How To Deal With Jet & Edgars Accounts
Who is Collecting Jet & Edgars Debts Now?
When Edcon went into business rescue things were bound to change, including what would happen with the debtors’ book and debt review matters.
Recently, the business rescue practitioner made arrangements with both RCS and Nimble Group to sell them part of the debtors’ book for both Jet and Edgars.
This has however made things slightly different for Debt Counsellors who have clients who have debts with those brands.
The NCR has released a short circular (see below) with a helpful addendum letter that can be used with regard to clearance certificates.
What is a Clearance Certificate?
A form 19 or clearance certificate is the form that shows that a consumer, who has been in debt review, is now finished paying off their debts. This process is vital if the consumer later decides to make use of credit again.
Read More: What happens after Debt Review?
The NCR Circular
The circular from the NCR explains that since the book has been sold Debt Counsellors will have to check in with both RCS and Nimble (preferably at the same time) to see if the account they are dealing with has gone to either of them.
‘Debt Counsellors will have to check in with both RCS and Nimble to see if the account they are dealing with has gone to either of them’
Debt Counsellors can do this by emailing:
When the account is eventually paid up then Debt Counsellors can get paid up letters from either RCS or Nimble (depending on who is handling the debt).
Accounts Not Bought By Nimble or RCS
Some accounts however have not been bought by RCS or Nimble and the business rescue practitioner views these accounts as uncollectible or they may have already legally ‘prescribed’. They will not be attempting to ever collect these debts and they are viewed as paid up and the account closed. In this case, the Debt Counsellor will be able to use the addendum (download below) to attach to their correspondence with the credit bureaus when they have to send proof to the credit bureau that the debt has been settled.
This means that no further payments are needed and the account will be removed by the bureaus and the consumer can go ahead with their clearance certificate without any hiccups.
Debt Counsellors should be sure to retain a copy of the Annexure for their records as they will no doubt need it to assist their clients.
Download the full NCR Circular HERE
Download the Annexure letter to send to credit bureaus HERE