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Industry News

The Debt Counsellors Association of South Africa (DCASA) recently met with the National Credit Regulator (NCR) and among other things asked that CIF meetings get going again.

Just a short time later, during November, it was arranged for one of the Credit Industry Forum sub-committees to meet and continue discussions.

The meeting also covered several other hot topics. One thing that was discussed was the NCR’s complaints department and issues involving what DCASA think may relate to insufficient training of complaints staff. DCASA pointed out that many times, their members get NCR instructions or findings that run contrary to the NCR’s own 2009 Task Team report and subsequent guideline. The NCR undertook to increase training for staff. There was also a discussion about trying to increase efficiencies in issuing annual NCR certificates to Debt Counsellors as delays hurt consumers greatly. The NCR may look to open up a unique email address to help deal with these issues.

The NCR and DCASA both shared their frustration at how some consumers are being taken for a ride by those claiming to offer consumers debt review related services, sometimes referred to as “rogue” debt counsellors within the industry. Some consumers simply call them “scammers”. Both the NCR and DCASA would like to see such operations shut down.

After the very productive meeting, DCASA stated that the NCR is strongly in favour of all Debt Counsellors belonging to associations which hold their members accountable like DCASA do.