June 2010 DEBTFREE

Debtfree South Africa’s debt counselling magazine

JUNE 2010 www.debtcounsellingsa.co.za

Editor

We have a lot to tell you in this issue.

From our insights on the BASA’s new proposed rules engine to our indepth look Payment Distribution Agencies and their challenges.

Contents

The World Cup “is here” and impulse spending is up. So beware that you too do not get swept up in the spending frenzy and over extend yourself. Of course, you want to get together with your friends and enjoy watching a match or maybe you just feel like doing something nice for a change. If so, enjoy our article: Entertaining while under debt review for some hints and tips.

02

Editors notes

03

Decoding the jargon

06

By accident

06

Precedents

Then, of course, there is all the usual news and other juicy stuff as well.

10

The new rule set

All in all, we hope you enjoy this issue.

14

NCR task force

16

Entertaining under debt review

18

News flash

20

Service directory

Editor

CONSUMER

Decoding the jargon PDA’S Debt Counsellors and Creditors often mention them. What are they?

How does one qualify to be a PDA? How many are there at present?

Becoming a PDA entails a very rigorous and Payment Distribution Agencies (PDA’s) are the demanding tendering process. The NCR opens companies who handle the money side of the up a window for a limited amount of time debt counselling process. Many consumers do during which interested parties must submit not realise that the Debt Counsellor is one step their tenders. Once this process has been removed from their funds and is lenient upon completed the NCR will carefully select those the PDA’s to distribute funds on behalf of the they deem fit to become PDA’s. The criteria for client (PLEASE NOTE: the PDA’s only distribute the selections of PDA’s is set out and regulated funds that consumers deposit with them. They by the NCR – who is the sole governing body do not make payments “for” the client from of PDA’s. Currently there five NCR appointed their own funds. The PDA’s can only distribute PDA’s what the consumers pay into their accounts and can only do so when the consumer makes Do PDA’s carry insurance or liability cover? these payments). The PDA’s also keep records Yes, as it is one of the NCR’s requirements. of all payments and help track the amounts owing by consumers to creditors. Most produce Is there a PDA Association?What is its history monthly statements for the consumer. & future?

At present there are five PDA’s in South Africa: A PDA association (PDASA) has been National Payment Distribution Agency (NPDA), established by the five registered PDA’s. The Consumer Protection Excellence (CPE), DC PDASA might have been established for many Partners, Hyphen and African Bank. reasons and we cannot speak on their behalf, but in general, we believe it is their goal to assist We spoke to Herman Joubert PDA’s in efforts to standardise certain aspects of their duties that we perform. PDASA closely of DC Partner to gain insight works together with Credit Providers and the into what PDA’s are and what NCR to identify challenges and problems in the industry and to find solutions and make challenges they face recommendations.

How & when did DC Partner come into existence?

DC Partner was the joint brain child of its shareholders whom have been involved in various aspects of the debt industry before Debt Counselling came into effect. With the various shareholders boasting more than a decade’s specialized experience in the debt industry (receiving and distributing funds) applying for a PDA licence was just a next logical step and from there on there was no turning back.

DC Partner was officially appointed as PDA in October 2008 and has been growing steadily ever since.

Factors such as the shortcomings of the Credit Act, uncooperative role players and systems that needs to be fine-tuned around the ever evolving debt counselling industry definitely poses challenges to us What is Debt- Wise?

Debt –Wise is a web based software system that has been designed to assist the Debt Counsellor in his various day-to-day administrative tasks.

Right from the beginning it was apparent that the substantial amount of work required of a Debt Counsellor had to be catered for with a easy to use software system. Debt –Wise also supplies the software that DC Partner uses for its distributions.

What are some of the challenges PDA’s face?

As the industry is still in a pioneers phase, there are a wide variety of “growing pains” that need to be dealt with on a daily basis.

Factors such as the shortcomings of the Credit Act, uncooperative role players and systems that needs to be fine-tuned around the ever evolving debt counselling industry definitely poses challenges to us. As a PDA and one of the role players in the industry, we are committed to do our best in communicating and working together with all other role players in the industry to eliminate these problems.

Where do you see the PDA industry (and DC Partner) going in the future?

In the future we would very much like to see PDA’s becoming recognised institutions by means of legislation. As this is still a young industry and change is inevitable, we see the role of PDA’s evolving and mutating in future.

As for DC Partner, we would like to continue providing excellent service to our clients and being a valuable link between Debt Counsellors and Credit Providers and opening up channels of communication between these parties.

How is DC Partner looking to improve your service to your clients?

Being a PDA, we obviously understand the importance of the functions we were appointed to perform, but we also understand that the manner in which these functions are performed is of greater importance. DC Partner strives to render service of the highest quality to its clients and by doing so, gaining the trust of all role players in the industry and contributing to the sustainability of PDA’s as a whole. We fully realize and appreciate the importance of having adequate systems in place and we

do spend a lot of time on that, but what is of the greatest importance to us is to focus on rendering personalized service to our clients, being approachable and being trusted to provide accurate and timeous feedback when requested to do so.

What is your take on the Banking Associations offer of a new free back end “rules engine” that they would like to see used as an option by all PDA’s for crafting proposals?

At this stage Debt – Wise regularly attends workshops and meetings with other “front end” developers to discuss initiatives such as the above. From DC Partner’s point of view, we can only say that we welcome, and are always open to new initiatives – especially if they would have a positive impact in the industry.

At the end of the day, we would all love to see the Debt Counselling industry reaching the heights it was intended to by National Credit Act.

As this is still a young industry and change is inevitable, we see the role of PDA’s evolving and mutating in future... we would like to continue providing excellent service to our clients and being a valuable link between Debt Counsellors and Credit Providers and opening up channels of communication between these parties

PDA’s are a vital part of the debt counselling process and they face various challenges. In September of last year, it was confirmed that approximately R 125 million per month was distributed by the five PDA’s and this amount is set to grow exponentially in future as more and more people are going under debt review.

Roughly 70% of all funds distributed by the PDA’s go to the five major banks.

DC PARTNER

We firmly believe that there is bright future for debt counselling in the credit industry, however, it will depend on the joint efforts of Consumers, Debt Counsellors, PDA’s and Credit Providers. We at DC Partner are fully committed to make this process work.

For friendly and reliable service, a free demo programme or additional information on DC Partner or Debt - Wise, please feel free to contact us.

Telephone (044) 873 4440 Email hr@dcpartner.co.za or

CONSUMER

By Accident A consumer under debt review recently had a bad scare. He was involved in a car accident.

At present he is paying the vehicle off through the debt review process. Fortunately he was not hurt in the accident. The driver of the other car (uninsured), who jumped a red light, hit the consumer’s vehicle on the empty passenger’s side. While the consumer was ok, the car on

the other hand was not.

The accident now presented the consumer with several challenges (not least of all was how to travel around while the car was at the panel beaters) one of which was: What if his vehicle was “written off” by the insurance

Some insurance firms have an excess cover facility such as DebtPlan’s “Deposit Cover” policy which assists should you ever need to put down a deposit on a rented vehicle while under review or need to cover an excess payment to your insurance company? How would the client be able to afford to procure new transport as he is under debt review and cannot access new credit?

have saved up). Since these were extreme unplanned for circumstances, a Form 17.3 letter was sent along with “proof” of the expense to all the consumer’s creditors. This was sent Attorney Dave Dewar answers along with an amended repayment plan for It would depend on the insurance contract. If the month after the accident; from where the insurance is ceded to the bank or there is funds were taken to cover the unplanned for another link making the bank the beneficiary, expense. then they would be entitled to the proceeds Some insurance firms have an excess cover under the policy. If there is no such cession or facility such as DebtPlan’s “Deposit Cover” link, then the proceeds would need to go to the policy which assists should you ever need consumer. The proceeds can then be used to to put down a deposit on a rented vehicle purchase a new car for cash while the finance while under review or need to cover an excess agreement is paid off over time. I do however; payment to your insurance. expect that there will be a bit of a fight about it. The matter could be referred to the FAIS If this is something that concerns you, talk to Ombud if necessary. your broker or to your insurer and see what is It seems that this is a legitimate concern. Clients built into your current policy. in this position would need to begin renting a vehicle and may therefore need their Court Order amended to allow for this increased cost.

As the above case worked out, the vehicle was not “written off” but the consumer was asked for R2000 insurance excess (which he did not

INDUSTRY

THE NEW RULE SET The Banking Association of South Africa meeting with Debt Counsellors (June 2010) This month the BASA have been meeting with Debt Counsellors around the country (particularly members of the DCASA) to discuss and get input regarding their proposed new Rule Set which they wish to make available to DC’s to use in working on proposals.

Debtfree was invited to attend the meeting held at African Bank (Riebeeck st. Cape Town) on the 7th of June 2010. Here are some of the

main points: In the past there have been “Rule Sets” suggestions for debt restructuring proposed by different organizations. One such organization, called the NDMA (National Debt Mediation Association) has a set of rules (guidelines) that became quite popular with the banking institutions in 2009. However this rule set was for Debt Mediation and not for Debt

Counselling and so had little or no bearing on how DC’s made their proposals unless they actually joined the NDMA. Now when you hear the word “rules” you may think that these are set in stone and these would then become the only way a debt restructuring proposal could be put together. This is not the case. This is simply one way of restructuring the debt to try solving it in such a way that all the creditors involved receive a “fair” portion of the collectable amount and all make the same sacrifices along the way. However DC’s would not be obliged to use the rule set and indeed in some cases the suggested rule set will not be able to come up with a solution based on the available funds. This is why consumers will still need Debt Counsellors and computers will not take over the industry anytime soon.

The presentation of the rule set was given

by Johan de Ridder (a BASA member as well as a member of the NCR’s recent Task Team).

The rule set was tried out on a sample of 2760 consumers’ information supplied randomly by DCM. The sample contained 1/3rd with only unsecured debt; 1/3rd with secured debts (such as houses and cars) and 1/3rd mixed.

be paid off quickly as a priority. If this does not work then a reduction in rates among all creditors relative to what they were charging is looked at.

Here were a few of the highlights of the proposed rule set Deemed terms on debts and the suggested repayment term: (a Deemed term helps DC’s work out what the monthly repayments toward a debt should be when no term is given in a CoB) For debts below R1500 the deemed term was 12 months (Here the rules engine would try to suggest a repayment term of 18 months) For debts over R1500 but less than R3600 the deemed term was 24 months (Here the rules engine would try to suggest a repayment term of 36 months) For unsecured debts over this amount the deemed term was also 24 months. (Here the rules engine would try to suggest a repayment term of 60 months) For bonds the suggested adjusted repayment term would be a maximum extension of up to 240 months ( as long as this would not take the total lifespan of the bond over 360 months Mr. de Ridder showed how the rules altogether) were applied and the results For vehicles (for private use) the suggestion The general idea behind the rules is that was a term extension of 1.5 times the term of sacrifices in charges and fees as well as interest the original contract period (with a maximum rate percentages are made step by step to term altogether since purchase of 84 months) allow the creditors to try recovering their funds over targeted terms (the time it takes to repay Rates the amount in months). So for example: Step An extreme suggested floor rate (where one in the rules engine is that all charges and interest could drop down to in extreme cases) account fees are removed from the clients was: Repo + 2 % on secured debts and 0% on account (with account fees being around R50 unsecured debts. There is even talk of writing per account, per month that can add up). Then off portions of the debt after the extreme the next step is to see if the smaller debts can extension period for unsecured debts.

When these rules were applied to the random sample supplied by DCM the solve rate was 67%. So basically in the examples they had, it worked out nicely 2/3rds of the time.

So you may ask what benefit is there to using these rules?

Well, here is where it gets interesting, the BASA have approached all the PDA’s in the country and offered this rule set (with some further refinements) to them free of charge. They have offered to cover the cost of getting this rule set into the hands of DC’s through their usual calculation programs. This is nothing new. At present at least one of these programs makes the NDMA rule set available as an option when working out a proposal to restructure the debt.

This would be a similar thing where the DC could choose to try this new rule set to try work out a proposal.

If the statistics from the study hold true then this rule set would work out a proposal 2/3rds of the time. Then the program would supply the DC with a proposal with a “special” reference number which confirms that this rule set was used and most registered Credit Providers have committed (in theory) to simply accept the proposals straight away without even trying to run all the figures through their calculating programs to see if they “like” them or not. They would do this since they would be content that a Rule Set they all like and agree upon has been used and they should therefore be guaranteed that the proposal is fair to all creditors involved.

Well, that’s the theory.

The BASA feel that this will speed up the process in 2/3rds of the cases and reduce the amount of work they have to do to “check” each proposal they receive (since each will now have this special ref number attached) Which they feel

obliged to do in case the DC is making a bad proposal and is no good at his job (our words, not theirs).

There are several challenges that could hold up the implementation of this rule set and it’s being made available to DC’s any time soon.

Firstly there is one large Credit Provider who is not particularly interested in how the proposals are made up and may still question proposals received with the “special” reference number.

Next there is the difficulty of integrating the rules set (which would be hosted on an outside server) into each of the many different PDA/proposal generating systems that DC’s use. The BASA are optimistic and feel that once all parties are onboard the system could be available in only 3 months. However that sounds very optimistic.

While this Rule Set seems to simply favour the creditors in that it cuts down on work they have to do when they second guess the proposals sent by DC’s. It may help speed up the process for all involved which can’t hurt. Since it will be simply an option the DC’s can use before they submit the matter to Court it is also not restrictive in the 1/3rd of cases where the rule set does not work and other options need to be looked at. Add to that that the PDA’s and DC’s do not need to pay anything to have them available as an option and … well, FREE is a Debt Counsellors favourite price.

It still remains to see if this proposed rule set will ever actually see the light of day and if it will be ignored much like the NDMA Rule Set but most DC’s feel happy to be consulted on the proposed rules and most at the meeting in Cape Town seemed content with the suggested rules (with one or two concerns which will be looked at by the BASA)

CONSUMER

INDUSTRY

NCR TASK TEAM What is it?

The National Credit Regulator (NCR) announced last December that it was setting up a task team to provide solutions to the bottlenecks in the debt review process. According to the NCR’s statistics on average 9000 new consumers apply for debt counselling per month. This figure is still on the rise, despite numerous interest rate cuts and a significant drop in inflation. The Task Team’s recommendations will serve as an interim solution, while the NCR awaits changes to the legislation.

The Task team comprises of Peter Setou, Paul Slot, Johan de Ridder & Rob Easton-Berry

Easton-Berry. The team is assisted by Marlene Heymans (NCR) and Marissa Erasmus of the University of Pretoria Law Clinic.

Its objectives include • Identify primary causes of current backlogs and delays in finalising debt restructuring • Propose common standards and procedures, which would facilitate the processing and finalisation of applications for debt counselling • Establish mechanisms through which Credit Providers, Debt Counsellors and PDA’s can engage on operational and procedural problems with the implementation of debt restructuring proposals • Establish mechanisms through which disputes in relation to specific cases can be resolved.

• Provide regular information through circulars or similar mechanisms to Credit Providers and Debt Counsellors on any standard procedures or documentation • Assist and advise NCR with the objective of implementing an effective debt counselling process, as intended by the National Credit Act.

The Task Team on Debt Counselling has to come up with “quick wins” and is anticipated to be around for about 6 months. The Task Team is comprised of individuals selected for their experience and knowledge in the field. It is chaired by Advocate Neville Melville, whose experience as former Banking Ombudsman and dispute resolution expert is seen by the NCR as critical in mediating between the different parties involved.

Gabriel Davel, CEO of the NCR, believes that We will try to keep you informed on progress Advocate Melville has both “the reputation that the Task Team has made, as their proposed and experience that will be critical in life span period now draws to a close. mediating between the various parties”, and in ensuring that the interventions proposed are “defendable”. The Task team comprises of Peter Setou; Paul Slot; Johan de Ridder and Rob

CONSUMER

Entertaining while under debt review Many find the transition to life under Debt Review challenging. Not only does it mean that you no longer have access to credit, it also means that you have a new “best friend”- a budget, and generally speaking the budget is a tight one.

Before you may not have thought twice about inviting your friends around for dinner and gone running down to the shops to grab a few items.

Now your Debt Counsellor is encouraging you to do your shopping once a month and to budget for all your expenses well in advance.

Does this mean the days of entertaining are behind you and you are now relegated to the status of social pariah? The answer is no.

While it is true that you may not be able to go to lavish and outrageous extremes in your entertaining a simple change of mindset may be all that is required.

The Venue: Before you may have hosted events at hired locations and maybe even had decorators come in and do the heavy lifting for you. Well, on a tight budget that is no longer practical… even for major events like weddings and anniversaries. You may need to scale back a bit and do more of the heavy lifting yourself. If you wish to host a gathering- can it be held at your place? If it can’t, you may have a friend with a nice back yard or there may be a public park nearby. All of these locations are available at your new favourite price, free.

Is the event going to be held at night? A few candles can really add atmosphere... and one of your friends may have some lying around.

Weddings http://weddings.lovetoknow.com/wiki/ Cheap_Wedding_Decoration_Ideas Baby showers http://www.ehow.com/how_4841712_ cheap-baby-shower-decorations.html Engagement parties http://www.ehow.com/list_5985470_ cheap-engagement-party-ideas.html Catering When hosting an event do not be shy to ask others to chip in and bring things. There is the famous adage about the “stone soup”. If you have never heard of it before the story goes: A family who had no food supplies during tough times had only an empty cooking pot and some water. How would they find enough to survive? They invited their neighbours to join them for some “stone soup”. When the neighbours asked what stone soup was they told them it was a delicious soup with only water and a single special stone for ingredients.

Well the neighbours (who they went to invite one by one) were all curious and doubtful and all asked if the soup would not taste better

with other ingredients. Admitting that it may, the family invited each of their neighbours to bring an ingredient that they thought would improve the taste... which they did, tomatoes, potatoes, meat etc. You get the picture. Pretty soon the family and all their guests were enjoying a delicious soup full of ingredients. All their guests agreed that stone soup was after all very tasty. Best of all, in the amusing story, the family have plenty soup left over when everyone goes home. (I have changed it ever so slightly, in the original fable it is a stranger who visits the town) But you get the point.

Feel free to ask other to contribute. If they have funds and you don’t, offer to bring the rolls and ask them to bring the boerewors. You supply the ice-cream for dessert and ask two others to help bring items for the main course let them cover the pricy items while you still contribute.

Soup is a winter favourite and can be made very affordably. Ask your guests to bring the some rolls.

Remember you may need to scale back on what you used to do. Maybe you used to entertain every weekend. Well, that may not be practical any more. It may be time for you to go to visit your friend’s places for a change, rather than have them visit you all the time.

Where once you may have offered your guests caviar and champagne you may need to simply invite your friends around for a cup of coffee and a game of cards or to watch a movie. It is more of a mind set change than anything else.

After all, your friends weren’t coming for the fancy snacks; they were coming to visit you.

Really NEED to hire a venue?

Why not ask all invited if they could contribute a bit toward the cost. If you find the right venue at the right place and everyone chips in, you may not have to cover the whole cost yourself.

INDUSTRY

NEWS FLASH

This month ABSA made something of an error in their communicating with Debt Counsellors Early in the month, they sent out instructions that they had changed their stance on the subject of serving of court documentation and would only receive service of court documents

by Sheriff to the following addresses: Servicing of Debt Counselling Court Applications, Consent Orders and Court Orders: 8th Floor Marble Towers, 208 Jeppe Street, Johannesburg, 2000 Servicing of Reckless Credit Applications: 16th Floor Towers Main, 160 Main Street, Johannesburg, 2000 Previously ABSA were prepared (like most creditors) to accept service via fax or email to a specific fax number and email address. This change was set to push up the cost on the legal side of things and potentially slow the serving process.

ABSA requested that the Notice of Motion should be sent at least ten (10) days prior to date of hearing - a very reasonable request.

ABSA then requested that Debt counsellors and attorneys specifically refrain from faxing or emailing any of the above mentioned court documentation even though they may previously have been granted permission to do so.

One day later, Ally Mafunzwaini (General Manager of Customer Management at ABSA) issued a statement making a full retraction of

these instructions as follows: Quote “With reference to the communication dated 03 June 2010, with the subject “Court Documents regarding Debt Counselling Matters and Reckless Lending Credit”, the communication is herewith retracted as it was sent out prematurely.

The process of serving Court Documents prior to the above-mentioned communication remains unchanged.

Please accept our sincere apologies for any inconvenience caused.

Further communication in this regard will follow shortly.” end quote So if you are a Debt Counsellor or attorney working with a debt counselling matter involving ABSA and have received the first set of instructions please ignore them...they “take it back”... OOOPS. However from the phrasing of the communication from Mr Mafunzwaini (“prematurely”) it looks as if ABSA will probably issue a similar request again in the future...

For further information: ABSA Debt Review Call Centre on 0861 005 901

INDUSTRY

NEWS FLASH

Call for more information by NCR regarding FNB Terminations of Debt Review Applications Many DC’s have recently been inundated by termination letters from Nedbank and FNB. As a result some DC’s are spending more time trying to mail proof of payments and court orders to these creditors than actually helping consumers restructure their debts. Whether this is a specific campaign to bog the DC’s down in a morass of paper work is a topic of much speculation. Either way it is really disrupting their ability to earn income and service the needs of their clients. As a result many DC’s are now complaining to the NCR about the subject.

Recently Mr Gabriel Davel encouraged sending in examples of “specific details of the cases”… “to the NCR’s investigations department,

together with supporting documentation.”

Obviously the NCR cannot deal with general allegations and need specific evidence to take any action. It is know however that the NCR are now specifically investigating FNB’s conduct in this regard. If you would like to assist them in this regard please send a short summary of the cases involved plus proof directly to the NCR. Emails can be sent to Mark Whale at the NCR: MWhale@ncr.org.za Also working on the matter is: george@ georgesmith.co.za please feel free to cc. him in this regard

ABSA contact centre ABSA have introduced a team to attend to all Debt Counselling related calls within a contact centre setting. They hope this will allow for effective and efficient query management. The

Contact Centre will officially go live on the 1st June 2010, and the following number 0861 005 901 will be activated. short summary of the cases involved plus proof

Debt Counselling in the news THE CITY PRESS will publish a special review on Debt Counselling on 25 July 2010

Service Directory Debt Counselling AA Debt Counselling Centre Anthea Johannes NCRDC531 Tel: +27 (0) 21 982 0522 Cell: +27 (0) 84 402 7032 Alan Watts NCRDC 962 NCR registered Debt Counsellor Tel: 084 4448439 Fax: 086 6501954 alan@active-debt-counselling.co.za www.active-debt-counselling.co.za Central SA Debt Counsellors 082 950 7806 Fax: 086 563 1621 Consumer Assist Andre Snyman Tel: 0861 628 628 Darran Manikam NCRDC704 debt@mailbox.co.za Durban Debt Counselling Services Suite 112, 1st floor Union Club Building 353 Smith Street Durban, 4001 Tel: 031 301-7893 Fax: 031 301-5809 phumla.ngema@telkomsa.net Debt Counselling South Africa Cape Town Branch Tel: 021 919 66 94 Rod De Witt NCRDC831 Visit: www.debtcounsellingsa.co.za for info about debt counselling

Debt Knowledge Debt Counselling 082 379 2337 Debtonators 041 585 0276 Fincorp debt Counsellors cc Cecilia Zwarts fincorpdc@yahoo.com Helpdesk Debt Counsellors Allan Hoffman Tel: 0861 000 754 Help-U-Debt (Vaal Triangle) Wanine Tel: 082 445 3967 Help-U-Debt (Potchefstroom) Madra 083 390 3275 Help-U-Debt (Parys) Marilouise 082 920 6249 Help-U-Debt (Vanderbijlpark) Herma 083 320 8303 NDA Debt Counsellors Your Trusted Debt Counsellors Gary Williams (NCRDC 143) Tel: 034 315 3880 Fax: 086 612 4112 gary@ndad.co.za www.ndad.co.za Think Green Debt Counselling Sandi Pauw sandipauw@mweb.co.za Tel : 012 991 6638 Cell : 082 460 7800 Fax : 086 219 2615

Incentive Debt Counselling “Paving the way to a Debt Free Tommorrow” Darran Manikam NCRDC704 Tel: (031) 409 9379 Fax: (031) 409 1327 Cell: 0845898286 Branches: Phoenix and Shallcross Indigo debt counsellors CC Tel: 087 808 9734 Fax: 086 580 8675 indigodc@iburst.co.za PBC “Consulting your future today” Are your credit cards, car and loan accounts in a mess? Are you running behind on all your payments? PBC Debt Counsellors can help you! We arrange One Payment for all your debt.

Tel: 086 9000 1 U-Win Debt Counsellors Coreli Roos NCRDC509 Aliwal North, Burgersdorp, Bethulie, GariepDam, Smithfield, Springfontein Cell:079 626 66241 croos@global.co.za

Support services Staff Line Ndizani Executive Recruitment Cell no: 083 3028163 Direct Line: (011) 468 - 2150 E- Mail: saki@staffline.co.za

Blank Design For all design and marketing needs including websites, brochures, business cards etc.

Steve Rosenberg steve@blankds.com 083 700 2020 www.blankds.com Designtimes South Africa’s creative resource www.designtimes.co.za

Financial ABSA Customer Debt Repair Line 0860 356 356 Credit Ombudsman 0861 662837 Experian 011 799-3400 debtcounsel@experian.co.za Eric Streso Financial Planner B Juris LL B CFP MBA Tel: 0833273358 Fax: 086 612 7912 Fair Debt 0829019788 or 012-3772558 ray@fairdebt.co.za PACFIN Financial Solutions Head Office Tel: +27 11 9757445 Fax: 0865368783 36 Van Riebeeck road Kempton Park 1619 pieter@pacfin.co.za

Monte Carlo Building No 8 Voortrekkerstreet Kempton Park 1619 Kempton Park Contact: Reyno Coetzee Tel: +27 11 3945363 Fax: 0866048002 Cell: +27 73 3690884 kemptonpark@pacfin.co.za Boksburg / Germiston Contact: Armand Posthumus Tel: +27 11 8921911 Fax: 0865620378 Nelspruit Contact: Ann Baker Tel: +27 13 7415559 Fax: 0880 1374 15559 Cell: +27 82 9024236 jeleroux@telkomsa.net Springs Contact: Wynand Mclachlan Tel: +27 11 8113728 Fax: +27 11 8113728 Cell: +27 83 2754014/5 wynmc@telkomsa.net Gooseberry Business Advisory Tel: 012 644 0589 Nedbank Debt Rehabilitation & Recoveries Services 0860 109 279 STD Bank Debt review Helpline Telephone: 0861 111 402 TransUnion 0861 482 482

Thinkmoney Financial comparison website Contact: Gareth Mountain Tel: 079 0996 798 www.thinkmoney.co.za WIZARD Vereeniging Making Mortgage Magic Wanine Smit Tel:+27 16 454 1132 Fax:+27 86 686 3678 Cell:+27 82 445 3967 www.wizard.za.com

Financial Planning Eric Streso Financial Planner B Juris LL B CFP MBA Tel: 0833273358 Fax: 086 612 7912

Legal Brett Carnegie Attorneys Tel: +27 (21) 4470332 Fax: +27 (21) 4470338 Mobile: +27 (0)82 320 6099 www.carnegielaw.co.za Physical Address: Suite 23(B) Unit 8 Waverley Business Park Mowbray 7700

Legal

Other

Prinsloo & Associates Attorneys and conveyancers Nanika Prinsloo Farm Bergamot, Paarl 7620 P O Box 6199, Paarl 7620 also at:14 Laing Street, Barrydale 6750 Cell: 072-8558-106 Fax: 086-623-5986 nanika@vodamail.co.za www.empowerlaw.co.za

Association of Debt Recovery Agents: 011 781 3337 www.adraonline.co.za

Credit Bureaus Compuscan 0861 514 131 www.compuscan.co.za Computer Profile Bureau 0861 28 7328 www.c-p-b.co.za Experian www.experian.co.za Business- 0861 63 60 70 Consumer- 0861 10 5665 Micro Lenders Credit Bureau 0861 28 7328 www.mlcb.co.za TransUnion 0861 886 466 www.transunion.co.za XDS 0860 937 000 www.xds.co.za

Banking Ombud 0860 800 900 www.obssa.co.za Credit Bureau Association 011 886 8519 www.cba.co.za Credit Providers Association 011 789 6825 www.cpa.org.za Department of Trade and Industry 0861 843 384 www.thedti.gov.za Financial Advisory and Intermediary Services Ombud 012 470 9080 www.faisombud.co.za Financial Services Board 012 428 8000 www.fsb.co.za Furniture Traders Association 011 789 6770 Legal Resources Centre 011 836 9831 www.lrc.org.za Long Term Insurance Ombud 021 657 5000 www.ombud.co.za Micro Finance South Africa 012 345 0809 www.mfsa.net

Motor Industry Ombud 012 841 2945 www.miosa.co.za National Credit Regulator 0860 627 627 www.ncr.org.za Ombud for Short term Insurance 011 726 8900 www.osti.co.za Pension Funds Adjudicator 021 674 0209 www.pfa.org.za South African Fraud Prevention 0860 101 248 www.safps.org.za The Banking Association 011 370 3500 www.banking.org.za

Identity theft SA fraud protection service (free service) www.safps.org.za 0860 101 248

EVENT

EVENT

South African Law Clinic will be hosting a training workshop for Debt Counsellors on the 19th of August 2010 in Bryanston (JHB)

Prinsloo & Associates bied op DONDERDAG 17 JUNIE 2010 ‘n workshop aan in Durbanville vanaf 09h00.Dit is gratis en hulle verskaf ontbytgoetertjies en koffie/tee/sap.

Debt Counsellors Workshop – Practical Compliance Topics: Debt Counselling in South Africa - an industry overview (Peter Setou) Ethical conduct and the Consumer Protection Act – best practice and how to act in the client’s best interests (Stephen Logan) Changes resulting from the NCR’s Task Team into debt counselling (Neville Melville) How to bring Debt Review applications (Mareesa Erasmus) Johannesburg: The Forum, Bryanston; 19th August R4 000.00 per person - Groups of 5 or more from the same company receive a 20% discount To make a booking, please contact Gunther Deutsch at: gunther@salc.co.za

Die workshop gaan oor regsfeite waarmee skuldberaders daagliks te doen kry: hulle gee soveel as moontlik inligting deur oor algemene regsaangeleenthede wat jou kan dien as agtergrond in jou besigheid. En natuurlik ook ‘n gedeelte gaan oor insolvensies.

As jy kan bywoon laat hulle asseblief weet.

Nanika Prinsloo Prinsloo & Associates ATTORNEYS AND CONVEYANCERS Farm Bergamot, Paarl 7620 P O Box 6199, Paarl 7620 also at:14 Laing Street, Barrydale 6750 Cell: 072-8558-106 email: nanika@vodamail.co.za Fax: 086-623-5986 www.empowerlaw.co.za

If you want to subscribe, advertise or be listed in our directory please contact us! magazine@debtcounsellingsa.co.za Would you like your after care clients to recieve Debtfree each month? All you need to do is forward us their email address to magazine@debtcounsellingsa.co.za