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FNB ROADSHOW

FNB Debt Review Centre have been traveling the country in an effort to get to meet Debt Counsellors face to face. The meetings have been dubbed In Conversation with Lynne. This is all part of new Department Head Lynne Loizakos’ effort to lift FNBs level of service in the debt review department to the number one slot in SA.

Lynne joined FNB Debt Review Centre in April 2013 since then there have been some big changes primarily in regard to the amount of staff in the department which has nearly doubled since she joined. FNB DRC used to be one of the smaller debt review departments among BASA members. After seeing the need Lynne has brought on an additional 35 staff members raising the number from 67 up to 102. More than that there has been a big focus on training within the department to give staff a broader understanding of the entire process rather than just one particular task out of context.

FNB Logo at FNB Roadshow

 

 

 

 

 

 

 

 

 

 

FNB Roadshow travels SA

The FNB Roadshows have been held at various locations across the country in an effort to reach large groups of Debt Counsellors. Meetings have been held in P.E, Gauteng, Cape Town and Durban.

 

FNB Roadshow Review

You may not have had a chance to make it to the FNB Roadshow and may be wondering what you missed out on. Debtfree was able to attend and take some photos and send out some tweets.

 

The meeting in at the Willowbridge FNB was well attended by over 30 Debt Counsellors. Finding the location was perhaps easier than actually getting inside. Security is tight. Parking was provided as long as you checked in your Drivers License and a kidney (joke). After negotiating not one but 2 reception areas and several elevator rides it was nice to see the familiar face of Mpho Lekala helping guests check in.

Mpho Lekala greets guests at FNB Roadshow

Mpho: Welcoming guests

 
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There were a few minutes to meet the FNB crew and the other Debt Counsellors before the show began. And a show it was. Christo Hattingh is well known for his ease with an audience and friendly manner. He introduced the roadshow with a video performance of Simon & Garfunkel’s Bridge over troubled water. The message was that the meeting was one of many of FNB’s efforts to bridge the gap between Credit Providers (like themselves) and Debt Counsellors. Christo discussed the ever increasing requests that FNB are getting for Debt Consolidation and payment holidays over the festive season as consumers are increasingly willing to risk their bonds in favour of servicing vehicle repayments and spending funds elsewhere. Then after a few more musical and biblical references he handed over to Lynne Loizakos
Lynne Speaks

 

 

 

 

 
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As mentioned, Lynne joined FNB DRC in April 2013.She moved over from Homeloans and says she quickly saw another side to debt review as well as other FNB departments. She said she realised right from the start that Debt review while a simple concept is not a simple process. Lynne received a round of applause when she mentioned that Debt Counselling is a great and affordable way of doing collections for FNB since Debt Counsellors essentially help do collections for free. This is as opposed to some companies or attorneys who charge 10% collection fees and other charges. Lynne quickly set about some changes in the Debt Review space. For example FNB Quick Fix had been locked into home loans but Lynne saw an opportunity to bring them and their functions into the Debt Review Centre. This way they are now able to look at many more options for consumers. The number of staff in the FNB DRC shot up to 102. Lynne was open in saying that an increase is not enough and in fact can present something of a challenge. That is why FNB have teamed up with Compuscan who have developed special training for FNB which they are calling the Debt Review Academy. Other (non debt review) departments have heard about it and now also want to attend. The Academy is helping staff get a rounded view of the National Credit Act, and all aspects of the process.This means more people in FNB are becoming more aware of the entire process.

Who is the fairest DRC of them all?

While not a competition as such, FNB are determined to increase their reputation and efficiency in dealing with Debt Review matters. Lynne admitted that:”Sometimes they (other BASA members) are doing better than we are.” She appealed to Debt Counsellors to tell FNB how they can improve and to mention to them how other Debt Review DXepartments are handling thins more efficiently so that FNB can learn from them. Already the FNB DRC are seeing improved results. This year has seen opposed matters (where they send attorneys to court to fight about proposals from Debt Counsellors) down to lowest levels ever – less than 5% of matters now end up disputed at court. In another interesting and linked statistic FNB now have an acceptance rate (of proposals they receive)of 80% the first time. This is up from 60% previously.

Past Matters

There is a small FNB project team who are going back over all granted court orders and checking implementation (starting with home loans) trying to correct balance differences in cases where orders were only granted or captured long after review began. Lynne hopes for some give and take from Debt Counsellors here as occasionally FNB are asking consumers and Debt Counsellors to adjust some figures to increase balances or rates. She pointed out that FNB are however doing the same and lowering balances etc to try match the older court orders that were not captured or where the court order was only granted much later after they had already agreed to a lower interest rate and payment amount. They are also trying to eliminate strange and unnecessary fees that the computers have added to accounts. This is a labour intensive task and FNB are now trying to develop tools on their systems to help. Lynne ward that this will take time and Debt Counsellors should feel free to talk to them rather than take legal action or complain.
30 Plus DCs at FNB Roadshow
 
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In an effort to improve their service to their clients (in the hope of retaining them once they finish debt review) FNB DRC are also looking at providing accurate client statements too. Lynne said that Debt Counsellors (and attorneys) can look forward to more roadshows in 2014 as well as increased information in circulars and in Debtfree Magazine.

Christo finished up (with some more music) by pointing out that the process is not a strait path but rather a long and winding road. He said that: “We will have our differences but where we agree let’s get things done”. He also said a big THANK YOU to all the Debt Counsellors who attended.

FNB Roadshow gifts
Some Goodies from FNB
 
 
 
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Afterward there was a nice chance to chat with the team.

FNB Roadshow team

 


 
 
 
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If you would like to talk to FNB about urgent matters please feel free to contact them on:

frbdebtreviewcenter@firstrand.co.za
fnbquickfix@fnb.co.za