Hyphen PDA Registered with NCR

First Payment Distribution Agency Registered with the NCR

Hyphen webHyphen PDA is the first of the 3 NCR recognised PDAs who have been successfully registered with the National Credit Regulator (NCR). PDAs have long been around and espoused by the NCR however it is only recently that they have been captured in the National Credit Act itself (when amended).

PDAs handle the money side of debt review for consumers and assist Debt Counsellors with software to calculate and make proposals with to creditors. PDAs also track the rough repayment amounts as per the court orders and assist consumers in reconciling any payment issues they have with creditors throughout the process.

Recently the PDAs (members of the PDA association PDASA) have been in discussion with the NCR and DTI regarding recent fee structure changes which are binding on NCR registered PDAs. Hyphen PDA is now the first PDA to receive it’s official NCR Certification after completing the rigorous (and expensive) registration process. AS yet there has been no adjustment to the Fee structure as published. It remains to be seen if PDASA will follolw the example of MFSA in taking maters to court in an effort to ensure profitability and sustainability for it’s members.

Congratulations to Hyphen PDA (registered as NCRPDA1).

 

 

20 comments on “Hyphen PDA Registered with NCR

  1. Re: Consumer No: xxxxxxxxxx
    MA Oberholzer: xxxxxxxxxxxx
    Ek het Saterdag ‘n sms ontvang dat ons debiet order nie deur is nie, en het van Saterdag af probeer om met Debt Resque te kontak om die bank details te kry, sodat ek die nodige betaling kan doen, maar sodra ek die nommer van Debt Resque skakel, 0861123644, lui die foon en iemand aan die anderkant sit die foon neer sodat ek nie met iemand kan praat en vir die bank details vra nie. Ek het al 2 e-posse aan hulle gestuur, maar kry ook geen antwoord van Debt Resque nie.
    Kan u my asb. so gou moontlik kontak en laat weet wat staan my te doen in die geval?

  2. Please remove me from your data base. I’m being blocked from many opportunities cause I’m on credit review.

    • Hi Sizakele,
      If you see a listing on a credit report that is not accurate then you can simply lodge a query with the credit bureau. They will investigate and then adjust whatever is needed. Every credit bureau has the needed forms on their website.

      Alternatively, if you have been or are under debt review you should first talk to your debt counsellor and then only lodge a query at the credit bureaus.

  3. My african bank account and that of my husband is giving us problems- according to your statements both accounts are paid off but according to afrucan bank we are stil owing. Kindly follow up on this matter before i end up owing even more. Thank you

    • Please note that a PDA statement is not always 100% accurate (be sure to read their disclaimer on the statement) since credit providers may apply payments to your account on the day after payments are made (or later) and this can change the way interest is calculated. Also, the bank may be adding charges that the PDA are not aware of (and may need to be manually added or removed). Normally there can be up to 3 months payment differences. It is normal. To sort his issue out you should talk to your debt counsellor who will ask the PDA to follow up. (Hyphen may not check this post regularly)

  4. I have recently started paying my first payment under debt review. My worry/concern is my car if it won’t be repossessed by the bank if I fall in arrears due to the fact that the they will be getting less than a normal installment on my car.

    • Be sure to speak to your debt counsellor about that but..the process is a legal one. A court order will help protect your assets. Also your debt counsellor will get written consent (probably) from the vehicle people. They should prioritise payments to the vehicle.

  5. I am soo frustrated to have moved from my dept councillor to Hyphen, my creditors have been calling me non stop and I have been calling Hyphen/credit matters all the do is give me empty promises whereas they are the first on to debit on my salary, now am stressed that my car, and house will be repossessed! am having sleepless nights and I have no idea how am I going to get out this mess!

    • Sounds like you have a credit provider problem and not a debt counsellor problem. (It is not the debt counsellor calling you).

      Why not ask the debt counsellor to provide you with copies of all the correspondence with the credit providers and ask when your court documents will be ready.

      No need to panic. If someone from a credit provider calls simply tell them you “don’t want your voice recorded” and hang up. If they are serious, they will send court documents which your debt counsellor can take care of.

      PS.(remember Hyphen are just the people who handle your payments – they are not debt counsellors)

    • Hi Precious,
      It is normally best if the Debt Counsellor (your debt counsellor) gives that instruction to the PDA>
      Since leaving debt review needs to be done slowly and with written agreements in place between yourself and your creditors (for larger debts left over) it needs to be a slow and cautious process. Beware of rushing too fast.

      Your debt counsellor will walk you through the process.

    • Hi Precious,
      It is normally best if the Debt Counsellor (your debt counsellor) gives that instruction to the PDA>
      Since leaving debt review needs to be done slowly and with written agreements in place between yourself and your creditors (for larger debts left over) it needs to be a slow and cautious process. Beware of rushing too fast.

      Your debt counsellor will walk you through the process.

    • Hi Ntombi,
      It might be better if you talk to your debt counsellor since the PDAs (like Hyphen PDA) only handle the money side of things and not the listings with the NCR.
      If you never signed up for help then you should talk directly to the NCR about your situation.

  6. I have been on debt review for more than 6 years now with *******debt counselling firm. I urgently require a statement to see how much I still owe. Can you hyphen PDA send me a statement?

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