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NCR Shut Down Scammer

You will often see scam offers online that promise to help you ‘get out of debt review’.

Normally the scam goes like this:

  • You click a social media post and enter your details.
  • Someone calls and offers to get you out of debt review (and maybe get you access to credit again) for an upfront fee which could range from R5000 to R20 000.
  • They promise overnight results and those who previously were under debt review, and are still flagged as such at credit bureaus, are enticed to pay them to get the flag removed.
  • You pay them money.
  • Once the money is paid the scammer either changes their number and disappears or comes back to say: “Sorry, we tried. It didn’t work but we can help you with debt review ourselves”.
  • Then they may even try hit the victim up for another “fee”.

 

Note: Charging anyone a fee upfront to make changes to credit bureau records is not allowed. Such services can only be charged after the work is done. Anyone asking money upfront is probably a scammer.

Scammer Busted!

Recently, the National Credit Regulator (NCR) managed to shut down one such operation where the scammer was doing all sorts of illegal fraudulent stuff to try to deliver on their get out of debt review promises.

Some of the things they were doing was faking court orders, faking letters from banks saying the debt is paid and uploading false information to the NCR’s database and on to the credit bureaus.

All these crimes were committed to try and trick the system into clearing people’s records from the credit bureaus.

Fortunately, the NCR found the scammer out and took the matter to the National Consumer Tribunal and asked for a fine (R25 000), a total audit of all the consumers effected so they can get their money back and stopping the person from operating and being able to scam consumers in the future.

It is unclear, at this point, if any criminal charges have yet been brought by any of the banks or consumers effected and if the scammer will face jail time. We hope this matter is pursued to the full extent of the law.

Read more about this story in the upcoming issue of Debtfree Magazine

Beware False Promises

If you receive a call or see an offer online to get you out of debt review (without paying off your debt) then please beware of scammers.

Rather talk to your NCR registered Debt Counsellor on record and ask them how you can better manage your finances each month or how to pay off your debts even faster.

Don’t fall for scammers!