FNB Conference (Gauteng)
It can happen that when dealing with a consumer’s debt situation Debt Counsellors and Credit Providers take opposite views on the same account. This can occasionally lead to some conflict. This is why relationship building is so vital in maintaining a professional industry. Workshops held by credit providers make it possible for them to meet and engage with Debt Counsellors and reduce difference in understanding of their processes. This can in turn reduce possible causes for conflict.
Recently, FNB held such a conference with Debt Counsellors in Gauteng. Topics ranged from Annual Reviews (where DCs check on a consumers situation) to FNB’s outreach programs. When it comes to annual reviews credit providers often hope that consumers will have received increases that outstrip the increased cost of living. This is sadly seldom the case but FNB feel it is an important step for both themselves and Debt Counsellors to try in order to try help consumers shorten their time under debt review, if possible.
FNB are busy sending notices long in advance of any possible 86(10) Termination letters. This pre-termination project helps reduce unnecessary extra work for all parties by identifying where wires may be getting crossed. It was stressed that DCs should please send as much documentation to support any replies as possible to speed things along.
FNB are also trying to clean up their files on certain clients and may contact DCs in regard to missing documentation. They ask that DCs help them and not get upset even if they have sent these documents before. They hope that they will get good co-operation with this project.
Another very exciting project is FNB sending out balances to DCs for FNB products. This is still in the pilot phase but could help reduce end balance differences and speed up issuing of clearance certificates greatly.
Attending Debt Counsellors benefited, as always, from the well run workshop and look forward to engaging with FNB with now increased understanding of recent trends at FNB. FNB plan to hold similar workshops across the country over time in an ongoing commitment to engaging with Debt Counsellors.