Comings & Goings At The NCR
The National Credit Regulator has been in the press a lot recently due to all the attention thrust upon it by the Portfolio Committee on Trade & Industry who want to see the NCR handle a process called Debt Intervention. It is a proposed type of Debt Review for lower income consumers without assets who do not qualify for normal debt review in some way (if they do qualify then they probably will have to be referred to a Debt Counsellor). Recently, there has been “talk” that, though the process has not been defined or approved by government, there may already have been an internal appointment within the NCR to head up the project.
After many years working at the National Credit Regulator, Mr. Peter Michaels decided to leave this month. Peter worked closely on many matters including the recent adjustments to the NCR’s guideline on what fees they think should be charged by Debt Counsellors for debt review services. The move came suddenly and was unexpected. Those who have been corresponding with MR Michaels in regard to many matters should consider reaching out to the NCR to see if their matters are now being attended to by other staff members.
Last year the NCR put a post out for application, for a consultant position in regard to Debt Review. This tied in with the decision of Ms Kedilatile Legodi, the then Debt Counselling Manager to leave to pursue an opportunity at ABSA. The NCR intended to fill the post by August last year or alternatively to leave the post vacant. No appointments followed until the recent somewhat surprising reappointment of Ms Legodi to her former post this month.
At present, the NCR is advertising for applications for the post of Assistant to the CFO and Finance Manager.
Portfolio Committee Hearings at Parliament About NCA Amendments The Portfolio Committee on Trade & Industry is trying to get amendments to the National Credit Act (NCA) passed in an effort to bring into existence something called Debt Intervention. This plan … read more
Standard Bank’s Presentation on the Draft NCA Amendment Bill Standard Bank joined a number of other interested parties in making a public presentation about the Portfolio Committee on Trade & Industry’s proposed changes to the National Credit Act, this month. … read more
NDCA’s Presentation on the Draft NCA Amendment Bill The Portfolio Committee on Trade & Industry has been hearing public comments and presentations on their draft amendments to the National Credit Act. An association of the large Debt Counselling firms in South … read more
MFSA’s Presentation on the Draft NCA Amendment Bill This week the Micro Finance Association of South Africa got to make a presentation in regards to concerns they have over the Portfolio Committee on Trade & Industry’s proposed amendments to the National Credit … read more
BASA’s Presentation on the Draft NCA Amendment Bill The Portfolio Committee on Trade & Industry has proposed changes to the National Credit Act. They have been taking feedback from the public and credit industry about the draft Bill. The public hearings … read more
DCASA’s Presentation on the Draft NCA Amendment Bill The Portfolio Committee on Trade & Industry has made public the presentations which were given them, relating to the oral comments at Parliament over the last 2 days. They have been holding public … read more
Debt Intervention Misinformation Already Starting It seems that the NCR is in for a very hard time in the weeks and months ahead as consumers and the media grab hold of the Debt Intervention concept mentioned in the Portfolio Committee … read more
NCA Amendment Bill: Comments Due Soon In response to political pressure and a desire to assist consumers who are stressed by the current collections processes of the banks, the Portfolio Committee on Trade & Industry is proposing some additions to … read more