Issue 9 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
Take Back Control Of Your Finances We provide a remedy specifically for over-indebted consumers which involves restructuring of debt payments, lowering interest rates and fees and lengthening payment terms. Debt Counselling could be the best gift you give yourself.
Call 087 237 7874 today! 2018 Debt Review Awards
WINNER
2018 Debt Review Awards
WINNER
DebtBusters voted SA’s BEST ‘National Debt Councellor’at the 2018: Debt Review Awards - for the 3rd consecutive year! Consumer Debt Help voted SA’s BEST ‘Large Debt Councellor’ at the 2018: Debt Review Awards - for the 5th consecutive year!
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Proudly part of the Intelligent Debt Management (IDM) Group
FROM THE EDITOR I was recently watching the 2020 Emmy’s as they hosted their first virtual awards ceremony. The host (Jimmy Kimmel) and a select few filmed at a location while guests and the nominees joined remotely online. As I was watching I thought to myself: I now totally know what goes into producing and organizing such a coordinated effort in order to have such an Awards show.
And though many of the attendees and nominees are famous Hollywood people I thought‌hey man, we already did that this year with the annual Debt Review Awards and we were just as good. Turns out we are ahead of the curve in the debt review industry and our online Awards show will be just one of many such Awards shows held remotely this year. And while I think Jimmy Kimmel is great I do think Rob Van Vuuren is great. He went from host to demotivational speaker in minutes and left us laughing and demoralized for days if not weeks after. Thanks Rob! But seriously, the team here at Debtfree Magazine (who help with organizing the Awards each year) did an amazing job in not only organizing the Awards but helping us as an industry to feel a few minutes of relaxation, humor, tension and suspense and excitement. Well done to the team and well done to all those recognized for their hard work in the industry in what has undoubtedly been a year to remember. A challenging year of note. For consumers who are going through these tough times, all we can say is: please talk to your Debt Counsellor about any and all issues that come your way that threaten to take you out of the process. Speak to them soon, speak to them honestly and be prepared to take the advice they will give. 2020 is not a year for half measures and they may give you some hard homework and tasks to accomplish but it will be worth it to stay in the process and keep chipping away at your debt. Don’t let 2020 be the year that throws your financial future down the drain. Also a big word of commendation and thanks to all those credit provider debt review departments out there who are working through the pandemic and pushing the other departments at the credit providers to help keep their clients in debt review rather than put them back into the old collections process. Well done to you for pushing to help your clients!
REDUCE UNNECESSARY EMAILS & CALLS ARE YOUR CLIENTS SIGNED UP TO DReX?
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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
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Some people see the Awards process as being about winning (naturally so) but our team also like to think of it as acknowledging that there are hard working people behind all the companies and brands and departments who are helping consumers through the toughest of times. We are always impressed to see how hard everyone is working to help consumers get out of debt. So, here’s a “virtual” award to you. To the Debt Counsellors and credit providers; to the software developers and insurance providers; to the attorneys and the PDAs; to the Regulator and Tribunal and, most importantly, to all you consumers on your hard but rewarding journey to being totally debt free.
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DEBT REVIEW AWARDS
NEWS
TALK TO YOUR DEBT COUNSELLOR
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SERVICE DIRECTORY
DISCLAIMER Debtfree Magazine considers its sources reliable and verifies as much information as possible. However, reporting inaccuracies can occur, consequently readers using this information do so at their own risk. Debtfree Magazine makes content available with the understanding that the publisher is not rendering legal services or financial advice. Although persons and companies mentioned herein are believed to be reputable, neither Debtfree Magazine nor any of its employees, sales executives or contributors accept
any responsibility whatsoever for their activities. Debtfree Magazine contains material supplied to us by advertisers which does not necessarily reflect the views and opinions of the Debtfree Magazine team. No person, organization or party can copy or re-produce the content on this site and/or magazine or any part of this publication without a written consent from the editors’ panel and the author of the content, as applicable. Debtfree Magazine, authors and contributors reserve their rights with regards to copyright of their work.
C O N T E N T S
BREAKING NEWS
ABSA TO UPDATE DEBT COUNSELLORS MONTHLY ABSA’s team who handle debt review have notified Debt Counsellors that they will now be introducing a new system of sharing consumers current balances monthly. They will automatically be sending this information out to Debt Counsellors, as this is a very common query type in the industry. It is often necessary to check if the balances between the Payment Distribution Agents software and the Banks software match. It is not uncommon for their to be minor differences. Now, on a monthly basis a bulk database of all the particular Debt Counsellor’s active clients with ABSA will be shared, meaning that the Debt Counsellor should not have to regularly try and get this information from ABSA via email. By supplying the information proactively it is hoped this helps both Debt Counsellors and reduced enquiries at the bank which might be missed. The information will be shared with two part verification (one email with info and another with the code needed to open the info). The information will be provided for all the clients in bulk in Excel format for ease of use. The emails will be provided between the 10th and 18th of each month after payments have been made by the clients via their PDA and captures and reflecting on the bank’s system.
REPO RATE UNCHANGED The Monetary Policy Committee of the SA Reserve Bank (MPC) met and discussed possible changes to the Repo Rate during September. They factored in recent inflation figures, the Rand to Dollar exchange and of course factors around the Covid-19 pandemic. It was ultimately decided there would be little benefit to adjusting the rate from its current low of 3.5% per annum. Experts expect the rate to remain low until late 2021.
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
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STANDARD BANK TO LAUNCH INFO PORTAL With the Protection of Personal Information Act (PoPI) finally coming into full effect in the next few months the various banks, credit providers and Debt Counsellors are having to think about how they will share information about their mutual clients while sticking to the new laws. Standard Bank has announced that they have a data sharing portal of their own in development and that Debt Counsellors will be given access to the portal in the near future. The portal will be used by more than just Debt Counsellors of course and will be an integral part of the banks future info sharing processes. Debt Counsellors will be able to use the portal to get information such as: CoBs, Proposals, Termination notice records, Paid up letters & general info about their clients. They will also be able to edit (or suggest edits) for some client information (eg. contact info and address). PoPI is going to present all industries with challenges and innovative solutions will be needed for those who regularly share consumer’s private information (such as Debt Counsellors, attorneys, credit bureaus, Government offices and credit providers). To sign up now (in advance) for early access to Standard Bank’s system for when it goes live, Debt Counsellors can email the bank with their name and contact info at: RegulatoryOperationsCommunication@standardbank.co.za
YOU ARE WATCHING THE WELCOME TO THE
DEBT REVIEW AWARDS 2020
DEBT REVIEW AWARDS 2020 ONLINE SHOW
ONLINE SHOW
THE DEBT REVIEW AWARDS
INTRODUCTION Each year the debt counselling and debt review industry have an awards show where the results of industry peer reviews are announced. This year due to Covid-19 the Awards Gala became an online show streamed live over YouTube. Here’s a look at all the action, laughs and Golden Piggy Bank winners. More than that, you are starting a process that you may not know too much about. What are some facts that you absolutely need to know about debt review?
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
THE DEBT REVIEW AWARDS
PRE SHOW Our hosts for the day: Tom & Maluska (a cat or two and maybe a dog)
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
The YouTube live stream began at 11am with the broadcast of chats with well known industry figures as they discussed and debated the criteria used in the peer review process each year. There were three chats about the criteria used for Debt Counsellors (when reviewed by credit providers), the criteria used for credit providers (when reviewed by Debt Counsellors) and then the criteria used for Payment Distribution Agents (by both credit providers and Debt Counsellors). Having the pre show in place helped the live stream team, deal with a few technical issues that came up. With some behind the scenes scrambling, the show was able to carry on for the next 7 hours with only 3 short glitches during all that time.
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
Next, we had a quick update about the new Award category this year (Technology Adoption Award – in partnership with Slipstream) and then a presentation from Maximus who produce software that helps Debt Counsellors run their practice and assist consumers. The software is currently used by Debt Counsellors to integrate with 2 of the 4 NCR registered PDAs.
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DEBT REVIEW AWARDS 2020 ONLINE SHOW
Meanwhile, Lazlo Toth of Consumer Friend was putting on his tux and getting ready for the Awards and reminiscing about how difficult 2020 has been. DJ Shacido was on the decks pumping out some vibes as everyone got ready for the main show to begin.
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
THE DEBT REVIEW AWARDS
DEBT REVIEW AWARDS SHOW Comedian (and it turns out motivational speaker) Rob Van Vuuren was on hand to entertain the viewers with his stories (mostly about how he hates motivational speakers) and toilet paper.
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DEBT REVIEW AWARDS 2020 ONLINE SHOW
There were various speakers at the Awards show including Mr. Chris Van der Straaten of Hyphen PDA who went through some of the challenges that Hyphen PDA and most large practices have had to deal with this year. Wessel Symington of Steyn Coetzee Attorneys then discussed some very important precedent setting court cases that has changed the way consumers can defend themselves. The first of several speakers from other countries, who shared their experiences about debt review, was Ms. Thatcher Maziya (of Debt Solve incorporated) from the Kingdom of eSwatini. She shared the latest developments and the similarities and differences in the process.
THE DEBT REVIEW AWARDS
NEW AWARD CATEGORY SLIPSTREAM TECHNOLOGY ADOPTION AWARD This year the Debt Review awards partnered with Slipstream to bring a new award category into existence: Technology Adoption. Technology is key to the successful running of debt review and Slipstream have helped create the very popular DReX portal. The Award this year recognized those Debt Counsellors who themselves use the portal as well as a large number of their clients (who use it to get balances and information about their case). The top 3 users were: Summit Financial Partners, National Debt Advisors and the Award winner Debt Rescue.
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
THE DEBT REVIEW AWARDS
CONSUMERS GETTING OUT OF DEBT Adri de Bruyn & Elzaan Kemp of Kemp Du Breyn & DC Experts shared how their clients (some in their 70s) had been assisted to get out of debt even during the lockdown. Many have been given generous assistance from Standard Bank in clearing their last remaining debts. It was great to see that even with all the chaos caused by Covid-19 and the lockdown consumers are still getting clearance certificates and settling all their debt. Debt review continues to help people successfully deal with their debt stress.
THE DEBT REVIEW AWARDS
ONE: SIGNIFICANT CONTRIBUTION TO DEBT REVIEW AWARDS Each year those in the industry and insurance provider ONE helps the Debt Review Awards team identify those individuals who are going ‘above and beyond’ to make debt review work. These are individuals who are improving the process and industry. In each practice, office and service provider are those who are putting extra time and effort to help make debt review the best process for consumers to use to get out of debt. This year the well deserved winners of the ONE Significant Contribution to Debt Review awards were Muhammed Laher of ABSA and Timmy Vd Grijp from the National Credit Regulator.
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
The next international speaker was from the UK, Mr Sean Fest (of Credit Management) who shared how things are working there. He explained how their regulation and Regulators work and how, surprisingly many consumers have been using the time during lockdown to settle up their debts, while slashing their monthly expenses. He did warn however that a wave of consumers will soon be entering debt review over there as the banks’ grace periods and government assistance comes to an end. From across the border in Namibia, Mr Salmao lipinge spoke about how debt review is finally starting to get recognized there. It has not been an easy journey but consumers there really need a lot of assistance. He praised the local Regulator for their active role in helping consumers and mentioned many fine developments which are helping consumers deal with the results of the pandemic. Mr Russell Dickerson of the Debt Counsellors Association of South Africa spoke to the guests and encouraged everyone to be positive people who were making the best use of online resources. He promised that after the long drought (of lockdown) the summer rains of new applications for help were finally on their way.
THE DEBT REVIEW AWARDS
THE AWARDS Mr Barry Fuchs of Moore SA was the auditor keeping an eye on things and after a short speech explaining how the peer reviews work (from our Editor Mr Zak King) it was time to hear the results of the peer reviews.
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DEBT REVIEW AWARDS 2020 ONLINE SHOW
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
THE DEBT REVIEW AWARDS
PDA AWARDS The National Credit Regulator has currently recognized and registered 4 Payment Distribution Agents. There are two awards handed out in the Payment Distribution category. An award as reviewed and rated by Debt Counsellors and then a second award from a credit provider perspective. This year both awards went to Hyphen PDA.
THE DEBT REVIEW AWARDS
CREDIT PROVIDER AWARDS There are many thousands of credit providers in South Africa, both large and small. This year Debt Counsellors rated the following credit providers the highest in their relevant credit type category: Direct Axis, Consumer Friend, Old Mutual, Standard Bank (who had a very strong showing taking awards in 3 different categories namely: Secured, Unsecured credit, as well as, Vehicle finance). African Bank was recognized this year as the most improved debt review department at a credit provider. New Award: Covid-19 Excellence The new award category for 2020 in regard to excellence in dealing with the Covid-19 pandemic went to FNB. Well done.
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
YOU ARE WATCHING THE
DEBT REVIEW AWARDS 2020 ONLINE SHOW
THE DEBT REVIEW AWARDS
DEBT COUNSELLORS 50 different Debt Counsellors were recognized in 2020 at the Debt Review Awards. These hard working Debt Counsellors have been working extra hard during the lockdown to assist their consumers. 5 of these Debt Counsellors took home the Golden Piggy Bank Awards as they received the highest ratings in their size categories. They were: Alan Manshon, Shaun Zeelie, Russell Dickerson, Consumer Debt Help and National Debt Advisors (NDA). New Award: Covid-19 Excellence The new award category for 2020 in regard to excellence in dealing with the Covid-19 pandemic went to National Debt Counsellors (NDC).
THE DEBT REVIEW AWARDS
THAT’S ALL FOLKS After a few more laughs at the end of the show from Comedian Rob Van Vuuren and hosts Tom & Maluska it was time to either celebrate, commiserate or just relax while enjoying the music by DJ Shacido. Many hundreds (possibly thousands) of viewers were able to tune in to the show this year despite the challenges of Covid-19. Well done to the team behind the scenes and well done to all those who were nominated and recognized at this year’s Awards.
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DEBT REVIEW AWARDS 2020 ONLINE SHOW
THE DEBT REVIEW AWARDS
CELEBRATING THE AWARDS Well planned social distancing parties were held at debt counselling practices and credit provider debt review departments across the country. Many held parties over zoom or teams as they all tuned in to watch simultaneously from home. It was great to see everyone dressed up (at least from the waist upwards) and enjoying themselves and sharing photos via social media. Search for #debtreviewawards2020 on your favorite social media platform to see many of the pics. For more info & video clips of the action head over to: www.debtreviewawards.co.za or YouTube
DEBT REVIEW LESSON 1
Every legitimate Debt Counsellor has a certificate issued to them by the National Credit Regulator. When talking to a new Debt Counsellor you can ask them to email you or show you a copy of their certificate.
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?
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086 111 2882
TELEPHONE 0861 112 882 FACSIMILE 086 605 9751 MOBILE 082 449 6856 EMAIL andre@in2insurance.co.za
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No one in the world will deny that 2020 has been one of the most challenging, turbulent, difficult years ever. Yet it was that, which made winning the award for the best national debt counsellor award at this years Debt Review Awards, so much sweeter for National Debt Advisors.
In a year wherein many company’s experienced low staff morale and decreased productivity, the staff at NDA banded together, worked harder than ever and brought their A-game from the beginning to the end of the debt review process. For CEO of National Debt Advisors (NDA) Sebastien Alexanderson, this award had special significance given the state of national lockdown “This is surely the highlight of my work experience, especially the part of my journey which saw me start NDA 7 years ago. This is however not the end of the journey. Infact, it’s just the beginning of new, better phase for NDA. As the CEO, I have to make the point that NDA is only the best because we employ the best. I credit all of this to my entire team. We did this together. In one of the most challenging times in the history of the world, we pulled together and worked harder – and our efforts have borne results that we are immensely proud of. We have the right people with the right attitude, geared to get South Africans out of debt and on the road to being financially free. We are undoubtedly highly appreciative of the best national debt counsellor in SA award, but we don’t do this for the accolades. We do this because we know we have the ability to change the lives of South Africans for the better.
The current level of SA consumer debt is unsustainable. NDA is committed to increasing financial and consumer literacy and education, to creating platforms for financial and personal growth - and to become the employer of choice that will help as many South Africans as possible become debt-free and reach financial freedom, so that they may add value to the economy and growth of this beautiful country.� Covid19 and lockdown has seen household income lost and interrupted - and consumers are turning to unsecured lending for survival. People are struggling. Now more than ever – responsible, competent, committed debt counsellors, PDA’s, creditors and financial roleplayers are needed to help overwhelmed, over-indebted consumers find solutions to their financial woes.Therefore, these awards (so brilliantly and efficiently run by the Awards team) come at a very crucial time. Yet, when the announcement of NDA as the best national debt
counsellor was made on Friday 11 September – the entire NDA team forgot all about debt counselling for a while – and went bos! There were smiles, cheers, tears –and lots of cake! It has to be said though, that since their win - the attitude and work ethic of the NDA staff has only become better. They are more energised, more determined and more committed than ever to deliver excellent service to over-indebted South Africans. Then again, attitude reflects leadership. As debt counsellors, PDA’s, creditors, the NCR and all affiliated organisations – we have much work to do and impact to make. Onwards and upwards is the way forward for NDA and the debt counselling industry as a whole. Watch the interview with Seb Alex Anderson and Zak King
DEBT REVIEW LESSON 2
Leaving debt review is not a simple process and needs to be done once your debts are paid up and with the help of a professional Debt Counsellor.
LET’S TALK
TALK TO YOUR DEBT COUNSELLOR SOONER, NOT LATER Whether you are in debt review or not, life can be tricky and challenges will come your way. Unforeseen economic challenges, like those brought about by Covid-19, can cause you to worry about being able to make your court ordered debt review repayment. Your landlord may decide it is time to sell the place you are renting, or your mobile phone may be stolen. All these things will impact on your day to day life and could hinder your ability to communicate with your Debt Counsellor, PDA or credit providers. They may also force you to make changes that will impact your debt review. Many people in debt review will just go ahead and make some changes, and then only months later, speak to their Debt Counsellor about it. By this time, all the progress that has been made with their debt review could be threatened. It could end the entire debt review if left unchecked, it may in fact, already be too late. A large number of issues in debt review can be mitigated by speaking to your Debt Counsellor sooner rather than later. Let’s look at a few of these issues and consider how speaking to your Debt Counsellor as soon as the situation comes up, the most beneficial course of action.
TALK TO YOUR DEBT COUNSELLOR
TROUBLE MAKING A PAYMENT If you have been put on short time then this will directly affect your income. Receiving less income could result in your prioritizing daily expenses over monthly debt repayments. You need to put food on the table and buy electricity to get by. Many consumers who have such an unplanned drop in income, do not speak to their Debt Counsellor when they first see trouble coming. Instead they make a decision based on their perceived needs at the time. Often this results in them not having the needed monthly debt repayment amount to their credit providers (via their Payment Distribution Agent). Some though, wisely decide to pay what they can, but others foolishly just skip the entire payment. If a few days goes by and none of their creditors complain, they may foolishly think everything is ok and as if nothing is wrong. This is naive and unrealistic. It is obvious that the credit providers’ computers will pick up the missed payment, and will start the process of them trying to get out of the debt review. Although consumers will have been warned about the serious results of missing payments, they simply hope for the best. What happens next… the credit provider’s computers generate a letter saying they are getting out of the debt review because the consumer did not stick to the agreement and court order, and will revert to pestering calls, sms’ and eventually a summons. The consumers stress levels will start to rise, and they will invariably go running to their Debt Counsellor, to ask for assistance long after the fact. They may now face legal action, judgments (which last for 30 years) and the repossession and sale of their assets like their car and home.
TALK TO YOUR DEBT COUNSELLOR
A SUDDEN EXPENSE
n unplanned expense can also necessitate consumers to spend money that they had set aside for debt review payments. When your car breaks down or your geyser explodes or perhaps your washing machine breaks down you may decide that you need to take immediate action to fix the problem. This can result in not having the needed funds to make your regular monthly debt restructuring payment. Missed payments can lead to credit providers leaving the debt review process and starting new legal action against the consumer. This will increase the consumers stress and could end their debt review journey. In many cases this results in the consumer owing more money than they thought, as the benefits of debt review are stripped from the accounts they have been paying and huge fees and interest are once again included by the credit providers. Next, the collection agent calls and legal action begins with summonses and more. In some cases, the car repairs that were paid for with the debt review installment ends up being repossessed and sold off on auction, leaving the consumer without a vehicle for the next few years.
TALK TO YOUR DEBT COUNSELLOR
A CHANGE IN CONTACT INFO It is not uncommon for people in South Africa to regularly change contact info. This includes their physical address, their mobile number and their email address. Maybe their phone gets lost or damaged and they simply get a new sim card and number. Perhaps they decide to move or they change jobs, and thus email addresses. This is not unusual and normally they let their friends and family know about the changes. What may present a challenge for people under debt review is when they move, and the credit providers send important legal documents to their old address. Because they are not aware of the legal document, it can escalate to the point where a credit provider goes to court and the consumer is not there to defend themselves. Next they could be surprised with a judgment and a huge bill from the credit provider’s attorneys. Other consumers complain that they are no longer getting regular distribution updates from their Payment Distribution Agent. It could be that the emails are going to their old email address or the notification sms’ has gone to their old mobile number. It might even be unaware that their Debt Counsellor is desperately trying to reach them with important information, but you have not updated your contact details with them.
TALK TO YOUR DEBT COUNSELLOR
INCOME CHANGES If you see problems brewing due to a possible future change in income, your Debt Counsellor can reach out to your credit providers in advance and warn them. This may prevent them from trying to get out of the debt review. It might not prevent all of them from leaving and starting to send new lawyers after you but it might keep most of them in the process. It could happen that the credit providers are understanding, and give you a month’s breathing room or allow you to make a reduced payment for that month. This could only happen if they are notified well in advance, and if the Debt Counsellor has enough time to try reach out to them. Speak to your Debt Counsellor as soon as you think there might be a change with your income.
TALK TO YOUR DEBT COUNSELLOR
EXTRA EXPENSES If you have a sudden unexpected expense, and have not been saving a little as per your budget with the Debt Counsellor, you might make a rushed decision to spend money that should go towards repaying your debt. After all, you need clean clothes, you need to have a shower and you need to be able to get to work. A short conversation with your Debt Counsellor however, may help you figure out how much it will cost to use a laundromat this month, while you save towards a new washing machine. They may help you realise that your friend has a washing machine, or your relatives do, which you could use without spending more now. You may be able to get a lift to work with a colleague or use public transport for a few weeks, while the Debt Counsellor speaks to the vehicle finance credit provider about making a reduced payment for a little while, to help cover the repair costs. You will never know unless you speak to your Debt Counsellor. Speak to your Debt Counsellor if you face a sudden unplanned expense.
TALK TO YOUR DEBT COUNSELLOR
NEW CONTACT INFO Rather than miss out on the chance to defend yourself legally (if your credit providers send letters to your old address) and rather than miss out on important emails and SMS’, it is essential to update your Debt Counsellor if/when your contact info changes. They will advise you on who else to inform about your change of address. They will remind you to let the credit providers know about the change. They may remind you to update your insurance provider or Payment Distribution Agent about the change so that you don’t have experience problems later. Speak to your Debt Counsellor if your Contact info changes.
TALK TO YOUR DEBT COUNSELLOR
SPEAK TO YOUR DEBT COUNSELLOR SOONER RATHER THAN LATER By simply reaching out to your debt counsellor (the person who you are paying to help you each month) you can avoid some of the biggest challenges that could arise in debt review. By keeping them in the loop, you can have the entire Debt Counselling team at their office, working on your case. While the Debt Counsellor is not able to just wave their wand and make the problems disappear, they can bring years of experience and good decision making to the table and help you see what all your options are. They can provide you with sound advice on how to protect your assets and stay in the debt review process, even when the unexpected comes along. The sooner you reach out to them, the more time you give them to help you find the best solution for your challenging situation.
DEBT MANAGEMENT SOFTWARE
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BEWARE OF SCAMMERS A scam currently doing the rounds involves ‘crooks’ calling you up, pretending to be from your bank, and getting you to willingly provide them with one time pin (OTP) codes. The recent release of personal information onto the internet from credit bureau Experian, has brought the problem of scammers back into the spotlight. One of the latest scams involves people calling you up pretending to be the bank’s anti-fraud department, and tricking you into sharing information so that the scammers can make purchases from your account
BEWARE OF SCAMMERS
STEP 1 GAIN TRUST To gain your trust, the scammers use information they already have about you (from this Experian customer info or similar leaks) to pretend to representing your own bank and to fictitious already know everything about you. They may share your ID number and account number details with you to show that they really know who you are. This helps you relax and feel like you are actually dealing with your bank, who you know and trust.
BEWARE OF SCAMMERS
STEP 2 TELL YOU THAT YOU HAVE BEEN A VICTIM OF FRAUD When someone calls you up and claims that you have been a victim of fraud, it’s scary! The very nature of such a call sends panic signals to your brain, the scammers take advantage of this feeling to trick you into giving them the info they need to complete their fraud. They will tell you that you have already been a victim and they are the ones who can help to prevent more fraud, but ‌. you will need to work with them to stop it from happening again. Obviously, you do not want to be a victim of fraud, so you will be quick to cooperate with this person, who you think is from your bank to stop any more money being stolen from you.
BEWARE OF SCAMMERS
STEP 3 GET YOU TO GIVE THEM YOUR ONE TIME PASSWORD The next step the scammers take is to load up a payment (or payments) on your account, and then they simply ask you to give them the one time pin the bank SMS’ you when they hit “pay” on their side. In reality, however, they are using the very code you give them, to steal from you. They tell you that they are the ones sending you the code, and if you can give them the numbers they can use it to stop the fraud. So you provide them with the OTP. In reality, however, they are using the very code you give them, to steal from you.
BEWARE OF SCAMMERS
BEWARE In scam warning messages being shared from various banks via official channels from various banks, they advise that their agents will never ask for OTP to be disclosed. Please keep this in mind if someone contacts you from your bank saying that you have been a victim of fraud. One option you have, is to end any suspicious call and immediately contact the official fraud prevention number as shown on your bank’s website or social media. This way you can ensure that you are dealing with the right people. If you tell the person on the phone that you are going to hang up and call into the bank and they tell you not to do that, then you may well be dealing with a scammer. So hang up and call your bank right away. Never share your OTP with anyone claiming to be from your bank!
DEBT REVIEW LESSON 3
If you decide not to pay your Debt Counsellor the small court ordered professional fee each month, you may have to pay these fees later when you need a clearance certificate to get out of debt review.
Form 42
QUESTION How easy does your system make it to get consent to a credit check? ANSWER Maximus introduced consent to credit check via OTP where a consumer can consent to a credit check and verify his cell number via OTP!
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
Well done to the organisers and everyone involved in the Debt Review Awards this year. Congratulations to the winners.
Debt Counsellors Collective If you want your voice to be heard please feel free to email alan@themoneyclinic.co.za
Congratulations to all 50 Debt Counsellors and all the credit providers recognised in the Debt Review Awards 2020.
www.allprodc.org
Well done to all the winners at the Debt Review Awards this year.
Regional Meetings Coming In October: Free State 23 October 2020 @10:00am 15 Barnes Street, Langebaan Building, Westdene, Bloemfontein Maximus will be attending Western Cape 27 October 2020 @10:00am Parow Golf Club DC Partner & Consumer Friend attending & Capitec Bank will be present for Q&A session. Gauteng 4 November 2020 @11:00am Venue: Kempton Park Golf Club VeriCred Credit Bureau attending. Port Elizabeth 11 November 2020 @10:00am B & E Conference Centre
www.dcasa.co.za
NDCA are ready to help consumers who are struggling with debt. Visit our site for more information
INDUSTRY INTERVIEW
oo
Nicoleen Naid
Ernest Madiba
Debtfree Magazine spoke to Mr. Sephorokwane Ernest Madiba, Team Leader at Iemas Specialised Collections Department to get his thoughts on the industry and share a little more about the Iemas debt review team. When did the Iemas Debt Review Department start? The Iemas debt review department was officially established in August 2014 and the Department adopted the NCR Task Team Agreement in June 2015. The department comprises of five debt review administrative assistants who are specialists that attend to debt review matters, one team leader: specialised collection (DR Manager) and the department is headed by Nicoleen Naidoo (collections manager: legal). How long have you been involved in Debt Review specifically? For approximately 12 years, since 06 October 2008. I commenced employment with Iemas on 16 April 2018 and under good mentorship and direction of my superiors; we managed to become one of the largest non-bank credit providers to be nominated at the debt review award in both 2019 and 2020. This is a great achievement for Iemas debt review department. Our focus is to build and maintain healthy stakeholder relationships through effective engagement for the improvement of our South African consumers.
What do you enjoy about working in the debt review space? It is a great accomplishment for the Iemas debt review department to be nominated as one of the largest non-bank credit Providers within the industry that supports consumers under debt review. I enjoy engaging with Debt Counsellors, Payment Distribution Agencies and the NCR for the betterment of consumers and working towards improving our economy at large. Where do you see debt review going in the future? In 2015, approximately R6 billion was collected by credit providers and in 2019 it increased to R10 billion through Debt Counselling [DCASA conference 2019]. It is evident that the debt review process is working and it will very soon become one of the best collection mechanisms for credit providers. Creating awareness and continuous education of consumers is key to successfully drive this process In addition, the industry is growing drastically due to many consumers not being able to pay their monthly obligations and the negative impact that the economy has on all consumers in general. How do Debt Counsellors get hold of you and your team? Through email and telephone numbers below: 1. dr.applications@iemas.co.za - Court applications, Court/Consent Orders, complaints & related queries ONLY. 2. dr.proposals@iemas.co.za - F17.2, Proposals, Refunds, CLI Cancellation, Balances request, Settlement letters & related queries ONLY. 3. debt.review@iemas.co.za - F17.1, Paid up letters Reckless Investigations & related queries ONLY. 4. alloc.payments@iemas.co.za - PDA Statements, Debit Order/Salary Stop Order Cancellations & related queries ONLY. 5. terminations@iemas.co.za - F17.4/F17w & Termination queries & related queries ONLY. 6. Tel: 012 674 7949 / 7088 / 8751 / 8769
Do you have any advice for Debt Counsellors when they are dealing with Iemas? Iemas requests Debt Counsellors to refrain from sending debit/stop order cancellation forms to Iemas at F17.1 stage, as stop orders are automatically cancelled on receipt of F17.2 and proposal as per “Annexure A paragraph 2.3.10 (a) & (b) of the Debt Review Task Team Agreements”. Also Debt Counsellors can request a refund should the salary deduction continue after the issue of F17.2 and proposal. Iemas will then refund the deducted amount less CLI to the PDA/Consumer in line with the debt counsellor’s instruction. Any insights into the industry and how we are doing things? A Debt Counsellor has a statutory obligation to refer his or her recommendation to a magistrate’s court. I urge Debt Counsellors to provide credit providers with court application in line with rule 55 of the Magistrate Court Act to Credit Providers. This will give credit providers the opportunity to review the court application prior to the date of sent down. It will grant credit providers an opportunity to propose amendments or make recommendations to assist our consumers, before the date of set down. This will circumvent opposed debt review matters and promote healthy relationships between key stakeholders. Furthermore, Section 86(5) of the NCA states that all parties involved should act in good faith. So, it is, non-compliant for the Debt Counsellor to fail to provide a court application to the credit provider.
28 February 2020
Back Row: Boitumelo Fourie & Olwethu Mandiya Front Row: Thapelo Mokoena, Castro Sibia, Sibusiso Mashaba
28 February 2020 RE: CONSENT TO SERVICE We hereby request that ALL Iemas Financial Services Cooperative Administration, Sequestration and Debt Review documentation be submitted to respective e-mail addresses listed below: administrations@iemas.co.za Administration applications & court orders, payment schedules/reports, Sec74Q (rescission) & Sec74U (paid up) & related queries ONLY. sequestrations@iemas.co.za Voluntary surrender applications, sequestration orders, rehabilitation orders, trustees’ reports, requisition & related queries ONLY. cli.claims@iemas.co.za Death certificates & related queries ONLY. Dr.applications@iemas.co.za Court applications, Court/Consent Orders, complaints & related queries ONLY. Dr.proposals@iemas.co.za F17.2, Proposals, Refunds, CLI Cancellation, request for Balances, Settlement letters & related queries ONLY. Debt.review@iemas.co.za F17.1, Paid-up letters Reckless Investigations & related queries ONLY. Alloc.payments@iemas.co.za PDA Statements, Debit Order/Salary Stop Order Cancellations & related queries ONLY. Terminations@iemas.co.za F17.4/F17w & Termination queries & related queries ONLY. Debt Review Telephone Numbers: 012 674 7949 012 674 7088 012 674 8769 012 674 8751 Administration & Sequestration Telephone Number: 012 674 8727 ernest.madiba@iemas.co.za ONLY matters unresolved or not responded to, substantiated by proof. Please note: In order for us to respond to your queries, more efficiently kindly provide Customer(s) ID number and Surname in the subject line. Your immediate attention will highly be appreciated in this regard. This is to ensure that there is a prompt response to all queries. Kind regards ________________________ Mr. Sephorokwane Ernest Madiba Team Leader: Specialised Collections Department (Debt review, Administration Order, Claims and Sequestration)
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FINESSE
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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
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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
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DC Partner 044 873 4530
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•
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‘’ 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
ESCALATION PROCESS COMING SOON
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@consumerfriend.co.za proposals@consumerfriend.co.za courts@consumerfriend.co.za customeraccounts@consumerfriend.co.za
Applications, Notice of Rejections/17Ws COBs Woolworths Truworths RCS/Selected Edcon Foschini Sanlam Mr Price Group JD Group Capfin Connect Fin Serices Full House Retail Lendcor Proposals Court Applications & Orders Terminations (Proof of Payment) Updated Balances, Settlements, General Queries
noel@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 lendcorcob@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