Hyphen PDA Take Home 4 Awards
Hyphen PDA is one of the NCR registered companies that are allowed to handle funds for consumers under debt review. Debt Counsellors never handle money for consumers in the process. Consumers are able under the National Credit Act to handle debt repayments themselves though most Debt Counsellors advise against it. While under debt review most consumers make use of the services of a PDA to help them pay the right amount, on the right day, to the right credit provider account. Making such payments over several years without any slip ups and keeping excellent records of such payments is normally beyond most consumers (especially at first). The NCR has only registered 3 companies to handle payments thus far since the requirements for registration are very strict.
New Categories of Awards
In 2017 there was a slight adjustment to the Awards for Payment Distribution Agencies (PDAs). While in the past the results of the industry-wide peer review of both credit providers and Debt COpunsellors hade been combined to produce a single set of results, this year the results were left separate and the Awards reflected that. There were two awards in the Debt Counsellor Review and two awards based on the Credit Provider Peer Review. Namely:
- Payment Distribution (as reviewed by Credit Providers)
- Customer Service (as reviewed by Credit Providers)
- Payment Distribution (as reviewed by Debt Counsellors)
- Customer Service (as reviewed by Debt Counsellors)
Debt Counsellor Results
Over the last several months, Debt Counsellors have been asked to review the service and payment accuracy of the PDAs they use (most Debt Counsellors use one). The results of each PDA’s clients were then compared with each other (based on percentage and not numbers since each PDA has a different amount of clients). It seems that Debt Counsellors using Hyphen PDA have a higher level of satisfaction in regard to customer service than the other two PDAs. Debt Counsellors make use of PDA software to help them draft documents, make proposals to credit providers and to create repayment plans. Though Debt Counsellors were able to comment on this in the peer review this year, there was no Award in the former software category. This was partially due to the difficulty in comparing software from different PDAs but also to allow for the expanded DC/CP split in Awards in this category this year.
Credit Provider Results
Credit providers too, interact with PDAs on a daily basis. They are more focused on payment accuracy and ease of tracking transactions than on software or the ability of the PDA to simplify reporting to the NCR or drafting documents via their computer software. They also have queries and need to interact with PDA staff and so the awards this year as reviewed by Credit Providers were for Payment Distribution and Customer Service.
‘Hyphen PDA took all 4 awards this year in all the categories’
Hyphen PDA took all 4 awards this year in all the categories. Mr Chris van der Straaten of Hyphen PDA (who was one of the speakers at the Awards Gala) accepted on behalf of Hyphen PDA.
Congratulation Hyphen PDA.
[more about the Debt Counsellor categories tomorrow]