Debtfree Magazine issue #11 of 2020

Page 1

Issue 11 of 2020


EXCELLENCE IS DOING ORDINARY THINGS EXTRAORDINARILY WELL – John W. Gardner


WHAT MAKES US EXCELLENT? / Unimpaired and automated PDA systems / Integration with top-ranked Debt Counsellor systems / Enhancing Debt Counsellor efficiency and sustainability / Best customer support in the country – queries are resolved within 24 hours / Strong compliance and best-industry-practice implementation is at our centre

Call Chris van der Straaten Head of Hyphen PDA | 082 557 0437 Or call our friendly support centre on 011 303 0060 - Option 2 or visit our website www.hyphenpda.co.za


We are the champion in your corner!

DebtBusters provides a remedy for financially stressed consumers through effective debt relief solutions. Over 1 million South Africans who are facing tight budgets and are struggling with debt, have come to DebtBusters looking for a financial solution.

086 999 0606 info@debtbusters.co.za www.debtbusters.co.za


FROM THE EDITOR I don’t know about you but I am mentally fatigued. Admittedly, it has been a real rollercoaster of a year and we are suddenly only a few weeks from 2021 (when did that happen?). With the constant stream of new 2020 catastrophes and constant bad news my brain has started to feel like mush most of the time. I hear I am not the only one. You too may be feeling like 2020 is taking both too long to finish and has simultaneously flown by in a blur. Maybe, like me, you feel your output is lower than ever and you feel like you are working through brain fog, just going about your daily routine on autopilot. That’s why the fact that it is suddenly almost the end of the year is a real wakeup call. If you are going to successfully make it through December and January then you need to make sure you are ready now. The end of the year is tricky and this year will no doubt be trickier than most with our severely constrained budgets. Be sure to have a look for our reminder article on the topic. It is one of several articles this issue with its, tongue in cheek, Black Friday cover.


This issue we discuss why people seem so desperate in 2020 to hop on the Black Friday train. I mean even my local grocery store is trying to convince me that they have the best toothbrush deals for me and they are competing with airlines who think I am insane enough to hop on a plane and be around other people I don’t even know (nice try lunatics). It seems everyone is desperate to squeeze money from the very dry stone that is my wallet this year. Oh wait, that’s because they are. We delve into the growing hysteria surrounding and the origins of Black Friday. If you have been wondering how the Pandemic has hit the debt counselling profession and industry then you will no doubt enjoy our look at that in this issue. The results have not been exactly what you might think and the effects will be felt for some time to come. We also feature news, reviews, tips, advice and all the usual. We all managed to get our brains in gear long enough to help get this issue together for your reading education and pleasure. We do really hope that you enjoy it. We truly hope that the magazine helps you know that you are not alone in your tough journey through 2020 and that even though things are rough, others, just like you, are slowly but surely paying off their debt and getting their lives back on track. It can be done. When you think back to 2020 you will no doubt remember what a crazy year it was but hopefully you will not be just remembering your debts. You will hopefully be thinking about other more important things like spending lots of time with your family, like how you developed new skills, like how much you enjoyed going to work in your slippers. These small positive things have become our daily motivators that help carry us through the brain fog, through the fatigue, through the bad news, onwards another day, another week, another month on our journey to finally being debt free.


CREDIT

CREDIT PROTECTION

PROTECTION CREDIT

Have you applied to go under debt review? Are you restructuring your monthly expenses? Would you like to insure your debt?

PROTECTION

Why outstanding accounts a single ONE Protection Policy? Have not you insure appliedall to your go under debt review? Are youinrestructuring yourCredit monthly expenses? Would you like to insure your debt? Why not insure all your outstanding accounts in a single ONE Credit Protection Policy? BENEFITS OFFERED: Have you applied to go under debt review? Are you restructuring your monthly expenses? Would you like to insure your debt?

• Death – we settle the account

BENEFITS OFFERED:

Why– not all your outstandingfor accounts in a single ONE Credit Protection Policy? • Temporary Disability weinsure pay your installment 12 months

• Death – we settle the account

• Permanent Disability – we settle the account

• Temporary Disability BENEFITS – we pay your installment for 12 months OFFERED:

• Critical Illness – we pay your installments for 3 months

• Death we account settle the account • Permanent Disability – we settle–the

Retrenchment – we your installments • Temporary Disability we12 paymonths your installment for 12 months •• Critical Illness – we paypay your installments for 3 –for months • Permanent Disability we settle the account • Retrenchment – we pay your installments for 12– months

Illness – we pay your installments for 3 per months At a rate of R2.95 per R1000• Critical unsecured/short-term credit and R2.00 R1000 on mortgages and you can now insure your debt • Retrenchment – we pay your installments for 12 months

At aless. rate of R2.95 per R1000 unsecured/short-term credit and R2.00 per R1000 on mortgages and you can now insure your debt for for less.

At a rate of R2.95 per R1000 unsecured/short-term credit and R2.00 per R1000 on mortgages and you can now insure your debt

The following financial obligations for less. or debt can be covered on the ONE Credit Protection Policy: The following financial obligations or debt can be covered on the ONE Credit Protection Policy:

• Credit Cards

• Credit Cards

• Overdrafts

• Overdrafts

The following financial obligations or debt can be covered on the ONE Credit Protection Policy: • Credit Cards

• Personal Loans

• Personal Loans

• Overdrafts

• Home Loans

• Personal Loans

RentalAgreement Agreement •• Rental

• Retail Accounts

• Home Loans

RetailAccounts Accounts •• Retail

• Home Loans

MaintenanceOrders Orders •• Maintenance

• Rental Agreement • Maintenance Orders

For further please speak to your Broker, Debt Counsellor or alternatively contact your regional ONE office.ONE office. For furtherinformation information please speak to your Broker, Debt Counsellor or alternatively contact your regional For further information please speak to your Broker, Debt Counsellor or alternatively contact your regional ONE office. 0861 266 562

0861 266 562

0861 266 562

admin.debt@one.za.com admin.debt@one.za.com

admin.debt@one.za.com Terms and Conditions Apply

Terms and Conditions Apply

Terms and Conditions Apply ONE Insurance Underwriting Managers (Pty) Ltd Reg No. 1996/008987/07.

ONE Insurance Underwriting Managers (Pty) Ltd Reg No. 1996/008987/07. Authorised Financial Services Provider FSP8783 VAT No. 4370160501 Authorised Financial Services Provider FSP8783 VAT No. 4370160501

ONE Insurance Underwriting Managers (Pty) Ltd Reg No. 1996/008987/07. Authorised Financial Services Provider FSP8783 VAT No. 4370160501


CONNECTED TO YOUR BUSINESS SUCCESS We know how important it is to succeed in your Debt Counselling business. Trust us for the best support, customer service and debt management software.

We treat all enquiries as important! Our field agents & Customer Relations Team give you the best support.

We assist you by providing a secure program. It is easy to succeedwithour tools!

CONTACT: HELPDESK@DCPARTNER.CO.ZA


LET’S TALK


We appear in the following courts and act as a correspondent for Dc’s and their attorneys. ATLANTIS BELLVILLE GOODWOOD CALEDON CAPE TOWN WYNBERG CERES GRABOUW

HOPEFILED KHAYELITSHA KUILSRIVER MALEMSBURY MITCHELLS PLAIN MOORREESBURG PAARL PIKETBERG

ROBERTSON SIMON’S TOWN SOMERSET WEST STELLENBOSCH STRAND TULBAGH WELLINGTON WORCESTER

Please contact adri@kempdebruyn.co.za to enquire about our fees.   

+27 (21) 200 5644 adri@kempdubruyn.co.za 21 Station Street, Paarl, 7646


IT’S BLACK FRIDAY

2021 PANDEMIC V.2

INSURANCE DO YOU NEED IT?

PREPARE NOW

COVID-19 EFFECTS ON THE DEBT REVIEW INDUSTRY

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.

C O N T E N T S


BREAKING NEWS


REPO RATE STAYS UNCHANGED The SA Reserve Bank’s Monetary Policy Committee (MPC) has announced that the Repo Rate will remain unchanged at the very low rate of 3.5%. Adjusting the rate is often linked with inflation and those figures are pretty consistent and manageable recently. The Pandemic’s effect on the economy was one factor considered as was the confusion and ongoing comedy show that is the USA democratic process (which is now resolving) and its effect on the Rand/Dollar exchange rate. With lockdown levels remaining low and most businesses functioning as well as can be expected, the MPC decided to keep the rate as is.

AFRICAN BANK STAFF CUTS COMING? Due to the effects of the pandemic African Bank are one of the latest businesses looking to cut overheads. At present African Bank has around 3700 employees and have said they may have to cut 317 staff members. The bank reported a 25% reduction in debt collections this year. The bank recently employed 29 new staff who specialize in improving the use of digital solutions and their digital banking products and services.


NCR TARGET MISLEADING ADVERTS Some Debt Counsellors make use of external marketing people or companies that specialize in finding potential client leads. These companies may be making unrealistic or misleading promises to entice people into contemplating debt review. The National Credit Regulator (NCR) has released a circular this year on the topic and cited specific examples of what they label as misleading advertising, saying that such adverts may be leading the industry into disrepute (for which Debt Counsellors can lose their registration) Some misleading examples mentioned in the circular are: There is a new High Court ruling helping people in debt write off up to 63% of their monthly payments. Click “Apply Now” to take the FREE assessment; NCR DC is giving South Africans “Extra Cash” to enjoy by reducing debt interest and protection from repossession of assets. Free assessment sms “YES”; Other attorneys or companies are falsely offering to remove consumers debt review listings at the credit bureaus (before they have paid up all their debt as required) with adverts such as this: We will attend to your legal and debt review flag removal in 20 working days with or without a court order. The NCR warn consumers not to fall for such unrealistic promises and Debt Counsellors to avoid such advertising. Debt Counsellors are urged to contact the NCR to report anyone making such misleading advertising claims.


REDUCE UNNECESSARY EMAILS & CALLS ARE YOUR CLIENTS SIGNED UP TO DReX?

^^^

Encourage your clients to sign up on DReX and instantly reduce requests for balances, statements and payment confirmation. Now you can focus on other revenue generating activities!

CONSUMER BENEFITS: Visibility of balances Detailed statements Access to debt review documentation

CLICK HERE

CLICK HERE

for the link to send to your clients

to upload a database & we’ll do the rest!

DReX simplifies the exchange of data and makes managing the debt review process less admin intensive

+27(0)31 251 4151


South Africa’s

leading Debt Counsellors since 2007

Start getting out of debt today! www.creditmatters.co.za Call our national call centre on

086 111 6197


EDCON ACCOUNTS: NIMBLE OR CONSUMER FRIEND? Consumer Friend have been handling debt review matters for many (RCS) Edcon matters for some time now. The recent sale of another portion of Edcon’s debtors book to a different company has caused some confusion. When Consumer Friend first took over debt review matters for Edcon debts that were sold to RCS (their client) it took Debt Counsellors a while to double check if their clients’ matters were affected. Consumer Friend was very proactive in contacting Debt Counsellors to confirm the change. Now, the Nimble group have taken on another small portion of Edcon’s debtors book and have been sending correspondence to Debt Counsellors saying they are handling Edcon debts. While they have indeed taken on some accounts it is not all Edcon accounts and Debt Counsellors are urged to check with both Nimble and Consumer Friend to confirm who should receive payments for their clients’ debts with Edcon if they receive a notification. This will help avoid any incorrect payments.




IT’S BLACK FRIDAY!!!




IT’S BLACK FRIDAY

INTRODUCTION If you work in retail, you are probably doing a Black Friday special just like everyone else. Everyone is pretty desperate this year to try to get customers to spend the little money they have left at their shop, in a last ditch effort to try make up for lost income during lockdown. For many who are looking for a good bargain to help lift the mood of the entire Covid-19 filled year, Black Friday seems more important in 2020 than ever before. What are its origins, and why has it spread worldwide?


IT’S BLACK FRIDAY

THE FIRST BLACK FRIDAY WASN’T ABOUT SHOPPING Interestingly, the term ‘Black Friday’ was first used in 1869, when two greedy stock market gold traders colluded to drive up the gold price by creating a false spike in the price. They bought up every share they could get their hands on, with the intention of selling their shares to other traders following suit, at a huge profit for themselves. Unfortunately their plan brutally backfired, and the stock market went into free fall, leaving countless stock market investors and listed companies destitute. This is why that Friday was known as a very dark or “black” day for the markets, and all the people who lost their life savings and investments as it collapsed. Sadly, over 150 years later we still see similar attempts at market manipulation and as recent as this year big banks have been caught out and have had to pay record high fines for trying these profit making tricks.




IT’S BLACK FRIDAY

SO, WHERE DID THE MODERN BLACK FRIDAY COME FROM? Stores create a themed shopping experience to take advantage of the annual festivals and holidays. You have probably noticed that most shops are already playing Christmas songs, even though it is still weeks and weeks away. Soon every holiday began to get their own decorations, signage and even theme music. Shoppers get bored and changing things up within your shop from time to time, has shown to improve sales. It also sometimes feels like the shop owners and their staff are bored, and also need a change. In Philadelphia (USA) in the 1950s the police used to talk about the chaos that used to happen on the day after Thanksgiving, when people from the suburbs and tourists used to come into the city to watch a big American gridiron football game the following day. All the cops would have to be on duty, and work many hours of overtime just to handle all the extra incidents and problems on that Friday. Shoplifters in particular used to be a big problem on the day, since the shops were so crowded with people. The cops didn’t like it and so gave it this negative name. By the 60’s most Philadelphia shops began to use the term (or the similar name: Big Friday) to refer to this challenging retail day.


IT’S BLACK FRIDAY

WHAT IF YOU HAD A SORT OF HOLIDAY ALL ABOUT SHOPPING?


By the 1980’s many local Philadelphia shops had decided that having lots of people in the store on that particular day was actually a great earning opportunity, and not a big pain. Many shops ran at breakeven (or a loss) all year until this big day in November, when they finally began to see some profit for the year. They would finally go from being “in the red” (and accounting term for making a loss) to being “in the black” (or making a profit). This was, for retailers, something to celebrate - a type of shopping holiday. Soon stores began to compete in offering sales items to attract the most customers. The idea was have some really cheap items on sale, and then hopefully the shoppers would buy other normal priced items as well (a classic marketing idea). Around the mid 1980’s stores country-wide in the US caught on to the trend, and began to replicate it. They also, with some clever marketing, began to see a massive increase in sales on that Friday. Then it became a war of advertising and offering lower and lower prices to try draw customers in. This is how the modern Black Friday, with all its craziness became a thing. We have all seen the videos of old ladies punching kids in the face as they wrestle a special toy from their hands among other such crazy stuff. It is often funny to see, but there is a bit of a dark side too. Sadly, some people have even lost their lives in all the hysteria. Over the next few decades, Black Friday slowly spread worldwide as other countries and shops desperately wanted to cash in on the phenomenon. The trick was to try create a feeling of excitement and anticipation and attract people into the stores. This is where FOMO comes in.



IT’S BLACK FRIDAY

WHAT IS FOMO? The Fear of Missing Out, also known as FOMO, is a basic human condition. We hate being the last to know, not being invited somewhere or missing out on the latest gossip. This is what drives, among other things, our love of news and social media. In modern times it was the Americans who first realized how important it is to not only take advantage of FOMO, but also how to generate a feeling of hysteria when shopping and how this spikes sale figures. Marketing agencies worldwide learnt from them, and now make use of advertising to generate hype leading up to the event. They now create countdowns; get people to sign up to ‘early access’ daily mailing lists or emails to get people excited. The message is, if you don’t buy now, you are going to miss out!


IT’S BLACK FRIDAY

BLACK FRIDAY MONTH, CYBER MONDAY & TECH TUESDAY The next logical step after creating hype about a single day of shopping is to try to create another day or even two to try to draw in shoppers again. This was the idea behind cyber Monday or tech Tuesday as shops selling computers and phones began to punt this separately branded event. In an attempt to get people to ring fence some of their money for particular products these other tech based sales days have sprung up and have been increasing in popularity But competition for people’s limited funds is tough, and location based retailers now have to compete with online shops with lower over-heads. As competition hots up, to gain attention sooner than their competitors, retailers started advertising a ‘Black Friday week’, then a Black Friday month, next they may have to have sales every single day…oh wait… they already do.




IT’S BLACK FRIDAY

BUYING ON CREDIT The questions of how to push sales even higher on these new shopping holidays was quickly answered with the wide availability of credit from the banks and then later the retailers themselves. The stores purchase heavily discounted mass stock from desperate suppliers, sell these items cheap and the consumers make use of credit in order to not miss out. Of course, the consumers often ignore the fact that buying anything on credit, eventually costs you much more than the advertised price. But FOMO combined with (the learned behavior of) wanting instant gratification continues to drive credit use among shoppers. So, consumers end up paying more by using credit in order to save. Oh the bitter irony!! All we can say is, well done marketing people!


IT’S BLACK FRIDAY

DON’T GET SWEPT UP IN THE HYSTERIA We all love a good bargain. Finding something cheaper at one shop than somewhere else is smart. Shopping around for deals, on items you need, is actually a really good idea. The trick is to not fall for the obvious marketing ploys of clever advertising people and shop when you don’t need to, or can’t afford to. The fear of missing out is a real marketing strategy that drives people to make bad snap decisions based on a false sense of urgency. It is much better to budget, save, and only buy what you need when you need it. This doesn’t mean that you should avoid Black Friday, after all there may be a deal on a specific item you are looking for. What it does mean, is that you need to be careful of not getting swept up in the hysteria of the day. The National Credit Regulator have even sent out media blasts warning people not to get carried away on Black Friday, and to avoid buying on credit. Debt Counsellors country wide are similarly cautioning their clients, urging consumers to be smart this year and only buy what they need, if they have saved for it.




IT’S BLACK FRIDAY

LOOKING FOR THE BEST BLACK FRIDAY DEAL? Our cover this month is very tongue in cheek, as we try to highlight how just slapping the words ‘Black Friday’ on anything can easily be done and create a clever marketing impression. Please use common sense this month and shop wisely. Still, we want to live up to our cover so, here is a Black Friday special that might be hard to beat: Debtfree Magazine is not 50% off, not 75% off, it is 100% off this month… and next month and every month, enjoy!


DEBT REVIEW LESSON 1

Missing a payment while in debt review can make you lose all the progress you have made over months or years. Never miss a payment.



PANDEM


MIC V.2



PANDEMIC V.2

WHAT TO EXPECT NEXT YEAR When South Africa entered the initial 2 week lockdown at the end of April 2020, many people thought the Covid-19 pandemic would be nipped in the bud and life would quickly go back to normal. Scientists and economists, of course, were warning that the new virus was here to stay and that the world was in for a long, hard time fighting the illness. Now, as we are nearing the end of 2020, we look ahead to 2021 and wonder what it will hold. Here is a quick look at 4 things you can expect in 2021


PANDEMIC V.2

1. THE 2 WAVE ND

Back in 1918 & 1919 it was the second wave of Spanish Flu that took the most lives, not the initial outbreak. At present, Europe has been hard hit by their second wave (a wave caused primarily due to human behavior). As winter hit the northern hemisphere transmission rates increased and sadly, so have infection and death rates. While South Africa is currently enjoying a nice warm summer, which helps as it encourages people to increase ventilation etc. Winter will eventually roll around again. It remains to be seen what impact this has, but it is anticipated that rates will climb as winter begins. Another factor in the spread of the virus, is non-essential social contact with infected people. With a December break coming for most people, and with many planning to visit family and friends over this time, we can predict infection numbers to climb swiftly. Those returning from family and friends in other provinces are expected to spread the virus back home when they return, especially when using public transport.



PANDEMIC V.2

2. VACCINES It seems that every country is developing their own vaccine. Never before has there been as strong a financial and political drive to develop some sort of treatment (almost any type of treatment) for a flu virus. 2021 will see the production of many different and competing vaccines, all with different pros and cons. The pharmaceutical companies who have a vaccine in the works have pre-sold 90% or more of what they will be able to produce next year to 1st world countries. For 3rd world countries, like SA, it will be a case of (1) who will sell us vaccines, and (2) can we safely store and distribute the vaccine (some require staying at minus 80 degrees at all times)? Even when a vaccine/ vaccines comes to SA, the question is, who gets it first (will it be doctors and children for example or the politicians and rich people). Will rich people be able to privately buy the vaccine through their medical aid or private hospital? Time will tell, but history tells us that those with money tend to come off best during pandemics. We may see a repeat of this trend in 2021. Since vaccine production has been rushed through, so many people will be hesitant to take it. Already many people have become anti vaccine over the years and others will simply want to be cautious and wait for others to take it first so they can see if there will be negative long term effects. So, you may have a divide among those who want it and those who refuse. This is a complex issue. It may be that the vaccine(s) are only effective for a short time period, or that Covid-19 may mutate over time and eventually pharmaceutical firms will need to develop and sell a new annual vaccine, similar to what currently happens with flu shots. It is good money for them, if that is how it plays out and deals with the reality that Covid-19 may simply be around for the foreseeable future, spiking in the population every winter for years to come.




PANDEMIC V.2

3. ECONOMIC FALL OUT Millions of South Africans lost their jobs in 2020 due to the lockdown, and resultant economic collapse. People shifted their shopping habits which massively impacted on many businesses (like restaurants who had to close or shift to take-out options). Not to mention people without income simply had no money to spend, which meant many businesses suddenly had no one coming to buy things. This in turn meant they could not pay staff or their suppliers. Economic recovery in the wake of a Pandemic will be a long time in the making. Some people blame the economic impact of World War 1 and the pandemic that followed in 1918 for the eventual rise of Fascism and the Nazi party two decades later, in a still impoverished Europe. We can expect the Rand value to come under increased pressure based on National debt levels. This makes imported items more expensive and exporting items more desirable. Locally, government is planning on creating lots of jobs in the months ahead. However, it’s worthwhile realizing that job creation is always on the political agenda, and has been for many decades now. So has housing and providing electricity and good plumbing. There is a massive need right now, and similar job programs were successfully used in the past, in many countries, to stave off mass starvation and homelessness. Many businesses will continue to look for ways to cut costs and even reduce staff overheads by turning to technology and outsourcing. For some, this means new opportunities, but for others the loss of past income. Adaptability and creativity will be key to survival.


PANDEMIC V.2

4. SOCIAL CHANGE Already we have seen how a large number people have decided not to protect others, by simply wearing their facemasks. This may relate to inconvenience, frustration and inconsiderateness or may be a result of isolated for prolonged periods of time. There seems to be a worldwide tendency towards selfish behavior, which is not new, but has recently become more apparent. During lockdown, the clear connection between alcohol abuse and domestic violence was highlighted as families were confined to their homes, with tensions running high. Many people realized they might like to have a larger home with faster internet access. A lack of sympathy or empathy is a dangerous thing in the long run. It creates negative social behavior resulting in crime and xenophobia. As already mentioned, economic pressure often drives people to pretty extreme views and attitudes. In Germany and Italy in the 1930’s, a common idea was that people who were of different religious or ethnic backgrounds were to blame for all the problems in those countries at the time (typical xenophobia). It saw the rise of extreme political leaders and views, which ironically coincided with the economic recovery in those countries as they entered a war footing. Will we see similar attitudes and developments locally or even worldwide? Time will tell. Social distancing is not a natural state for people, and many people have been suffering from depression and anxiety due the pandemic. As money gets tighter, and more people plunge into debt to survive, we can expect to see these issues become more common as we approach the second year of the ‘pressure cooker’ that is this Covid-19 Pandemic.




PANDEMIC V.2

READY OR NOT 2021 HERE WE COME For many, crossing the physiological barrier of 1st Jan 2021 will create a huge sense of relief and hopefulness. There will no doubt be many other developments in regard to technology and finance as 2021 unfolds. Let’s hope that most of them will be positive and improve our lives. Another trend we will hopefully see next year, is more people turning to debt review as a way to deal with the financial pressure they face. It certainly offers a more manageable way for consumers to deal with their debts. If you have been taking financial strain and are looking for help, why not talk to a NCR registered professional Debt Counsellor about your current situation? What remains to be seen is how credit providers, who themselves are under increasing pressure to recover from the lost revenue of the lockdown and economic crash, react. Will we see credit providers make wider and longer lasting concessions on top of those they already have been making to the industry or will we see collections pressure from above start to create a more antagonistic attitude in the industry? We can hope for the former while not being surprised by the later, if it happens. As always it will be up to the big banks to take the lead in this regard. After a very tough and scary year, the good news is that 2021 is coming whether we want it or not. The bad news is that it’s coming whether we are ready for it or not.


DEBT REVIEW LESSON 2

Having financial challenges this month or next? Why not talk to your Debt Counsellor today about the situation and see if they have advice for you?




INSURANCE DO YOU NEED IT? You never need it...until you need it, that’s the nature of insurance. In fact, you hope to never have to claim on your insurance ever - regardless if that is your car, house, credit and especially your life insurance.


INSURANCE DO YOU NEED IT?

WHEN DISASTER STRIKES Insurance plays an important role in managing unexpected or undesired situations. In most cases, it will not replace the entire financial burden, but it will certainly help you manage the worst of whatever disaster has come your way. Some policies even have the option for you to pay more monthly and avoid any excess payments




INSURANCE DO YOU NEED IT?

INSURANCE ON YOUR CREDIT Did you know that when you applied for credit, you were asked by your credit provider to take ‘required credit life insurance’ in case of your death or incapacitation? These insurance policies protect the credit provider in case of your death. These policies also protect you, and can help cover installments on your debt (in many cases for several months) should you lose your job or become unable to earn.


INSURANCE DO YOU NEED IT?

COVID-19 & LOCKDOWN Many consumers were relieved when they were able to claim against such insurance during the national lockdown. Many businesses also made claims against business interruption. While some insurers said that Covid-19 was a new illness and could not have been predicted, (and allowed for in their policies) the courts in SA and elsewhere have disagreed, and recent landmark cases have seen businesses win their cases and receive much needed insurance pay-outs.




INSURANCE DO YOU NEED IT?

SPECIAL INSURANCE FOR THOSE IN DEBT REVIEW Even those under debt review can benefit from insurance (worked into your monthly budget by your Debt Counsellor). Besides the “usual� insurance options, that help consumers, those in debt review can opt for competitively priced insurance products to cover their credit accounts, and even their monthly debt review payment obligations. Example: What happens if you have a car accident while in debt review and your car is written off? Since consumers in debt review do not get access to new credit, how do they organize to get a replacement car to drive for work? There are insurance options for that. Example: What happens if another wave of Covid-19 forces everyone into another hard lockdown in 2021, preventing you from earning an income and have no money available for rent or your debt review payment? Fortunately, there are available insurance options for that. If you do own a car, make sure that your (required) insurance policy is up to date, and your insurer is aware of your debt review and any other relevant details, like where you live and park the car, never hide information from the insurer.


INSURANCE DO YOU NEED IT?

GET ADVICE Speak to a FAIS advisor (or ask your Debt Counsellor to put you in touch with one) about the various insurance options available specifically to people in debt review, which hopefully you never need to claim against.



We pay when your clients can't The importance of offering your clients protection from falling behind with their Debt Review repayments during unforeseen circumstances is now more evident than ever before.

CreditGuard offers an innovative Credit Life Insurance Policy. Specifically designed for the South African Debt Review market, our tailor-made benefits are available at an affordable cost to your clients:

Retrenchment / Loss of Income *

Death *

Accidental Death Benefit *

Permanent Disability *

All benefits are subject to Exclusions and Waiting Periods - * Guardrisk Life Product | **Non-Guardrisk Life Product

More cover and more security for your clients and you, the Debt Counsellor. Click

to

est a Requ ation nt Prese

Contact us for a presentation on how a partnership with CreditGuard protects your Clients & gives you, the Debt Counsellor, peace of mind. Contact Details: www.creditguard.co.za | info@creditguard.co.za


Refine your value-proposition by offering your Debt Review clients MORE.

More cover - More security

Temporary Disability *

Maternity *

The CreditGuard Credit Life Insurance Policy is underwritten by Guardrisk Life Limited (FSP 76) and administrated by Siyavika Risk Solutions (FSP 44999). CreditGuard is brought to you by Emisha Software (PTY) Ltd | 2016/281371/07

Identity Theft **

Critical Illness *



PREPARE NOW With the end of the year fast approaching it is wise to start thinking about the typically financially tough months of December and January. With the lockdown earlier in the year and how things have been going it is only realistic to be thankful for having work and income. Dreams of a bonus have long since faded and just the fact that your boss may give you a few days off at the end of the year is something to be celebrated.


PREPARE NOW

DECEMBER HOLIDAYS The end of the year is traditionally a time when families get together and spend time enjoying one another’s company, often with gift giving and big meals and added costs. Despite the pandemic many people will be travelling to spend time with family this will mean added expenses and in some cases unrealistic expectations from family and friends (regarding bringing of gifts). If you expect to take a break and travel or give gifts at the end of the year then be sure that you have budgeted for these extra costs. If money is tight after a tough year of lockdown then now might be a good time to have an honest conversation with your family (either at home or those who expect you to visit and bring gifts) to help manage expectations.




PREPARE NOW

JANUARY 2021 We are all looking forward to a new year ( hopefully a better one) but January can bring with it its challenges. For parents, for example, it can mean new school uniforms, new books and additional costs. If you have not been able to set funds aside according to your planned monthly budget from your Debt Counsellor (after all lockdown made a joke of most of our plans) then you may now want to cut as many costs over Black Friday and Christmas holiday season as possible. Talk to your family about what these cuts may look like and how everyone can contribute to cutting back on spending. Preparing now can help reduce your stress later. Particularly is this applicable for those who no longer can access more credit (like those under debt review). Be sure to rope the whole family into helping cut back on expenses and talk about being realistic of what they can expect this year end.



THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY A global pandemic is not going to leave a single industry unaffected. Everyone, everywhere has been impacted by Covid-19 during 2020. For some, this has meant illness or sadly the loss of loved ones, but for the majority of people and businesses the negative impact has been economic. You may wonder how the debt counselling industry has been affected by the Pandemic and subsequent lockdown. Has business been booming or has it dried up?


THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

THE EARLY WEEKS In the initial stages of lockdown, the majority of debt counselling practices sent everyone home. Two weeks became months. Smaller practices (Debt Counsellors who often worked from home or had a home office) were able to handle the change, with little immediate impact on their work routine. Some of the largest Debt Counselling groups or practices decided to spend a fortune on laptops, internet access (hot spot devices) and made an effort to enable a large portion of their team able to work from home. Many of the medium size practices were unable to bear the financial cost of getting their staff online at home, and simply sent everyone home, hoping that they could withstand the 2 week interruption to their workflow. Many were able to redirect phone calls to a select number of staff.




THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

THE INITIAL IMPACT ON CONSUMERS The majority of consumers were able to maintain their debt repayment during April, but during May, the calls began to come in as everyone realized that life was not going to return to normal anytime soon, and the extended lockdown was going to slash their income. The next few weeks can only be described as an overwhelming wave of emails, phone calls, sms and messages from desperate consumers asking for some guidance and help, even though they would not be able to make their regular debt review payment.


THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

LEVEL 3 Some Debt Counselling practices applied for and operated as essential financial services during level 5, and still made efforts to reduce staff numbers and practice social distancing etc. As levels dropped and everyone started going back to work, more practices organized for staff to either work from home or come into the office intermittently. With some reorganizing, many of the medium size practices were able to follow the example of large industry leaders, and almost get back to full steam ahead. Just as well, as every Debt Counsellor, country-wide, was now busy speaking to the long list of credit providers, sending documents, information and new temporary plans asking for payment holidays, or where applicable, claiming from credit insurance. Practices that had taken years to build up a list of clients, were simultaneously being contacted by every single client looking for assistance, resulting in a great deal of stress for the DC as well as their clients. With no blanket arrangements put in place by any industry body or regulator, each credit provider had different policies and requirements, resulting in a difficult and time consuming process of trying to help their consumers. By making arrangements for consumers to miss payments, or claim from insurance, it meant that most Debt Counsellors were now working overtime, and harder than ever to ensure that their income would not be slashed to nearly zero for possibly many, many months. Essentially it was more work, less pay or possibly even no pay.




THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

CONSUMER APPLICATIONS DRIED UP The common debt counselling fee structure means that half of the money that consumers ever pay for their debt review happens in the month they sign up. Due to consumers being unsure about their financial situation or paralyzed with fear and unable to commit to any long term arrangements, very few consumers signed up for debt review during the first few weeks and months of the lockdown. This meant that Debt Counsellors who were busy helping the majority of their clients miss payments were also not receiving cash inflow from new clients - a double blow to the cash flow of practices large and small.


THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

THE NEW NORMAL As time went by and more and more people were able to go back to work and things began to stabilize into a sense or normality, Debt Counsellors and their clients began to finally see what might realistically happen with their finances. A new wave or proposals to credit providers with adjusted figures (often for the same clients over again) had to be sent. This was almost a repeat of all the extra work that had just been done. By this stage Debt Counsellors now also had to put in extra effort to help protect consumer’s assets for those matters that had somehow fallen between the cracks and where unnecessary legal action had begun. Sadly, this resulted in massive legal bills and attorneys costs for the already financially stressed consumers. Over time, the larger practices (with many Debt Counsellors who work together and share support staff) began to report the number of new applications picking up. Interestingly, a lot of the clients now applying for help, were allegorically of higher LSM in many cases. Consumers began to realize that they needed help if they were going to survive 2020. While the number of new applications began to climb again, they by no means reached the levels of previous years. The larger practices, that managed to take on more clients correlated strongly to those who spent the most on advertising during this time. Many smaller practices have really struggled to find new clients and have spent most of their time servicing their existing clients (trying to assist those whose debt review had fallen apart due to retrenchments etc). They have simply not had the time to put in to finding new clients during this time. Clients they badly need to earn a living.




THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

WHAT DEBT COUNSELLORS SAY Debt Counsellor Jaco De Vos of Complete Debt Counselling says The admin work increased drastically due to issuing 17.3’s, receiving default payments and terminations. Also the office was put under huge pressure to assist consumer to issue 17.3’s and get supporting documents without being paid for the work. Although the Credit Providers said that they would assist the consumers, most of them are [now] demanding the arrears as well as the arranged payments. The amount of work has increased exponentially, while the income we generate from this is zero. We receive terminations on a daily basis, even though some were granted the payment holiday, and then more emails need to be sent with proof of acceptance of holiday period etc. There is “a whole lot of nothing” going on, with a whole lot of admin needed! Consumers are supporting unemployed (reduced income) family members, resulting in defaulting on their debt review repayments in order to supply their families with basic needs. Our paying consumers have reduced quite drastically, whilst new consumer numbers are picking up very slowly every month. We are doing a lot of new assessments and the outcome is that these consumers are over-indebted, but consumers are not joining.


THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

WHAT DEBT COUNSELLORS SAY Debt Counsellor David O’ Brien of Meerkat says: The average debt counselling client is financially fragile, and so the lockdown had an even bigger impact on their finances than the ‘average’ South African. We assisted our clients to claim on their Meerkat credit life policies, and on their bank issued insurance policies. We also assisted the clients to get the payment holidays being offered. However, the banks are now demanding that the holiday be made up, and this is very difficult, as the clients did not have a salary holiday, they had a salary gap. Many of our clients are now losing their jobs, as the economy shrinks, which makes it impossible for them to maintain their plans, if they haven’t got credit life insurance. I have heard that the industry is down as much as 15%, but Meerkat is bucking that trend, and we continue to grow our client base, as we have tried to protect them from the worst of the lockdown impacts, with the Meerkat insurance and emergency savings products. South African business people need to be a very resilient breed, to deal with the normal challenges of business, as well as the unique local scenarios of drought and load shedding. The lockdown and the virus have brought another set of challenges. As soon as the Level 5 lockdown was announced, we moved our key Meerkat DC staff to working from home, to ensure that our clients were fully supported over the difficult and worrying time. Our clients were very grateful for the uninterrupted support. Our Meerkat insurance business is an essential service, and we needed to maintain the staff in the office, through Level


5, to pay the claims as our clients submitted them. I am pleased to say that all claims were paid on time. Working from home is not easy for everybody, and I think that the glamour has worn off, especially for the parents in our team, who had to manage their children as well as their work. Now that we are on Level 1, we have staff attending the office, and we ensure that they remain healthy with full COVID protocols in operation. The extra stress and pressure of this very unusual year will mean that people really need a break over the year end.



THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

WHAT DEBT COUNSELLORS SAY The National Debt Counsellors Association which represents the largest debt counselling practices in South Africa says that The impact of lockdown has been two-fold in our industry. Firstly, new business activity was heavily impacted in earlier months. New business activity was very muted during most of the lockdown, however the last few months have seen an uptick in activity. Secondly, an unprecedented number of existing debt review clients faced difficulty in repaying their debt. Our members remained operational throughout the lockdown, so that we could best serve these clients who were placed on 17.3 payment pauses. The actual share of consumers who will return from 17.3s to full-paying status remains to be seen, as most South African businesses continue to grapple with the long term impact of the lockdown.


THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

CATCHING UP? DREAM ON Many credit providers who initially offered consumers payment holidays and concessions, have now started to ask for extra payments from these consumers to try catch up. With the economy being so bad right now, and bound to get worse in the months ahead, this is totally unrealistic and unachievable. If the push back from these credit providers escalates, it could turn into another wave of silly 86(10) terminations, which will then create even more work for Debt Counsellors, as they have to help their clients make 86(11) defenses at court to get the matter put back into debt review. Few Magistrates are likely to side with unreasonable and greedy credit provider applications against covid-19 affected clients, but that has never stopped greedy collections attorneys in the past. We can only hope the industry is able to avoid this and rather find ways to continue to help consumers while extending the repayment terms to make appliance for the chaos that has been 2020.




THE EFFECTS OF COVID-19 ON THE DEBT REVIEW INDUSTRY

WELL DONE DEBT COUNSELLORS Overall it has been just as tough a year for Debt Counsellors and their support staff teams as other industries. The difference for many has been that they have been doing more work than ever, trying to urgently help every single client all at once, while essentially making sure they get paid less or even nothing for months at a time. These hard working heroes are to be saluted for their colossal efforts, and have no doubt saved many of their clients from much financial heartache and mental stress. Well done to those consumers who have tried their hardest to stick to their repayment arrangements during 2020, keep up the good work.


REGISTER FOR FIVE DAY TRAINING AND GET ONE YEAR PANEL MEMBERSHIP AND ONE SHORT PROGRAM FREE

Y ONL

9 9 9 5 R

5 DAY ONLINE MEDITATION TRAINING 7-11 DECEMBER 2020 14-18 DECEMBER 2020

REGISTER NOW SHEENA@ADR-NETWORKSA.CO.ZA


DEBT REVIEW LESSON 3

If you just stop paying your monthly debt review payment it does not change the fact that you are under debt review (which will show on your credit report). It simply removes the protection you have while in the process.


What if...

YOUR CLIENT’S VEHICLE IS STOLEN OR WRITTEN OFF?

Is he really insured, and if so, properly? Could the insurer repudiate the claim because of his debt review status? As he cannot borrow, how does he replace his vehicle? Since he can’t get more credit, how does he replace his vehicle?

Meliorleaf is the first and only specialist in insuring the assets of people in debt review. We genuinely protect your clients… in partnership with you.

CALL US NOW 010 141 2799 | www.meliorleaf.co.za


MAXIMISING INSURANCE RELATED INCOME

PARTNERSHIPS How Meliorleaf partnerships with Debt Counsellors work. We keep you advised regarding your clients to ensure they are covered properly and remain covered. We remunerate you, ongoing, for what you choose to do: Some debt counsellors want to be actively involved in arranging and managing insurance relationships, and we fairly share commissions earned Some debt counsellors are also registered Financial Services Providers. They can advise clients and provide a full broking service, and are entitled to earn the full commission But, Meliorleaf understands that some debt counsellors cannot or do not want to be actively involved. However, they do want their clients to be properly insured: For these debt counsellors, Meliorleaf can provide a fully outsourced turnkey solution. What’s more, we will still provide you with ongoing remuneration on all active policies.

Are you interested in partnering with Meliorleaf? Call Sean or Elmarie today on 010 141 2799 CALL US NOW 010 141 2799 | www.meliorleaf.co.za


We are looking for a member to act as Secretary for 2021. All volunteers welcome. Please let us know on the Facebook group chat.

www.allprodc.org

Debt Counsellors Collective The iDDC would like to hear from members and other DCs about the struggles they face and continue to face as a consequence of the lockdown. What issues need to be escalated to the NCR?

BDCF is Lo

volunteers to

NEC in


ooking for

o serve on the

n 2021.

Check out our Podcasts Debt Review & Divorce Debt Review & Customary Marriages Deceased Clients Credit Provider Termination Applying for Debt Review After a Section 129 Letter Set off & Credit Agreements Drafting a Debt Review Application When is a Consumer Not Eligible For Debt Review? Creating Consumer Certainty amidst Economic Uncertainty

www.dcasa.co.za/faq

NDCA are ready to help consumers who are struggling with debt. Visit our site for more information


JOB AVAILABLE Debt Counsellor – Cape Town Are you a newer Debt Counsellor looking to join an exciting team of experienced fellow Debt Counsellors working in Goodwood, Cape Town? Join our well established team and enjoy experienced support assistants to help with administrative related tasks. Email CVs to arno@financedc.africa


JOB AVAILABLE Legal Manager To Lead Legal Department – Cape Town Debtline is looking for their next Legal Manager. If you have 3 years leadership experience, hold a legal qualification (advantageous) and have at least 2 years experience as a DC/within a DC firm, then you are who we are looking for! Email your CV to melissaj@debtline.co.za


Form 42

QUESTION How do you keep you clients documents safe? ANSWER Maximus has no storage limit and all the documents are stored at client level. Always available and always safe


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

contact us today for more information

086 111 2882

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

www.in2insurance.co.za


SERVICE D

CLICK THE C

DEBT COUNSELLORS

SUPPORT SERVICES

TRAINING

FINANCIAL

INSURANCE


DIRECTORY

CATEGORY

DO YOU WANT TO LIST YOUR COMPANY? directory@debtfreedigi.co.za

CREDIT BUREAUS

LEGAL

PAYMENT DISTRIBUTION AGENCIES

CREDIT PROVIDER CONTACT DETAILS & ESCALATION PROCESS


DEBT COUNSELLORS

GAUTENG

KWAZULUNATAL

FREE STATE


LIMPOPO

MPUMALANGA

NORTH WEST

EASTERN CAPE

NORTHERN CAPE WESTERN CAPE


PENNY WISE Cathy Foster Debt Counsellor – NCRDC1977 Penny Wise Debt Counselling Tel: (011) 679 1540 Fax: 086 719 3378 Mobile: 083 298 4467 Email: cathy@pennywise.co.za www.pennywise.co.za

Credit Matters South Africa’s Leading Debt Counsellors 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za

GAUTENG

Armani Debt Counselling Take the First Step to Financial Freedom Tania Dekker Tel: 011 849 3654 / 7659 www.armanigroup.co.za

Dynamix Debt Counselling TLC Alida Christie NCRDC2324 Office 1, 34 Beefwoodstreet, Vanderbijlpark, 1911 Tel: 079 520 4369 Tel: 016 100 8020 tlcdebt@mweb.co.za


Get

Specialist Debt Management Centre Beverley Ludick, NCRDC948 Pretoria Tel: 012 377-3557 Email: obligco@gmail.com Email: dc@obligco.co.za www.obligco.co.za

¨ debt relief with our help today!

016 423 3029 082 812 5442 info@resolutiondebt.co.za

Debt Correct DEBT

RE VIE W

S PE C IA L I S T S

J O N AT H A N B R O O KE S Director

079 599 6501 jonathan@debtcorrect.co.za All Debt Solutions www.debtcorrect.co.za CCDC Fast tracking your financial freedom Consumer Care Is our Priority. Tel: 0861 255 3328 / 021-557 9981 Tel: 018 462 4263 / 073 624 6949 Email: info@allds.co.za Email: info@ccdc.co.za www.alldebtsolutions.co.za www.ccdc.co.za https://www.facebook.com/ alldebtsolutions

Debt Correct DE BT

RE VI E W

SP E C IA L I S TS

0871531531 help@debtcorrect.co.za www.debtcorrect.co.za


Financially stressed? We have lifted the financial burden of more than 150 000 South Africans.

086 999 0606 DEBT NO MORE - NCRDC1973 Christelle du Toit info@debtbusters.co.za www.debtbusters.co.za

Tel: 016 423 6301 Cell: 083 321 6731 FAX: 086 219 3306 Email: admin@debt-no-more.co.za

GAUTENG

Let DebtBusters be the champion in your corner.

MV Business Empowerment 9 River Road Morning Hill Bedfordview (next to Eastgate mall) Tel: 083 490 3339 velaphi@infitech.co.za


Pay off your debt in the Personalpossible Professional shortest �me.

service – no call centre

Expert free confiden�al advice at first Your debt is our priority consulta�on Protect your assets from repossession Stop threatening calls from Save money without taking a loan creditors & repossession of Stop threatening calls & le�ers your assets. Start living your life again

082 927 7324 petra@streamlinedebt.co.za

Creators In Financial Wellbeing NCRDC677 You Are Not Alone We’ll handle your creditors so you don’t have to! 1 Dingler Street, Rynfield, Benoni 0861 10 11 00 info@debtmend.co.za www.debtmend.co.za

www.streamlinedebt.co.za PETRA SWANEPOEL : NCRDC1963

Get your own dedicated Debt Counsellor from beginning to end. Our team of friendly & efficient support staff are ready to answer your ques�ons.

021 204 4711 067 211 4913 info@debteezy.co.za www.debteezy.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


Financially stressed? We have lifted the financial burden of more than 150 000 South Africans.

086 999 0606 National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za

info@debtbusters.co.za www.debtbusters.co.za

Let DebtBusters be the champion in your corner.

KWAZULUNATAL

The simple way to a debt free, stress free life! DEBT COUNSELLING Debt Review Specialists 23 Coronation Road Mithanagar Tongaat 4399 Tel: 071 222 9481 Tel: 032 944 3446 admin@kmadebt.co.za www.kmadebt.co.za

FINANCIAL COACHING MONEY MANAGEMENT EMPLOYEE ASSISTANCE PROGRAMMES 031 303 3690 / 084 250 2356 romie@debtfinesse.co.za www.debtfinesse.co.za

FINESSE


Get

¨ debt relief with our help today!

082 937 7874 082 812 5442 denise@kzndebtcounselling.co.za

Credit Matters South Africa’s Leading Debt Counsellors 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za

“Helping you the SMART way” 0860 061 008 info@smartdebtadvisors.co.za www.smartdebtadvisors.co.za

Get your own dedicated Debt Counsellor from beginning to end. Our team of friendly & efficient support staff are ready to answer your ques�ons.

021 204 4711 067 211 4913 info@debteezy.co.za www.debteezy.co.za


National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za

FREE STATE Financially stressed? We have lifted the financial burden of more than 150 000 South Africans.

086 999 0606 info@debtbusters.co.za www.debtbusters.co.za

Let DebtBusters be the champion in your corner.

Credit Matters South Africa’s Leading Debt Counsellors 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

LIMPOPO Financially stressed? We have lifted the financial burden of more than 150 000 South Africans.

086 999 0606 info@debtbusters.co.za www.debtbusters.co.za

Let DebtBusters be the champion in your corner.

Credit Matters South Africa’s Leading Debt Counsellors 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za


GMC Debt Solutions 52 Kerk Street Lydenburg Tel: 087 802 7054 Tel: 087 151 1034 www.gmcdebtsolutions.co.za

National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za

MPUMALANGA Financially stressed? We have lifted the financial burden of more than 150 000 South Africans.

086 999 0606 info@debtbusters.co.za www.debtbusters.co.za

Let DebtBusters be the champion in your corner.

Credit Matters South Africa’s Leading Debt Counsellors 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za


We are passionate about helping people become DEBT FREE! 022 713 3766 marius@drs-debt-help.co.za facebook.com/drsdebthelp www.drs-debt-help.co.za NCRDC1670


National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za

Credit Matters South Africa’s Leading Debt Counsellors 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za

NORTH WEST Financially stressed? We have lifted the financial burden of more than 150 000 South Africans. Depopulating a generation of over indebted and populating a debt free generation. Office No. 6, Prime Pharm Building, 36 Dr Nelson Mandela Drive Tel: 0186320053 Tel: 0877026744 Email: papi@maaudebts.co.za

086 999 0606 info@debtbusters.co.za www.debtbusters.co.za

www.maaudebts.co.za

Let DebtBusters be the champion in your corner.


National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za

NORTHERN CAPE Financially stressed? We have lifted the financial burden of more than 150 000 South Africans.

086 999 0606 info@debtbusters.co.za www.debtbusters.co.za

Let DebtBusters be the champion in your corner.

Credit Matters South Africa’s Leading Debt Counsellors 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

Credit Matters South Africa’s Leading Debt Counsellors 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za

EASTERN CAPE Financially stressed? We have lifted the financial burden of more than 150 000 South Africans.

086 999 0606 info@debtbusters.co.za www.debtbusters.co.za

Let DebtBusters be the champion in your corner.


National Debt Advisors Fighting For Consumer Justice Tel: 021 007 1688 www.nationaldebtadvisors.co.za

Drastically reduce your monthly debt repayments Let US help 0861111863 Regain control of your finances www.debt-therapy.co.za

" There is no Dignity quite so Impressive and No Independence quite so Important, as Living within your Means. - Calvin Coolidge "

WESTERN CAPE

For your Convenience Our Range of Services are Available to you Anywhere in South Africa! Jackie Coetzee 079 317 8557 documentswc@fusiondc.co.za

“There is no dignity quite so Impressive and No Independence quite so important as Living within your Means - Calvin Coolidge” For your Convenience Our Range of Services are Availble to you Anywhere in South Africa! Jackie Coetzee 079 317 8557 022 713 2021 documentswc@fusiondc.co.za

CHOOSE YOUR FINANCIAL FREEDOM TODAY Tel: 021 204 8001 • Email: dc@ffsdc.co.za

www.financialfreedomsolutions.co.za dc@ffsdc.co.za www.financialfreedomsolutions.co.za


ISISEKO DEBT HELP Get Your Life back on track TEL: 087 230 0223 FAX: 086 551 1649 EMAIL: makanti@isiseko.co.za WEB: www.isiseko.co.za

WESTERN CAPE

Credit Matters South Africa’s Leading Debt Counsellors 14th Floor, The Pinnacle Cnr Strand & Burg St Cape Town Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za

All Debt Solutions Fast tracking your financial freedom Tel: 0861 255 3328 / 021-557 9981 Email: info@allds.co.za www.alldebtsolutions.co.za https://www.facebook.com/ alldebtsolutions


NCRDC1142 No 2 Golden Isle Building 281 Durban Road, Oakdale, Bellville, 7535 Tel: 086 111 3749 Email: help@zerodebt.co.za www.zerodebt.co.za

DebtZen

for peace of mind

We are passionate about helping people become DEBT FREE!

021 987 1835 021 987 2232

022 713 3766

065 939 9886

marius@drs-debt-help.co.za

leads@debtzen.co.za

facebook.com/drsdebthelp

www.debtzen.org

www.drs-debt-help.co.za

NCRD3032

NCRDC1670


Financially stressed? We have lifted the financial burden of more than 150 000 South Africans.

086 999 0606 info@debtbusters.co.za www.debtbusters.co.za

Your Guide to Financial Wellness and Recovery 0861 229 922 info@debthero.co.za www.legalhero.co.za

WESTERN CAPE

Let DebtBusters be the champion in your corner.

www.debtcentre.co.za


“Helping you the SMART way”

DEBT

0860 061 008 WE’LL CREATE A PLAN TO GET YOU OUT OF DEBT

info@smartdebtadvisors.co.za www.smartdebtadvisors.co.za

Get your own dedicated Debt Counsellor from beginning to end. Our team of friendly & efficient support staff are ready to answer your ques�ons.

021 204 4711 067 211 4913 info@debteezy.co.za www.debteezy.co.za

065 874 7942 debt@cida.org.za www.cida.org.za


SUPPORT SERVICES

011 451 0041 0860 072 768 www.dcmax.co.za

DC Opera�on Centre (PTY) Services: 17.1, 17.2, Proposals Court Applica�ons Call Centre Payment Division Contact Elmarie 011 394 8042 083 232 1908 admin@dcopera�ons.co.za www.dcopera�ons.co.za

COMING SOON

TRAINING


086 126 6562 debt@one.za.com www.one.za.com

INSURANCE BEST RATES IN THE INDUSTRY

50979


LEGAL

www.embattorneys.co.za

Liddles & Associates “It always seems impossible until it is done” N. Mandela (T) 021 930 5790 (F) 0866070940 (E) frontdesk@liddles.co.za www.liddles.co.za

Steyn Coetzee Attorneys / Prokureurs Adri de Bruyn 11 Market Street / Markstraat 11, Paarl, 7646 Tel: 021 872 1968 Fax: 021 872 2678 adri@steyncoetzee.co.za

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


082 974 0866 Your Debt Counselling Attorneys Johannesburg | Cape Town Andre Van Zyl 021 494 4862 Kim Armfield Attorney & Family Law Mediator Address: Unit 1B, FinansHuis, 7 Voortrekker Road, Bellville Tel: 021 949 1758 / 021 945 2526 Office cell: 084 8588 284 kim@legalwc.co.za

info@bassonvanzyl.com

We are a Port Elizabeth based law firm capable of assisting Debt Counsellor’s throughout South Africa with matters within the following areas of jurisdiction:

carla@cvlaw.co.za

Port Elizabeth; New Brighton; Motherwell; Uitenhage; Hankey; Jeffreys Bay; and Humansdorp

www.cvlaw.co.za 082 974 0866

carla@cvlaw.co.za www.bassonvanzyl.com

Debt Review Applications in Gauteng

EMAIL yolande@ydeattorneys.co.za CELL 071 870 9535

grove4@grovelaw.co.za www.grovelaw.co.za

TEL 061 250 4080

www.cvlaw.co.za


PAYMENT DISTRIBUTION AGENCIES

DC Partner 044 873 4530

COLLECTNET +27 12 140 0602

Hyphen PDA 011 303 0060

intuitive 0861 628 628


SYSTEM PROVIDERS

FINWISE - INNOVATIVE DEBT M

Tel: 011 451 0041 Tel: 0860 072 768 www.maxpayments.co.za

Debt Review Software Tel: 016 004 0031

South Africa’s premier debt management solution www.finwise.biz

‘’ I was pleasantly surprised by our experien new system is intuitive and e Debt counsellor Eas


CAPITEC CONTACT DETAILS Form 17’s Proposals Court documents General Queries Refund Requests / Cancellation of Debit Orders Complaints Insurance Certificates Sharecall Contact Number

ccsforms17@capitecbank.co.za ccsproposals@capitecbank.co.za ccsdebtrevieworders@capitecbank.co.za ccsdebtreviewqueries@capitecbank.co.za ccsrefundrequests@capitecbank.co.za ComplaintManagement@capitecbank.co.za coming soon 086 066 7783 - Select Option 2







DC QUERY PROCESS NEDBANK DRRS Debt Counselling Query Resolution Contact Points and Escalation Options

Fax or Email submissions (Level1) Email: DebtCounsellingQueries@nedbank.co.za Fax: 010 251 0055

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 Team Leader (Level 2: First Escalation) Dcescalation1@nedbank.co.za

Attended to by Senior Manager (Level 3: Final escalation) Dcescalation2@nedbank.co.za

To be used as a first point of contact for all written communication

To be used only where no resolution is found from first point of contact after 5 business days

To be used only where no resolution is found from the first escalation after 2 Business days

www.nedbank.co.za


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

ESCALATION PROCESS DETAILS COMING SOON


ESCALATION PROCEDURE *Please do not CC multiple email addresses*

STEP

FIRST POINT OF CONTACT

01

Applications, COBs, Notice of Rejections/17W Proposals Court Applications & Orders Terminations, Re-instatements, Settlements, General Queries, Refunds

STEP

FIRST ESCALATION

02

General Queries, Terminations and Account Enquiries, Court ESCALATION DAY 5 COBs & 17.7s ESCALATION DAY 7 Proposals ESCALATION DAY

STEP

03

Applications, Notice of Rejections/17Ws COBs Woolworths Truworths RCS Foschini Sanlam Mr Price Group JD Group Capfin ConnectFin Full House Retail Proposals Court Applications & Orders Terminations (Proof of Payment) Updated Balances, Settlements, General Queries

applications@consumerfriend.co.za proposals@consumerfriend.co.za courts@consumerfriend.co.za customeraccounts@consumerfriend.co.za

charmainer@consumerfriend.co.za woolworthscob@consumerfriend.co.za truworthscob@consumerfriend.co.za rcscob@consumerfriend.co.za tfgcob@consumerfriend.co.za sanlamcob@consumerfriend.co.za mrpcob@consumerfriend.co.za jdgcob@consumerfriend.co.za capfincob@consumerfriend.co.za connectfincob@consumerfriend.co.za fhcob@consumerfriend.co.za tracey@consumerfriend.co.za tusani@consumerfriend.co.za suspense@consumerfriend.co.za candicec@consumerfriend.co.za

SECOND ESCALATION Should you not receive a response within two business days after the first escalation, please email complaints@consumerfriend.co.za

DReX CONTACT DETAILS

OFFICE CONTACT DETAILS

DReX Related Queries DReX Escalation

Telephone: Email:

drexsupport@consumerfriend.co.za justin@consumerfriend.co.za

+27(0)31 251 4151 info@consumerfriend.co.za


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.