BDCF meet with Capitec Debt Review

The BDCF & Capitec Meet


This week Capitec Debt Review Department met with the Black Debt Counsellors Forum (BDCF) to discuss issues that they commonly face. The meeting was described as productive.



Hot Topics

Points discussed ranged from turn around times to IT glitches. The IT glitch is something on the Capitec side and they are trying to sort it out as it affects documents that need to be submitted to the NCT and Court by Debt Counsellors when they hand in the consumers restructuring proposal to the court. The topic of clearance certificates was also discussed in some details.

Cancelling Debit Orders

Capitec assured the BDCF that they do and will cancel debit orders within 3 days as long as a suitable Power of Attorney document is attached to the request. Most Debt Counsellors provide creditors with this document when acting on behalf of the consumer. This is very similar to what FNB recently asked of Debt Counsellors. FNB asked that a PoA be sent along with the consumer’s 17.1 forms (or 17.2).

Proposals – What Capitec want

In regard to proposals received by Capitec from Debt Counsellors (not using the DCRS) they wish to see their repayment proposal be in line with what portion of the consumer’s debt repayments they were meant to be getting before the debt review. If before they were receiving 20% of the consumers debt repayments (out of all his debt) each month then once the consumer enters debt review they would once again like to receive 20% of the overall debt repayment (whatever the reduced repayment amount is). They feel this is simply fair.

Capitec & the BDCF

Capetic were very happy to offer assistance in the BDCF’s member training program and are apparently eager to be involved. Annora Mostert of BDCF says that the BDCF are embarking on training with members nationwide and will focus on business development and Debt Counsellor training in the months ahead.

Leave a Reply

Your email address will not be published. Required fields are marked *