Debtfree Magazine June 2018 by Debtfree Magazine

SOUTH AFRICA’S DEBT COUNSELLING MAGAZINE

DEBT REVIEW

AWARDS winners inside

BRING THE

heat June 2018 www.debtfreedigi.co.za

Rob!’ t a d e h g u la I s e ‘Y E... N AND MOR

SEB’S CONFESSIO

Brrr…it’s cold. So cold that we recently put the heaters on at home, only to get a horrible surprise as the electricity bill shot up (we use a prepaid meter so we can keep an eye on our expenditure). And that isn’t the only thing that has gone up. Filling up at the petrol station is like trying to achieve an all time high for the amount you will pay for petrol. Though slightly entertaining it is actually depressing how much fuel has also shot up. Between all these visible cost of living increases (and the hidden ones we don’t immediately notice – like increased food costs) things are becoming increasingly difficult to make ends meet for most consumers.

how you can try to keep up your debt review payments even though your cost of living is going up. You will also have seen from our cover that we are covering the Debt Review Awards which happened this month. We are doing it in a bit of a ‘tabloid’ fashion. If not to amuse you then to amuse the design team…but we hope it amuses you. If you are one of the featured people please know we love you (and respect you) and we hope you have a good laugh. Many consumers wonder about what it is like to work in the industry and how the business aspect of the process works. In this issue we have a look at both a Debt Counsellor’s practice and how they operate and we get a first look at the newly registered PDA: CollectNet.

We hope you enjoy all the news and If only your income shot up like the reviews and of course all the info cost of living. Sadly, for most people from the Awards. Those on our team it doesn’t. So, this month we consider

who assist on the project had a great time working with all the volunteers and those who willingly helped out and really want to thank the sponsors who made it all possible. The industry is a richer place for the event and the results of the many peer reviews were very interesting, with some familiar winners and some new ones. So, if you are also struggling with the cold then grab a blanket and an extra jersey (they donâ&#x20AC;&#x2122;t run on electricity) and bundle up through the next little while. Be vigilant about making your monthly debt review payments and the light at the end of the tunnel will not only be the end of winter but also paying off your debts in the near future. Keep it up and before you know it you will be debt free.

FROM THE

E D I T O R S DESK

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STAYING IN DEBT REVIEW

DEBT REVIEW AWARDS GALA

THE NUMBER ONE RULE OF DEBT REVIEW

NEWS

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 editorsâ&#x20AC;&#x2122; 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

DEFINING DEBT REVIEW Debtfree Magazine asked Debt Counsellor Ntombi Mtetwa of Ntombi Debt Counselling and Services what debt review means to her and how it works. She says: No one goes to a credit provider and applies to end up with too much debt, itâ&#x20AC;&#x2122;s just a situation that we unexpectedly encounter. Loss of employment, loss of spouse, illness and accumulation of too many responsibilities are well known reasons that we find ourselves in such a situation. As soon as you realise that you need help and start the debt review process, it will assist you. Be sure to look for a reliable Debt Counsellor who will take you through the process step by step. Your Debt Counsellor will check your credit report, how much you owe your creditors and draw up a budget with you according to your expenses. Your Debt Counsellor will then communicate with your creditors requesting statements of balances (COB) and review the balances and interest charged. Immediately after receiving all the information the Debt Counsellor will make proposals based on your new budget to the creditors. Once all the creditors have responded, the Debt Counsellor will apply for a court order to confirm the agreements made between all parties. The benefit of debt review is that your assets will be better protected and creditors will still be paid what you owe them over time. You will once again be able to live an affordable life, without creditors calling and intimidating you about outstanding payments. You will be on the road to financial freedom. Debt review is: rehabilitation; is a restorer of finances; allows for new beginnings; better financial management, as well as a brighter future.

STAYING IN DEBT REVIEW DESPITE THE INCREASING

COST OF LIVING

STAYING IN DEBT REVIEW

WORKING THE PROCESS Debt review is a fantastic process which can help you repay your debts in a more realistic and achievable manner every month. The process can and will save consumers thousands of Rands in fees and interest as credit providers make amazing concessions to speed up the repayment process and assist their clients. The process only works however as long as repayments are made. Missing a payment can derail the entire process and all the benefits that it offers. Dropping out of debt review half way through can actually be highly detrimental to a consumerâ&#x20AC;&#x2122;s situation and so it is vital that repayments are made monthly and never missed.

STAYING IN DEBT REVIEW

COSTS GO UP

BUT YOUR DEBT REVIEW PAYMENT STAYS THE SAME When a person enters debt review the Debt Counsellor looks at their budget and calculates how much the family needs to cover their monthly living costs. The Debt Counsellor will work out things like monthly groceries, electricity, transport costs and even saving towards annual costs like car & TV licenses and school clothes and books. Once they have that figure they will compare it to the familyâ&#x20AC;&#x2122;s income and then see how much is available to service their debts each month. Having worked out a repayment plan, over a reasonable time period, they will submit their proposal (along with the credit providerâ&#x20AC;&#x2122;s thoughts on the

proposal) to the local magistrateâ&#x20AC;&#x2122;s court. There a Magistrate will have a look over the proposal and responses from credit providers and make a ruling restructuring the consumerâ&#x20AC;&#x2122;s debts. The court order will have a set amount which needs to be repaid monthly over the time period of the order (for example: 60 months). The repayment amount is now set in stone but as we all know the cost of living is not. Over time things become more expensive. So what happens when the increased cost of living goes up putting more and more pressure on the consumerâ&#x20AC;&#x2122;s ability to make their set monthly debt repayment? Photos and Images by Freepik.com

STAYING IN DEBT REVIEW

PAYMENT ESCALATIONS In the past, it has been very popular for some credit providers to ask that their debt repayment amount goes up each year. This is because of a naive and perhaps greedy attitude on their behalf where they assume consumers will have more money available to pay each year during the process. They probably think that all consumers will receive an increase in income which will be much higher than the rate of inflation. In most cases this is not what happens. Most consumersâ&#x20AC;&#x2122; income goes up at a comparatively lower percentage than the increase in cost of living. This means that consumers actually have less and less to cover all their costs and debt review repayments each year.

SURE

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STAYING IN DEBT REVIEW

INCREASED INCOME While it is somewhat unrealistic to think that your income will increase each year at a pace with the increased cost of living, it is important to try to get in more income over time. There may be a family member who can take on a part time job who previously never worked. This may even include younger ones walking the neighbourâ&#x20AC;&#x2122;s dog for some pocket money. It may involve being brave and asking your employer for an increase rather than just waiting. If you are working hard they will not object to your asking (they may not give it to you but at least you asked, right?) Though it is scary you may consider looking for new employment opportunities which will nett you a higher income. Just try to ensure the company you are going to potentially work for is stable before making the change.

STAYING IN DEBT REVIEW

STICKING TO YOUR BUDGET When you enter debt review you will work with your Debt Counsellor to come up with a realistic budget (which the Magistrate will review and adjust if needed) which will enable you to (1) cover your needed costs (2) save towards both expected and even unexpected costs and (3) make sure you have a reasonable amount to pay towards your debts each month by reducing unnecessary expenses. It is important that you do not go beyond the budget and spend more than you have to each month. One of the main areas where you can create future trouble for yourself is by not saving the amounts needed for annual expenses and unexpected costs worked into your budget each month. Spending those funds now leaves you exposed in the future. Remember that you also can try spend less than the budgeted figures so that you increase the cushion for when costs do escalate.

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STAYING IN DEBT REVIEW

SPENDING LESS Though it seems obvious, it is important to make an effort to spend less. Not only less than you used to but also on an ongoing basis with your normal monthly costs. If you are shopping for meat at one shop and find out that a local butcher or another shopping chain is running specials then head over there and reduce your costs. If you have been running the heater a lot then maybe you can make an effort to dress the family warmer and cut back on your electrical spending. If you find your transport costs going up look at car pooling and other means to reduce your spend. Debt review gives you a fresh start but it is not the finish line. It is important to realize that you have been given a new chance to start to make the needed changes to your regular spending habits. While in the process, you should make an effort to become a clever shopper. Find those factory shops; learn to sew your own clothing, clean your own home or garden rather than hire in help.

STAYING IN DEBT REVIEW

AMENDING THE COURT ORDER If you are going to be experiencing a big change to your income or expenditure then with sufficient warning and legal costs involved it may be possible to motivate a temporary change to your repayment plan. Though you should expect to get push back from your credit providers (who want money every month) this can be arranged if you allow enough time to prepare everything. The Magistrate may not agree with the request and there is no guarantee but this is something you should discuss in detail with your Debt Counsellor weeks in advance. Realize too that there will be costs and time consequences. Amending a court order (even temporarily) is a lot of work and is not always the correct option. Your Debt Counsellor may rather talk to you about making life style changes like selling assets or renting out part of your home rather than mess with the existing court order.

Photos and Images by Freepik.com

DEBT REVIEW SCHOOL did you know you can ask your employer to review your current salary attachments (EAOs) and perhaps have them reduced?

STAYING IN DEBT REVIEW

THE NUMBER ONE RULE OF DEBT REVIEW Every Debt Counsellor will tell you the same thing if you ask them what the most important rule of debt review is...

â&#x20AC;&#x153;Never miss a payment!â&#x20AC;? This means that even though the cost of living is going up and your salary may not you need to ensure you make your payments. Become the best shopper you can, live smart, try to earn more and very importantly stick well within your budget each month. This will help you stay in the process even when the cost of living increases over time.

KIM ARMFIELD

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THE WI

INNERS

Sitting on the deck overlooking the city of Cape Town from majestic Table Mountain to wind swept Table Bay you may be forgiven for thinking that there is no water shortage in the Cape. In fact, you may forget all your woes when visiting the luxurious Cloud 9 Boutique Hotel and Spa.

Situated at the foot of Kloof Nek road just off Cape Townâ&#x20AC;&#x2122;s trendy Kloof Street, the hotel offers pampering both for the body and pocket. The hotel is an amalgamation of five long standing, heritage properties at the bottom of the road that leads one directly to either the iconic Table Mountain or the pristine Clifton and Camps Bay beaches.

Guests can enjoy the many amenities at the Hotel and Spa in between exploring the city. There is a Sauna, Three treatment rooms within the Spa and the absolutely fantastic sun deck overlooking the city. The totally unobstructed 360 Degree view is hard to beat and can hardly be found elsewhere in the city.

The entire facility is the total opposite of the usual Cape Town mass accommodation hotels that many are so used to and brings an intimate quality to your stay. The friendly and helpful staff operate the front desk 24 hours and are only ever a moment away. The rooms themselves are luxurious with Satellite TV and all important WiFi (Fibre) and aircon. This makes for a cool and refreshing break between cruising the local neighborhood shops and restaurants. Besides being decorated in a fresh and trendy look, the rooms also feature little extras like Nespresso coffee machines and stunning views. Guests looking for some cultural enrichment can even take a few moments to enjoy the local artwork displayed within the hotel. Take a moment to check out Cloud 9 online at www.hotelcloudnine.com and you may have found your next accommodation choice when visiting Cape Town.

DEBT REVIEW SCHOOL did you know... The proper name for what most people call a “Garnishee Order” is actually an Emolument Attachment Order (or EAO).

NTOMBI DEBT COUNSELLORS & SERVICES Debtfree took some time to speak to Emerldah Ntombi Mtetwa, the owner of Ntombi Debt Counsellors and Services.

Emerldah Ntombi Mtetwa Ntombi Debt Counsellors and Services TEL: 013 243 1220/ 010 110 8700 FAX: 086 609 9132 EMAIL: info@ndcservice.co.za

How long have you been a DC? Iâ&#x20AC;&#x2122;ve been a Debt Counsellor for 4 years. Since being registered in 2015.

What did you do before becoming a DC?

Why did you become a DC? As I was working for the Department Education I realised that we all lack the knowledge and information about financial matters.

I also realised how we need to be updated about all changes that are happening around us in terms of I was working for the Department being over indebted. of Education for 17 years as an administrator. I later worked for I was also in a negative financial other Debt Counsellors while I was situation after my divorce and it had studying for the National Credit personal impact on me, it was after Act (the Debt Counsellor) course. I that when I realised that I need to became full- time Debt Counsellor try to help those who end up in the in 2015. same situation I used to be in.

What area (of SA) do you practice in? I have a small DC company based in Middelburg (Mpumalanga) as well as in Boksburg (Gauteng) and we can help any consumer no matter where they are located across the country.

What makes your business a success? I have a passion for people and I understand their position since I was once there myself. I use Batho Pele Principle which I learned as a government employee. I know all basics on how to help consumers. My business core values are Integrity, Liberty, Trust, Professionalism, Peace, Respect, Honesty, Responsibility, Accountability and Empathy. I give my clients all the attention they deserve by assisting with openness and trying to communicate honestly with them. I offer every consumer the same quality of service and confidentiality is 100% guaranteed.

Where do you find new business? Most of my new clients come to us from word of mouth promotion from the clients that I already have. I also do occasional presentations to companies and government institutions.

Who are your most and least co-operative credit providers at the moment? The most co-operative credit provider in my opinion is Consumer Friend and sadly I find that the least co-operative currently are SA Taxi, African Bank and Nedbank.

What is the biggest challenge facing Debt Counsellors at the moment? The biggest challenge we are facing is the issue of transfers of clients from other DC and consumers who are not co-operative when we are trying to assist them.

What advice do you have for consumers with debt stress? Debt Stress is a serious issue that creates a lot of challenges in the work place and in personal lives. It causes a lot of negative issues in our lives, often because of ignoring the core of the problems. Here are 10 tips that I like to share with the consumers:

What is the biggest challenge facing your consumers at the moment? The Recent VAT increase and minimum increase of wages is placing a lot of stress on our clients. We also see the loss of employment and many cases of reckless lending to low income earners and pensioners.

1. Donâ&#x20AC;&#x2122;t ignore your debt 2. Prioritise and pay your debts 3. Avoid borrowing to pay off debts 4. Cut down expenses 5. Never skip your payments 6. Prioritise your loan payment 7. Always act on a letter of demand 8. Act now, do not wait until itâ&#x20AC;&#x2122;s too late 9. Seek help from a debt counsellor 10. Start saving today

What advice do you give consumers who are already under debt review? Consumers under debt review have both rights and responsibilities: Debt Review Consumers have the Right to: 1. Apply for debt counselling. You are not doing anything wrong. You are being smart. 2. Consumers have a right to request for, and be provided with, reasons if the application for debt counselling is rejected 3. Consumers have the right to a written disclosure of fees applicable prior to applying for debt counselling 4. Consumers have the right to a full disclosure of the debt counselling process prior to applying for debt counselling

5. Consumers have the right to receive distribution statements from their debt counsellors and PDAs on a monthly basis 6. Consumers have the right to be legally protected 7. Right to pay an affordable reduced instalment 8. Right to be issued with a clearance certificate once all short term debt has been paid up 9. Right to be updated with all changes happening during the process

Debt Review Consumers have the Responsibility to: 1. Ensure full and correct financial disclosure at time of application 2. Make monthly repayments as agreed with the Debt Counsellor 3. Follow up on monthly payments made to the PDAs 4. Ensure that they understand the process, applicable fees and implications 5. To Make payments regularly to the Debt Counsellor for their fees 6. To notify the Debt Counsellor of any changes in their financial circumstances.

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DEBT REVIEW SCHOOL Courts now only allow consumers to be garnished (through a EAO) 25% of their total income.

NEWS

NCR TO TRY REGISTER 40 000 ILLEGAL CREDIT PROVIDERS

DEBT REVIEW AWARDS

A recent Report commissioned by Wonga on illegal credit providers estimates that one household out of every 100 in the country is involved in illegal lending. It is estimated that there are around 40 000 unregistered credit providers operating in SA, compared to the 6000 currently registered ones. If a person or firm want to lend money (and charge fees) then they must be registered with the NCR. Those who do not face possible fines or criminal charges. At present the NCR is engaged in a campaign to travel the country and get these loan sharks and mashonisas to register with them.

The 5th Annual Debt Review Awards Gala was held in Cape Town this month. Guests from government, the courts, PDAs, credit providers, the public and Debt Counselling firms across the country attended. Guests were alternatively entertained and abused by funny host and demotivational speaker Mr. Rob Van Vuuren. The results of the annual industry peer review were announced and Awards and certificates were handed out. The gala also featured presentations and speeches, as well as, videos from various parties in the industry.

CREDIT PROVIDERS R AIDED BY COPS OVER NCA VIOLATIONS

DREX AND SIMPLICITY INTEGR ATION

NCR & SAPS raid 4 credit providers in Grahamstown, Somerset East, Fort Beaufort and Humansdorp at the start of the month. This is the latest in their ongoing efforts to crack down on consumer abuse by unscrupulous credit providers. During the raids the police recovered around 700 Bank cards and SASSA grant cards as well as 12 ID books. It is illegal for a credit provider to demand these from their clients. Charges have been laid against the credit providers and the matters will be referred by the NCR to the National Consumer Tribunal who may issue huge fines.

Debt Counsellors who make use of Simplicity to manage their debt counselling practice and communicate with Hyphen PDA were pleasantly surprised to find out that the system will now be able to talk directly with Consumer Friendâ&#x20AC;&#x2122;s DReX system. This means that the two systems are able to send information securely back and forth. This enables the Debt Counsellor to get documents and figures from Consumer Friend about their clients accounts seamlessly all in one place.

CONSUMER FRIEND REVEAL CONSUMER ACCESS TO DREX

CAPITEC & VICEROY CONFLICT DISCUSSED AT PARLIAMENT

Consumer Friend have a huge computer data switch which they have opened up to Debt Counsellors so that they can draw consumer account information and documents. This enables the Debt Counsellors to get information that is up to date and much more accurate in a few minutes. They are also able to submit documents via the system.

The ongoing conflict and accusations between Viceroy and Capitec Bank eventually made its way to the SA parliament. Viceroy has repeatedly released reports and claims that Capitec are lending irresponsibly and recklessly (while shorting Capitec Bank Stock and making a profit off the market dips). Representatives from Capitec Bank were asked to report on the matter and the accusations made by Viceroy. Many parties sprang to Capitecâ&#x20AC;&#x2122;s defense including the SA Reserve Bank who said that they feel Viceroyâ&#x20AC;&#x2122;s accusations and allegations are not accurate. Capitec have stated that they have actively tried to avoid a press war with Viceroy despite provocation.

This system which is called DReX is very versatile and can enable others to also access specific types of documents and figures. Recently, they announced that consumers will be able to go onto the system and check on their own figures without having to involve the Debt Counsellor (which can be time consuming).

We offer back office services to Debt Counsellors including: 17.1, 17.2, Capturing CoBs, sending your proposals and helping handle court or NCT applications. Our full call centre and payment division can help you reduce your overheads and cut staff expenses. Cell: 083 232 1908 | Tel: 086 722 7405 | Email: elmarie@dcoperations.co.za

www.dcoperations.co.za

SCAMMERS TRY TO CON DCASA MEMBERS Recently some scammers got hold of the mailing list for DCASA members and began a campaign of trying to convince members that the Associations bank details had changed. This is a common scam and is often thrown at consumers under debt review. This time the con was aimed at getting members to pay their monthly membership fees to a new bank account (operated by the scammers). This follows after a recent viral mail from a senior DCASA members mailbox asking for emergency funds to be paid to his account (with the promise of the money back). DCASA have made it clear that their bank details did not change and the member involved did not send the email.

NEW PDA REGISTERED A new Payment Distribution Agency (PDA) has been registered by the National Credit Regulator. This brings the currently registered total to 4. The new PDA is called CollectNet [you can learn more about them in this issue]. A payment Distribution Agent is a company provided for in the National Credit Act who handles payments to various credit providers on behalf of consumers (who just make a single monthly payment to the PDA).

STUCK

U S I N G

ANCIENT

T E C H N O L O GY ?

Contact Maximus on 011 451 0041 | www.dcmax.co.za

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?

086 111 2882

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

www.in2insurance.co.za

donâ&#x20AC;&#x2122;t be a twit

http://twitter.com/Debtfree_DIGI

Die Republiek van

SKYT AFRICA Haai daar Almal, Ek wil hierdie maand gesels oor bagasie, bagasie wat ons saamsleep. Ek kyk nou die dag rond terwyl ek in die winkel is en bemerk toe dat die meerderheid dames handsakke ronddra wat soos klein koffers lyk. Wat veral opvallend was is, wanneer dit by die betaalslag kom word die hele handsak omgedop om die beursie in die hande te kry. Is al die items in die handsak werklik nodig of het dit net n gewoonte geraak om dinge rond te dra vir ingeval? Elke man wat al die kar moes pak voor daar met vakansie of selfs ‘n naweek weggegaan word het al verstommend gestaan aan die hoeveelheid bagasie daar is vir die beperkte ruimte van die bagasiebak. Alles wat die wederhelf en die kinders voel is noodsaaklik en beslis nie tuis gelaat kan word nie en waag dit net om te sê gaan pak minder en in kleiner tasse. Dit is al asof ons bang is om iets agter te laat en dat geen winkel by die eindbestemming die “noodsaaklikheid” in voorraad sal hê nie.

Dink maar aan die Grieke wat die maraton nakend gehardloop het sodat daar niks was om hulle terug te hou of die wedren moeiliker gemaak het nie. Ek sĂŞ nie ons moet nou almal kaalgat rondhardloop nie maar dat ons moet dink aan die bagasie wat ons dag in en dag uit rondsleep. Die swaarste bagasie wat ons kan ronddra is emosionele bagasie, dit is bagasie wat ons deurentyd nie net mismoedig maak nie maar ons ook verhinder om vernuwend te dink. Diegene wat in n finansiĂŤle verknorsing verkeer sukkel dikwels om van die verlede met al sy bagasie ontslae te raak en n nuwe begin te beplan en deur te voer. Die verlede met al sy bagasie is soos n motor se handrem wat aan is terwyl jy probeer wegtrek, elke poging gaan gefnuik word en iets gaan breek. Om n nuwe en vars begin te maak moet daar eers van die bagasie van die verlede ontslae geraak word, ontkoppel daardie handrem in jou lewe en beweeg vorentoe met nuwe ywer en doelwitte. Jy is dit aan jouself en jou gesin verskuldig. Moenie aan hou voortploeter en hoop jy gaan die Lotto of iets dergeliks wen nie, moenie jou bagasie vermeerder nie, raak ontslae daarvan, dit is nie n juk waaronder jy gebuk deur die lewe hoef te gaan nie. Groete.

Christo Hattingh Kyk gerus my LinkedIn profile: https://www.linkedin.com/in/christo-hattingh-351a52130/ * Seriously please do let us know if you found this article to be funny/offensive/amusing/interesting feedback@debtfreedigi.co.za

PROFESSIONAL DEBT COUNSELLING ATTORNEYS TEL: 021 872 1968 1 1 M A R K E T S T R E E T, PA A R L w w w. s t e y n c o e t z e e . c o . z a

Debt Counsellors Collective

Public register of slow paying companies. Before you do business with anyone, click to see if they are listed

iDCC is waiting to hear back from the NCR in regard to our official request to join CIF. We encourage non-affiliated DCs to join.

http://www.gentlereminders.club/

We encourage all member DCs to sign up to use Consumer Friendâ&#x20AC;&#x2122;s DReX system to make their lives easier.

www.allprodc.org

We want to congratulate all our collegues who won awards at the Annual Debt Review Awards Gala www.bdcf.co.za

Regional Meetings Free State 13 July Gauteng 17 July W Cape 24 July Annual DCASA Conference Gauteng 22 August Check the website for upcoming regional meeting dates in other provinces. www.dcasa.co.za

We want to congratulate all our members and industry players who won awards at the Annual Debt Review Awards Gala

COLLECTNET The National Credit Regulator recently registered the 4th PDA (Payment Distribution Agency) since the National Credit Act was amended to include the functions of a PDA. The new PDA is called CollectNet and Debtfree got to speak to them and ask them questions about their operation. Website: w w w.collectnet.co.za Contact: 012 140 0602 info@collectnetpda.co.za PDA - Marcelle Williams Contact: 012 140 0602 â&#x20AC;&#x201C; ex t. 7205 marcelle@collectnet.co.za PDA Operations - Malcolm Povey Contact: 012 140 0602 â&#x20AC;&#x201C; ex t.7701 malcolm@collectnet.co.za

Where is CollectNet How long has based? CollectNet been CollectNet PDA operates out of a central office situated in Centurion, around? Gauteng.

CollectNet (Pty) Ltd has been around CollectNet DC Vendor System is for 5 years. Our sister company web based and we can service Debt - Capital Software has been in Counsellors countrywide. operation since 1968 (50 Years).

What kind of expertise do you have on your team? The Head of the PDA - Marcelle Williams - has been in the financial industry for the past 20 years both in the Major banking and IT environment and is a Chartered Accountant. The Head of Operations â&#x20AC;&#x201C; Malcolm Povey - has been involved in the Debt Review industry since April 2010. He was the former Head of Operations at Hyphen PDA until retirement in February 2018. He was a seasoned banking veteran for 90% of his extensive career.

How familiar are CollectNet with the collections/ distributions business?

CollectNet (Pty) Ltd has focused All our Customer Support Specialists on transactional business since have either Debt Counsellor, PDA or inception and is registered as a TPPP Credit Provider experience. and SO.

What is the corporate structure at CollectNet? CollectNetâ&#x20AC;&#x2122;s top structure is run by both Rene Pillay and Marcelle Williams. CollectNet PDA is directly headed by Marcelle Williams with Malcolm Povey as Head of Operations and Kagiso Moshapo as Head of Finance.

When did CollectNet register with the NCR? CollectNet PDA was officially registered as a Payment Distribution Agent on the 29 March 2018 and was issued the NCR registration number: NCRPDA4

Was it a difficult process (registration)? Yes, due to the serious nature of the work we do it was time consuming with lots of reports, structures and audits but it was all worthwhile in the end.

What are CollectNet’s goals/values?

Why should Debt Counsellors and consumers use CollectNet? CollectNet PDA offers an all in one CRM DC Vendor System to Debt Counsellors which is fully integrated with CollectNet PDA’s Electronic Payment System (EPS). It has been self developed and is our own custom built system. We look forward to future integrations into the Consumer Friend’s DReX system as well as iDocs.

People are welcome to visit our Simply put, we want to provide an website www.collectnet.co.za or give innovative and cost efficient solution us a call and chat. We would love to for Debt Counsellors. discuss our services with you.

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