I WANT IT
NOW! Issue 10 of 2023
EXCELLENCE IS DOING ORDINARY THINGS EXTRAORDINARILY WELL – John W. Gardner
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FROM THE EDITOR Where were you in 2014? In 2014 our team were helping host the first annual Debt Review Awards in Cape Town. Around 100 guests crammed into the financially historic building on Spin street and heard the results of the various industry panels. Since then the process has changed and now an industry peer review process helps identify who will take home the Golden Piggy Bank Awards each year. This month the team were once again busy helping host the 10th annual Awards event. A decade has flown by. And what do we have to show for 10 years? Well, more loadshedding, new wars in new places, global warming causing extreme weather, a weaker Rand and higher inflation. We have seen a global pandemic come and go (kinda go) and things have been tough, for sure. What we do now see is a much matured debt review industry. We now see a higher use of the NCT to help keep consumers
legal costs down. We see increase API integration between the banks and PDA systems. We see consumers and Debt Counsellors able to access account information via various portals and we see Courts that are far more familiar with the process. We have also seen the industry grow and change in interesting ways. Of the 4500 people who have qualified to be a Debt Counsellor over the years, most have since quit. Now only a small remnant of around 1700 people are actively helping consumers through the process. The industry has embraced advanced client management and calculation software and these days we see many Debt Counsellors operating together in larger sized practices pooling resources than ever before. Back then we thought one practice having 4000 clients was massive. Now, we see many practices with over 10 000 clients (and some with many more). Though the number of consumers coming into and out of the process is still similar to that in 2014 (tragic) the role players have changed somewhat. Other things have also changed in a decade. Common challenges back then have fortunately come and gone. Gone are the days of mass “terminations” in an attempt to get people out of debt review.
Still, these days we see an increase in scammers trying to trick people by pretending to be able to get them out of debt review and miraculously back into the credit market even though they still have debt. Social media is rife with such rubbish. All this came to mind as we were helping prepare and run the Debt Review Awards gala this year. We were making use of social media and live streaming tricks we all embraced during Covid to reach more people than ever across the country and the venue in Gauteng was packed with the industry’s “who’s who”. This issue we have a detailed recap of the event for those who could not be there in person. We also take a look at the dangers of both the desire for instant gratification and shopping holidays like Black Friday. We have tips, news, advice, in depth looks at what is brewing in the world of debt review and how it might impact you. We hope you enjoy it. 10 years can fly by. Hopefully in ten years’ time we will look back and think how bad times were in 2023 and how far we have come since. That would be great. And presumably by then we will also all be debt free.
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CONTENTS I WANT IT NOW!
BEWARE BLACK FRIDAY HYSTERIA
CAR LOANS AND PRESCRIBED DEBT
THE 10TH ANNUAL DEBT REVIEW AWARDS 2023
SERVICE DIRECTORY
DISCLAIMER Debtfree Magazine considers its sources reliable and verifies as much information as possible. However, reporting inaccuracies can occur, consequently readers using this information do so at their own risk. Debtfree Magazine makes content available with the understanding that the publisher is not rendering legal services or financial advice. Although persons and companies mentioned herein are believed to be reputable, neither Debtfree Magazine nor any of its employees, sales executives or contributors accept any responsibility whatsoever for their
activities. Debtfree Magazine contains material supplied to us by advertisers which does not necessarily reflect the views and opinions of the Debtfree Magazine team. No person, organization or party can copy or re-produce the content on this site and/or magazine or any part of this publication without a written consent from the editors’ panel and the author of the content, as applicable. Debtfree Magazine, authors and contributors reserve their rights with regards to copyright of their work.
I WANT IT
NOW! THE DANGERS OF INSTANT GRATIFICATION
I WANT IT NOW...
THE INSTANT GRATIFICATION
GENERATION
People these days tend to seek instant gratification in all aspects of life. Whether it’s the impulse to buy now, rather than save up for it, to indulge in a fleeting pleasure through the use of drugs, or avoid longterm planning, the desire for instant rewards often drives our decisions. Our attention spans are shorter, and working hard for things is less desirable than ever before. Instant gratification can also affect moral decisions. People make impulsive choices in pursuit of short-lived pleasures, such as cheating on a partner or substance abuse. Criminals seldom think of the long term consequences of their actions and rather focus on the “now”. Even the planet suffers when society prioritizes immediate gains over long-term sustainability. The depletion of natural resources and rampant pollution, driven by the desire for short-term profits, has had severe ecological consequences. Say “good bye” to the Antarctic ice shelfs and “hello” to global mass refugee migration, due to rising sea levels and extreme weather.
I WANT IT NOW...
WHAT IS INSTANT
GRATIFICATION? Instant gratification is the pursuit of immediate satisfaction or pleasure without thinking about or worrying about the long-term consequences, e.g. when people prioritize shortterm rewards over potential future benefits. It is the opposite of delayed gratification, which often involves doing work now for future benefits. Think about studying for a big test. If you put in the effort and study ling in advance, you might not feel great instantly, but you’ll do better on the test. That’s delayed gratification, where the reward comes later. Children in particular, hate to wait, and are known for their desire for things NOW. While our impulse control may improve as we get older, many of us still have a strong desire for instant gratification. Waiting is just so boring!!!
I WANT IT NOW...
INSTANT GRATIFICATION
& MONEY
One of the dangers of instant gratification is the taking on more and more debt in the form of credit. With the ease of access to credit these days, few consumers really have to wait to get things. Impulse spending, driven by the desire for instant satisfaction or gratification, can unfortunately lead to serious financial troubles, especially when people use their credit without thinking about the long-term consequences of having to pay back the debt at high interest rates. Consumers often go for instant gratification while credit providers are looking for delayed gratification or profit making.
I WANT IT NOW...
TO SAVE OR
SPEND? Very few people are saving money any more. A small portion of formally employed people have some sort of retirement fund but even then, they are seldom setting aside other money towards upcoming annual expenses (eg. your car license or a car service). Increased dependence on credit and a desire for instant gratification has led to prioritizing immediate desires over setting money aside for possible emergencies, education, or retirement. This can leave people financially vulnerable when unexpected expenses come along. This is even true for people in debt review who have had professional budgeting help from a Debt Counsellor, and have been encouraged to save something each month. Have you been saving for December holidays? Have you been saving towards back to school costs in January? It’s not too late to start now.
I WANT IT NOW...
DEBT REVIEW & DELAYED
GRATIFICATION Delayed gratification is like making a smart and patient choice, where you decide to wait for a reward that’s even more satisfying in the long run than short term. For example, paying off debt to become debt free. Owing a lot of credit providers on your credit cards or loans can be super stressful. It’s like having a massive weight on your shoulders, and the collections process can be unrelenting. While instant gratification would be to spend your money on something fun right now, like going out to eat, buying cool gadgets, or going on vacation, that would leave you in debt and dealing with that resulting stress. Instead of going for that instant reward, rather talk to a Debt Counsellor and make a plan to pay off your debt, bit by bit.
It means choosing to use your money to fix your financial situation before treating yourself to more luxuries. This will mean cutting back on non-essential expenses, sticking to a realistic budget, and consistently making monthly payments towards your debt. It’s not as immediately exciting as a shopping spree, but as you stick to your restructuring plan and work towards becoming debt free, the satisfaction you’ll feel when you finally achieve that goal is incredible! Each time you settle one of your smaller accounts, you have a satisfying feeling. Soon, you will be able to use all your money for things you truly value, without having to pay off any debt. One of the benefits of debt review and slowly paying off your debts one by one, is the peace of mind that you get from knowing you are finally getting free of your debt burden.
I WANT IT NOW...
WORKING TOWARDS A DEBT
FREE FUTURE
Life’s not always about quick fixes and instant gratification. Sometimes, you need to work hard and be patient to get the best results. Delayed gratification, for those in debt review, means sacrificing some quick joys for a much bigger and more lasting reward in the future. Sure, instant gratification is like a tasty snack, it is nice and yummy but it only lasts for a little while. And yes, we all need a little fun every now and then, but don’t forget about the big, fulfilling meal you’re working towards in the long run like getting out of debt. If you are in debt review, keep reminding yourself of the progress you are making. Track your progress. Stick to your monthly repayment plan and stick to your budget. Getting out of debt will be one of the most liberating feelings you will ever have in life.
NCRDC1142
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BEWARE
BLACK
FRIDAY
HYSTERIA
BEWARE BLACK FRIDAY HYSTERIA
WHAT IS
BLACK FRIDAY? Black Friday is an annual shopping event that originated in the United States. Traditionally it takes place the day after the American Thanksgiving holiday (which is the fourth Thursday in November). Black Friday marks the unofficial start of the what can be called the ‘holiday shopping season’. It is famous because in the USA, retailers offer amazing discounts and fabulous low cost promotions, slashing prices on various in demand products. These days, many local retailers start offering early access to Black Friday “specials” or even run a Black Friday month long event with daily specials offering discounts. And Black Friday is often followed by some sort of Cyber Monday, with lots of specials on tech and IT gadgets. Black Friday sales can be quite substantial, and it’s not uncommon for people to wait in long lines overnight or go shopping at the crack of dawn to get the best deals. We have all seen those videos of people storming into stores and knocking over old grannies to grab sales items.
?
BEWARE BLACK FRIDAY HYSTERIA
WHY
BLACK FRIDAY? The name "Black Friday" is said to have come from the idea that retailers’ financial records would go from being "in the red" (where in the olden days people wrote losses in red ink) to being "in the black" (indicating profits) on this day due to the high volume of sales. It has become a significant event for both retailers and consumers and social media and sales emails can really get you all hyped up to spend, spend, spend. It is shopping FOMO on steroids. When everyone around you is spending and talking about the amazing deals they got, it can be hard not to just join in, even if you can’t really afford it. This is why it can be difficult for those sticking to a budget to avoid giving in and splurging on something nice even if they do not really need it or really need it now. But the retailers are eager to get you in their stores spending all your money so they can go from being ‘in the red’ to ‘being in the black’.
BEWARE BLACK FRIDAY HYSTERIA
BE VERY, VERY
CAREFUL!! If you are in debt review, carefully consider if you need to get something for Black Friday. Beware of the FOMO getting the best of you. While instant gratification can be fun, it can seriously impact on your saving towards other important annual costs. And if it messes with your ability to make your debt repayment in November it is simply not worth it. You can lose all the progress you have made to date. That’s a bad exchange no matter how good the deal. If you have slowly been saving towards a certain item and will do some shopping around for the best advertised deal then that’s probably ok but beware of just buying something on impulse because it is a good price. Some people who are living on less simply decide to totally ignore all the media hype and adverts instead of being sucked in. Others decide to keep an eye out for items they are actively shopping for or have been saving towards. Whatever you decide to do this year, beware of Black Friday Hysteria!
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Why Choose Us Clients choose us for our debt counseling and correspondent services because of our personalised approach, unwavering integrity, and extensive expertise, as our registered debt counselors provide compassionate support by negotiating manageable payment terms with creditors, while our efficient assistance as correspondents to lawyers across South Africa ensures prompt execution and reliable solutions for a variety of legal matters, ultimately leading to client satisfaction and peace of mind.
Compassionate Debt Counseling Attorneys
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CAR LOANS AND
PRESCRIBED
DEBT
CAR LOANS AND PRESCRIBED DEBT
WHEN IT RAINS
IT STORMS Many consumers have become aware that if you do not make payment on a debt nor acknowledge the debt with a credit provider for 3 years, and they fail to sue you for the credit, the debt “prescribes”. This means that the debt can no longer be collected by the credit provider. The debt has died. They missed their window of opportunity to collect more funds from the consumer. The credit provider should have served a summons and gone to court during this time if they were serious. Some wonder how this applies to vehicle finance. While it is possible that the situation may come up (however unlikely) that the bank forgets to take the matter to court after so
many missed payments, there is a slight difference with vehicle finance compared to other forms of credit. When a consumer takes finance to pay off a car, the vehicle actually belongs to the bank during this time. Only once the total is repaid will the papers be signed over to the consumer. So, if a consumer defaults on debt repayments and somehow the debt prescribes, the credit provider would lose their right to collect the finance amount. What they would not lose is their right to repossess their vehicle which the consumer is simply driving around in. Just something to keep in mind should the situation ever arise.
DEBT REVIEW DID YOU KNOW? While in debt review you will get a statement from your Payment Distribution Agent which shows your accounts and the payments made. They will also keep copies of the proof of payments in case they are ever needed. These statements can help you track your progress. You should save a copy somewhere safe. If you change your email address don’t forget to tell your Debt Counsellor and PDA so that you don’t miss these statements.
NCRDC3348 Marius Mostert
CAN I SEE YOUR
CERTIFICATE? If you are looking for help with your debt or if someone calls you to discuss dealing with debt, you should make sure they are qualified to give you advice. One way that you can do this is by asking to see their Debt Counsellors Certificate of Registration with the National Credit Regulator (NCR). Every NCR registered Debt Counsellor has one. They look like the certificate on the left. Simply ask whoever you are talking to about your debt situation, to show you theirs. It is good to do so because only a NCR registered Debt Counsellor is allowed to perform the functions of a Debt Counsellor (someone who counsels you about your debt situation and debt review). If they do have such a certificate check that it is up to date (right at the bottom in the middle) and if they do not have one then walk away as you may be getting advice from a scammer or an unqualified person. Don’t be shy: Ask to see their NCR Certificate!
The annual Debt review Awards gala was held on the 20th of October 2023 in Woodmead, Gauteng. The show was live streamed to thousands of people across South Africa via YouTube. The Debtfree Magazine team assisted others in organising and hosting the event. Here are some of the highlights from the event.
ABSA Workshop Even before the Debt Review Awards Gala, Debt Counsellors got to enjoy a linked event with ABSA. On the 19th of October 2023, ABSA held an in person workshop in Johannesburg at the ABSA Towers. Around 80 Debt Counsellors go to meet and spend time with the entire ABSA team. It is always good to put a face to the name in emails or a voice on the phone. After some time getting to know each other, it was time to dive into various procedural
matters and Debt Counsellors were walked through the various steps of ABSA’s process. Along the way there were many questions from those newer in the industry and those more experienced. Much of the discussion focused on ABSA’s new portal which Debt Counsellors can use to push and pull information from. If you would like to know more about the Portal ABSA are happy to share information about how you can get the most out of this exciting piece of software. Thank you to ABSA for making their venue available and being so active in engaging with Debt Counsellors and thanks for the lunch and refreshments too!
DC | CP Meet Up On the afternoon of the 19th, some guests then made their way to Nutun’s Sandton offices where they joined around 100 other Debt Counsellors, credit providers, PDAs, attorneys, representatives from the NCT and others for the DC|CP Meet Up. The idea was once again to allow those who work in different cities across SA to get together in person and spend some time
getting to know each other better. The beautiful Nutun building and the spacious auditorium allowed all who attended plenty space to dive deep into various industry hot topics. First Carl de Villiers of Nutun welcomed everyone and assured them of Nutun’s commitment to the debt review process. Then Anila Pillaye who heads up the debt review team made an exciting announcement in regard to Nutun’s brand new portal. Guests were given a preview of what the system can do. It is designed with both credit providers (who can use it to manage their debt review matters) and Debt Counsellors (to access information) in mind. After this, there was an enthusiastic panel discussion, featuring various industry role players who lead a busy discussion, into such topics as possible changes to Debt Counsellors fees (in particular the restructuring fee times) and the real cost of legal work for those in debt review. There was discussion about insurance and the risk to the industry due to the long outstanding update to PDA fees. With so many key industry people in attendance it was interesting to hear what is really going on in the industry. Special Thanks to NUTUN for hosting us at their beautiful venue and providing refreshments and snacks. We all had a great time.
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Visitors Meeting & After Awards Dinners Guests who travelled in to be at the event also had the opportunity to spend some additional time together on the evening before and of the Awards Gala. Everyone had a good time chatting and sharing their “war stories” at the restaurant spots. Special Thanks To Eddie of DCCP for helping look after our visitors in the evenings. It was a great way to spend the evenings.
THE AWARDS INDUSTRY PRESHOW
The Gala
Held on a Friday afternoon, 200 guests from across all parts of the industry gathered in person to enjoy the Awards Gala. We had representatives from the NCR, NCT, the various PDAs, the various banks and large credit providers and lots of local and Top 10 Debt Counsellors. Guest were treated to a little bit of a welcome scare by our resident human shaped bush. Be sure to catch some of the online clips of guests getting a skrik on our social media channels.
Online Guests This year the YouTube stream attracted more guests than ever with offices across the country tuning in for a little Friday afternoon fun. Many people got dressed up and enjoyed some snack and were able to be part of all the action this year.
Ai yai yai yai yai In a bit of an experiment with the effectiveness of Large Language Models commonly referred to as Ai these days, the opening words of the event were written (with some detailed prompts of course) by ChatGPT. These words were then fed into an Ai Avatar creator and Ai Zak was on hand to both amuse and terrify the guests.
Speeches After a warm welcome to the event from Verushka Gilbert of the DTIC the audience were commended for their ongoing efforts by Debtfree Editor and Debt Review Awards Founder Mr Zak King (the real one).
Then it was time to hear from consumers who had been through the process with the help of clients of Pioneer Debt Solutions. Next up was an exciting debt relief announcement by Nutun’s Capital Data team. Having shortlisted several clients who were over 60 they announced 3 clients whose debt with them would be settled in full. This has resulted in the saving of thousands and thousands of rands for these consumers who have loyally been sticking to the debt repayments for some time.
Congratulations to: Ms Audrey C (with National Debt Advisors) Mr Ronnie B (with Liberty 42) Mr Harry B (with DebtBusters) Their Debt Counsellors have been informed and arrangements have been made to assist these clients move closer to being debt free. Mr Trevor Bailey of the National Consumer Tribunal was one of the key speakers at the event and touted many of the new developments at the NCT which will make Debt Counsellors lives easier (incl a payment gateway and mobile phone access to their system). Trevor pointed to how the Awards are a testimony to the professionalism and service
that is being offered to consumers by Debt Counsellors, PDAs, the Regulator and credit providers. Moving to the “state of the Industry” address, Mr Saishen Krishnan “SK” of Hyphen PDA broke down some of the key industry goings on. He focused on several key improvements across the industry that benefit, consumers, credit providers and Debt Counsellors. Certain key changes to payments come into effect during October and these will greatly help the industry. SK has been at the forefront of pushing for many of these changes so it was nice to hear him speak first hand. While he did touch on ongoing challenges the PDA face (like fees and XXXX) the speech was optimistic and focused on how far the industry has come. PDAs now distribute a whopping R1.4 Billion a month from consumers back to their credit providers. Amazing. Well done to CollectNet, DC Partner, Hyphen PDA and iPDA for their hard work on behalf of consumers.
Associated Awards Each year the Debt Review Awards works with a number of industry role players to recognise efforts made in the industry. First up was Slipstream Technology and Mr Scott van Staaden. This year the winner of the Slipstream Technology Adoption Award went to PayPlan Solutions. Next were the ONE Significant Contribution to the Industry Awards. Here two special Red Piggy Bank Awards are given to those individuals making a significant contribution to the debt review industry. The audience were very happy to hear CJ of ONE announce that DCASA’s Vanessa Johst was the winner of the Significant Contribution to the Debt Review Process Award. She is well known as a hard working and generous person and helps organise all things DCASA including the AGM and Annual Conference. The Debtfree team were very proud that our editor Mr Zak King was recognised and received the ONE Significant Contribution to the Debt Review Industry Award this year. It was extra sweet that this happened at the event that he was helping run on the day. Well done Zak!
NEW Category & New Award For many years the legal side of debt review has not been recognised during the Awards even though the legal fraternity (for both consumers and credit providers) are hard at work daily handling debt review matters. This year Mr Benay Sager of the National Debt Counsellors Association and Head of DebtBusters handed out two certificates of recognition. The first went to DL Attorneys (who represent Debt Counsellors and consumers) and the second to Kemp & Associates who represent credit providers. It is hoped that one day there may be Awards in this new category. In a somewhat emotional speech Mr Sager then announced a new Award. The Nousheen Pore Award. Nousheen was a well known attorney who was vibrant and a real mentor to many in the industry and the Award in her name is aimed at encouraging others to do the same. Decided by an industry expert panel the very first Nousheen Pore Award went to Cornel van Heerden of VHT Attorneys.
Steve Rosenberg of the Debt Review Awards team presented the worlds longest and most boring speech explaining all the ins and outs of the Awards process. While most people fell asleep during this part, some stayed glued to the screens as he performed a rather cheeky progressive outfit change during the speech starting in a suit and tie transitioning to a bowtie and looking far more casual. Sneaky, but we see you Steve! There was also the chance to acknowledge our Auditors for the afternoon (and whole process) Moore SA, and in particular Mr Clifford Voux. Our thanks go out to Mr Barry Fuchs of Moore SA for his ongoing help and advice with the audit process each year. Thank you Moore SA.
PDA Awards This year DC Partner PDA were very excited to take home both awards in the PDA section being recognised by both credit providers and Debt Counsellors.
Credit Provider Awards ABSA went home with two Golden Piggy Bank Awards and a Certificate of recognition this year. They scooped up the Most Improved Debt Review Department certificate, the Award for Vehicle Finance Credit Provider and Banks: Secured Credit Other winners on the evening were Consumer Friend, Old Mutual, FinChoice, Nedbank and taking the Highest Rated Debt Review Department was African Bank.
Debt Counsellor Awards 55 Different Debt Counselling practices of all sizes were recognised in this year’s process. These were the hard working Top 10 in the Boutique, Small, Medium, Large and National categories and the Top 5 in the National + category. This year the largest category (traditionally called “National”) was split for the first time since 2016 into: (a) National Debt Counselling Practice; and (b) the new National + category. The highest rated practices this year were: Boutique| Debt Solutions Small| Master Your Money Medium | Debt Fresh Large| Credit Matters National | Octogen National + | DebtBusters Congratulations to all those recognised!
Time To Chat After the live stream ended the guests at the venue enjoyed some delicious snacks and some time to mingle and network. The organisers want to thank the staff and owners of The Tryst for hosting the event at their wonderful venue.
We want to thank all our Sponsors and Supporters who helped make the process possible during 2022- 2023. Your contributions and
support make it possible to run the process throughout the entire year and organise the Debt Review Awards Gala and Online Show.
CONGRATULATIONS The Debt Review 10 year Awards 2023, an afternoon where the debt review industry’s finest gathered to celebrate excellence and commitment, and where innovation met tradition and created unforgettable memories. The Debt Review Awards 2023 was more than just an event; it was a testament to the unwavering commitment of professionals who have dedicated themselves to the betterment of South Africans in financial distress. Debt Counsellors, creditors, payment distribution agencies, and insurance companies converged at the prestigious The Tryst in Woodmead, to witness an afternoon of recognition, celebration, and a shared commitment to changing lives for the better. A big congratulations to all the nominees for the Debt Review Awards. Your nomination is a remarkable achievement, reflecting your commitment to excellence in the debt review industry.
To the winners, a resounding applause for your exceptional dedication and expertise. Did you visit the iPDA photo booth? Attendees had the chance to step away from the traditional awards ceremony atmosphere, sharing laughs, smiles, and making memories with colleagues and industry leaders. If you were fortunate enough to experience the iPDA photo booth, it’s not just a set of pictures, but a collection of cherished memories. We encourage you to share your experience on LinkedIn and tag iPDA as well as the Debt Review Awards team. The Debt Review 10 year Awards 2023 was not just a celebration; it was a testament to the industry’s dedication and a call to action for a brighter financial future for all South Africans. Congratulations to all the nominees and winners, and thank you to the Debt Review Awards Team for making it all possible.
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NCRDC19
WHAT DO DEBT COUNSELLORS
EARN?
WHAT DO DC’S EARN
DEBT REVIEW
FEES...
You may wonder what a professional, NCR registered Debt Counsellor earns each month as they assist consumers on the road to financial recovery. With the National Credit Regulator (NCR) looking at the fees that are charged for debt review Debtfree Magazine wondered about the other side of the fee’s issue, not at what consumers are paying but what Debt Counsellors are earning. According to Stats SA, in South Africa the average salary is currently R26 000/month (before tax). That’s roughly R325/hour. Now remember that an average takes into account the very highest earning individuals in SA as well (and they earn…a lot) but interestingly excludes agricultural workers according to the Stats SA report. Still, it does give some idea of whether Debt Counsellors earn above or below the middle ground in SA.
WHAT DO DC’S EARN
OUR
SURVEY In our survey we asked Debt Counsellors about (1) the newest junior Debt Counsellors, (2) ones who have been working for some time and then (3) the original owner or most senior Debt Counsellor at their practice. Smaller Debt Counsellor practices tend to pay all their bills first (incl. for a support staff member or two) and then take what is left over each month. Those monthly bills would include rent, electricity, computers, IT support, advertising, maintenance, office supplies etc. Many times, Debt Counsellors working in a group will earn some additional commission if the client sticks with the process for a longer time and this is then factored into the replies we got from those working in a larger practice.
70% of respondents worked alone while 30% work with other Debt Counsellors as part of a bigger team or practice. Some Debt Counsellors noted that they only take on a very small number of clients a month (eg 3) even though they have been in practice for many years. They then use funds coming in from these new clients to cover the costs of running their monthly expenses in their practice. This meant that they themselves take hardly any funds home themselves. Among these Debt Counsellors around 10% take home less than R5000 a month.
WHAT DO DC’S EARN
JUNIOR DEBT
COUNSELLOR Fresh off doing the NCR National Credit Act course these are brand new Debt Counsellors who have just registered with the Regulator and begun working in the industry. They may practice on their own or have been working at a larger practice in a support capacity and now qualified as Debt Counsellors themselves.
R5000
30%
Above R5000 – R10 000
50%
Above R10 000 – R15 000
10%
More
5%
No Junior DCs in our practice
5%
The majority of Debt Counsellors (80%) in this category earn under or close to R10 000 a month. This translates to less than R63/hour.
WHAT DO DC’S EARN
MID-LEVEL DEBT
COUNSELLOR These Debt Counsellors now have some experience in the field and have been in practice for a few years. R5000
15%
Above R5000 – R10 000
25%
Above R10 000 – R15 000
25%
Above R15 000 – R20 000
25%
More
5%
No Midlevel DCs in our practice
5%
The majority of Debt Counsellors in this category (50%) earn between R10 000 and R20 000 a month with only a tiny handful earning more.
WHAT DO DC’S EARN
SENIOR DEBT
COUNSELLOR Statistically speaking* perhaps only 15% of the most senior Debt Counsellors in the entire industry earn above the National Average wage while around 85% earn below it. R5000
10%
Above R5000 – R10 000
25%
Above R10 000 – R15 000
20%
Above R15 000 – R20 000
10%
Above R20 000 – R25 000
20%
Above R25 000 – R30 000
5%
More
10%
We even see some very senior Debt Counsellors only taking home R5000 a month despite being in the industry for many years. This means they must have other forms of employment helping them cover their own costs. Tragically their years of experience are spent helping only a handful of consumers. * BASED ON THIS SURVEY
The NCR will be discussing debt review fees in the months ahead but there has as yet been no indication that any detailed research has been done at CIF level in regard to the amount of time (hours) it takes to assist a consumer through debt review nor what Debt Counsellors actually earn across the country.
DEBT REVIEW Did You Know? When you enter debt review your statements from your credit providers might not 100% match the statement you get each month from your Payment Distribution Agent (PDA). This is because the statements from the PDA show a rough calculation. Credit Provider statements might also be showing the incorrect balances if they have not adjusted their computer system to match your debt review.
Congratulations to all the winners at this year’s Debt Review Awards facebook.com/groups/allprodc www.allprodc.org
Debt Counsellors Collective Congratulations to all the winners at this year’s Debt Review Awards
Email: Alanm@moneyclinic.co.za
Welcome to our world of
efciency and automation
Congratulations to all the winners at this year’s Debt Review Awards Regional Meeting Free State - 10 Nov Gauteng - 14 Nov KZN - 10 Nov W Cape - 14 Nov email: dcasa@dcasa.co.za
www.dcasa.co.za
NDCA are ready to help consumers who are struggling with debt. Visit our site for more information. ndca.org.za
Tel: +27 12 140 0602 Email: info@collectnetpda.co.za Web: www.collectnetpda.co.za
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THE NCR WANT TO CHANGE FEES TO DRIVE BETTER CONSUMER AND DEBT COUNSELLOR BEHAVIOUR
In 2018 the NCR made a fee adjustment that slightly increased the fee cap for rich clients and changed the legal fee from always being in the 2nd month of debt review to an undefined month when the legal work on the restructuring court case was complete. Now 5 years later, the NCR have initiated a sub committee at the Credit Industry Forum (CIF) to once review debt counselling fees. While all fees are up for discussion, of primary focus to the NCR are restructuring fees and legal fees. The NCR say they are worried that consumers are paying high legal fees for cases that go to the National Consumer Tribunal (NCT). They also worry that people are dropping out of debt review and want them to stay in the process. They worry that some consumers are in debt review but claim they did not want to be. They also have concerns that they get complaints that some Debt Counsellors are not doing all the work they are meant to.
Credit providers once decided they want to get payments by month 3 of the process and would not wait longer. So, when fees like reckless lending or larger legal fees disrupt that they become frustrated and complain to the NCR (note that in many collections processes credit providers wait for years to collect money). Credit providers find it hard to make their computers stop adding fees and interest each month. When debts then grow (on paper at least) their accounting departments get stressed.
Key issues with Fees: Consumers find it hard to understand the current fee guidelines. They are vague and not user friendly. Credit providers (particularly asset finance) want money now and not after a few weeks. In particular Credit Providers fixate on payments in month 3. Debt Counsellors get paid 50% of their total fees upfront because consumers often drop out of the process even though they do everything in their power to assist these consumers. This is not related to fees. Debt Counsellors realistically need a little more funds from each matter to stay in business due to the increased workload and inflation (last reviewed 5 years ago). Past changes did not address new additional work that is commonly done on every single debt review matter. There are missing fees that should be added (eg. transferring, clearance certificates, new legal
work, maybe even annual reviews) Attorneys are not interested in the NCR’s opinions on their fees and trying to impose on them indirectly may not make a difference to what they require in fees. Not knowing when legal fees will go off (as per the current fee structure) makes calculating and making proposals impractical so most people just ignore the current official fee structure timing and allocate legal fees in month 2 anyway. VAT also plays a factor in pushing payments over into the following month. Consumers have to pay for legal fees on every debt review due to the 2009 NCR declaratory order saying all matters must go to court. The NCR worry some Debt Counsellors take fees but do not actually do the work and consumers then struggle to get refunded and are stuck under a debt review “flag” on the credit bureaus. Debt Counsellors constantly feel they are not adequately consulted in the fee process. Not all Debt Counsellors are represented at CIF. Little market research has been conducted recently in regard to how many hours it takes to do debt review or what Debt Counselling actually costs to do (on average). The Courts do not put much stock in a non binding opinion on fees from the NCR (a guideline) since nothing has been issued by the DTIC or Minister.
Changing the Restructuring Fee How do you stop people dropping out of debt review? How do you force lazy Debt Counsellors to be more effective? The NCR feel that perhaps charging the consumer the restructuring fee, split up over several months might keep consumers in debt review. They also hope it encourages Debt Counsellors to pester the clients into staying in the process so that they will get paid. One idea was to split up the current restructuring fee (which accounts for half the fees most consumers ever pay) to be over many months (eg.5 months).
PROS
CONS
• Credit providers will get a little more money sooner.
• Changing when the fee is paid does not alter when all the work is done. The majority of the initial work is done in the first 60 days.
• Consumers may be happier they can see payments going to their debts right away. This may help keep them in the process. • Credit providers and their collections agents might be less motivated to lie to consumers about the process “not working”
• Most smaller to medium Debt Counsellors will go out of business due to cashflow issues. • Consumers who are not committed to the process will still drop out of the process and now Debt Counsellors will only receive 1/5th of what they did from these consumers before for the same amount of work. • If lazy Debt Counsellors felt unmotivated before for 50% of their fees before they may feel even less motivated for 10% in month one and may want to wait several months before doing any real work on the case. With less money on the line the consumer can only recover less money if they get bad service but will still then have the same “trapped” debt review status and not have access to more credit.
Legal Fees Due to a 2009 court case ruling, all debt review matters need to go to court. Despite this the wording of the National Credit Act has never been amended from ‘may’ to ‘must’. Having the matter set before a court protects the consumer from the credit provider starting new legal action while the restructuring is ongoing (they can actually start legal action anyway but the consumer can then ask the new court to force them to go back to the debt review court instead). This legal process of getting a restructuring court order protects the consumer from what is known as Section 86(10) “terminations” and this protection lasts until the court order is actually achieved. Then the credit provider, ironically, can just cancel their participation in terms of NCA Section 88.3 and new legal battles have to be fought. All of this, wasted effort results in more legal fees which the consumer does not have since their finances have been restructured. The NCR know they cannot tell Attorneys what to charge and when to charge it. Still, they want to tell Attorneys what to charge and when to charge it and so are still planning to issue a guideline about such fees once again.
So Why Do It? Financially stressed consumers deserve affordable, quality help. No one wants them over paying. The NCR are concerned that consumers are being represented by attorneys at the National Consumer Tribunal (NCT) and are thus paying lots of funds. They would prefer that Debt Counsellors do this instead and charge the consumers less. This would be a saving for the consumer. Still the wording of the National Credit Act leaves some concern about which matters can or cannot go before the Tribunal. The NCT have issued statements encouraging Debt Counsellors to make use of their services when all the credit providers quickly agree to the repayment plan (proposal). Even where credit providers are fighting against the proposals made by NCR registered Debt Counsellors and the matter has to go to court, the NCR feel that in some circumstances the fees attorneys charge to defend such matters are too high. This can result in credit providers having to wait longer to get payments on accounts (accounts that just weeks before were getting no payments of intermittent payments anyway).
PROS
CONS
• The NCR get to share their opinion on fees. Some Debt Counsellors might pressure their attorneys to follow the guideline.
• The NCR has no standing to issue fee guidelines to Attorneys. Attorneys already say they charge too little for such matters.
• Lower attorney’s fees may mean credit providers get money a little sooner. • Lower legal fees might also mean a consumer could be debt free a month or two sooner.
• Cheaper legal defence generally means weaker or just plain bad legal defence. (e.g. Do you want a brain surgeon who charges R100 per surgery in his back room… suspicious… Maybe rather go for the professional one who charges proper rates). • Legal work is currently needed because credit providers able to turn down proposals. This means the process can quickly turn legal. Changing fees does not address this credit provider behaviour. • The NCR does not want one consumers fee amount to offset another consumer’s fee amount. This means there is little incentive for Attorneys to help consumers with little money available to repay debt each month. This could create backwards pressure for Debt Counsellors not to help such vulnerable consumers at all.
Using Fees To Try Address Complaints The NCR Complaints Department receives complaints from many consumers (they don’t get calls from the successful clients thanking their Debt Counsellors). Many of these complaints relate to consumers not getting the service they expected. This can be because of poor communication, unrealistic expectations or lazy Debt Counsellor service. Some consumers are unfortunately tricked out of debt review by nasty collections people who cause them to doubt the process. Others see adverts from big banks saying bad things about debt review and then want to change their mind. Banks commonly complain if they have to wait for money to come in due to fees charged. Especially is this true with consumers who can only afford small repayment amounts. They would prefer to sue such consumers, claim insurance, sell on the debt and move on. Instead they have to wait months due to the process having to go to court. This makes the accountants unhappy. While normally complaints of this nature by consumers would be best handled through investigation or referring to the right ombud etc changing the fees might be a way for the NCR to try force willing, well behaved Debt Counsellors to carry on doing the work they are already doing anyway but now with poor legal representation for clients and a lot more risk.
Poor performing Debt Counsellors however are not likely to be incentivised by these fee changes to change their behaviour and the NCR will still have to respond to consumer complaints about them. Some lazy Debt Counsellors give consumers misleading information or do not disclose the all the facts about being under debt review. Surely this behaviour (not fees) should also be closely investigated, which will then decrease the number of complaints at the Regulator. There are however some concerns. Consumers may find that with less Debt Counsellors around (since many will just go out of business due to staggering restructuring fees) they have less choice and access to help. Lower income clients may be cut out of the process entirely due to financial viability. It seems that if these fee changes are indeed aimed at changing the behaviour of lazy Debt Counsellors and under committed consumers who drop out of the process, sadly none of those issues are actually being fixed by making the rumoured proposed changes. The NCR must acknowledge that a guideline is generally used by those who willingly show good faith and not by those who want to abuse the process. As the courts have pointed out on several occasions in the past, a guideline or non binding opinion is simply non binding. Thus a fee guideline will not adjust the behaviour of abusers or provide an effective means to punish them.
Consumers should be urged to lay criminal cases against such individuals and the NCR should refer such matters to the appropriate Ombud or Tribunal. Attorneys, will still demand to be paid before the work is done as they do with all their other cases. Still, it is early days and the CIF will hopefully consider all proposals so, Debt Counsellors are encouraged to send proposals on fees (incl. missing fees) to their Debt Counsellor Associations and to the NCR for consideration at CIF. And let’s just take a quick moment of silence to mention the PDAs whose fees still have not been reviewed even though they are now running at unsustainable levels due to disputes and a poor fee structure. Pity they don’t have a CIF Sub Committee.
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Debt doesn’t have to weigh you down.
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debt therapy is registered with NCR | NCRDC49
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Drastically reduce your monthly debt repayments Let US help 0861111863 Regain control of your finances NCRDC49 www.debt-therapy.co.za
GAUTENG
NCRDC3042
Credit Matters South Africa’s Leading Debt Counsellors NCRDC533 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za
Do you want to take the first step to become DEBT FREE? Get started today by reducing your monthly debt repayments into one affordable payment.
021 204 4711 068 279 5951 info@debteezy.co.za www.debteezy.co.za
Start your Debt Free journey today
SMS DEBT TO 30132 and we will give you a call!
NCRDC1142 Tel: 087 701 9665 Email: help@zerodebt.co.za www.zerodebt.co.za
NCRDC3348 Marius Mostert
www.pioneergroup.co.za
CTRL
DEBT
DELETE
One on one confidential counselling and advice to help you reduce and clear your debts. 261 Surrey Avenue, Randburg, Gauteng 011 100 7192 enquiries@ctrldebtdelete.co.za www.ctrldebtdelete.co.za NCRDC2051
National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za
We pride ourselves for excellence and integrity
Ericah Mtshali NCRDC4049 ericah@mandisam.com 076 578 8660 www.mandisam.com
GAUTENG
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tlcdebt@mweb.co.za 016 100 8020 079 520 4369
NCRDC2484
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NCRDC1142 Tel: 087 701 9665 Email: help@zerodebt.co.za www.zerodebt.co.za
KWAZULUNATAL NCRDC3042
Credit Matters South Africa’s Leading Debt Counsellors NCRDC533 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za
Do you want to take the first step to become DEBT FREE? Get started today by reducing your monthly debt repayments into one affordable payment.
021 204 4711 068 279 5951 info@debteezy.co.za www.debteezy.co.za
BSITE | www.debt-therapy.co.za
debt therapy
integrity guaranteed
debt therapy is registered with NCR | NCRDC49
Start your Debt Free journey today
SMS DEBT TO 30132 and we will give you a call!
Drastically reduce your monthly debt repayments Let US help 0861111863 Regain control of your finances NCRDC49 www.debt-therapy.co.za
National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za
NCRDC3348 Marius Mostert
www.pioneergroup.co.za
SCARED OF ANSWERING YOUR CALLS?
Credit Matters South Africa’s Leading Debt Counsellors NCRDC533
14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za
NCRDC1142 Tel: 087 701 9665 Email: help@zerodebt.co.za www.zerodebt.co.za
FREE STATE
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Take the first step to financial freedom by visiting our :
WEBSITE | www.debt-therapy.co.za NCRDC2484
debt therapy Debt doesn’t have to weigh you down.
integrity guaranteed
debt therapy is registered with NCR | NCRDC49
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0861 365 910 www.debtbusters.co.za info@debtbusters.co.za
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National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za
Start your Debt Free journey today
SMS DEBT TO 30132 and we will give you a call!
NCRDC3348 Marius Mostert
www.pioneergroup.co.za
SCARED OF ANSWERING YOUR CALLS?
Credit Matters South Africa’s Leading Debt Counsellors NCRDC533
14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za
NCRDC1142 Tel: 087 701 9665 Email: help@zerodebt.co.za www.zerodebt.co.za
LIMPOPO
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Take the first step to financial freedom by visiting our :
WEBSITE | www.debt-therapy.co.za NCRDC2484
debt therapy Debt doesn’t have to weigh you down.
integrity guaranteed
debt therapy is registered with NCR | NCRDC49
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0861 365 910 www.debtbusters.co.za info@debtbusters.co.za
Drastically reduce your monthly debt repayments Let US help 0861111863 Regain control of your finances NCRDC49 www.debt-therapy.co.za
National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za
Start your Debt Free journey today
SMS DEBT TO 30132 and we will give you a call!
NCRDC3348 Marius Mostert
www.pioneergroup.co.za
WEBSITE | www.debt-therapy.co.za
debt therapy
integrity guaranteed
debt therapy is registered with NCR | NCRDC49
Drastically reduce your monthly debt repayments Let US help 0861111863 Regain control of your finances NCRDC49
MPUMALANGA
NCRDC1142 Tel: 087 701 9665 Email: help@zerodebt.co.za www.zerodebt.co.za
www.debt-therapy.co.za
NCRDC2484
Debt doesn’t have to weigh you down. One consolidated payment. Savings on interest rates. More cashflow. Let’s get it sorted!
0861 365 910 www.debtbusters.co.za info@debtbusters.co.za
Credit Matters South Africa’s Leading Debt Counsellors NCRDC533 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za
National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za
Start your Debt Free journey today
SMS DEBT TO 30132 and we will give you a call!
NCRDC3348 Marius Mostert
www.pioneergroup.co.za
Credit Matters South Africa’s Leading Debt Counsellors NCRDC533
SCARED OF ANSWERING YOUR CALLS?
14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za
NCRDC1142 Tel: 087 701 9665 Email: help@zerodebt.co.za
Take back control of your life in 1 easy step! www.zerodebt.co.za
FREE CALL | 0800 20 47 28
NORTH WEST
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WEBSITE | www.debt-therapy.co.za NCRDC2484
debt therapy Debt doesn’t have to weigh you down.
integrity guaranteed
debt therapy is registered with NCR | NCRDC49
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0861 365 910 www.debtbusters.co.za info@debtbusters.co.za
Drastically reduce your monthly debt repayments Let US help 0861111863 Regain control of your finances NCRDC49 www.debt-therapy.co.za
National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za
Start your Debt Free journey today
SMS DEBT TO 30132 and we will give you a call!
NCRDC3348 Marius Mostert
www.pioneergroup.co.za
SCARED OF ANSWERING YOUR CALLS? Credit Matters South Africa’s Leading Debt Counsellors NCRDC533 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za
NCRDC1142 Tel: 087 701 9665 Email: help@zerodebt.co.za www.zerodebt.co.za
NORTHERN CAPE
Take back control of your life in 1 easy step! FREE CALL | 0800 20 47 28
Take the first step to financial freedom by visiting our :
WEBSITE | www.debt-therapy.co.za NCRDC2484
Debt doesn’t have to weigh you down.
debt therapy
integrity guaranteed
debt therapy is registered with NCR | NCRDC49
One consolidated payment. Savings on interest rates. More cashflow. Let’s get it sorted!
0861 365 910 www.debtbusters.co.za info@debtbusters.co.za
Drastically reduce your monthly debt repayments Let US help 0861111863 Regain control of your finances NCRDC49 www.debt-therapy.co.za
National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za
Start your Debt Free journey today
SMS DEBT TO 30132 and we will give you a call!
NCRDC3348 Marius Mostert
www.pioneergroup.co.za
SCARED OF ANSWERING YOUR CALLS?
Credit Matters South Africa’s Leading Debt Counsellors NCRDC533
14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za
NCRDC1142 Tel: 087 701 9665 Email: help@zerodebt.co.za www.zerodebt.co.za
EASTERN CAPE
Take back control of your life in 1 easy step! FREE CALL | 0800 20 47 28
Take the first step to financial freedom by visiting our :
WEBSITE | www.debt-therapy.co.za NCRDC2484
Debt doesn’t have to weigh you down.
debt therapy
integrity guaranteed
debt therapy is registered with NCR | NCRDC49
One consolidated payment. Savings on interest rates. More cashflow. Let’s get it sorted!
0861 365 910 www.debtbusters.co.za info@debtbusters.co.za
Drastically reduce your monthly debt repayments Let US help 0861111863 Regain control of your finances NCRDC49 www.debt-therapy.co.za
National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za
Start your Debt Free journey today
SMS DEBT TO 30132 and we will give you a call!
NCRDC3348 Marius Mostert
www.pioneergroup.co.za
NCRDC2484
Debt doesn’t have to weigh you down. One consolidated payment. Savings on interest rates. More cashflow. Let’s get it sorted!
0861 365 910 www.debtbusters.co.za
National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za
info@debtbusters.co.za
WESTERN CAPE Capes Independent Debt Advisors
Start your Debt Free journey today
SMS DEBT TO 30132 and we will give you a call! We’ll Create A Plan To Get You Out Of Debt
debt@cida.org.za 087 265 8748 065 874 7942 www.cida.org.za
NCRDC3348 Marius Mostert
www.pioneergroup.co.za
Credit Matters South Africa’s Leading Debt Counsellors NCRDC533 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za
NCRDC1142 Tel: 087 701 9665 Email: help@zerodebt.co.za www.zerodebt.co.za
Drastically reduce your monthly debt repayments Let US help 0861111863 Regain control of your finances NCRDC49 www.debt-therapy.co.za
NCRDC3042
Do you want to take the first step to become DEBT FREE? Get started today by reducing your monthly debt repayments into one affordable payment.
021 204 4711 068 279 5951 info@debteezy.co.za www.debteezy.co.za
WESTERN CAPE
SUPPORT SERVICES
Tel: 012 346 1081 eMail: info@mfsa.net www.mfsa.net
TRAINING
Octavia Hlatshwayo 084 032 7640 octavia@olwazini.co.za Mpumalanga | Regus Business Centre Nelspruit 11 Van Der Merwe Street | Mbombela www.olwazini.co.za @olwaziniskillsdevelopment Training Provider Accreditation Number: BANK-Ozswn190123
Credit Life
Insurance
086 126 6562 debt@one.za.com www.one.za.com
You make money, your clients save money 087 109 1164 info@dccp.co.za www.dccp.co.za
INSURANCE BEST RATES IN THE INDUSTRY
50979
ONE Insurance Underwriting Managers (Pty) Ltd Reg No. 1996/008987/07. Authorised Financial Services Provider FSP8783 VAT No. 4370160501 Products underwritten by Old Mutual Alternative Risk Transfer Limited, a licensed Life Insurer.
LEGAL
Our experienced and passionate team offers comprehensive legal services, including debt counselling, to meet all your legal and financial needs.
(021) 200 5644 info@debryunlegal.co.za www.debruynlegal.co.za
Liddles & Associates
“If you do what you’ve always done, you’ll get what you’ve always gotten.” - Tony Robbins
(T) +27 87 138 3275 (E) quintin@liddlesinc.com www.liddlesinc.com
Steyn Coetzee Attorneys / Prokureurs Adri de Bruyn 11 Market Street / Markstraat 11, Paarl, 7646 Tel: 021 872 1968 Fax: 021 872 2678 adri@steyncoetzee.co.za
RM Brown and Associates 16th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 021 202 1111, f: 021 425 0875 Email: roger@rmbrown.co.za
CONTACT Jus�n �an Der Linde 1st Floor Icon House 24 Hans Strijdom Street Cape Town 8001 079 6977 259 jus�n��dla�orneys.co.za
Assisting small to large debt counselling businesses with their legal applications on a National Scale. We pride ourselves on personal attention and service excellence. Levesh Govender Tel: 071 364 1475 eMail: levesh@lglaw.co.za
Accountability Group wendy@accountability.co.za
Bitventure Consulting compliance@bitventure.co.za
CREDIT BUREAUS
Get your Credit Report Here
Blue Oak Systems enquiry@blueoak.co.za
Cession Central For Credit Bureau Services for Debt Counsellors contact sumein@vccb.co.za 087 150 3601 087 803 4798 www.vccb.co.za
admin@cession.co.za
Clearscore regulatory@clearscore.co.za
Clicknhire christiel@clicknhire.co.za
Consumer Profile Bureau marina@cpbonline.co.za
Credit Gateway compliance@creditgateway. co.za
Credit Bureau Association
Cred-IT-Data Online Holdings bureau@creditdata.co.za
South African Fraud Prevention Service NPC
CreditWatch marina@cpbonline.co.za
info@cba.co.za www.cba.co.za 011 867 2234 maigoshians@safps.org.za www.safps.org.za
CrossCheck Information Bureau marina@crosscheckonline. co.za
Effective Intelligence sardagh@e-intelligence.com
Managed Integrity Evaluation
ThisisMe juan@thisisme.com
marelizeu@mie.co.za
Fides Cloud Technologies
Maris IT Development
craig@fidescloud.co.za
marius@marisit.co.za
Finch Technologies chris@finchinvestments.co.za
TPN Group
National Validation Services
michelle@tpn.co.za
Trans Africa Credit Bureau clintonc@transafricacb.co.za
info@nvs-sa.co.za
I-Bureau Services abrie@ibureau.services
IDR South Africa
Octagon Business Solutions
sonya@ifacts.co.za
DavidD1@tcriskservices.co.za
gregb@octogon.co.za
shane@v-report.co.za
iFacts
Transaction Capital Credit Health
VeriCred Credit Bureau Omnisol Information Technology info@verifyid.co.za
sumein@vccb.co.za
WeconnectU johann@weconnectu.co.za
Inoxico support@inoxico.com
Payprop Capital johette.smuts@payprop.co.za
Zoia Consulting sipho@dots.africa
Kudough Credit Solutions
PBSA seanb@PBSA.CO.ZA
chrisjvr@kudough.co.za
Right Cover Online Lexisnexis Risk Management kim.bastick@lexisnexis.co.za
Lightstone
cto@rightcover.co.za
Searchworks 360 skumandan@searchworks360. co.za
chrisb@lightstone.co.za
Loyal1 tshepiso@loyal1.co.za
Smart Information Bureau info@smartbureau.net
PAYMENT DISTRIBUTION AGENCIES
NCR Registered Payment Distribution Agency: NCRPDA2
COLLECTNET +27 12 140 0602
Hyphen PDA 011 303 0060
Tel: 044 873 4530 Email: pda@dcpartner.co.za
012 004 2888
SYSTEM PROVIDERS
Debt Counselling / Debt Review Completion Debt Review Clearance Certificates
Why Us? We pledge to deliver the utmost in client service and act with the highest standards of integrity. Visit our social networks for more information. info@ndrc.org.za www.ndrc.org.za NCR Registration No: NCRDC3106
FINWISE - INNOVATIVE DEBT M
MAXIMUS Tel: 011 451 0041 Tel: 0860 072 768
Debt Review Software Tel: 016 004 0031
South Africa’s premier debt management solution Tel: 044 873 4530 www.finwise.biz
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‘’ I was pleasantly surprised by our experien new system is intuitive and e Debt counsellor Eas
DEBT REVIEW NIMBLE GROUP
CONTACT DETAILS January 2022
Dear Debt Counsellors, RE: THE NIMBLE GROUP DEBT REVIEW CONTACT DETAILS AND ESCALATION PROCESS.
This letter serves to communicate to the Credit industry to use the following contact details for the Nimble Group when processing Debt Review related applications, enquiries, queries and, complaints escalation process. Kindly take note Nimble Group hereby consents to service all legal documents applicable to Debt review herein by way of email.
Email & Task Type
Contact Details
Forms 17.1 and 17.7
drcob@nimblegroup.co.za
Forms 17.2, Proposal Summaries, Cascade plans & Court orders
drproposal@nimblegroup.co.za
Forms 17.2 Rejection, 17.W & Form 19
drtermintation@nimblegroup.co.za
Forms 17.3, General queries, settlements, balance, refunds, statements, Paid up letter request & reckless lending allegations, payment allocation queries & Complaints
drqueries@nimblegroup.co.za
DEBT REVIEW INBOUND CONTACT NUMBERS:
1st line escalation
+27 87 250 5533 +27 21 8300 711
Aletta Tokollo Molelekeng Debt Review: Team Manager D: +27 11 285 7247 E: AlettaM@normanbissett.co.za
DEBT REVIEW ENQUIRIES ESCALATION MANAGEMENT ORDER CONTACT DETAILS Kindly note that escalations must only be done once you have sent your request to the above-mentioned contact email addresses and if your requests are out of SLA in lieu Debt Review forms response business days stipulated in the NCR Act.
Kind Regards,
2nd line escalation Denvor Rank Operations Manager: Process Recoveries O: +27 21 830 0750 (Ext. 6062) E: denvorr@nimblegroup.co.za
3rd Line escalation Zivia Koff Specialised Process Manager D: +27 21 492 4554 E: ziviak@nimblegroup.co.za
Denvor Rank Operations Manager: Process Recoveries
We trust this communication finds you well and that it will improve our service to you.
RE: CAPITEC COMMUNICATION CHANNELS AND ESCALATION PROCESS It is of utmost importance that debt review documentation is sent to the correct email address to ensure timeous feedback and action.
CAPITEC BANK CONTACT DETAILS
Further to the above, please ensure that only the channel email address applicable to the documents being submitted is used. Sending emails to multiple email addresses will result in a delay or even no feedback or action. Table 1: Debt Review communication channels 1
Channel Form 17’s
2 3
Proposals Court documents
4 5
Terminations General enquiries
6
Refund / Debit Order Cancellation requests
7
Insurance Certificates Substitutions and Certificates Reckless Lending Queries
8 9
Credit Insurance Claims
10
PDA Payment allocations Share Call Contact number
11
Description All Forms 17’s / Clearance Certificates All Proposals All Court documents (Notice of Motion’s / NCT applications / Orders) Termination queries General Debt Review Enquiries (inlcuding updated COB requests) Debt Review Refund Requests and Cancellation of Debit Orders
E-mail address ccsforms17@capitecbank.co.za
Insurance Certificates Substitutions and Certificates Allegation of reckless lending and document requests All credit insurance claims PDA payments received and allocated
insurancepolicies@capitecbank.co.za
ccsproposals@capitecbank.co.za ccsdebtrevieworders@capitecbank.co.za
debtreviewterminations@capitecbank.co.za ccsdebtreviewqueries@capitecbank.co.za ccsrefundrequests@capitecbank.co.za
ARL@capitecbank.co.za CreditInsuranceClaims@capitecbank.co.za ccsdebtreviewpaymentqueries@capitecbank.co.za 086 066 7783 Option 2
Table 2 contains our escalation process should you have not received feedback within SLA’s. Please ensure that the order of escalation is followed and refrain from sending your escaltion to multiple email addresses.
086 066 7783
Page 2 of 2
CAPITEC BANK ESCALATION CHANNELS Table 2: Debt Review escalation channels Order of Person Escalation Forms 17s, Court documents
Designation
E-mail address
Team Leader: Debt Review (Court Orders/Forms/Inclusions) Manager: Debt Review Manager: Process Recoveries
1 Jolene Pieters JolenePieters@capitecbank.co.za 2 Cindy Mauritz CindyMauritz@capitecbank.co.za 3 Carolina Visser CarolinaVisser@capitecbank.co.za Proposals 1 Meghan Bruiners Team Leader: (Proposals) MeghanBruiners@capitecbank.co.za 2 Cindy Mauritz Manager: Debt Review CindyMauritz@capitecbank.co.za 3 Carolina Visser Manager: Process Recoveries CarolinaVisser@capitecbank.co.za General Enquiries, Refund/cancellation requests, Termination queries, Updated COB’s, Payment queries 1 Nathan Slaverse Team Leader: Enquires Nathanslaverse@capitecbank.co.za 2 Carolina Visser Manager: Process Recoveries CarolinaVisser@capitecbank.co.za Insurance replacements 1 Mfundo Xaba Officer: Market Conduct MfundoXaba@capitecbank.co.za Oversight 2 Dries Olivier Manager: Market Conduct and DriesOlivier@capitecbank.co.za Oversight Reckless Lending Queries 1 Whitney Jardine Team Leader: Recoveries Risk WhitneyJardine@capitecbank.co.za Support 2 Zayaan Jurgens Manager: Recoveries Risk ZayaanJurgens@capitecbank.co.za Support Credit insurance claims 1 Grant Griffith Team Leader: Insurance GrantGriffiths@capitecbank.co.za Jessica Rademeyer Claims JessicaRademeyer@capitecbank.co.za Kanyisa Mbiza KanyisaMbiza@capitecbank.co.za 2 Brigitte October Performance Manager BrigitteOctober@capitecbank.co.za Insurance Claims Telephonic queries lodged 1 Laetitia Pretorius Team Leader: CCS Queries LaetitiaPretorius@capitecbank.co.za 2 Tracey Govender Manager: Recoveries TraceyGovender@capitecbank.co.za Administration
Sincerely, The Debt Review Team
086 066 7783
0861 111 525 For more information about the escalation process please contact the call centre
17.1, 17.2, Proposals, General correspondence: debtcounselling@africanbank.co.za To register for Legal Web Access: lwac@africanbank.co.za
debtcounselling@africanbank.co.za Reckless Lending investigations: RLA@africanbank.co.za
For more information about the ESCALATION PROCESS escalation process please contact DETAILS COMING SOON the call centre
0860 111 2265 For more information about the escalation process please contact the call centre
0861 005 901
ABSADebtReviewDoc
Authorised Financial Services Provider and a registered credit provider (NCRCP7) Absa idirect’s FSP 34766 Absa Insurance Company’s FSP 8030
cuments@absa.africa
debtreviewqueries@absa.co.za
DC QUERY PROCESS NEDBANK DRRS Debt Counselling Query Resolution Contact Points and Escalation Process
Email submissions (Level1) Email: DebtCounsellingQueries@nedbank.co.za
To be used as a first point of contact for all written communication
Call centre (Level 1: Alternative) Tel: 0860 109 279
To be used as a first point of contact for all telephonic communication
Attended to by Queries Specialist (Level 2: First Escalation) dcescalation1@nedbank.co.za
To be used only where no resolution is found from first point of contact after 5 business days
Attended to by Team Leader and Queries Specialist (Level 3: Second Escalation) dcescalation2@nedbank.co.za
To be used only where no resolution is found from the first escalation after 5 Business days
Attended to by Support and Escalation Manager (Level 4: Final escalation) nbdcescalations@nedbank.co.za
To be used only where no resolution is found from the second escalation after 5 Business days
www.nedbank.co.za
012 674 7000 For more information about the escalation process please contact the call centre
For updated consent to service documentation please contact the call centre.