WHO SHOULD YOU TELL?
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
WHO SHOULD YOU TELL ABOUT YOUR DEBT REVIEW?
WHO SHOULD YOU TELL?
TO TELL... OR NOT TO TELL?
Debt is a sensitive subject. Most of us don’t really want to talk about our debt because we fear being judged by others. Which is kind of funny because these days everyone has so much debt. Still, we are shy to talk about it.
Fortunately for many people, they have been able to get over this fear and finally talk to a professional Debt Counsellor and get advice, perhaps even entering debt review.
If you have decided to enter debt review, keeping it a secret might seem like the best way to avoid awkward questions. But opening up to the right people can make a world of difference.
It’s not about telling everyone—it’s about sharing this important part of your financial journey with those who can support you and help you succeed.
Let’s consider who you might want to tell about your debt review.
WHO SHOULD YOU TELL?
YOUR PARTNER OR SPOUSE
If you’re married or in a committed relationship, your partner should be the first to know. Debt impacts both of you, especially if you’re married in community of property, where you legally share all your debts.
Hiding debt can lead to mistrust, and constant fights about money which can cause strain on your relationship. On the other hand, being honest about your situation and creating a plan as a team will not only make the process smoother but also bring you closer together.
Working together against the debt strengthens your relationship and prevents misunderstandings.
WHO SHOULD YOU TELL?
YOUR KIDS
Children don’t need to know every detail of your finances, but they should understand the basics of what’s going on in the home.
Explaining why they can’t have that new toy or expensive holiday right now teaches them important lessons about money and patience. It also helps them feel included in the family’s journey.
Kids are often more understanding than we expect, and when they know why certain changes are happening, they’re more likely to cooperate and support your new budgetfriendly lifestyle.
A lot will depend on their age, of course, and over time you may explain the situation in more detail depending on what they can handle.
WHO SHOULD YOU TELL?
YOUR FAMILY
Telling close family members about your debt review can help you get the support you need.
Your family might not be able to help financially (and if you are in debt review you don’t now need them to), but emotional encouragement is just as important.
Family gatherings and gift giving season will become less stressful when they understand why you’re not spending as much as before. Being upfront with those closest to you can prevent misunderstandings and show them that you’re taking control of your financial situation.
Your family love you and want the best for you. Keep them in the loop if you can.
WHO SHOULD YOU TELL?
YOUR FRIENDS
True friends want what’s best for you. They do not want you to be stuck in debt for year and years.
They will, no doubt, be happy to hear you have a plan to deal with your debt stress and may even notice how happy you look all of a sudden.
Letting your closest friends know about your debt review can stop them from unintentionally pressuring you to overspend. Whether it’s skipping an expensive night out or saying no to a trip, your friends will be more understanding if they know why you make the decisions you do.
There is another way that your friends can help you make a success of your debt review. Sharing your journey with those closest to you also creates a level of accountability—you’re less likely to break your budget when the people around you are cheering you on.
Your friends can be a big resource in helping you stick to your financial goals and your debt review.
WHO NOT TO TELL WHO SHOULD YOU TELL?
While it’s helpful to share information about your debt review with close loved ones, not everyone needs to know all your personal business.
Your boss and colleagues, for example, don’t need details about your financial situation. Keeping work and personal matters separate often helps maintain professionalism. Sharing too much at work can even lead to unnecessary gossip or misunderstandings.
Note: If you apply for certain types of positions dealing with finances there may be special requirements for you to give permission for companies to look at your credit bureau report which mentions your debt review. Most positions however do not require such access to sensitive financial information.
Focus on opening up to people who will genuinely support you, not those who might judge or misuse the information.
WHO SHOULD YOU TELL?
ONE DAY YOU WILL WANT TO
TELL EVERYONE
Debt review is a big step, and sharing your journey with the right people can keep you motivated and on track.
By involving those who matter most, you’ll create a support system that helps you stay committed to the process. You can avoid misunderstandings and get support from those closest to you. Get your family and friends on your team rather than leave them in the dark.
One day when you’ve finally paid off all your debts, you will be so happy that you will probably want to tell everyone about your successful debt review because debt free is something to be really proud of.
For now, tell the right people about your debt review.
FROM THE EDITOR
“Slow and steady wins the race”. That’s what they say.
That’s certainly true of dealing with debt. Debt is one of those things you have to consistently and progressively chip away at. Month by month, payment by payment you can make progress and drag yourself towards financial freedom.
Those in debt review often have to slowly work for 2,3 or even 5 years to totally get out of debt. Now, that might seem like a long time but these days most car loans are over 5 to 7 years so, actually it’s not that long a time to be sorting out a lot of debt. Still, it takes consistent focus and consistent payments.
If you were consistent and made your December debt review payment - well done! Not everyone made it through. In fact, it is said that perhaps 8% of all those in debt review dropped out of the process this past December. That’s a lot of people who, for one reason or another, did not do what you have managed to do.
2024 was not an easy year for many consumers and we saw a large number of people sign up for debt review. The number of people in debt review hit new all time highs.
Last year was also one of the best years ever for people getting clearance certificates for successfully completing debt review. This is something to celebrate. It shows that debt review can and does work. It gets people back into the credit market, better equipped to make good choices about handling credit.
So, what does your 2025 look like? Is it full of opportunities? Will you take the next steps on your journey? Will you find the right stepping stones towards your goals?
Hopefully, whatever 2025 turns out to be like, the months ahead will bring you closer to your goals . And whatever those goals are, it is good to take it slow and steady. Keep a steady pace, be consistent and you will make progress.
If it’s taking on more clients to help - just keep advertising, keep promoting, keep going. If it’s getting out of debt - make those payments. Chip, chip, chip. Keep pushing, don’t give up, be more stubborn than the factors that could hold you back and we are confident that you will win the race to become debt free.
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. We are an Ai friendly publication and enjoy working with our future overlords.
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THEY SOLD HIS HOUSE ON AUCTION
DON’T WORRY. WE WON’T
GO TO COURT
In a victory against a major bank, homeowner Prenash Somlal convinced the Gauteng High Court to overturn a default judgment that led to the sale of his home.
Mr Somlal owed the bank some money on his bond. He and the bank disagreed about how much was owed. Then the bank began threatening legal action. The initial judgment against the consumer was granted when Mr Somlal did not attend court after being assured by a bank employee that the case would not proceed.
Even though he had been told the matter would go no further while they were trying to sort the matter out, the Bank did actually go to court. As a result, the court allowed the sale of his property based on incorrect calculations provided by the bank. The bank obtained a default judgment for an amount it claimed he owed, and his property which was valued at R1.4 million was sold at auction for a reserve price of only R700,000.
This was all going on while Mr Somlal and his elderly mother were living in the house and while he was still corresponding to the bank about how much was actually owed to them (incl arrears on the municipal account).
Imagine Mr Somlal’s shock at discovering the house had been auctioned.
THEY AUCTIONED OFF HIS HOUSE
FIGHTING TO GET HIS HOUSE BACK
In an effort to set things straight, Mr Somlal took the matter to the Gauteng High Court to fight to set aside the default judgment and the subsequent sale. He was in for a hard fight.
When the matter got to High Court all the facts and figures were looked at in detail and several errors were discovered. One such significant error was what the bank said was owed on levies. The bank told the court he owed R61,076 in levies, but when investigated the municipal account showed only R1,276 was actually owed.
The bank later said this R60 000 difference was a “typing error,” which Judge Nelisa Mali deemed both “unfortunate” and critical to the case. Mr Somlal also highlighted contradictions in the amounts claimed by the bank at different times:
Before the Default Judgment the bank said he owed R124 333. After securing the default judgment, the bank issued him a statement showing he owed R94,488.
Judge Mali noted this discrepancy as a serious injustice, stating that the reserve price for the sale would have been different had accurate figures been presented.
THEY AUCTIONED OFF HIS HOUSE
A WIN FOR THE CONSUMER
In the end, the court found that the default judgment had been granted in error and set it aside. A big win for Mr Somlal and a big relief for his elderly mother. It was a long, expensive and tiring fight but some battles are worth fighting.
This case reminds us that banks can and do make errors and "typing" mistakes, and just how important it is for consumers to keep records of all correspondence, statements and agreements. You never know when you might need them.
It also highlights the need for consumers not to just take bank employees or collections agents at their word over the phone when they say that there will be no further legal action. It is important to get any such agreements in writing or to ensure you go and defend any legal action.
DEBT REVIEW Credit Life Insurance
Did you know that you probably have small insurance policies on all your credit?
That’s right. When you took out credit, all that time ago, you probably also agreed to a small payment towards insuring payment of that credit each month. Many times, this type of insurances makes sure the credit providers get paid if you die or are retrenched.
CREDIT PROTECTION
CREDIT PROTECTION
Have you applied to go under debt review? Are you restructuring your monthly expenses? Would you like to insure your debt?
Why not insure all your outstanding accounts in a single ONE Credit Protection Policy?
Have you applied to go under debt review? Are you restructuring your monthly expenses? Would you like to insure your debt?
BENEFITS OFFERED:
• Death – we settle the account
Why not insure all your outstanding accounts in a single ONE Credit Protection Policy?
• Temporary Disability – we pay your installment for 12 months
• Permanent Disability – we settle the account
BENEFITS OFFERED:
• Critical Illness – we pay your installments for 3 months
• Death – we settle the account
• Retrenchment – we pay your installments for 12 months
• Temporary Disability – we pay your installment for 12 months
• Permanent Disability – we settle the account
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 for less.
• Critical Illness – we pay your installments for 3 months
• Retrenchment – we pay your installments for 12 months
The following financial obligations or debt can be covered on the ONE Credit Protection Policy:
• Credit Cards
• Overdrafts
At a rate of R2.95 per R1000 unsecured/short-term
and R2.00 per R1000 on mortgages and you can now insure your debt for less.
• Personal Loans
• Home Loans
• Retail Accounts
The following financial obligations or debt can be covered on the ONE Credit Protection Policy:
• Rental Agreement
• Credit Cards
• Maintenance Orders
• Overdrafts
• Personal Loans
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.
DEBT MANAGEMENT AROUND THE WORLD
THE STRUGGLE IS EVERYWHERE AROUND THE WORLD
Some places like Denmark have crazy debt to household income ratios (252.18%) but the global debt to income ration (of the planet) sits close to 237% of GDP.
Global debt is staggering at over $300 Trillion (which includes gov and business debt) but it is even more scary to learn that global public debt (for ordinary folks like you and i) sits at around $97 trillion.
Basically, debt is everywhere. Thus, there has been a real global need to develop policies and legislation to try help consumers repay that debt.
Here in South Africa, we are very fortunate to have the National Credit Act and the provision of debt review. This world-leading piece of legislation offers consumers a dignified way to deal with overindebtedness, through the Courts (or NCT).
You may wonder though, if SA is the only place with such legislation or do other countries also have similar provisions for their citizens?
Well, with debt being so rampant everywhere there are lots of countries that have some sort legislation in place relating to debt. While most provide for rules about debt collection and some form of sequestration there are a few stand-out countries who have progressive assistance for over-indebted consumers.
DEBT MANAGEMENT AROUND THE WORLD AROUND THE WORLD
Here are a few other places in the world with interesting consumer debt management policies:
United Kingdom
In the UK it is mostly charities or the government who assist consumers locked in debt. They have programs in place such as:
• Debt Management Plans (DMPs): Arranged through charities like StepChange or government-backed services.
• Individual Voluntary Arrangements (IVAs): A formal legal process to repay debts in a structured way.
• Breathing Space Scheme: Provides temporary relief from creditor enforcement while seeking debt advice.
Ireland
Debt help in Ireland is mainly focused on payment adjustments related to unsecured debts.
• Debt Settlement Arrangements (DSAs): Agreements for unsecured debt repayment.
• Personal Insolvency Arrangements (PIAs): For secured and unsecured debt restructuring under the Insolvency Service of Ireland (ISI).
Marius Mostert
United States
The average American citizen has around R2 Million in debt.
• Credit Counseling Programs: Nonprofit organizations help negotiate reduced payments through what are known as debt management plans.
• Chapter 13 Bankruptcy: A court-supervised repayment plan for individuals to manage their debt over time. [It makes you picture Steve Carell shouting: “I Declare Bankruptcy” in The Office, only to find out it is slightly more complicated.]
Canada
SA law about debt drew heavily from past Canadian policies, Their systems are quite similar to SA debt review, except in Canada they prefer to avoid court and offer mostly nonprofit services.
• Consumer Proposals: A legal option to negotiate with creditors for reduced payments over a set term.
• Credit Counseling Services: Nonprofit agencies assist with structured repayment plans.
Australia
“G‘day mate. Want some debt?”
“ Yes, please!!”
The average Australian household has a whopping R3 Million in debt (and they have to deal with giant spiders, hungry crocs and fire tornados too).
• Debt Agreements: These agreements are legally binding arrangements to pay off debt in affordable installments.
• Financial Counselling Services: Free government-funded counseling for people facing financial hardship.
New Zealand
Home to many sheep and film crews shooting Lord of the Rings movies, NZ has some options for those dealing with debt.
• No Asset Procedure (NAP): NAP is aimed at people with no means to repay their debts, offering relief for unsecured debt under certain thresholds.
• Debt Repayment Orders:
A bit more similar to debt review in some ways these orders are managed through courts to help debtors repay in structured ways.
AROUND THE WORLD
Germany
• Debt Counseling Services (Schuldnerberatung): Free or low-cost services provided by local governments, charities, and churches to assist with debt restructuring.
• Insolvency Proceedings: There are several legal options to manage debt and to try and avoid bankruptcy unless needed.
Norway
• Debt Settlement Scheme (Gjeldsordning): A government-backed plan that helps individuals restructure debt to regain financial stability.
France
• Over-Indebtedness Procedure (Procédure de Surendettement): Administered by the Banque de France, this procedure allows individuals facing severe financial difficulties to apply for debt relief, which may include debt rescheduling, reduction, or cancellation, depending on the individual's situation.
Sweden
• Debt Restructuring Program (Skuldsanering): A governmentadministered program to help heavily indebted individuals by reducing and restructuring debt.
Portugal
• Extra-Judicial Procedure for Debt Settlement (Procedimento Extrajudicial de Regularização de Situações de Insolvência - PER): A mechanism that allows individuals to negotiate debt restructuring agreements with creditors outside of court, aiming for a more efficient resolution of over-indebtedness without getting lawyers involved.
Greece
• Household Insolvency Law: Commonly known as the "Katseli Law," it provides over-indebted individuals the opportunity to restructure or discharge their debts through a court-approved repayment plan, aiming to offer a fresh financial start.
Spain
• Second Chance Mechanism (Ley de la Segunda Oportunidad): This legal framework enables individuals and sole proprietors to restructure or cancel their debts (but only after attempting an out-ofcourt settlement), offering a second chance to those facing insurmountable financial challenges.
Italy
• Debt Restructuring Agreements (Accordi di Ristrutturazione dei Debiti): Italian law allows over-indebted individuals to negotiate agreements with creditors to restructure their debts, subject to court approval, providing a legal pathway to manage and reduce personal debt burdens.
AROUND THE WORLD
Switzerland
The stats show that 1 in every 12 people in Switzerland are impacted by poverty. With over 700 000 people living near or below the poverty line. Switzerland offers support for individuals facing debt challenges through various services:
• Debt Counseling Services: Various organizations provide comprehensive debt counseling, including personal consultations, online advice, and telephone support. They assist individuals in finding solutions to debt problems and implementing them effectively.
• Debt Management Plans: Individuals can work with debt advisors to create realistic debt management plans, aiming to regain control over their financial situations.
Brazil
• Consumer Debt Renegotiation Programs: Various initiatives, often supported by government agencies and consumer protection organizations, facilitate negotiations between consumers and creditors to restructure and settle debts, aiming to reduce the burden of over-indebtedness among Brazilian citizens.
AROUND THE WORLD
Namibia
In Namibia, while there isn't yet a specific government program akin to South Africa's debt review process, they are busy working on a Consumer Credit Bill that may eventually include such provisions. There are already some excellent service providers who provide credit counselling using existing (somewhat outdated) legislation.
• Debt Administration: As outlined by the Namibia Financial Institutions Supervisory Authority (NAMFISA), debt administration provides individuals with "breathing space" to repay their debts in full by reducing monthly payments to an affordable amount. This approach ensures that individuals have sufficient funds for basic needs while managing debt repayments.
• Debt Consolidation: Financial institutions, such as Old Mutual Namibia, offer debt consolidation services. This involves combining multiple debts into a single loan, potentially with a lower interest rate, making it easier to manage repayments.
LEARNING FROM EACH OTHER AROUND THE WORLD
Whether they call it “counseling” or “counselling” or perhaps even “Schuldnerberatung”, it is all aimed at helping consumers.
Of course, each country’s system varies in terms of exactly how it’s administered and who qualifies, but the common goal is to provide legal, structured debt relief to individuals in financial distress.
Over the next few months, Debtfree Magazine hopes to bring you some additional insights into how such programs run in other countries.
This may present us with not only a better understanding of what is available around the world but may also highlight things that we can all learn from each other.
DEBT REVIEW Are You Tracking Your Progress?
Do you know exactly how much debt you have?
Most people try not to think about debt too much and don’t like to look at the numbers too closely. They just focus on how much they owe this month.
Debt Counsellors find that those consumers who track their progress towards paying off their debts are most likely to be successful in actually doing so. Having a clear understanding of not only (1) what is owed each month but (2) how much is owed and (3) how many more payments are left, can help keep consumers focused on getting out of debt for good.
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WHAT IS CONTINUED PROFESSIONAL DEVELOPMENT?
PROFESSIONAL DEVELOPMENT
BECOMING A DEBT COUNSELLOR
To become an NCR registered Debt Counsellor, suitable candidates have to complete a short course about the National Credit Act and then apply to the National Credit Regulator to practice as a Debt Counsellor.
After the NCR do some checks, they may issue the applicant with registration as a Debt Counsellor. The Debt Counsellor will receive an annual certificate (as long as they pay their fees) and a Sticker to put outside their office.
Many people who complete the short course say they have a global view of the debt review process but they have to start work as a Debt Counsellor to get practical hands on experience. This helps them go from theory to how things work in practice. Most say it is a steep learning curve.
PROFESSIONAL DEVELOPMENT
RUNNING A PRACTICE
Not only is debt counselling is a complex process but those who begin working in the industry soon find there are other complexities such as running an office, managing staff, paying bills and get new clients.
Add to these, requirements such as set by the Occupational Health & Safety Act, PoPI Act, Basic Conditions of Employment Act, the Magistrates Court Act and more.
Running a debt counselling practice is not for the faint of heart.
Even those who qualify while working for a practice or qualify then join an existing practice have lots to learn and lots to do.
PROFESSIONAL DEVELOPMENT
THINGS CHANGE
As with any legislation, there are areas of the National Credit Act which have only been clarified through legal action over the years. There are other parts of the process which have no set rules. In many such areas the National Credit Regulator has tried to bring uniformity by issuing non binding guidelines on various topics.
Such guidelines occasionally have to be adjusted as they become out of date or as new court cases give clarity or new related legislation comes out.
All this means that debt review as it is done today is not the same as 15, 10 or even 5 years ago. Those stuck in the past, often find they run into push back from industry role players or even fall afoul of the Regulator.
PROFESSIONAL DEVELOPMENT
CONTINUED PROFESSIONAL
DEVELOPMENT
In most established industries (Yes, debt counselling is now almost at that point), industry parties or industry bodies drive initiatives to help keep registrants up to date with the current industry landscape.
It is aimed at helping registrants learn and improve skills and expand their knowledge. This is sometimes done via self-learning, workshops, conferences, online course, industry reading or professional networks.
KEEPING TRACK
Many times, CPD is linked to some system of measuring participation in such ongoing learning. This could be a points system with professional development points or units.
Attending or participating in such continued professional development in one form or another gives the registrant access to a certain amount of points and these contribute towards an annual goal.
So, they may attend a workshop at the start of the year and get some points, read some articles during the year and get points and attend a professional conference near the end of the year and receive points. These add up across the months and progressively help the registrant achieve their annual target.
The point is not to make such learning impossible or complicated. Rather it should be simple and easy to access with realistic goals.
DEBT COUNSELLORS AND CPD
There is a growing push by various industry parties to see such continued professional development processes put in place for Debt Counsellors.
This will help those who have registered for a both a short or even a long time to keep up to date with new developments in the industry.
Associations like DCASA and NDCA have lots of members and will probably play a crucial role in any such developments. Debtfree Magazine will also be a source of industry reading.
It remains to see exactly how continued professional development will role out in the debt review industry but it is a good thing which can help keep Debt Counsellors learning and improving their skills.
You can click this link to complete a small review of this article and see what this process is like.
Credit Life Insurance
Financial Gains, Client Savings: Collaborate for Success
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Why Partner With Us?
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•New loans can be included under this policy
BENEFITS OF ACTIVE SOCIAL MEDIA ACCOUNTS
BENEFITS OF SOCIAL MEDIA
DO YOU NEED SOCIALS?
These days we all have personal social media accounts. From Instagram to Facebook, we are glued to our screens looking for entertainment, education and escapism.
We also rely on social media to do our homework about people we plan to do business with.
Corporations check out social media posts by potential job candidates and consumers research products and services before making purchases.
Do debt counselling practices need social media accounts?
BENEFITS OF SOCIAL MEDIA
CONSUMERS DO RESEARCH ON SOCIAL MEDIA
If a consumer has come across your brand and decides to do a little homework, they will check out your website and social media pages.
If they find your website was made in the stone ages (think: non responsive pictures that do not resize for people on their phones or tablets), then you are immediately making a bad impression.
If your last social media post was from 3 years ago, then you also seem like you may have gone out of business. For people who commonly post on their social media each day or each week, no recent posts sends up red flags and can cost you potential clients.
BENEFITS OF SOCIAL MEDIA
TIME TO GET
SOCIAL
So, you do need to keep your social media channels active to show consumers you are a serious business and are still operating.
You do not need to be the next Mr Beast with fresh content out every hour of every day but having an active social media presence is vital these days.
Tip: Rather than spread yourself too thin and end up posting intermittently on a dozen different social media networks, rather focus on one or two which your clients use the most. Not sure which ones they use? Ask your clients.
DEBT REVIEW
CREDIT REPORTS & JOB APPLICATIONS
Did you know that a potential employer can’t just ask everyone for a credit report?
A potential employer can only ask your permission to draw a credit bureau report if the job you are applying for specifically has to do with financial responsibilities (like handling money, approving credit or managing accounts). If the position does not involve finances they are not allowed to ask and you can simply say no thanks. If they discriminate against anyone for saying no (which is your right) then they can get into serious trouble with the CCMA, NCR, NCT or Information Regulator.
BREAKING NEWS
FINBOND MUTUAL BANK
HIT WITH R10 MILLION FINE
The Prudential Authority has hit Finbond with a R10 Million fine over misrepresenting their financial position.
The matter first started in 2012 when Finbond Mutual Bank loaned R155 Million to its own parent company Finbond Group. In 2018 the Prudential Authority got stressed that the parent group owned 100% of the shares of the bank and so had essentially loaned themselves the money. It is also a lot of exposure in one place so they asked the bank to adjust for this risk or get Finbond Group to repay the loan. There also seemed to be a serious lack of paperwork which needed to be sorted out.
In March 2019 Finbond Group met with the Prudential Authority and said they had sold some assets and settled the Finbond Bank loan. But an auditor found this was not accurate. A month later the Bank then told the Regulator that the loan had been settled in full. But 4 months later another auditor found there were still accounting problems with how the loan was settled. Then finally the loan was eventually settled in cash but only in 2020.
Due to this irregularity in reporting and what the Prudential Authority call misrepresentation of the facts Finbond Bank have now, after further investigation, been hit with this massive fine.
NATIONAL DEBT AWARENESS MONTH
In an effort to get people to talk about their financial situation and become aware of their options for dealing with debt, Debt Counsellors and the media have dubbed February: National Debt Awareness Month.
The idea is to encourage consumers to take a closer look at their total financial situation. It is also an effort to drive education and awareness on the topic of debt. Many people simply try to ignore debt instead of talking about it but efforts like this get people thinking.
Benay Sager of the National Debt Counsellors Association (NDCA) says it is “encouraging to see how these days consumers are being more proactive about dealing with their debt”. He advises consumers who are struggling to manage their debt, to “have a no-obligations consultation or assessment with a reputable Debt Counsellor to explore their current financial situation” and to “take the first step to empower themselves with the information and solutions available."
Debt Counsellors: Download a Free Media Pack with images you can use during National Debt Awareness Month HERE Or email us on debtawarenessmonth@debtfreedigi.co.za if the link has expired.
CHANGES AT FNB
Industry legend and all-around debt review guru Ms Denise Hartley has now finished up her time at FNB (overseeing activity in the debt review department) and is now heading to work on the other side of the industry fence.
Denise is joining the team at National Debt Advisors (NDA) as of the start of February 2025. The team at NDA say they are very excited that she will be bringing her expertise to their operation and have no doubt it will benefit both their clients and the industry.
TIME
Your Greatest Asset
In the fast-paced world of debt counseling, time isn’t just money - it’s the foundation of trust, service, and success. As a debt counsellor, you're constantly juggling complex processes, strict regulations, and detailed reporting - all while ensuring your consumers get the support they deserve.
A new year brings fresh opportunities. While market trends remain unpredictable, one thing is certain: staying prepared is key to staying ahead.
At IPDA, we know time is your greatest asset. Our advanced technology simplifies workflows, automates critical decisions, and optimizes collections, distributions, and reporting. By cutting through the complexity, we give you back the time to focus on what truly matters - guiding consumers toward financial freedom.
In today’s dynamic debt review landscape, efficiency isn’t a luxuryit’s a necessity. IPDA’s automation tools are built to help you navigate high-demand periods, like the post-holiday surge, with confidence and control. Your time is too
We wish our members a great 2025
Please visit the members Facebook group for latest industry info.
Debtfree DC Workshops Weekly on Thursdays 3:00 – 3:30pm
facebook.com/groups/allprodc NOTICE
www.allprodc.org
Thank you for noticing this new notice. Your noticing it has been noted.
Gauteng - 11 February KZN - 14 February
E
W Cape - 6 March
www.dcasa.co.za/faq/faq-2/news/
www.dcasa.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
SENIOR FINANCE OFFICER (REF: NCT25/SFO-001)
Financial services
Vacancy: Senior Finance Officer
Location: Centurion
Reports To: Finance Manager
Contract Type: Fixed-Term (6 Months)
Requires: A Bachelor’s degree in Finance, Accounting or a related field
The National Consumer Tribunal (NCT) is seeking a highly skilled and motivated Senior Finance Officer to join our team on a six-month fixed-term contract. This pivotal role involves overseeing financial operations, ensuring compliance with regulatory requirements and providing strategic financial insights to support decision-making.
GAUTENG
LIMPOPO
FREE STATE
KWAZULU-NATAL
EASTERN CAPE
MPUMALANGA
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
Tel: 086 111 6197
Fax: 021 425 6292 info@creditmatters.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
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
068 279 5951 info@debteezy.co.za www.debteezy.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