Debt Counsellors: Pay Your Annual Fees
The NCR Want Their Fees – Don’t Forget
Debt Counsellors are reminded their annual registration renewal fees are due this month.
Each year the National Credit Regulator (NCR) sends out invoices and updated certificates to Debt Counsellors who are registered with them to practice. The annual renewal happens in July.
In the past, there have been some hiccups in getting everyone their invoices and their certificates promptly. Thus the NCR ask that Debt Counsellors make the renewal payment regardless if they have been invoiced for it or not. It is a good idea for Debt Counsellors to send the proof of payment to firstname.lastname@example.org to avoid any confusion. They can simply use their NCRDC# as the payment reference.
Debt Counsellors only pay R750 for their annual renewal if they operate from a single branch/office. If they have multiple offices across the country then additional fees apply.
‘the NCR ask that Debt Counsellors make the renewal payment regardless if they have been invoiced…or not’
If Debt Counsellors fail to pay because they have not received an invoice they can find themselves facing additional late payment fees (if they pay within 21 days during August) or unable to practice should they not pay by that date – as their registration ‘lapses‘.
If A Debt Counsellor’s Registration Lapses
If this happens then their qualification does not fall away but they then have to go through the entire registration process again before they are able to accept fees and offer advice and debt review services. It might even be the case that the NCR then comes in and forces the Debt Counsellor’s clients to move to another Debt Counsellor of the NCR’s choice in the interim.
‘This can be very traumatising for consumers’
This can be very traumatising for consumers and make them doubt the process and drop out of debt review. It also messes with the cash flow of the Debt Counsellor. Getting the cases then transferred back to the original Debt Counsellor can be very labourious.
So, the moral of the story don’t pay late even if you have not been invoiced.