Debtfree Magazine Feb 2017 by Debtfree Magazine

South Africa’s debt counselling magazine

DON’T STOP PAYING February 2017 www.debtfreedigi.co.za

What you can expect from Hyphen PDA: • Increased Debt Counsellor Profitability • Flawless Systems • Meaningful Reporting • Contented Consumers!

www.hyphenpda.co.za

Chris van der Straaten, Head: PDA 082 557 0437

Malcom Povey, Head: Operations PDA 082 445 5604

Don’t expect to hear an endless amount of “spin” around why things failed!.

DEBT REVIEW AWARDS WINNER

PAYMENT DISTRIBUTION

CUSTOMER SERVICE

INDUSTRY SUPPORT

SOFTWARE INTEGRATION

Debt Review Explained Let’s be honest. We all spend a little too much occasionally. Maybe we go a few bucks over the grocery budget or something unexpected happens that we didn’t plan to pay for. Life happens. But when oncein-a-while becomes almost-every-time, we end up over-indebted. How to tell if you’re over indebted? 1. The money you have coming in, simply isn’t enough to cover all the payments going out. So you start missing installments here and there. 2. You’ve probably had one or two calls from creditors demanding payment. 3. You get that empty pit in your stomach every time you have to look at your bank balance. 4. You’re either thinking about or have already tried going the consolidated loan root, but that only made your debt worse, because it didn’t address the core issue of spending too much. 5. You’re more snappy, because you’re constantly stressed. 6. Payday can never come too early, because your bank account is empty within the first week of the month. It’s safe to say that if you are experiencing the above symptoms, you are over-indebted and a candidate for Debt Counselling.

Debt Counselling! Say what? Debt counselling or debt review as it’s also known, is a medium to long-term process (depending on your level of debt) that aims to clear your bad debt. This process can only be done through a qualified Debt Counsellor. After applying to a Debt Counselling firm, such as DebtCare, you are assigned a dedicated Debt Counsellor who reviews your debt to see how to best assist. Your DC then looks at your income and expenses to determine what you can afford to pay every month. This single minimum amount covers all your debt repayments. After this has been determined, your DC contacts your creditors, informs them that you are under Debt Review and negotiates lower payments and interest. Once your creditors agree, your DC will inform you to pay the single minimum amount, which your creditors share amongst each other. Once your Debt Counselling process is completed, life goes back to normal. Well almost. Better spending habits and tighter reigns on your budget will keep you out of debt for good! Watch video at www.debtcare.co.za

EDITOR’S NOTE Well, the nation might be in a noisy and somewhat amusing state but the budget speech was enough to make you sleepy... unless you earn millions of Rand each year. It is good to see the government checking their finances. We should all do so whether under debt review or not. Keeping an eye on your finances will help you make needed adjustments well in advance. With debt the sooner you react the better and of course, actually paying off your debt is a great way to relieve stress. Debt stress is a killer and debt review has been a life saver for so many people. So, it might surprise you to learn that many who enter debt review never even pay anything before falling out of the process. If you are curious as to why that may be then be sure to read the first few articles in this issue. Over the last while we asked readers to vote for their favourite companies and the results are in. We explain how the process worked and who came out with the most vots. Thank you to all our readers for your input. If perception is reality then be sure to find out who really is SA’s Favourite bank, Debt Counsellor and PDA. Don’t worry we won’t have any Oscars mix ups here. The winners really are the winners. You can

check that out as well as enjoy a special treat for our Afrikaans readers in an article from an old, familiar voice in the industry (be sure to check it out and tell me what the heck he is saying?) If you are looking for a service provider or contact details for firms in the industry be sure to check out the service directory. Maybe you want to find a Debt Counsellor in your area or need to find legal advice, then turn to the back of the mag and have a look. Also be sure to check out the new employment opportunities advertised in the magazine near the Debt Counsellor Association notice boards and industry event summary articles. This issue we also take the time to talk to a Debt Counsellor about his business and how he helps consumers, we get good advice from one of the PDAs about paying off debts and managing debt repayments and we catch up on all the local industry news which impacts on us. It is a good read and we hope you find it informative and helpful on your journey to becoming debt free.

donâ&#x20AC;&#x2122;t be a twit

http://twitter.com/Debtfree_DIGI

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 editorsâ&#x20AC;&#x2122; panel and the author of the content, as applicable. Debtfree Magazine, authors and contributors reserve their rights with regards to copyright of their work.

CONTENTS DON’T STOP PAYING!

10 REASONS SOME STOP PAYING

SA’S FAVOURITE

NEWS

HOW TO AVOID DEFAULTING

SERVICE DIRECTORY

DONâ&#x20AC;&#x2122;T STOP PAYING!

Donâ&#x20AC;&#x2122;t Stop Paying! While it is fun to lend and spend money, the part none of us like is paying it back. Particularly is this difficult if the repayment term is long. These days, few people have the patience and will to keep up debt repayments. Various factors like unplanned expenses, emergencies or loss of income can negatively affect our ability to repay our debts. When credit providers start to send scary letters, this is often the point when consumers finally turn to debt review as a way to cope with their debt. The process enables consumers to retain their dignity and retake control of their financial future. It may (or may not) then surprise you that many consumers who enter the process soon default on the process. Some default on the very first repayment, while others default

after years of regular paying. Some Debt Counselling firms report that 1 out of every 5 clients never pay a single cent toward their debts after entering the process, making their debt situation even worse than before. Many firms report that it is common for consumer to stop paying after 3 years. What could cause a debt review consumer to stop paying and how does this affect their future?

DONâ&#x20AC;&#x2122;T STOP PAYING!

10 Reasons Some Stop Paying Though each debt review is unique, there are several common situations that lead consumers to stop paying their debt review payments. The reasons may vary but what is common is that they may lead the consumer to the decision to stop repaying their debt. Since the repayment of debt is key to the debt review process this then derails the process. What is important to realize is that most of the reasons why consumers chose to default on payments are not valid, even though the consumer may feel justified in doing so.

Poor Communication about PDAâ&#x20AC;&#x2122;s

When the National Credit Act was amended a new group of service providers were legally added to the debt review process, should consumers wish to make use of them. These service providers have been around for some time and handle the money side of debt review. They are called Payment Distribution Agencies or PDAs. They enable a consumer to simply make a single debt repayment each month. Rather than the consumer trying to figure out the intricate shifts in debt repayments and getting payments to

all their creditors at the right time each month, the PDAs handle all of that. Sometimes Debt Counsellors fail to fully inform consumers of the role and identity of the PDAs. This can lead consumers to query when one of these companies, who are registered with the National Credit Regulator debit funds from their account for their debt repayment. In a flat panic, the consumer thinks someone strange is taking their money. They then query the debit, and this can derail the process as the funds never make it to the credit provider on time as required by the court order and NCA. Some consumers eventually get confused about who their Debt Counsellor is, confusing them for

DONâ&#x20AC;&#x2122;T STOP PAYING!

10 Reasons Some Stop Paying their PDA. Some consumers even think that the Debt Counsellor handles their money and sends them a statement. This is not true. Either a PDA handles the payment side of things or the consumer does it themselves. Debt Counsellors are not able to take funds from consumers due to certain Terms & Conditions of Registration* with the National Credit Regulator (NCR).

Dissatisfaction

If a company offers good service, then we enjoy using their services, alternatively if they are not good at their job, we tend to try avoid them. We simply walk away. Can this be done in debt review? Why might a consumer under debt review feel they are not getting good service or are unhappy with the process itself?

Some consumers are not happy with the service they are getting

It may be that the consumer feels they are not getting good service from their Debt Counsellor. They may be frustrated

that the credit providers are still phoning them or that the PDA are not sending them statements regularly or other similar reasons. Sometimes consumers get confused about who and what the Debt Counsellor can actually control. They think the Debt Counsellor is all powerful and when they realize this is not the case they can grow dissatisfied. It is important for consumers to realize that they have begun a legal process with many intricate steps when entering debt review. Deciding to simply stop paying does not make the process disappear, and since it is a legal process regulated by the National Credit Act, it will have ramifications on their financial wellbeing. Simply walking away from the process and refusing to pay will not solve any problems. It will in fact, makes things much worse. Imagine if you are unhappy with the service that you are receiving from your mobile phone company and you decide to just stop paying for your contract (or buying new airtime). What will happen to your access to their network? *different DCs have signed different T&Cs and thus this is not true of all DCs. But basically most.

Credit ProteCtion – debt review

SuRe SuRe

Applied to go under debt review? Restructuring your monthly expenses? why not insure all your accounts on the one Credit Protection?

Credit ProteCtion Credit ProteCtion – debt review – debt review we will contribute towards yourdebt accounts in the event of the following: Applied to go under Applied debt to review? go under review? Restructuring your Restructuring monthly expenses? your monthly expenses? • death – we settle the account why not insurewhy all your not accounts insure all on your the accounts one Credit on the Protection? one Credit Protection? • temporary disability – we pay the Debt Review payment for 6 months we will contribute we towards will contribute your accounts towards inyour the event accounts of the infollowing: the event of the following: • Permanent disability – we settle the account • death – we settle •illness the death account wesettle settle the • Critical ––we theaccount account • temporary disability • temporary – we pay disability the Debt –Review we paypayment the Debt Review payment • retrenchment – we pay the Debt for 6 months for 6 months Review payment for up to 9 months

• • •

Permanent disability • Permanent – we settle disability the account – we settle the account Critical illness • – we Critical settleillness the account – we settle the account At a rate of R perthe R1000, retrenchment • –2.95 we retrenchment pay Debt – our we pay the Debt rates are among thetobest and our Review payment for Review up 9payment months for up to 9 months

benefit structure is the best in the

At a rate of R 2.95 At pera R1000, rate of Rour 2.95 per R1000, our market. rates are among the rates best are and among our the best and our benefit structure isbenefit the best structure in the is the best in the market. market.

ContACt one oR youR debt Counsellor! 0861 one 266 562 ContACt oR ContACt youR one oR youR debtwww.one.za.com Counsellor! debt Counsellor! 0861 266 562 0861 266 562 www.one.za.com www.one.za.com sam Haasbroek:

082 550 7294

sam Haasbroek: sam Haasbroek: sam.h@one.za.com 082 550 7294 082 550 7294 sam.h@one.za.com sam.h@one.za.com

marijke wessels:

082 729 3833 marijke wessels: marijke wessels: 082 729 3833 082 729 3833 marijke.w@one.za.com marijke.w@one.za.com marijke.w@one.za.com

terms & Conditions aPPly

terms & Conditions termsaPPly & Conditions aPPly

ONE Insurance Underwriting Managers ONE Insurance (PTY) LTD Underwriting Reg(PTY) No. 1996/008987/07 Managers (PTY) LTD Reg No. 1996/008987/07 Underwritten by: ONE Insurance Underwriting Managers LTD Reg No. 1996/008987/07 Authorised Financial Services Provider Authorised FSP8783 Financial VAT No. Services 4370160501 Provider FSP8783 VAT No. 4370160501

Underwritten by: Underwritten by:

Authorised Financial Services Provider FSP8783 VAT No. 4370160501

A Member of

A member of the

A member ofGroup the

A member of the

Group

DON’T STOP PAYING!

10 Reasons Some Stop Paying Will they let you carry on making calls if you have not paid? Even if you are getting lots of dropped calls or if your phone battery is dying much faster than before and you have a legitimate concern: If you do not pay, they will cut off your access to the network. Debt review is similar. If you do not pay then it is not your Debt Counsellor who is punished somehow, it is in fact the consumer who is put in harm’s way.

Someone Else Promises a Better Deal

Occasionally, those who have signed up for debt review will be approached by another firm who offer to arrange smaller debt repayments (somehow). If it is genuinely through debt review, then this is very unlikely. The calculations of a debt review is pretty consistent, and unless some huge lies are told to the court, the figures will be very, very similar no matter who is offering the service. If the discount offered is through some sort of debt mediation scam, then consumers should be careful as they will not only lose the protection of the National Credit Act if they use their

services, but probably lose their money too. Either way the other firm may make amazing promises of reduced repayment amounts.

Pay Less Scams. Beware!

The three NCR registered Payment Distribution Agencies all have to have their bank accounts regularly audited by the National Credit Regulator. They will not change accounts without warning their customers and debt counsellor’s months or even years ahead of time. One PDA staff member told Debtfree that it simply “will never happen”. Thus if you, the consumer, ever get a call from someone saying that you must reverse your debit order or change your debit order to a new account:

BEWARE! This is a scam! You will lose your money and it will result in your debt review payment not happening and the collapse of your debt review. Even if the person on the phone has all sorts of contact names and details about your matter, remember the PDAs will not change

bank accounts. If someone asks you to do this, be sure to report the matter to your real Debt Counsellor so that the police can investigate and hopefully arrest this person.

My Debt Is Not Getting Smaller

Before a consumer enters debt review they may be used to their debts having to be repaid over a short time period. They may expect their vehicle finance to take years and years but their smaller unsecured debts are normally planned over 18 or 24 months. Thus when a consumer enters debt review because they cannot realistically make these short deadlines for debt repayments, often the Debt Counsellor suggests to the court that the debt be repaid over a longer time period. Some consumers do not read through their court order to study how long it will take to repay each account, or simply forget over time how long it is going to take. Thus after some time, perhaps even a few years when they look at their debts they still have all their accounts ticking over very slowly. This can make them despondent and cause them to question the process. Some go further and say that the process is not working and decide to rather leave debt review.

Statement Differences

For various selfish reasons, many credit providers simply stop sending consumers their monthly statements. One reason is that many credit providers do not actually change the consumerâ&#x20AC;&#x2122;s obligations on their main computer systems when they enter debt review. If they do so, it affects their entire bookkeeping system and the amount of money they can lend and collect. Without such a change, their systems work out the level of the consumerâ&#x20AC;&#x2122;s debt incorrectly. If they were to send out a statement, it would be very different from the reality as set out in the court order. Sometimes a consumer may ask a branch or go online and check what their balances are according to the credit provider. Here they may see a big difference between what the PDA are saying and what the credit provider is saying. Many of the larger credit providers have begun making the change on their main system and this is reducing this problem. Even though a credit provider may do so, there will always be small differences between what the credit provider and the PDA statements show. This is due to the unique way each creditor works out interest and

DONâ&#x20AC;&#x2122;T STOP PAYING!

10 Reasons Some Stop Paying compounds interest as well as fees they may or may not add. Sometimes when a consumer sees these differences they worry that the process is not working. They do not think that the well known credit provider might be at fault. They panic and think that the debt review is not working or that the Debt Counsellor is incompetent. Rather than go and talk to the Debt Counsellor they simply stop paying.

I Want To Leave Debt Review

Some consumers mistakenly think that they can leave debt review simply by stopping payments and ignoring the process. This is unfortunately not true. Debt review is a legal process that begins when a consumer applies to a Debt Counsellor for help. The process then goes to court and ultimately is in place until the debt is settled (or most is settled) and the consumer receives a clearance certificate issued by the Debt Counsellor. Leaving before this point means the consumer is not getting the benefits of the debt review, doesnâ&#x20AC;&#x2122;t have the Debt

Counsellors help and cannot receive a clearance certificate. If a consumer wants to leave debt review early they need to go talk to their Debt Counsellor about the reasons. For example if the consumerâ&#x20AC;&#x2122;s financial situation has greatly improved they may be able to leave debt review after a few months once arrangements are in place with all the creditors and the accounts reconciled.

I Want To Spend the Money Elsewhere

In the past a consumer may have used credit to make purchases or go on holidays they could not really afford. Sometimes those under debt review fall into the trap of thinking that they can simply reverse or skip their debt review payment and use the funds for something else -maybe a family member who needs money. While they can do this, they should know that it will come back to haunt them. Missing this payment will see their financial situation once again plummet into ruin. Many consumers have used the funds for their debt review to repair their car and get it back on the road only to have the bank come and take the car away from them

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

DONâ&#x20AC;&#x2122;T STOP PAYING!

10 Reasons Some Stop Paying for having missed a debt repayment. It is often wise to talk to your Debt Counsellor and see how they advise you to deal with any such financial unexpected expenses.

I Want To Get Another Loan

After years and years of simply trying to borrow more money to try cover costs and buy new things, consumers find it very hard to see that they were simply digging themselves deeper and deeper into a hole. While debt review is a slow and steady climb out of the hole, some consumers convince themselves that they might be able to get another loan if they did not have the debt review status showing on the credit report.

donâ&#x20AC;&#x2122;t be a twit

http://twitter.com/Debtfree_DIGI

They forget that they simply do not have enough money to cover all the basic costs and still pay for all their original debt obligations. If they did, their Debt Counsellor could issue them a clearance certificate. If you come out of debt review you have to pay what the creditors were originally charging each month. Some feel that the only thing holding them back from another huge loan is their debt review and not the fact that they probably would be turned down for any loan anyway based on their ability to repay. Sometimes unscrupulous sales people try to convince consumers they will get the loan without thinking about the terrible consequences that may befall the consumer should they actually stop their debt review repayment suddenly.

MELIORLEAF WONâ&#x20AC;&#x2122;T LOAD YOUR PREMIUMS OR REPUDIATE A LEGITIMATE CLAIM Specialist insurance for people in debt review. Ask your debt counsellor.

CALL US NOW 0861 635 467 www.meliorleaf.co.za

DON’T STOP PAYING!

What Happens If You Don’t Pay? There are hardly any situations in which it is better for a consumer to stop or miss a debt repayment while under debt review. If a consumer stops paying, the debt review collapses. The consumer still has a debt review status and thus can’t access more credit, but their creditors will begin their legal collections process all over again. If the consumer stops paying then most credit providers pretend the debt review never happened and fall back to the consumer’s original contract and obligations. Imaging if a consumer was meant to be paying R1000 to a debt over a year but that they had this amount reduced to R100 during their debt review. After a year, the consumer

has now paid R1200 instead of R12000. Once the consumer drops out of debt review the credit provider reverts to the original obligations and now says the consumer owes them R10 800 more than the R1200 (12 x R100) they paid. The credit provider wants their payments to add up to 12 x R1000. The consumer is now seen as “in arrears”

and the credit provider demands that they consumer make up the shortfall or they will get a summons and judgment. If there is a vehicle or bond involved, the creditor may demand total repayment of the â&#x20AC;&#x153;arrearsâ&#x20AC;? or they will take legal action to take the asset and sell it on auction. Many consumers have sadly lost assets due to failing to make debt review repayments as they are ordered to by the court. Due to the fact that a Debt Counsellor is paid aftercare out of the consumerâ&#x20AC;&#x2122;s monthly debt repayments, if the consumer stops paying the debt review, they also stop paying for the Debt Counsellors help. Thus they may find the Debt Counsellor unwilling to assist them with sorting things out with the credit providers. Indeed, if a consumer breaks the court order and stops repaying debt, then the Debt

Counsellor may recommend to all their credit providers that they terminate their participation in the debt review and begin collecting from the consumer in the traditional collections way. It is very common for consumers who stop paying to later go back to their former Debt Counsellor once they realize what a mess they have created. They mistakenly think the Debt Counsellor has the authority and desire to repair the situation. For those who convince their Debt Counsellor to help them and promise to start repaying as per the court order, many find that not all creditors cooperate and they receive summonses and judgments for many of their accounts. While some creditors may decide to put the matter back into debt review, there may be legal costs involved and other complications which cause consumers a lot of stress.

DON’T STOP PAYING!

How to avoid Defaulting To avoid defaulting when an emergency comes along, be sure to save a little each month. Your Debt Counsellor will have built some savings into your budget. Another loan is not the solution. Ask yourself: “Do I want more debt or less?” If someone phones you with an offer that seems too good to be true... then it probably is. If someone tells you to change bank details for your debt repayment:

DON’T DO IT! Even if the call seems to come from the right company. The PDA’s have used the same bank details for years. Report this to your Debt Counsellor.

If you feel your debt is taking a long time to pay off then go have a look at your court order and see how long it says each debt should be paid for. If you want to speed up the process, then rather pay a little more toward your debts whenever possible. Do it via the PDA and let your Debt Counsellor know in advance. If you are unhappy with the service you are getting be sure it is the Debt

Counsellor’s service you are actually concerned about. If it is a money matter then it is actually the PDA you have an issue with. If it is with collections calls or incorrect balances on your statements, then it is the credit Provider you are worried about. If you feel your Debt Counsellor can do better, then please let them know. Make an appointment to speak to them. Let them know where they can improve. It will benefit not only yourself but others, including the Debt Counsellor. If you want to leave debt review, then be sure to have a long conversation with your Debt Counsellor about why and if it is a good idea. If they think it is a good idea, work with them and don’t just stop paying. They need to make sure all the credit providers are ready for that, and that they don’t simply put you back into the old collections process. That can take a little time. Leaving debt review or stopping payments in an effort to save money

is never going to work. Like simply stopping payments on your cell phone contract will make the company cut off your service while they still carry on sending you bills, debt review doesn’t simply end when you stop paying. If you ever worry that you may not be able to make your debt repayment at the normal time, in the normal amount then let your Debt Counsellor know. Talking to the person you are paying an amount to in after care fees each month should be your first instinct in nearly all of the above situations. A short conversation may help you avoid years of heartache and financial pain. Above all, never skip debt review repayments. The process only works while you pay. Even when things are not going the way you expected them to, or where service is less than optimal, you should remember this one simple rule.

Don’t Stop Paying!

INDUSTRY

CONSUMER

NEWS FLASH For daily debt counselling news in 3 minutes or less visit www.debtfreedigi.co.za

WWW.NCRDEBTHELP.CO.ZA – TRANSFERS

Every consumer who applies for debt review needs to be captured online on the NCR’s NCRdebthelp.co.za website. This site then updates all the credit bureaus as to the consumer’s status. When consumers need to change from one Debt Counsellor to another they also need to be moved on the NCRdebthelp.co.za online register. For many years it has been very difficult to do so. Over time the NCR have been dealing with a large backlog of transfers. Recently the NCR have been talking about automating the transfer process to make it much easier. The NCR have indicated that this automated process is going to come into effect this year. When it happens, Kedilatile Legodi Manager of Debt Counselling at the NCR say they will update all Debt Counsellors on the new transfer process.

AUTHENTICATED COLLECTIONS PROBABLY ONLY IN 2019

One of the challenges in the debt

review industry at the moment is when consumers who have committed to the process later reverse their monthly debt repayment. It was hoped that the promised authenticated collections process would help overcome this issue. Sadly, this now looks like the process, which was promised for 2016 is now going to only be in place in several years time. Leticia Mentz, manager of industry capacity development and communication at PASA, says the payments industry finally started working on the authenticated collections project in October last year, but the Reserve Bank eventually decided on a “phased approach”. They have now given the go ahead for a pilot project to test the concept which will only start in June. The deadline for the project has now been shifted by several years to Jan 2019. Though it is being presented as a slow and steady plan it smacks of people not being able to agree on how it is done and overshooting their deadline by a huge amount of time. Authenticated collections is being marketed to the public as a way to ‘protect consumers

NEWS CONTINUED

from unscrupulous companies that attempt to debit consumers’ bank accounts without their permission. As a result, consumers will more clearly know who is debiting their bank accounts, when they will debit it, and how much will be debited. However a huge motivating factor for the whole process comes from the other side of the fence, where credit providers and service providers would like to enjoy protection from consumers who regularly query debits. The project will help them in that authenticated mandates will not be easily reversible at the payer’s bank.

LEWIS AND NCR FIGHT OVER IN DUPLUM?

Lewis recently told the press that they have a very different interpretation of the statutory in duplum rule compared to the NCR but they feel that their understanding is correct and is in line with the determination of the Supreme Court of Appeal ruling on the topic. The NCR are not as convinced and are taking Lewis to court over the matter in an effort to get them to conform to the NCR’s understanding of the SCA ruling. The matter came to the fore when the Debt Counsellor involved in the matter, Philip Nortje, reported that Lewis’s debt review manager, told him that Lewis disagreed with his interpretation

of how section 103(5) should be applied. For most Debt Counsellors the understanding of the ruling is simple: You take the amount at the time of the default and double it. Debt repayments should never exceed this double up amount, no matter what. The disagreement between DC and CP on how and when to apply Section 103(5) caused serious challenges with the debt review application in question. The matter escalated from there as it found it’s way into the press and before the NCR. The Regulator is currently seeking a declaratory order as to the interpretation of aspects of section 103(5) of the NCA which they hope will put this matter to rest. For many years credit providers have lamented the death of the old induplum rule which allowed for a lot of extra fees and charges to be added compared to the new Section 103(5) law.

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

DEBT COUNSELLOR PROFILE

Cadle Odendaal DebtCare

www.debtcare.co.za 0861 977 873

How long have you been a DC? Iâ&#x20AC;&#x2122;ve been a Debt Counsellor for 8 years. Since being registered in 2009. What did you do before becoming a DC? After studying I worked in the financial industry, mainly as a Bond Originator. I became a full-time Debt Counsellor in 2008. Having spent time in the financial industry, I could see there was a lack of consumer education around debt. Sadly, the large majority of people start dealing with their debt too late. The effects of bad debt are devastating and reach far beyond just your bank balance and credit record. The inception of the National Credit Act in 2005, started changing this. What area (of SA) do you practice in? We have a large Debt Counselling firm which operates nationally. We have eight qualified Debt Counsellors and a very strong administrative team. Our people are the core of our business

and our customers love dealing with us. I receive emails, almost daily, from clients thanking a team member for their understanding, empathy and the human touch they bring to the Debt Counselling process. What makes your business a success? In the past eight years we have built very good relationships with all creditors across the board. These relationships coupled with our streamlined process makes Debt Counselling a lot less stressful for our clients. We offer every consumer the same quality of service and confidentiality is 100% guaranteed. I am also a qualified Financial Advisor and work together with one of the largest Financial Services Providers to further assist our clients and save them money on all their essential financial needs. Where do you find new business? Our clients refer a lot of business to us. We also actively market online and offer financial wellness days for corporate companies and their employees.

Who are your most co-operative and least co-operative credit provider at the moment? It changes constantly. The most cooperative at the moment are Consumer Friend, Nedbank and FNB. The least cooperative is ABSA. Standard Bank also seems to be less co-operative lately. What is the biggest challenge facing Debt Counsellors at the moment? The different legal interpretation of Courts in different areas. Getting Credit Providers to respond in a reasonable time. What is the biggest challenge facing your consumers at the moment? The unstable economy. It creates a domino affect – interest rate increases and fuel price hikes leading to everincreasing living costs. We’re also seeing a lot of consumers struggling due to spousal retrenchment and a reduction in overtime work. The recent increase in minimum wage will no-doubt also start effecting employment numbers, because it is now more expensive to hire people.

What advice do you have for consumers under with debt stress? We actually have a few great articles at www.debtcare.co.za that will help people identify debt stress and how to deal with it better. Debt stress gets into every corner of your life – your job, your personal life and your family. At the end of the day, debt stress a symptom. You have to deal with the root of the problem, which is your debt itself. This stress can be gone in five days. Just get in touch with a qualified Debt Counsellor. Check that the firm has a good reputation before you commit! If you commit to a bad firm, it’s extremely difficult to move your case to a more reputable one. What advice do you have for consumers already under debt review? Keep it up! It’s so great when people take the necessary steps to free themselves from debt. Also, never skip payments! Always contact your Debt Counsellor if you have any questions, queries or encounter payment difficulties. Your Debt Counsellor is there to assist you with the correct advice from the start of your debt counselling journey through to the end.

www.debtcare.co.za

All professionals have professional indemnity if the unforeseen happens. Do you as a professional Debt Counselor have professional indemnity as stipulated by the ethical code?

086 111 2882

TELEPHONE 0861 112 882 FACSIMILE 086 605 9751 MOBILE 082 449 6856 EMAIL andre@in2insurance.co.za

www.in2insurance.co.za

donâ&#x20AC;&#x2122;t be a twit

http://twitter.com/Debtfree_DIGI

SAâ&#x20AC;&#x2122;s FAVOURITE 2017

South Africa has voted! Here are the winners! At the end of 2016, Debtfree magazine invited Debt Counsellors, PDAs and some credit providers to sign up to be considered for public voting. The idea was to ask consumers and the industry in general who they think their favourite Debt Counsellor, PDA or Credit Provider is. The rules were simple: Donâ&#x20AC;&#x2122;t incentivize anyone to vote, but feel free to ask anyone to vote. Many found that it was a lot harder to convince their clients to vote than they expected, however thousands of votes poured in for various companies in the various categories.

To make things fair among the Debt Counsellors, we separated the Debt Counsellors into different areas and size operations. There is only a single winner in the National and large categories, but among the smaller boutique Debt Counsellor category we made provision for winners in different areas. Of course, companies had to sign up to be involved so some great readers and consumers voted for firms who had not registered and sadly their votes didnâ&#x20AC;&#x2122;t get considered (not too many though fortunately).

The Winners:

PDA: Vehicle Finance CP: Bank: National Debt Counselling Firm:

Hyphen PDA MFC (a division of Nedbank) Standard Bank Debtbusters

Large Debt Counselling Firm:

Consumer Debt Help

Boutique Debt Counsellor(s): Western Cape: Gauteng: Free State: Kwa-Zulu Natal:

Consumer Debt Support Debt Mend Sampson Debt Counsellors Finesse Financial Solutions

Congratulations to all the winners. For those who did not win but had lots of votes come in from their clients, think of it this way: Your clients were willing to take time to go online and vote for you. Though you may not have received more

votes than other firms with similar client numbers in your area the fact that your clients are enjoying your service enough to vote for you is simply amazing. Well done everyone and thank you to all those who took the time to vote.

IN A NUTSHELL

DONâ&#x20AC;&#x2122;T ABSCOND YOUR RESPONSIBILITY TO YOUR DEBT COUNSELLOR Many people are lured to live a lifestyle they canâ&#x20AC;&#x2122;t actually afford. Easy access to credit aggravates the extent of the debt problem. Credit cards are stretched to their overdraft limits to pay for basic items like food and clothing. According to Credit Bureau statistics, close to 50% of working South Africans find themselves with less and less money to service their debt and cover daily costs. In these circumstances, debt review is a wise choice to regain financial control. Debt Counsellors play a valuable role in the debt review process by helping you budget and by negotiating on your behalf with your creditors. In this process, they are able to reduce

your monthly debt repayments, whilst leaving you with enough money for living expenses. Many people fall into the debt trap because they lose sight of all their debt. According to the National

Payment Distribution Agency (NPDA), debt-counselling clients have an average of eleven creditors to pay on a monthly basis. Remembering who needs to be paid, what amount they need to receive, and by when, can in and of itself be very complex and stressful. Debt review simplifies this process as you now only need to make ONE payment, which gets distributed by a payment distribution agency to all your creditors.

Don’t skip payments at any time in the process Missing payments, short paying or even making an incorrect payment can lead to a creditor terminating their account. If a creditor terminates, you no longer have protection and valuable assets like your house or car can be attached. Check your Bank and Creditor Statements Check that your bank statement and creditors statements monthly. According to the In Duplum rule, the fees plus the interest of the debt cannot exceed 100% of the value of the debt at the time of default. Monitor the interest and fee charges and raise concerns with your Debt Counsellor immediately if something doesn’t look right.

However, being in debt review doesn’t mean that you hand over complete responsibility for your debt management to your Debt Counsellor. Bad habits must be replaced with good habits when the debt review process starts. If not you run the risk of getting into more serious trouble. The reality is YOU need to take Check your Payment Distribution control and monitor your expenses and Agency Statement review your statements monthly. You are entitled to receive a statement from your Debt Counsellor and payment Open a bank account for debt review distribution agency. This will help you Open a new account that you can keep track of payments made. exercise control over. Get your salary paid into this new account. Monitor Be aware of end balances bank fees and other costs that may The payment distribution agency pays hamper your ability to make accurate according to your repayment plan payments. Ask your Debt Counsellor to as specified by your court order and negotiate your bank fees as part of the the account balances received from debt review process. your credit providers at the time of the application. As you approach the

end of your debt review there may be end balances that have accumulated primarily due to interest, fees and payment timing differences. Work with your Debt Counsellor to determine what these are ahead of time so that these can be negotiated and settled in time.

Use bonuses and salary increases sensibly Your instinct may be to spend this additional money immediately; however, the savings in interest on your debt are often worth it. Use this money to settle smaller debts and reduce your overall burden of indebtedness.

Entering debt review is your first step towards regaining financial control, however, don’t stop there, stay involved and keep track of what is happening throughout the process. Stay in contact with your Debt Counsellor, they are there to provide financial guidance and ultimately help you overcome the burden of too much debt.

IN A NUTSHELL is brought you by the DCM Business Partnership Programme™, designed to support debt counsellors and consumers during the debt review process, in collaboration with the National Payment Distribution Agency (NPDA). For help, contact the NPDA on 0861 628 628. If you have suggestions for topics that you would like covered in future, please email info@dcmgroup.co.za Debt Review Awards Winner 2014 and 2015: NPDA: Payment Distribution; Client & Customer Service; Industry Support & Engagement Care Premier: Debt Counselling Software

Debt Review should be tried before applying for insolvency In the recent Ex parte Fuls and Three Similar Matters 2016 (6) SA 128 (GP) the court recently ruled that it would not accept insolvency applications (voluntary surrender of the estate) unless the debtor explains why a proper application for debt review under the National Credit (NCA) would not be better for credit providers. In this case there were four applicants, three of whom had applied for sequestration with almost identical stock standard insolvency application papers. Principal to the idea of a sequestration is showing benefit to credit providers. In sequestration matters, the court involved has to check that the application for voluntary surrender (insolvency) meets this key requirement. Since debt review regularly offers a way for both consumer and credit provider to benefit, the court askes: why was this option not pursued first?

Thus, an applicant for insolvency should add to their court application whether they tried this remedy or not. If they did, the court will require a detailed report from the Debt Counsellor about whether the consumer cooperated with the process or not and what happened. If the consumer didnâ&#x20AC;&#x2122;t try this option, they should motivate why not. Since these four clients did not even look into debt review as an option, all four applications for insolvency were thrown out. Thus, consumers who are experiencing financial difficulty should be aware that insolvency is really a last resort, and must clearly benefit the credit providers more than any other option. Should a consumer apply for sequestration, they may find that the court interrogates them on the other remedies they could have taken instead, such as debt review.

PROFESSIONAL DEBT COUNSELLING ATTORNEYS

T E L : 021 872 1968 1 1 MARKET STRE ET, PA ARL w w w.ste y nco etze e.co.za

RUNNING AN INFORMED PRACTICE We keep hearing the catch phrase “this is the information age,” but what does been part of the information age mean to a wellrun Debt Counselling Practice? Put differently, what information does a good Practice need in order to be a Good Practice? Information about

THE PROCESS

An important key to success is staying on top of the Debt Counselling process. The Debt Counsellor must know at a glance what has and has not been achieved. This information needs to come in different formats depending on the size of the practice. Maximus provides the user with details on what is due and what is overdue in their workflow on a live basis. However, where the Practice has a large number of users, this is not enough. For this reason summary reports are delivered to key managers every day enabling them to keep an eye on everything with a “view from the top”. Because these reports are delivered in Excel format the opportunity also exists for the DC to do further analysis of their processes.

Information about

THE CUSTOMERS

The hardest part of any business is finding the customer. This is true whether you are selling motor cars or Debt Review. The first step to tailoring your message is to know who your target market is. Maximus provides Debt Counsellors with information with which to

analyse their existing books to establish the demographics of their customer base. Once marketing has commenced, the SOURCE code in Maximus enables Debt Counsellors to monitor the success of their campaigns.

FINANCIAL INFORMATION

Another key to the success of any business is the quality of the financial information provided. With Hyphen PDA every Debt Counsellor using the Maximus system receives comprehensive and detailed reports about future and previous cash flows, collection success and summaries of distributions to Credit Providers. Of course, the payment (or not) of fees also feature prominently in the PDAâ&#x20AC;&#x2122;s reporting, as does the size and shape of the Debt Counsellorâ&#x20AC;&#x2122;s book. Truly empowering information that can help to manage your business better.

Information for

THE CONSUMER

Keeping the consumer updated is a further key to a successful Debt Review. Maximus makes this easy in three ways. Firstly, progress through the Debt Review is reported automatically by the system to the Consumer by SMS and e-mail; Secondly, statements on the progress are available in real time from both a DC and a PDA perspective; Thirdly, the Debt Counsellor can communicate with his clients individually or in bulk, by typed message or by template and by SMS or by email. Just a few clicks keep the channels to the consumer open, keeping them informed and motivated.

But what good is information without meaning

It is all very well to have so much information available, but what to do with it? The Maximus Relationship Team, led by Corrie van de Venter, are standing by to interpret and give meaning to the information, guiding you towards well informed business decisions. Next month we look at the information you need to run a successful practice.

Contact Maximus on 011 451 0041

Die Republiek van

SKYT AFRICA Welkom by die Republiek van Skyt Afrika, apologie aan Karen Zoid, dankie dat jy my die idee gegee het vir die naam, jou programme is great en n inspirasie vir alamal. Aan al die lesers van Debtfree Digi welkom by die eerste van n reeks artikels in Afrikaans en dankie aan Zak King, die redakteur wat nie eintlik Afrikaans verstaan nie dus het ek n vrye hand (tot hy eendag Afrikaans verstaan) Die doel van hierdie artikels is nie om enige regering, instansies of wat ookal te beledig of aan te vat nie maar om te poog om tong in die kies na die lewe te kyk. Die onlangse begroting het my laat dink aan die Wet van Transvaal, selfs die Kapenaars en die Durbaniete verstaan die wet en ek het uit oordentlikheid die bewoording verander – skyt en betaal. Ek is nie van natuure n persoon wat n

gemoedsbekakking kry nie maar magtig die pyn, maag, kop sommer alles van hierdie begroting is genoeg om ons toilet toe jaag! Kom ek som op. As jy rook – Skyt en betaal. As jy n drankie geniet – Skyt en betaal. As jy branstof ingooi – Skyt en betaal.

As jy n inkomste verdien met hoër belasting – skyt en betaal. As jy n soetand het – skyt en betaal. Ai mense, en dan word die sewrage plase nie nie eens onderhou nie! Dit gaan nou vir jou n k.. spul wees. En so gaan ons seker skyt skyt die bult uit. Die lewe is wat dit is en ons moet maar klaarkom, come hell or high water, ek weet nie wat dit in Afrikaans is nie, seker maar weer die Wet van Transvaal? Gelukkig verdien nie een van ons R1.5M per jaar nie wat nou super duper belasting gaan betaal, ek weet nie van julle maar ek sukkel om empatie,

simpatie of jammer te voel vir hulle, wat het Lucas Maree gesing – ek sou kon doen met n miljoen – die mense is seker nie deel van ons lesersgroep nie, shame. Aan almal wat finansieël sukkel, n gedagte van die dag. Dit is nie lekker om dag in en dag uit te sukkel nie maar ter wille van jouself en jou familie, soek jy iets om oor te lag en deel dit. Kyk rond daar is baie funny goed wat rondom ons gebeur, moenie die lewe miskyk nie, op die einde van die dag is dit al wat ons het. Laat asseblief vir Zak of Debtfree weet wat jou mening is oor hierdie rebriek en of jy ander aspekte aangesreek wil hê*.

Groete van die Republiek van Skyt Akfrika. Ons gesels met julle ondersteuning volgende maand weer. 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

DEBT COUNSELLORS ASSOCIATIONS ANNOUNCEMENT BOARD

Regional Meetings Kwa-Zulu Natal: Western Cape: Gauteng: Freestate: Eastern Cape:

19/05/17 23/05/17 28/03/17 12/05/17 17/03/17

Check out this huge banner that someone draped over the N1 highway in Joburg: http://ewn.co.za/2017/01/09/fnb-customertakes-fight-with-bank-to-the-streets

The Date of the DCASA Annual Conference is Wednesday the 16th August 2017

www.dcasa.co.za

1. The Executive committee will hold its first meeting by end of March 2017 2. The main focus in 2017 is on ensuring that all BDCF members comply with all legislation, regulations and conditions of registration. 3. Our communication channels will be strengthened to enhance accessibility by members. 4. Special projects will be launched around April in areas such as Incapacitation or death of DCs, usage of PDAs by consumers, as well as fees. 5. Members and supporters will be fully engaged when the projects are launched to ensure maximum input and participation.

www.bdcf.co.za

www.newera.org.za

We held our Annual General Meeting in February and thank all who could join. Members who missed the AGM should have received minutes from the AGM. If you missed them please let us know on the Facebook group. (More on the AGM in this monthâ&#x20AC;&#x2122;s newsletter).

www.allprodc.org

FEBRUARY

NEWSLETTER

AGM February saw us hold our Annual General Meeting. We were happy to have various members join us online and we were able to not only talk about past achievements but also the way ahead for the association. This year will see the association reaching out to various industry parties from the Regulator to Debt Counsellors and credit providers. Particularly in the next 3 months, steps will be taken to try to engage again with the Regulator as well as the Credit Industry Forum (CIF). Besides focusing on helping members get more business, we want to keep our eye on the goal of members offering highly professional service to consumers, the courts and credit providers. There will also be some changes made to our online presence and marketing as decided upon at the meeting. The voting process for NEC positions went smoothly. Some posts on the National Executive Committee however, still need to be filled and thus we will hold a follow up meeting in regard to those posts during May 2017. Thank You For Your Hard Work We want to thank all the members of the previous NEC who put in a large amount of work, free of charge and who used their time and own resources to try assist our members and the industry in general. In particular, we wish to thank our outgoing Chairperson Zune for all her efforts. No one can doubt her conviction in the benefits of the debt review process and how it can help consumers nor her drive to see things improve. Sometimes the role of Chairperson becomes more than just organizing the meetings of the association. Zune was able to fill the role for 2 consecutive years despite running her own practice etc. We thank her for all the hard work and long hours. A special thank you must also be given to Hennie who has kept an eye on the finances for so long, despite personal challenges and demands on his time and energy. The members really appreciate the passion and effort that has gone into filling these roles. We also want to wish those who will serve on the NEC this year all the best and remind them that they do not have to carry all the work on their shoulders. As a group we look forward to working along with the NEC to get big things accomplished this year.

www.allprodc.org

FACEBOOK: www.facebook.com/AllProDC / TWITTER: www.twitter.com/AllProDC

FINWISE - INNOVATIVE DEBT MANAGEMENT PROGRAM

No monthly program fees! Accessible on PC or Desktop

• • • • •

Excellent audit trail Workflow management Easy to navigate functions Quick data capturing DCRS and standard proposals accommodated.

‘’ I was pleasantly surprised by our experience and changeover to Finwise. The new system is intuitive and easy to understand.‘’ Debt Counsellor Eastern Cape ‘’ I’ve found the Finwise system to be very useful. I’m new in the debt counselling field, I managed to find my way around the system as it is very user-friendly. The training manuals provided are also helpful and informative.’’ Debt Counsellor Gauteng

BUSINESS SUCCESS - THE “GO-GETTER” APPROACH Various things like good financial management and quality products are vital to run a successful business. Human capital, however, is the driving force in any business and can make or break a business. Looking at successful businesses, they are high energy and the staff are passionate, motivated and believe in the business objectives. The ‘’go-getters’’ see opportunities in every situation and when interacting with clients, they instill trust with the positive image they deliver about the organizations they work for. Persons with a ‘’can do’’ attitude are needed in all walks of life, the ones who say yes to change because change means growth. What kind of business leader or person are you? Challenge yourself to be a go-getter with a can do attitude and align your company with businesses practicing the same good conduct. SOME QUALITIES OF THE ‘’GO-GETTER’’ • The go-getter attitude does not hesitate; he/she thinks, when do I start? • The go-getter attitude does not ponder whether he/she can, they know they can get it done with collaboration and action. • The go-getter believes in him/herself, and the company. He/she believes in the times ahead and wants to be a key part of it. • The go-getter sees continual change as a recurrent opportunity. • The go-getter only knows one way of doing and living: with bravery, self-assurance, passion and integrity. Why settle for less? DC Partner is positively orientated towards change, growth, industry development, product enhancement and delivering high quality customer service. Article by: Petro de Beer

Say yes to change, say yes to a company with a ‘’Can do Approach ‘’ and a ‘’Go-Getter team’’!

Head Office 59 Victoria Street, George Telephone 044 873 4530 Fax 086 246 2450

www.dcpartner.co.za

DCASA MEETING The Debt Counsellors Association of South Africa is the largest Debt Counsellor association in the country, and regularly holds regional meetings with its members. The association recently began a new series of meetings for 2017 and Debtfree were able to attend. Recently the National Executive Committee of the Association met, and these regional DCASA meetings are a chance to report on the results of that NEC meeting, as well as the current state of the industry. Eugene Cillier who presented the industry round up section, pointed out how every meeting in 2016 had been very predictable, as the same topics were debated and discussed the whole year. This year will see the NCR reviewing fees, and making a draft of new fees available for comment. DCASA and members will be able to do so and are encouraged to do so. DCRS (a computer program designed by the banks to handle debt review negotiations automatically) was discussed, and it was revealed that though there are funds in place for the present changes being made, the NCR

had been asking certain members of the industry to help cover the costs of future changes. There was also talk of the NCR perhaps, trying again, to issue codes of conduct for the industry (this happened once before but was shut down). Two court cases were briefly discussed which may impact the industry. The first being on the topic of â&#x20AC;&#x153;set offâ&#x20AC;?, this is where the bank moves funds from one of your accounts to another to offset a debt, or a debt repayment. The case involves Standard Bank, and may result in the banks having to ask consumers permission before doing so in the future. At present, most consumers have consented to set offs happening in their original contract documents. When it does occur during a debt review, it can seriously disrupt the process. The

second case discussed involves Lewis Stores, and how they disagree with the way the NCR understand a past ruling on Section 103(5). This is where a debt, which the consumer has defaulted on, can never more than double in amount. That is, the payments made can never add up to more than double the debt from when the consumer first defaulted. This is a hot topic and the matter is likely to travel to the highest courts in the country for further clarity. The local meeting we were able to attend also featured a very useful round up of specific differences between local magistrate’s courts and the papers and procedures for debt review matters. It was sad to see that some courts such as the one in Simon’s Town, still seem unable to handle debt review cases with ease, even after a decade. It was also troubling to hear that due to the recent disastrous Nedbank v Jones ruling, several courts have simply stopped granting debt review applications. There is talk of this matter and the resultant refusals of the courts, being taken on review and elevated to higher courts but it was unclear when this might happen. XDS Danielle Galloway, of XDS Credit Bureau, encouraged Debt Counsellors to be vigilant in getting consumer permission

before drawing a credit bureau report (preferably in writing). She discussed why and how credit bureau reports can be used for fraudulent purposes. She warned that if any firm tries to sell customer leads to a Debt Counsellor saying that they are “partnered” with a Credit Bureau, this is not true and cannot be so. Training of Debt Counsellors The NCR put out tenders for more trainers for Debt Counsellors in 2016, but suddenly retracted them. Thus for many years, the same small group has been handling NCA training. All in attendance feel that currently the training process is underwhelming and even though it has been extended from the old 5 days to 10 days, is still lacking. Due to the lag in the Regulator updating the official course material, as amendments and new regulations are issued, often training is given on things that are out dated or inaccurate. For example, training on the past amendments to the Act was only included a full year after the amendments were made. DC Partner mentioned that they too had noticed the shortcomings of the current training process and that they offer a 3 day additional practical training course for DC’s and DC staff and can be contacted about this. It is hoped there will be a new tender process in 2017.

DC Partner Sponsors for the day, DC Partner made an exciting announcement about their intention to hold an event in May 2017 where Debt Counsellors of all associations will be able to attend. More details will be shared soon, and Debtfree will be sure to keep our DC readers informed. Another exciting announcement was the launch of the DC Partner twitter page @dcpartnerpda A Few Bad Apples An interesting topic of the day was the recent move among Debt Counsellors to try and rid the industry of any firms who are abusing consumers, or bringing the industry into disrepute. Though this may seem to be one of the things that the Regulator is tasked with, several Debt Counsellors find they are not convinced that the NCR are taking enough action in this regard or that they are even looking in the right places. While the NCR has recently become myopic about call centre marketing, most of these firms act independently of actual debt counselling firms or are not run by any NCR registered parties. As a result, there has recently been a drive among the community to gather information on firms who may

be overstepping the NCA or taking advantage of consumers. For example, a firm may be taking on clients but not doing much more than sending out a few forms and registering the consumer on the NCRâ&#x20AC;&#x2122;s database (and thus on the credit bureaus). The intent of this drive among both Debt Counsellors and Credit Providers is to hopefully enable either the police or the NCR to launch suitable investigations as their mandate allows. Also discussed was the concerning trend of some larger firms being targeted by syndicates who try to convince clients to change bank details for their debt repayments. These funds are then stolen. Debt Counsellors were encouraged to report any such activity to DCASA. This brought the meeting to a close and afterwards Debt Counsellors and the sponsors were able to mingle and discuss the topics of the day.

2017 Debt Review Awards CLICK HERE TO REGISTER

JOB

APPLY FOR YOUR Join the Meerkat Team An exciting place to work! Meerkat are looking for:

Frontline Agents, Collections Agents, General Administrators, to join our energetic team.

This is a great opportunity to become part of a fast-paced, high growth and professional debt counselling environment. If you are looking for a company with an entrepreneurial spirit at its heart, and are keen to join a dynamic, hardworking but fun team contact us. We would love to hear from you! Mail us on info@meerkat.co.za www.meerkat.co.za/careers/

MyMeerkat (PTY) Ltd. Meerkat is an authorised financial services provider (FSP 46535)

DREAM JOB NOW WANTED

CALL CENTRE AGENTS Job type: Full-time Location: Vereeniging, Gauteng Weâ&#x20AC;&#x2122;re looking for experienced call centre agents for our Vereeniging branch.

Please email CV to linda@consumerwise.co.za or fax to 086 600 0798

www.consumerwise.co.za

“ It always seems impossible

until it is done”

- Nelson Mandela

Specialist Attorneys dealing with Debt Review matters Magistrates Court and High Court Matters TEL 021 913 2514 FAX 0866070940 EMAIL info@liddles.co.za PHYSICAL ADDRESS 7 Chenin Blanc Street, Oude Westhof POSTAL ADDRESS PO Box 3407, Tygervalley, 7536

DEBT COUNSELLORS CARE GROUP

YOU HANDLE THE FRONT OFFICE AND WE WILL HANDLE THE BEHIND THE SCENES ADMIN WORK FOR YOU. FOR MORE INFO ON HOW WE CAN HELP YOUR DEBT COUNSELLING PRACTICE BE MORE PROFITABLE CLICK HERE

DEBT COUNSELLING COMMUNITY SUPPORT DCCS want to thank DCM and NPDA for their generous contributions and support. With their help we were able to not only distribute needed end of year holiday hampers to deserving debt review families but also Back To School hampers to several families. DCM and NPDA have been consistent supporters of the DCCS projects and have made a big difference in the lives of several vulnerable debt review consumers since we began.

DEBT COUNSELLING COMMUNITY SUPPORT

DCCS are already planning our next campaign. If you know of worthy community projects or projects launched by consumer sunder debt review please let us know. We would like to help spread the word. If you are a Debt Counsellor and have consumers who would benefit from additional support which would enable them to stay in the debt review process please let us know.

Check out our website for pictures, stories and more and as always if you would like to get involved in one of our projects (like our back to school project for Jan) then we ask that you simply email admin@dccsupport.co.za

SERVICE D

CLICK THE C

DEBT COUNSELLORS

SUPPORT SERVICES

TRAINING

FINANCIAL

FINANCIAL PLANNING