greatly in the future if PDAs are forced out of business by non sustainable costing models...

Mr Peter Michaels of the NCR closed out the day as he spoke about things like registration and lapsing of registrations prior to a question and answer session. It was revealed that another 300 Debt Counsellors registration was to lapse shortly. This means that the number of previously registered Debt Counsellors will now be halved in the country since the increased annual renewal fees began. Many questions were asked and this provided the chance for industry role players to comment and take note of concerns of those in the audience. The event was well supported (though some had to leave during the conference to go to mosque since it was held on a Friday) and the audience was generally positive about the day. Both Debt Counsellors and Credit Providers benefitted from getting to meet face to face and engage with one another about current challenges (such as end balance differences). The NCR can chalk this one up as a great success.

Die Republiek van

SKYT AFRICA Hi daar mense, Ek het in verlede maand se berig n oorsig gedoen van die afgelope jaar en weereens tot die besef gekom dat die nie help om te tob en talm oor die verlede nie, wat verby is is verby en daar is niks wat ek of jy kan doen om die horlosie terug te draai nie. Daar is dinge wat nou weg is soos die motorvervaardiger Chevrolet, die ouer garde sal onthou in die 60’s en 70’s het ons almal iemand geken wat n Chevy gery het asook die advertensieklingel “braaivleis, rugby, sonneskyn en Chevrolet”, hartseer maar dit is die lewe – nostalgie. Die regerende party het sopas n nuwe leier gekies en die finansiële markte het positief daarop reageer, die huidige President van die land bly egter nog in sy amp tot die volgende verkiesing, genoeg oor poletiek! Teen hierdie tyd het al die skoolgaande kinders hulle rapporte gekry, sommige het geslaag met onderskeidings, sommige met bogemiddelde

punte en dan is daar die wat nie die paal gehaal het nie. Ek wil hierdie maand met jou gesels oor rapporte. N rapport is n samevatting en oorsig van prestasie of onderprestasie deur die jaar. Elkeen van ons behoort vir onsself n rapport op te stel, n eerlike rapport oor die afgelope jaar. Waar het ek presteer en hoekom en waar het ek onderpresteer en hoekom? Was ek ten alle tye n regverdige mens in my doen en late of het ek soms toegelaat dat my emosies die oorhand kry/ Hierdie tydskrif is uitsluitlik vir die doel van finansiĂŤle welstand en dit is onbetwisbaar dat geldelike druk ons irrasioneel laat optree, ons blameer wyd en syd sonder om self ondersoek te doen en dit is waarom n rapport ons kan help om te verstaan, is daar areas wat kan verbeter en nog belangriker het ek geslaag of het ek gefaal? Om, soos die oumense gesĂŞ het, te dop is nie die einde van die wĂŞreld nie solank ek daaruit leer en die nodige aksieplanne in plek sit wat n verbetering sal verseker. Selfkastyding en bejammering gaan nie die

oplossing wees nie so ook nie om blaam te verskuif nie, dit is jou rapport en jou punte en dit is in jou hande om positiewe veranderinge te beplan, in te stel en deur te voer. Indien jou rapport hierdie jaar toon daar is ruimte vir verbetering streef daarna om die nodige aanpassings te doen, jy is dit aan jouself en jou familie verskuldig. Mag elkeen van julle met lof slaag op volgende jaar se rapport, indien jy onder skuldberadering is en vasgebyt het, gee jouself n klop op die skouer, jy slaag met lof omdat jy die regte besluit gemaak het en die probleem positief en daadwerklik benader het.

Lekker vakansie almal! Groetnis. Christo Hattingh Kyk gerus my LinkedIn profile: https://www.linkedin.com/in/christo-hattingh-351a52130/ * Seriously please do let us know if you found this article to be funny/offensive/amusing/interesting feedback@debtfreedigi.co.za

South Africaâ&#x20AC;&#x2122;s leading Debt Counsellors Click through to

www.creditmatters.co.za or call our national call centre on

086 111 6197

NCPDA2 REG. 2 00 8/01 874 1/0 7

TRANSPARENCY INTEGRITY COMPLIANCE

PAYMENT DISTRIBUTION AGENCY

COMPANY BACKGROUND On 28 August 2008, DC Partner began distributing funds newly appointed by the National Credit Regulator as a accredited Payment Distribution Agent. DC Partner’s business has continued to steadily grow ever since 2008 and is a financially strong company that strives for excellent service to our customers. DC Partner is one of only three NCR accredited PDA’s in South Africa and its operations are based out of the scenic town of George in the beautiful Southern Cape, with satellite offices in Pretoria and Cape Town. At present, the company employs roughly 100 people. DC Partner has a high level of commitment and quality control.

SECURE DI STRIBUTI ON OF DEBT REVIEW FUNDS DC Partner takes pride in providing accurate and timely distributions. After all, the ability to accurately and speedily distribute funds from consumers to credit providers forms the cornerstone of the debt review cycle. Distributions are strictly done according to the distribution plan provided by the relevant debt counselor.

WHY CHOOSE DC PARTNER AS PDA? A client relationship officer is assigned for EACH Debt Counsellor – Single point of contact & communication! We assist to follow up on default clients, unpaid funds and unidentified deposits. National representation – Frequent face to face visits to your office by skilled, trained agents. Automated e-mails which can be sent directly from our system – 17.1, 17.2, proposals, cascades etc. Systematized client statements for each distribution sent as e-mail or sms. Daily Distributions on all clients. 24 Hour access to our system (Including distribution data) from any PC, Cell Phone or tablet with internet access. Individual, dedicated business bank account for each debt counsellor. Multiple management review reports accessible directly to manage your debt review business and processes.

HEAD OFFICE: 59 VICTORIA STREET, GEORGE TEL: 044 873 4530 EMAIL: PDA@DCPARTNER.CO.ZA WWW.DCPARTNER.CO.ZA

MANAGING DIRECTOR T | 086 111 3749 CHRIS@ZERODEBT.CO.ZA WWW.ZERODEBT.CO.ZA

CHRIS CR AVEN

Why did you get involved in the industry? As a team, we identified the needs of people who were over-indebted â&#x20AC;&#x201C; essentially the need to protect their assets and have their instalments and interest rates reduced to an amount that was within their means. The debt review process meets this need for our clients and inevitably helps I had various business interests in to solve their financial dilemma. The the financial sector and became debt review process was back then, interested in debt counselling in and still is, the most effective way 2009. We formed Zero Debt and began offering debt review services to reduce instalments and interest rates while retaining assets. back in 2009.

What did you do before becoming a DC?

PROFILE | CHRIS CR AVEN | ZERODEBT

What area (of SA) do you practice in? Zero Debt offers debt review services throughout South Africa.

What makes your business a success?

Our service solves a problem. We focus on reducing interest rates by getting acceptances from creditors â&#x20AC;&#x201C; an agreement our clients would not be able to attain, without our involvement. We also pride We market nationally in the media ourselves in retaining the best staff and online and generate a lot of in the industry, who administer the business through referrals. entire process.

Where do you find new business?

END

Do you think the proposed NCA amendments bill address all the current needs of the industry? The proposed NCA amendments bill is aimed to assist extreme low income consumers. Currently the Debt Counsellors cannot assist these members as proposals for repayment will not solve in terms agreed by Credit Providers.

What is the biggest challenge facing your consumers at the moment? Inflation, along with the rising cost of living. This makes it difficult for consumers as they have to constantly adjust their budget throughout the process.

What advice do you have for consumers under debt review? My advice is to trust in the process, and stay with us until your debt is fully paid and you receive a clearance certificate.

DEBT COUNSELLORS ASSOCIATIONS ANNOUNCEMENT BOARD

We wish our members a good holiday break and look forward toa productive 2018. We will be holding a series of regional meetings early in the year and you can check the January issue of Debtfree or our website for all the details.

www.dcasa.co.za

Curious about Crypto Currencies? Contact us for info on how they work: admin@neweracomms.co.za

www.newera.org.za

We thank all our members for their support this year. We wish everyone happy holidays.

We wish our members a good end of the year holiday break and remind everyone to make use of the Facebook page if you want to share any suggestions or ask questions.

www.bdcf.co.za

www.allprodc.org

DONâ&#x20AC;&#x2122;T WORK WITH AN OUT DATED VERSION OF THE ACT

UPDATED 2017

We are happy to announce that the Amended National Credit Act booklet is now available via our shop. Get the latest version for only R250.00

ORDER NOW http://debtfreedigi.co.za/product/pocket-sized-national-credit-act-booklet/

DEBT COUNSELLING COMMUNITY SUPPORT

BACK TO SCHOOL DCCS want to thank Nedbank for leading the charge with end of year hampers for our vulnerable Debt Review consumers. These consumers have been identified by their Debt Counsellors as needing a little extra help at the end of the year. Nedbank have been collecting cans of non perishables, as well as, basic toiletries and food stuffs. DCCS are helping distribute these to debt review families who are under pressure. Contact admin@dccsupport.co.za

Nedbank have also donated thousands of Rands so that DCCS can reach even more consumers at the end of the year and families with needs. These efforts go hand in hand with the DCCS back to school project for Jan 2018 where participating debt counsellors and PDAs and credit providers are helping us give â&#x20AC;&#x2DC;back to schoolâ&#x20AC;&#x2122; packs to over 100 debt review families this year. Sponsor a R150 Back to School Hamper

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