How Do The Debt Review Awards Work?

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Debt Review Awards 2020

Only those who are registered with the National Credit Regulator are able to participate in the annual industry-wide Debt Review Awards peer review process.

Peer reviews are done throughout the year and after being audited the results are then announced on the evening of the Debt Review Awards Gala.

 

A Little History

In 2014 the debt review industry were invited to participate in the very first Annual Debt Review Awards. Panels of experts, drawn from across the industry, reviewed the performance of their industry peers and a small Awards gala was held in Cape Town where the results were announced and the first Golden Piggy Banks were handed out.

The Awards process is now in its 7th year and has been refined and improved over the years. While, in the past, the panels consisted of up to 50 people, now all those who are registered with the National Credit Regulator are able to participate in the review process. This means thousands of registrants can form part of the reviews.

 

Recognition For Hard Work

The peer reviews are done throughout the year (to help average out the results) and after being audited the results are then announced on the evening of the Debt Review Awards Gala. The Gala, though modest, has given those invited the opportunity to get dressed up, enjoy some good association, great entertainment and informative speeches about industry developments.

‘Each year now over 50 different Debt Counsellors are recognized as well as various credit provider’s debt review departments’

Those who receive the highest averaged results, across all the peer reviews through the year, receive recognition through this process at the Gala. Each year now over 50 different Debt Counsellors are recognized as well as various credit provider’s debt review departments in regard to various types of credit (eg. Home loans, Vehicle finance, short term credit etc). Their hard work and efforts in behalf of troubled consumers and in trying to improve the industry is recognized in a very public way. They can be proud that their peers are taking note of all their hard work and effort throughout the year.

Who Participates in the Peer Reviews?

Only those who are registered with the National Credit Regulator are eligible to be considered in the Debt Review Awards process. This also includes the 4 registered Payment Distribution Agencies (CollectNet, DC Partner, Hyphen PDA, IPDA).

Though registrants do not need to sign up to the process to be considered (this happens through the year anyway) they do have to sign up to be eligible to take home the top honours at the Awards ceremony. If you would like to sign up you can do so here: http://debtreviewawards.co.za/sign-up-to-participate/

Who Reviews Who?

It would be a very bad idea to let registrants who ‘compete’ on a business level with one another to review each other. They may be tempted to simply give poor reviews of their competition and they also do not interact with each other in a significant way in regard to each consumers matter. This is why the Peer Reviews about credit providers are done by Debt Counsellors and the reviews of Debt Counsellors are done by credit providers.

That way there is no incentive to hand out negative reviews out of spite or a sense of competition. By having large amounts of reviews for all the top candidates it also helps average out the results to eliminate any bias by any party or group of participants.

Checking the Numbers

The entire process takes place online and computers crunch the numbers for the most part. The system has built in processes and question duplication to prevent any attempts to manipulate the process. There is also a human auditing process which reviews who is signing in, what ratings they are giving, IP addresses, NCR registration numbers and more. After one final audit, the results are printed out and added to Awards announcements cards to be opened on the night of the Gala.

Announcing the Results in 2020

Pretty early on in 2020, it became obvious that things were going to have to change for the Debt Review Awards Gala. The idea of having a large group of hundreds of people all together while Covid-19 is around immediately seemed like a bad idea. So, plans were put in place to source an online platform to announce the results to the industry and still capture some of the excitement of the live announcements of the results. The entertainers were approached about doing their performances online and speakers were also briefed. The wheels were put into motion and with the help of financial sponsors, arrangements have been made.

‘Friday, September 11th 2020′

Through the use of online software and primarily a live stream (to platforms like Youtube) the announcements of the results will be made this year on Friday, September 11th 2020. This means that unlike in the past where only around 200 people could attend, now thousands from across the industry will be able to be part of the Awards event.

 

For more details on the Debt Review Awards Show please visit the www.debtreviewawards.co.za website and follow social media for the links closer to the time. Debtfree Magazine will also be posting regular updates about how to log on and be part of the action.

Recognizing Individuals With The Help of ONE

Over the last few years and with the help of the well respected insurance providers ONE, the Debt Review Awards has been able to recognize not only brands for their efforts but also many individuals who work in the industry. This includes attorneys, those who work at the Regulator, Associations and on Credit Providers and Debt Counsellor’s teams.

Over the years, winners of the ONE: Significant Contribution to Debt Review awards have included well known, hard working individuals like: Paul Slot (of DCASA), Denise Hartley (Nedbank at the time), Harry Greene (BASA), Neil Roets (Debt Rescue), Rob Easton Berry (Consumer Friend), Justin Van Der Linde (Consumer Friend), Luis Da Cruz (Wesbank), Stephan Van Der Hooven (Attorney),  Chris Van der Straaten (Hyphen PDA), Morris Maluleke (NCR), Kershnee Naidoo (SBSA).

We look forward to seeing who will be recognized this year.

 

Your Own Internal Awards?

A big part of the Debt Review Awards is to give individuals the recognition they deserve for all the hard work they are doing. At credit providers offices and Debt Counsellors practices across the country, there are superstars who work hard every day to assist troubled consumers through tough times. They all deserve to be acknowledged.

Do you have staff members that you would like to give recognition for their hard work and efforts? Why not coordinate your own internal recognition of these staff members for the day of the Awards. There will be time for you to do so during the event. You can do so online with your remote working team or in person while observing social distancing protocols.

See You At The Awards Show

The Debt Review Awards offers an opportunity for an already hard working industry to stop for a second and figure out whether they are working to a high enough standard. It helps identify those companies and individuals who are going above and beyond, leading the way for others to follow and imitate. It helps recognize that as an industry we can all strive to be the best and help consumers through debt review with passion and excellence.

‘It helps identify those companies and individuals who are going above and beyond, leading the way for others to follow and imitate’

The organizers want to send a special thank you to the volunteers, generous sponsors, supporters and those participating in the Peer Reviews for all their input and invaluable support.

See everyone at the online show during September.

 

 

 

 

This article first appeared in Debtfree Magazine issue 7 of 2020