Debt Counsellors To Pay NCR Their Renewal Fees
Debt Counsellors Annual Renewal Fees Due By Month End
Each year Debt Counsellors (and other types of registrants) give the National Credit Regulator (NCR) money towards their running costs in the form of renewal fees.
This happens in July each year. Since it is a requirement to practice (according to Debt Counsellors’ terms and conditions) it is vital that all Debt Counsellors pay these fees by the end of the month.
‘it is vital that all Debt Counsellors pay these fees by the end of the month’
The NCR then sends the Debt Counsellor a certificate (they already have certificates but this one will have a new date). This certificate is used at court to prove to Judges and Magistrates that the Debt Counsellor is in fact a NCR registered individual.
Ask To See It
Consumers can also ask to see a copy of the Debt Counsellors current certificate at any point.
Normally, it is also displayed near the Debt Counsellors desk but due to the fact that so much work is done online and over the phone these days (for convenience and because of the pandemic) a consumer may not immediately be able to look at it. So, do not be shy. Simply ask to see a copy if you are dealing with someone over the phone or via email.
‘Simply ask to see a copy if you are dealing with someone over the phone or via email’
Some Debt Counsellors like to display their certificate on their website.
The annual renewal fee for Debt Counsellors is only R500 plus what is called a ‘branch fee’.
It is important for new Debt Counsellors to know that the NCR feels that your home base of operations or head office is also a “branch” (ie. the home branch) and not only other offices where you may additionally practice. This branch fee is R250 on top of the annual renewal.
If a Debt Counsellor or credit provider fails to make their payment on time (and within a small grace period) it means the NCR view the registration as lapsed. This then involves having to apply again to become registered.
Traditionally, the NCR has even gone so far as to move clients of lapsed registrants to other practitioners (only among Debt Counsellors as far as we are aware at this time it seems they would not do this on the credit provider side). The National Credit Act is quiet on the topic.
‘The NCR database has a specific section in regard to Debt Counsellors whose registration has lapsed’
The NCR database has a specific section in regard to Debt Counsellors whose registration has lapsed. If you are struggling to find a former Debt Counsellor on the NCR’s Database be sure to check this section as well as they may now no longer be practicing.