DEBT MEDIATOR BUST
E XCE LL ENCE IS D OIN G ORD IN A R Y THING S
E XT R AO RD I N A RI LY W E L L
– John W. Gardner
CREDIT PROTECTION
CREDIT PROTECTION
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The following financial obligations or debt can be covered on the ONE Credit Protection Policy:
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• Personal Loans
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The following financial obligations or debt can be covered on the ONE Credit Protection Policy:
• Rental Agreement
• Credit Cards
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For further information please speak to your Broker, Debt Counsellor or alternatively contact your regional ONE office.
• Home Loans
• Retail Accounts
• Rental Agreement
• Maintenance Orders
0861 266 562 admin.debt@one.za.com Terms and Conditions Apply
For further information please speak to your Broker, Debt Counsellor or alternatively contact your regional ONE office.
FROM THE EDITOR
Congratulations to all those recognised at this year’s Debt Review Awards. This year, over 60 Debt Counsellors were recognised as members of the Top 10, Top 5 and those receiving awards.
Debt counsellors and those working at the credit provider debt review departments deserve a lot of respect and appreciation for what they accomplish each month. We are glad the Awards process helps shine a light on all that hard work.
The Awards really has been top of mind for most of our team recently. Each year members of the team and many other volunteers make it possible to announce the results of the industry peer reviews at a dignified Awards gala which is then livestreamed – we hope that you got to watch.
The event this year went very well, much to our collective relief and we circumnavigated the technical challenges and logistical aspects of the event successfully. It took some hard work but I thought the end result was great. My corny jokes and silly young people speak routine even got some laughs and hopefully made its point.
To the team and all who helped, as well as the sponsors who make the event possible each year, I want to personally say: Thank You!
With that in mind you will find a lot of content in this issue looking at the Awards. Naturally, we want to help share insights into the various speeches, results and all the action.
We also have a bucket load of news, some tips on dealing with debt and being in debt review and a look at an important ruling about who can offer debt restructuring services. This is important as a lot of people out there run around offering to help people with debt and sadly many of them are incompetent or blatantly scammers. This ruling puts them on notice.
We also talk a little about reckless credit (that’s credit granted to people who cannot afford it, don’t understand what they are signing up for or are not given all the required documentation when applying for credit). This is a topic we all need to know a little more about.
So, enjoy it. We hope this issue gives you all the information you need to continue on your journey to financial freedom. We hope you are entertained and informed and maybe even more motivated to continue to work hard to get debt free.
DEBT REVIEW SHOW ME YOURS...
When dealing with a Debt Counsellor you should always feel free to ask to see their NCR issued Certificate for the year. These certificates are issued annually and reassure you that the person you are talking to is registered with the National Credit Regulator.
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DEBT
DEBT REVIEW AWARDS SHOW
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
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DEBT MEDIATOR BUST
DEBT MEDIATOR BUST
YOU CAN’T DO
THAT!
Anyone offering credit must register as a credit provider with the National Credit Regulator (NCR) and are limited by the provisions of the National Credit Act.
But what about those offering to help people with their debt repayment problems? Do they have to register as Debt Counsellors?
Well, someone who was offering debt review like services while presenting themselves as a debt mediator just got fined R200 000 for breaking the law.
DEBT COUNSELLORS ARE PART OF THE
NATIONAL CREDIT ACT
South Africans have struggled with debt for many decades. More so as more and more credit providers have started operating. Nowadays most formally employed people have some form of credit and millions of people have fallen behind on payments.
In the past, before the National Credit Act was around there was a real need for someone to help consumers deal with their debts in a reasonable and responsible manner. But there was little help available.
Back then, indebted consumers had to represent themselves or call on the services of an expensive attorney to try deal with their credit providers. Because credit providers knew all the legal tricks and had all the money there was a real imbalance in power between consumers in debt and massive big banks and credit providers.
Then in 2007 everything changed. The National Credit Act came into effect and a new form of help called debt review and debt counselling became available to everyone. Credit providers were forced by law to set up entire departments to deal with consumers entering debt review and getting assistance through a Debt Counsellor.
DEBT MEDIATOR BUST
THE RISE OF DEBT MEDIATORS
Around 2007, banks and others who were afraid of debt review and debt counsellors tried to set up a parallel option called debt mediation and even funded a national debt mediation association to try divert consumers away from debt review.
Though later the banks saw the benefits of debt review they had set in motion a snowball that would grow over time.
Over the years more and more people have offered debt mediation services that are essentially an unregulated form of debt review.
Some people offering mediation are scammers who trick people into paying them for services they don’t ever intend to actually offer and others have made minimal efforts to negotiate with credit providers on their clients’ behalf.
DEBT MEDIATOR BUST
A 5 YEAR INVESTIGATION
In 2019 the NCR were receiving a lot of complaints about one such operation that was offering to help people get out of debt by consolidating all the debt repayments into a single monthly reduced debt repayment to their creditors monthly.
Lots of people had given money to this operation and in many cases the funds had not even been paid to the credit providers.
Interestingly the complaints were not about an NCR registered Debt Counsellor. Rather it would turn out (after investigation) that this operation was yet another one of many such debt mediation scams.
Recently the NCR took the matter to the National Consumer Tribunal and asked for a ruling on the operations of the debt mediator. Are they allowed to operate a parallel industry where the operators are not registered with the NCR and where matters are not sent to court?
DEBT MEDIATOR BUST
WHAT THEY SAY
THEY DO vs.
WHAT THEY DO
PROCESS
Ask consumers to complete an application form
Ask the consumer to cancel debit orders & make new payment arrangements
Ask the consumer to sign a Power of Attorney (POA)
Ask credit providers for information
Perform a review of the consumers debt
Negotiates with credit providers
Suggest a new debt repayment plan
Organise a single debt repayment (via a PDA)
Notifies the Credit Bureaus
Send matters to court to protect the consumer
Are registered with the National Credit Regulator
It is clear that such mediation services closely resemble almost all the functions reserved for Debt Counsellors in Section 86 of the NCA and Regulation 44.
As you can see from the advertising of Tryco Debt Management (who are the particular debt mediators in this case with the NCR) they offer services that closely resemble debt review.
MEDIATOR BUST
THE NCT RULING DEBT
The NCR brought the matter before the National Consumer Tribunal (NCT) this year.
Case Number: NCR vs TRYCO DEBT MANAGEMENT (PTY) LTD NCT314933-2024-Section 140(1)
After the NCR served papers on Tryco Debt Management (also known as Accord Debt Solutions on Facebook)* who never bothered to try defend themselves, the matter went before the Tribunal who looked at the services offered and compared them to those offered by Debt Counsellors.
The NCT found them to be the same, except perhaps for the fact that the consumer had no legal protection and Tryco was trying to operate without any oversight from the NCR.
The NCR also looked into how the consumers funds were supposedly to be distributed while under mediation and found that they had effectively held themselves out to be a Payment Distribution Agent (or to perform the functions of a PDA). Since PDAs have to also be registered with the NCR this was found to be illegal.
*We reached out to Pius of Tryco but he declined to give us any comment.
At the end of the matter, the NCT found in favour of the NCR and ruled that this debt mediator was offering unregistered debt review services. Services which can only be offered by a Debt Counsellor and PDA services which can only be offered by a registered PDA.
The Tribunal then considered a suitable fine (which could have been up to R1 million) and settled on R200 000 and ordered them to stop offering these services without registering with the NCR. They also said they should pay back all fees charged to their former clients. They also must appoint an auditor and give a full report on all fees charged and refunded.
This ruling seemingly finally answers the question of whether people can go around offering the services of a Debt Counsellor without actually being registered as one with the NCR.
DEBT MEDIATOR BUST
THE ADR LOOPHOLE
Several people who would like to offer debt mediation services to consumers (but do not want to register the consumer on the NCR’s database or with the credit bureaus) have tried to pose as Alternative Dispute Resolution Agents (ADRs).
In the case of Tryco Debt Management they were not even registered as an ADR with the NCR. Interestingly, the NCR did not pursue this side of things too much in the case. Most of Tryco’s offerings had to do with disputing credit reports. The NCR do not mind a consumer appointing an agent to dispute credit report information on their behalf. They did however point out that no person can charge up front for helping to clear or dispute information on someone’s credit record.
NOTE: Many people offering “get out of debt review” services and try to clear this information of the credit bureaus like to charge upfront and this is illegal.
The National Credit Act is however quite specific that such ADR Agents handle only ‘disputes’, and not payment problems due to over indebtedness. So, ADRs can handle balance disputes, payment history disputes, contract disputes, services not paid due to services not rendered etc but certainly not simply consumers struggling to repay debts and then helping restructure debt repayments. That would be the function of a Debt Counsellor.
Hopefully, this case is a R200 000 warning to anyone looking for loopholes.
MORE TO COME? LET’S HOPE
Does this mean we will suddenly see debt mediators disappear overnight, running scared and hiding from the NCR?
That is not likely.
You probably received a scam email today from someone pretending to be a credit provider, offering you loans even if you are “blacklisted” or something similar. These scammers abound.
So too, there are a lot of people out there who, much like dodgy loan sharks, are going around offering debt mediation or pretending they are an ADR and can help with debt restructuring.
Such scammers are taking peoples money and not offering them the real help that the National Credit Act offers: debt review and proper debt restructuring through the courts.
This does however mean that the NCR has finally opened the door to pursuing more enforcement against such unregistered individuals and companies. The net is finally beginning to tighten. Perhaps this is just the first of many such fines issued to debt mediators offering unregulated debt review.
DEBT MEDIATOR BUST
Why it matters to Debt Counsellors: Finally, some protection for the debt review and debt counselling industry. Debt Mediators outed as unregulated Debt Counsellors.
Why it matters to
Consumers:
A warning not to deal with debt mediators who act illegally offering debt review without being registered with the NCR.
DEBT REVIEW
IS THERE A STICKER BY THE DOOR?
If you are visiting the offices of a credit provider or Debt Counsellor you can check by the entrance way and make sure they have a sticker from the NCR with the NCR logo and their details on. This can help you spot a legitimate credit provider of Debt Counsellor and not fall for any loan sharks or debt mediator scams.
RECKLESS LENDING
RECKLESS LENDING & FACT CHECKING
CREDIT PROVIDERS CAN’T JUST BLAME CONSUMERS FOR NON DISCLOSURE
Many credit providers feel that if presented with an accusation of reckless credit granting, they can simply say that the consumer did not give them all the information they needed to make a proper decision about offering them credit.
Is this always true?
If a consumer asks for credit and then lies, perhaps providing fake information about their circumstances, they might be able to trick a credit provider into granting them credit that they actually can’t afford. That would hardly be the credit provider’s fault.
If a credit provider found a person to be lying like this, they would be well within their rights to turn down the consumers application for credit. Never lie to try get credit!
RECKLESS LENDING & FACT CHECKING
CHECKING THE FACTS
Rather than just relying on what a consumer says about their situation, the National Credit Act and regulations actually require credit providers to check the facts for themselves before granting credit. They can do so by checking credit bureau reports, salary slips, bank statement and even their own internal records (like if the consumer banks with them) to verify what the consumer has said.
RECKLESS LENDING & FACT CHECKING
MQ FINANCE VS L TERBLANCHE
A while back Mrs Terblanche approached Marquis Finance (MQ Finance) for vehicle finance to the tune of R1.2 Million for a Ford Ranger Raptor.
At the time, she was transitioning from her old job, after being retrenched, to another. Although she disclosed a smaller salary projection, the credit provider worked on averaged figures from her old employment and had no actual information about her new income.
They also reduced the amount she provided for monthly expenses (by a massive R9000) and even totally ignored the fact that she was married in community of property. All this happened without her realising.
As a result, after their assessment of her ability to repay, they offered her the credit and she began making repayments. Of course, she soon ran into financial strain and could not keep up repayments.
RECKLESS OR NOT?
When confronted by the allegation of having offered her reckless credit, MQ Finance disagreed and said that the consumer not having given them all the needed and accurate information.
They defended the math they had done and stood by their decision. When the matter went before the National Consumer Tribunal (NCT) they leaned on a complete defence in terms of NCA Section 81(4), effectively blaming the consumer for lying.
The hearing eventually revealed that they were, in fact, the ones who ignored the provided information and even though they could work out she would not have enough to keep up repayments they still granted her the credit.
The NCT then ruled that they should have checked her salary slips (which she did not have yet) and should not have ignored her being married COP. They ruled that the credit provider had not taken reasonable steps to verify information and the credit was granted recklessly.
As a result, they ordered the return of the vehicle and that the credit agreement was cancelled. They also issued MQ Finance a R100 000 fine to remind them to check the facts properly in the future.
Why it matters to Debt Counsellors:
Credit providers may try blame the client for not disclosing all information when applying for credit. This does not mean the credit was not granted recklessly.
Why it matters to Credit Providers:
Section 81(4) is not a strong defence if the information provided by the consumer was not properly checked.
Market Leading Payment Distribution Agency
DC Partner is a award winning payment distribution agency to the national debt industry.
Compliance: DC Partner is a NCR accredited Payment Distribution Agency, and adhere to strict security standards to ensure compliance and safe handling of debt review funds.
Efficiency: We streamlined processes for quick distribution of funds, saving time and resources for debt counsellors with our secure payment solutions.
BREAKING NEWS
OCTOGEN LAUNCH
One of the oldest (if not the oldest remaining) brands in debt review just moved offices. Octogen have now moved to 267 West Avenue, Die Hoewes Centurion.
They have also updated some of their branding and advertising styles to match their current approach to financial wellness.
Octogen recently held an open day for other Debt Counsellors, PDAs, credit providers and service providers and they invite anyone to come and visit their new home.
To set that up, simply email: info@octogen.co.za
LOW INFLATION FIGURES
OFFER HOPE OF RATE CUT
The annual consumer price inflation percentage has dropped to 3.8% (during Sept) for the first time in more than 3 years.
This occurred largely because of lower international rates for oil and its effect on transport. Food inflation rates also stayed pretty consistent at 4.7% and the averaged electrical increase sitting at 1.1%. The rand has also been doing well post elections and with all the chaos of the US elections pending.
What this means is that the inflation figures remain nice and snug within the lower end of the stated inflation target of the SARB Monetary Policy Committee (3-6%). It also points to a possible excuse for the MPC to make another small rate cut on November 21st.
It is likely they will not decide to make a massive cut due to the expected pressure on the Rand that will follow the outcome of the US elections and the building conflict in the middle east (which impacts on oil prices).
Lower interest rates generally mean a few more bucks in the pocket for those with big debts that they can then go instead spend in their local area, encouraging economic growth.
Marius Mostert
BIG BANKS FINED
The Prudential Authority have handed out a number of fines to big SA banks.
This is linked to efforts by government to get SA of the Financial Action Task Forces “grey list”.
The banks and fines are:
Sasfin Bank: R210 million fine
HSBC Bank: R9.5 million fine
Bidvest Bank: R5 million fine
State Bank of India: R10 million fine
Bank of China: R15.25 million fine
Recently, after a R60 Million loss, Sasfin decided to shut its Business and Commercial Bank (in 2025), this was after selling its Capital Equipment Finance and Commercial Property Finance business to African Bank for R3 Billion.
They now join 3 other big banks who are pulling out of operations in SA. HSBC is transferring its branch business to FirstRand Bank in 2025. BNP Paribas (which is the 6th biggest bank in the world) also recently decided to stop operating as a bank in SA (and other African countries) and Bidvest Group also recently decided to sell off its Bidvest Bank (and FinGlobal).
CAPITEC CONNECT
For the last 2 years Capitec has been offering mobile phone services to their clients. They now have 1.3 million active sim cards making use of their mobile virtual network which is through Cell C in the background.
Capitec currently also have a deal in place with Showmax for their clients to access the platform for only R22/month (or R34/month for the football option). They offer 5Gb of data for R145.
Capitec say they are now thinking about venturing into fixed line fibre (broadband internet).
Credit Life Insurance
Financial Gains, Client Savings: Collaborate for Success
What We Do
We specialize in providing Credit Life Insurance, Income Protection, and Funeral Cover services to debt counsellors, empowering them and their clients to have more. By referring their clients to us, we not only offer the highest referral fee in the industry, but also provide annuity streams to support their financial growth.
Why Partner With Us?
•Additional Revenue Streams
•Annuity Income
•Retention of Clients
•We take care of Administration
•Compliance Guaranteed
For Debt Counsellors
•A lucrative recurring monthly revenue stream
•Better chance of clients qualifying for debt review
•Little time and no effort – we do the work for you
•User friendly and efficient system
•Enhanced Service Offering
•No Medicals Required
•Continuous Training Provided
•DC Front-End System Integration
For Debt Counselling Clients
•Pay a lower premium for the same benefits – can save your clients thousands of Rands
•Convenience – a single policy covers all your clients’ credit agreements
•Claiming process easy and effortless and facilitated by DCCP
•New loans can be included under this policy
NCT REGISTRAR
After some considerable time as the ‘Acting Registrar’ of the National Consumer Tribunal (NCT), Mr. Prenesen Moodley has now been formally appointed to the role.
We wish him the best as he continues to work hard at the NCT and were very happy to see his (and Mr Bax Nomvete) hard work and efforts on behalf of the industry recognised at the recent Debt Review Awards.
1 MILLION CLIENTS?
DebtBusters recently announced that they have, over the years, now assisted an accumulative 1 million consumers with advice, credit reports, budgeting, debt review and more.
It is an amazing landmark and shows the large effect that debt counselling practices can have in helping consumers navigate their finances.
DC QUARTERLY REPORTS DUE IN NOVEMBER
Debt Counsellors are reminded that they are to hand in their statistical reports by 15 November 2024 for the period 1 July – 30 September (3rd Quarter).
The Form 42s (with your NCRDC number in the title) can be sent to dcreturns@ncr.org.za
Debt review is not easy but it is also not impossible. Hundreds of thousands of people have used the process to get out of debt and you can to.
If you would like to hear from some of the people who have successfully completed the process then you can check out this podcast which is all about debt review success:
www.debtreviewwithdummies.co.za
There are interviews with all sorts of people like:
• A Hard Working Single Mom
• A High Profile Businessman
• A Radio DJ
• Someone who fell for the “get out of debt review scams”
• Someone who took a really long time in debt review
• Someone who started a new job and things didn’t work out
Their success stories show that anyone can complete debt review if they just stick with the process and work closely with their Debt Counsellor. Why not give the podcast a listen and see how they did it?
CHECK YOUR STATEMENTS
When in debt review it is good to check your statements from your credit providers (maybe on your banking app) to see that payments you are making are reflecting.
Remember that when you first enter debt review some of your payments will be allocated to your Debt Counsellors professional fees month 1 and your Attorneys professional fees month 2. After that you should see a small retainer or aftercare fee going to the DC monthly and the rest to your creditors. The annual Debt Review Awards were celebrated on Friday, 18 October 2024.
The Awards
Each year the debt review industry gets together to celebrate hard work and excellence in the field of debt review. This happens at the annual Debt Review Awards.
The Awards are held each year in October, either in Cape Town, Jo’Burg or Durban and during the event the results of a yearlong industry peer review process are announced.
The Awards gala is preceded by several days of intense industry activity. This includes visits by Debt Counsellors and credit providers to one another’s offices and even visits from the Regulator and National Consumer Tribunal. On the day before the Awards a large workshop or mini conference is held so that various parties can network and share ideas on improving the debt review process.
Let’s look at what happened this year.
Associated Events
One of the goals of the Debt Review Awards is to help foster a desire to excel in the field of debt review. To go above and beyond the bare minimums and learn from the example of others.
One way this is achieved is by giving Debt Counsellors and credit providers the chance to meet and share best practice tips and advice.
This year credit providers and Debt Counsellors in Cape Town threw open their doors to visitors (local and from other cities who had travelled in).
Also visiting Cape Town at the time was the team from the National Consumer Tribunal (check out how fancy they all look in their Awards red carpet pics).
The NCT play a crucial role in the industry and are able to assist with consent orders for debt review (where all parties are happy with the restructuring plan). These very affordable orders are able to be achieved in lighting fast turnaround times due to their clever use of technology.
DRA & IPDA Conference
Each year, the Debt Review Awards aims to link credit providers, debt counsellors, PDA’s and service providers together in our associated events. This year, the workshop was co-hosted by iPDA.
If you weren’t at the Intuitive Conference ‘24, hosted at the scenic Cassia Restaurant on Nitida Wine Estate in Cape Town, you missed more than just a conference.
With its exciting F1 theme, this event brought together thought leaders and industry experts to explore the future of debt counselling in a setting that was anything but ordinary.
From the breathtaking views to the excitement of the F1 simulators, the energy was contagious. Attendees not only gained valuable insights from keynote speakers Dawie Roodt, Dewald Lindeque and Timmy van de Grijp, but they also had unique opportunities to connect with leaders shaping the industry. The day ended in celebration as International coach Gustav Gous, who inspired the audience with his talk on living purposefully, ended his session by spraying a bottle of champagne - F1 style!
A standout feature was the interactive panel discussion, where Corrie van de Venter led a dynamic format that encouraged intimate conversations at each table. Panellists Maya Fisher-French, Zak King, Goustav Gous, Timmy van de Grijp and Tiaan Hattingh shared key perspectives in a way that made attendees part of the conversation.
The F1 simulators weren’t just for fun-they brought out the competitive spirit of participants, creating memorable networking moments in a refreshing, unconventional way. Antonio Don took the lead with a winning time of 1:07.
We extend a heartfelt thanks to our sponsors, our team, and the esteemed guests who made this day truly special. Bringing together debt counsellors, industry experts and innovators to drive change in the debt counselling race.
Visit the intuitive website https://conference.intuitive.co.za/ to see all the photos, courtesy of our photographer Corrie Van De Venter
Feel free to download, share, and tag iPDA and the Debt Review Awards page!
While you’re there, please complete our survey, we would love to hear from you!
Industry Pre-Show
While the guests were arriving those who were able to watch online were treated to 2 hours of industry insights and chats. There were interviews with credit providers such as FNB and Consumer Friend as well as insights into recent industry developments from Saishen Krishnan of Hyphen PDA. SK discussed the recent debt review industry Indaba and the good results that came from this new endeavour which is aimed at helping industry members share best practice tips with one another.
There were also presentations from Nutun, Steyn Coetzee, iPDA, DebtPal and an excerpt from one of the recent in depth interviews with Herman at DC Partner PDA.
These were just some of the associated industry events this year. Thank you to everyone involved a lot of time, thought and effort went into making these very special events possible.
The Debt Review Awards Gala
This year the Awards gala was live streamed from the venue in sunny Durbanville, Cape Town.
Over 200 industry guests all dressed up and attended in person while thousands of others from across the country joined online, via YouTube.
Many offices invited their staff to dress up and join the fun. Some were nervous (as they were part of the Top 10 Nominees and were curious to find out if they had made Top 5 or even highest rated) and others were just having a great time celebrating their hard work. Some practices and companies even handed out their own awards on the day.
Some members of the Debtfree Magazine team were on hand to help out with the Awards.
The Venue
The venue this year was the D’Aria Wine farm situated in the lovely Durbanville Hills area. The weather cooperated and the guests were able to enjoy the sunny weather as they arrived on the red carpet.
Here are a few shots of everyone all dressed up and looking glam.
Best Dressed?
We know that guests coming to the Awards know there is a chance they will end up on the cover of the Debtfree Magazine in October as we celebrate the Awards.
Everyone looked great but perhaps the best dressed for the day were Timte and David. These two amazing Alpacas were the stars of the show and helped everyone relax and have a good time.
Thanks to Digital Orchestrators and DebtPal for making it possible to have these very special guests at the event this year. They put a smile on everyone’s faces and were so well behaved and friendly.
Welcome Drinks & Gifts
Generous sponsors such as DC Partner PDA and DCCP were on hand to provide welcome drinks and gift bags for those who attended.
It’s always nice to have a glass of something refreshing or sparkling in hand and the beautiful sunny day lent itself to taking a few moments to relax outside and chat to other guests.
Guests were also able to take a spin in the 360 Camera thanks to Datanamix. This resulted in some pretty crazy pics and videos with everything from Charlies Angles poses to karate kicks and more.
Vroom
Debt review is a fast paced industry with many twists and turns. Navigating these can be both challenging a rewarding. Tying in with the fun activities of the day before iPDA gave guests the chance to take a spin around the virtual track and try beat the fastest time previously set by Antoinio Don of Debt Therapy.
Debt Counsellors and credit providers alike are pretty good behind the wheel. Eddie Greef of DCCP took fastest time on Friday.
Now you know who to call if you need to get somewhere fast.
More Industry News Than Ever...
If you work in the debt review industry you may be hungry for news about finances, the local debt review industry and the DTI, NCR, CIF and NCT.
Why not sign up for the Debtfree Industry Newsletter?
One email a month with the latest financial local and international news about all the things that may impact on how you do debt review.
FoodBank
Guests were also able to sample the delicious food from the new industry FoodBank. Using the innovative South African FoodSock product, this recently registered NPO is able to help provide a healthy and filling meal for four people for only R45. That’s only R11.25 per person for a meal (and it stretches further if there are kids).
Sponsors like VHT and others have been generous in donating funds to the project. If your office likes to choose a project to support for charity work each year, why not consider this for your CSI or charity work in 2025?
Debt Counsellors who have clients who are going through a tough time and perhaps have sent credit providers a 17.3 are able to approach the FoodBank and ask for assistance.
By helping these clients cut down on their food costs for the month it may even free up a little funds to still make a small debt repayment for the month.
To talk to the FoodBank about your clients simply email: foodsocks@eatrific4all.co.za
A Warm & Silly Welcome
Our Editor and the Founder of the Debt Review Awards project Mr Zak King sporting a beard this year. Always mixing it up.
Zak welcomed the hundreds of excited in person guests and the thousands of others watching online. Some offices had several hundred connected and were all watching together. Others had WhatsApp groups going so they could chat during the event.
Zak then got down with the young folk by explaining the debt review process in gen Alpha slang. Other than confusing the older members of the audience he got a few laughs from those with younger kids and his presentation was 100% clutch and in no way sus fam.
Opening Remarks By the NCR
The National Credit Regulator registers and monitors credit providers, Debt Counsellors, Credit Bureaus, ADRs and Payment Distribution Agents who work in the industry.
It was a privilege to welcome Ms Lebogang Mosupye of the National Credit Regulator (NCR) to open the event with some words about the positive efforts of the debt review industry in helping rehabilitate consumers dealing with debt stress. Currently there are 250 000 people actively involved in repaying their debts via the process. Around 15 000 people are entering debt review monthly.
Mr Krisen Moodley of Datanamix next spoke about the role of credit bureaus in the debt review and credit granting process. He admitted to being a numbers guy but showed his sense of humour.
Krisen spoke about how Datanamix are disrupting the space with their innovative products and easy to use services. He asked why this part of the process (getting and verifying important information) can’t be as easy as clicking a button? And they intend to make it so.
He also revealed that those joining the fun at the 360 camera were in line for some prizes.
New Look Awards
After a decade of the traditional Golden Piggy Banks, which were locally sourced and made in Cape Town, the Debt Review Awards have changed their look and feel this year (and going forward).
The new look awards which are also locally made in South Africa keep the iconic piggy bank design. Just with a new twist. The piggy bank is after all the global sign for saving. And though not a savings plan debt review does help save consumers homes, cars and more.
Guests were looking forward to finding out who this little piggy will go to this year.
The Co-Branded Awards
There were a number of co-branded awards handed out to deserving winners on the day. These are traditionally done in connection with various supporters and sponsors.
This year it was exciting to introduce recognition for newer Debt Counsellors who have entered the industry on a strong note and are now helping a good number of clients with their services.
Jabulane collecting the Award from Eddie of DCCP on behalf of Godfrey Risenga
This was recognised in the new Rising Star Category.
Working with DCCP (who provide specialised insurance to the industry) two newer Debt Counsellors who have shown their potential were identified.
Though both winners have only been in practice for a short time they have already helping a few hundred clients on their way to financial rehabilitation.
Congratulations to Mr Godfrey Risenga (Erflo Debt Counselling) and Mrs Someshnie Rajkaran (SymSynE Consulting) on being recognised this year.
The next award handed out was to those Debt Counsellors making good use of available technology (as well as their clients making use of portals like DReX to access information about their own debt matters).
Mr Scott van Staden, of Slipstream Technologies was on hand to announce the both the Top 5 users this year and the ultimate winner: DebtSafe.
The Debt Review Awards is not just about companies and practices but also about individuals. Each year the Awards like to recognise the hard work done by two individuals who work within the industry. This first recognition going to someone who is changing the way things happen on a day to day basis in the industry and the second recognition looking more at a long pattern of helping the industry.
This year the prestigious ONE | Debt Review Awards Significant Contribution to Debt Review awards were presented to:
(1) Mr Casper Le Grange of DCGsa for his Significant Contribution to the Debt Review Process and particularly his work on the NCT Task Team 2.0 and with DCASA.
(2) Ms Maggie Kotze who has trained many people working in the industry. Maggie has done this for many years and is a mentor to many Debt Counsellors. She was recognised with the Significant Contribution to the Debt Review Industry Award.
Capital Data Debt Write Off
3 Consumers who are clients of Capital Data and have entered debt review and are now paying off their debts responsibly were in for a real treat this year. As has been their pattern over the last 3 years Capital Data, who are a division of Nutun, announced that they were writing off these consumers debt with them.
This is a favourite moment in the Award gala and focuses in on the consumers who are loyally sticking with the process and keep on paying off their debts each month. The entire process and industry is designed to help such ones deal with their debts responsibly.
The Debt Counsellors of the 3 clients were notified and we hear around R40 000 worth of debt was written off. Amazing.
Thank you to Capital Data for their generosity towards these consumers.
Time For a Break and A Little Fun
The audience then got to have a bit of a break to stretch their legs. Those online got to enjoy a special episode of the popular Debt Review With Dummies Podcast.
Meanwhile at the venue everyone also got to play a game of “Debt Review”.
The result was Debt Counsellors rushing between credit bureaus, credit providers, PDAs, attorneys and the NCT to get cards representing different steps of the debt review process to progress.
The Debt Counsellor (Nikki from Consumer Debt Support) who won the game cleaned up with twice as many ‘clearance certificates’ as any other in attendance.
For consumers in debt review, the ultimate goal is to get debt free and then get a clearance certificate from their Debt Counsellor. This is the form that shows their debts are now all settled and they can reenter the credit market if they so desire.
The National Consumer Tribunal
Mr Trevor Bailey of the NCT spoke after the break. He quickly got everyone’s attention as he spoke about the NCTs recent interactions with the DTIC. The topic on discussion? Possible amendments to the National Credit Act.
Many in the industry are eager to see amendments made to the wording of the Act which could help make things easier for consumers in the process, Debt Counsellors and credit providers.
He also impressed the audience with stats about the NCT’s fast turnaround times and output. The NCT are eager to be more involved in the industry and said they want to make things better, faster and cheaper for consumers who need help through debt review.
Legal Certificates and Award
This year two certificates of recognition were handed out to attorneys working with credit providers and Debt Counsellors and their clients.
The certificate of recognition for attorneys representing consumers and Debt Counsellors went to:
Johnathan Van Druten (JVD Attorneys)
The certificate of recognition for attorneys representing credit providers went to:
CF Van Coller (CF Van Coller Inc)
Then it was time for the 2nd winner of the annual Nousheen Pore Award.
This award, in memory of Nousheen, is aimed at those working on the legal side of debt review who are enthusiastic mentors and leaders in the field.
After some words from Mr Benay Sager of DebtBusters the award was then presented by last year’s winner Mr Cornel Van Heerden (of VHT Attorneys).
This year the Nousheen Pore Award went to not one but two members of the National Consumer Tribunal team; namely Mr Bax Nomvete and Mr Prenesen Moodely.
Both are well known by those interacting with the NCT and have been instrumental in helping make submitting applications easier than ever.
Updates & Awards Process Amendments
Mr Steve Rosenberg then shared some insights into the Awards process for the 2023/2024 period.
Though the changes this year were minor other than the addition of the two new Rising Star category Awards, we are excited with all the possibilities that next years Awards process holds.
Many fine suggestions have been received and will be incorporated and there may be some exciting developments allowing the recognition of even more industry participants in 2025.
PDA Awards
This year, presenters Anila Pillay of Capital Data and Isobel Townsend of Digital Orchestrators handed out 2 Awards in the Payment Distribution Agent Category.
This year the Award for PDAs as Reviewed by DCs went to: DC Partner PDA
This year the Award for PDAs as Reviewed by CPs went to: Hyphen PDA
We may see some exciting changes to this category in the future based on new feedback. We wish to thank the PDAs for their ongoing hard work in supporting the industry and facilitating consumer payments, payment tracking and reporting.
Credit Provider Awards
The certificate for Most Improved Credit Provider Debt Review Department this year went to: African Bank
Though they did not take home any awards this year it seems that Debt Counsellors agree that they are making an effort and 2025 could be their year.
The Award in the Category Retail & Recoveries went to: Consumer Friend. Consumer Friend are the company to beat in this category and have taken this award many times in the past.
The Award in the Category Short Term Finance went to: Unifi Credit This is the first time Unifi has received this award.
The Award in the Category Vehicle Finance went to: Wesbank
The Award in the Category Large Non Bank Credit Provider went to: Old Mutual. Old Mutual have also dominated this category over the years.
In the banking section, there are 2 awards namely Secured and Unsecured.
The Award in the Category Bank | Unsecured went to: Nedbank
The Award in the Category Bank | Secured went to: Absa
This year the Award for Highest Rated Debt Review Department went to: Consumer Friend (their second award of the day.
Debt Counsellor Awards
This year there were certificates handed out to the Top 5 Debt Counsellors in the various size categories (Boutique, Small, Medium, Large, National and National Plus).
The highest rated Debt Counsellors in the peer reviews received the new look Piggy Bank Awards.
Boutique DC Practice: Susan Pretorius of Debt Solutions
Small DC Practice: Gerhard Stoltz
Medium DC Practice: Debt Therapy
Large DC Practice: DebtSafe
National DC Practice: DC Experts
National Plus DC Practice: DebtBusters
Bye Bye People of The Internet but The Good Times
Go On
After the Awards ceremony was over it was time to say goodbye to the online viewers. At the venue the guests then got to relax with some food and drinks and time to relax and mingle.
Sponsors
The entire Debt Review Awards Peer Review and Gala are made possible due to the financial generosity of our various sponsors.
We want to say thank you for your financial contributions. The entire process helps contribute to the ongoing professionalisation of the industry and makes sure we recognise those who are making an effort to go above and beyond in making debt review work well for consumers.
Thank You!
For more information head over to:
www.debtreviewawards.co.za
Re-Watch the Awards on Youtube
The Debt Review Awards annually connect credit providers, debt counsellors, PDAs, and service providers through various events. This year, co-hosted by iPDA, the Intuitive Conference ‘24 took place at the scenic Cassia Restaurant on Nitida Wine Estate in Cape Town with an exciting F1 theme.
Attendees enjoyed inspiring sessions from speakers Dawie Roodt, Dewald Lindeque, Timmy van de Grijp, and international coach Gustav Gous, who concluded his talk with a celebratory champagne spray, F1 style.
The event also featured F1 simulators and an interactive panel led by Corrie van de Venter, with Panelists Maya Fisher-French, Zak King, Goustav Gous, Timmy van de Grijp and Tiaan Hattingh shared key perspectives in a way that made attendees part of the conversation.
Visit the intuitive website https://conference.intuitive.co.za/ to see all the photos, courtesy of our photographer Corrie Van De Venter Feel free to download, share, and tag iPDA and the Debt Review Awards page!
While you’re there, please complete our survey, we would love to hear from you!
The Debt Review Awards at D’Aria Winelands, was a day of elegance, networking, and celebration! Did you capture moments with the very important guests?
Host Zak kept us entertained, and our CEO, Tiaan, took to the stage to highlight the industry’s twists and turns, the dedication of our unsung heroes, and the importance of consumer education. Congratulations to all the nominees and the winners! Let’s gear up for 2025 and make it another unforgettable year together!
facebook.com/groups/allprodc
www.allprodc.org
W Cape: 7th Nov2024
KZN: 8th Nov 2024
Gauteng: 12th Nov 2024
E Cape: 15th Nov 2024
www.dcasa.co.za
Tel: +27 12 140 0602
Email: info@collectnetpda.co.za
Web: www.collectnetpda.co.za
Finwise is an all-inclusive Software System, designed for debt counsellors for professional and efficient Debt Management.
Finwise is a cloud-based system, and can be used on any mobile device, PC, or tablet with internet connectivity. The exceptional workflow and innovative task manager tools saves the user valuable time, through multiple consumer data reporting and easy management. Several integrations such as Legasys, iDOCS, Drex, facilitate effortless administering, and handling of multiple transactions and tasks within one system.
STEP-BY-STEP DREX GUIDE
DREX simplifies the exchange of data and makes managing the debt review process less admin intensive.
The below links take you to step-by-step guides on how to use the DC Portal on DREX.
How to Register on the DC Portal
Introduction to the DC Portal
Accessing a Consumer's Profile
We’re
If you have excellent communication skills, empathy, and a desire to make a real impact, apply now! If you’ve always been that person who gets it done, we want to talk to you.
Location: N1 City, Goodwood, Cape Town
Rosebank Johannesburg
We are looking for a highly skilled Debt Counsellor to join our company. To be successful in the position, you should have a strong background and proven track record within the debt counselling industry.
Requirements
• Matric / Grade 12
• Qualified Debt Counsellor, registered with the NCR.
• Minimum five years’ experience as a registered Debt Counsellor.
Necessary Attributes & Skills:
• Strong communication and negotiation skills.
• Excellent administrative skills and attention to detail.
• Active listening skills with a personal approach.
• Self-motivated and able to work with minimum supervision.
• The ability to work as part of a team and achieve team goals and targets.
• Must be able to communicate in several of the 12 official languages.
• Very knowledgeable of the debt review process and applicable acts.
• Confidence to liaise professionally with clients and creditors.
• Good time management and the ability to meet tight deadlines.
Please forward your CV to selvan@debtfreeze.co.za
DEBT COUNSELLORS
NORTH WEST
NORTHERN CAPE
WESTERN CAPE
GAUTENG
LIMPOPO
FREE STATE
KWAZULU-NATAL
EASTERN CAPE
MPUMALANGA
www.debtbusters.co.za
info@debtbusters.co.za
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
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
www.debtbusters.co.za
www.zerodebt.co.za
www.debtbusters.co.za
info@debtbusters.co.za
www.zerodebt.co.za
www.debt-therapy.co.za
www.debtbusters.co.za
info@debtbusters.co.za
One consolidated payment. Savings on interest rates. More cashflow. Let’s get it sorted! Debt doesn’t have to weigh you down. NCRDC2484 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
Tel: 087 701 9665
Email: help@zerodebt.co.za
www.zerodebt.co.za
www.debtbusters.co.za
info@debtbusters.co.za
www.zerodebt.co.za
www.debtbusters.co.za
info@debtbusters.co.za
www.zerodebt.co.za
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
Tel: 087 701 9665
Email: help@zerodebt.co.za
www.zerodebt.co.za
NCRDC49
www.debt-therapy.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
0872382280 enquiries@payplansolutions.co.za www.payplansolutions.co.za
LEGAL
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
Effective Intelligence sardagh@e-intelligence.com
Fides Cloud Technologies craig@fidescloud.co.za
Finch Technologies chris@finchinvestments.co.za
I-Bureau Services abrie@ibureau.services
IDR South Africa shane@v-report.co.za
iFacts sonya@ifacts.co.za
Inoxico support@inoxico.com
Kudough Credit Solutions chrisjvr@kudough.co.za
Lexisnexis Risk Management kim.bastick@lexisnexis.co.za
Lightstone chrisb@lightstone.co.za
Loyal1 tshepiso@loyal1.co.za
Managed Integrity Evaluation
marelizeu@mie.co.za
Maris IT Development marius@marisit.co.za
National Validation Services info@nvs-sa.co.za
Octagon Business Solutions gregb@octogon.co.za
Omnisol Information Technology info@verifyid.co.za
Payprop Capital johette.smuts@payprop.co.za
PBSA seanb@PBSA.CO.ZA
Right Cover Online cto@rightcover.co.za
Searchworks 360 skumandan@searchworks360. co.za
Smart Information Bureau info@smartbureau.net
ThisisMe juan@thisisme.com
TPN Group michelle@tpn.co.za
Trans Africa Credit Bureau
clintonc@transafricacb.co.za
Transaction Capital Credit Health
DavidD1@tcriskservices.co.za
VeriCred Credit Bureau sumein@vccb.co.za
WeconnectU
johann@weconnectu.co.za
Zoia Consulting sipho@dots.africa
C O N T A C T D E T A I L S DEBT REVIEW NIMBLE GROUP
Dear Debt Counsellors,
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
Forms 17 1 and 17 7
Forms 17 2, Proposal Summaries, Cascade plans & Court orders
Forms 17.2 Rejection, 17.W & Form 19
Forms 17 3, General queries, settlements, balance, refunds, statements, Paid up letter request & reckless lending allegations, payment allocation queries & Complaints
Contact Details
drcob@nimblegroup co za
drproposal@nimblegroup co za
drtermintation@nimblegroup.co.za
drqueries@nimblegroup co za
DEBT REVIEW INBOUND CONTACT NUMBERS:
+27 87 250 5533
+27 21 8300 711
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,
Denvor Rank
Operations Manager: Process Recoveries
1st line escalation
Aletta Tokollo Molelekeng
Debt Review: Team Manager
D: +27 11 285 7247
E: AlettaM@normanbissett co za
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
We trust this communication finds you well and that it will improve our service to you
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.
CAPITEC BANK ESCALATION CHANNELS
1 Jolene Pieters Team Leader: Debt Review (Court Orders/Forms/Inclusions) JolenePieters@capitecbank.co.za 2 Cindy Mauritz Manager: Debt Review CindyMauritz@capitecbank.co.za
3 Carolina Visser Manager: Process Recoveries 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
1 Mfundo Xaba Officer: Market Conduct Oversight MfundoXaba@capitecbank.co.za
2 Dries Olivier Manager: Market Conduct and Oversight DriesOlivier@capitecbank.co.za
Reckless Lending Queries
1 Whitney Jardine Team Leader: Recoveries Risk Support WhitneyJardine@capitecbank.co.za
2 Zayaan Jurgens Manager: Recoveries Risk Support ZayaanJurgens@capitecbank.co.za
Credit insurance claims
1 Grant Griffith Jessica Rademeyer Kanyisa Mbiza Team Leader: Insurance Claims GrantGriffiths@capitecbank.co.za JessicaRademeyer@capitecbank.co.za KanyisaMbiza@capitecbank.co.za
2 Brigitte October Performance ManagerInsurance Claims BrigitteOctober@capitecbank.co.za
Telephonic queries lodged
1 Laetitia Pretorius Team Leader: CCS Queries LaetitiaPretorius@capitecbank.co.za
2 Tracey Govender Manager: Recoveries Administration TraceyGovender@capitecbank.co.za
Sincerely,
17.1, 17.2, Proposals, General correspondence: debtcounselling@africanbank.co.za
To register for Legal Web Access: lwac@africanbank.co.za
Reckless Lending investigations: RLA@africanbank.co.za
DETAILS COMING SOON For more
ESCALATION PROCESS
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
proposals@consumerfriend.co.za