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PDA Payment Timelines For June Distributions

During the National Lockdown (level 4 & 5) the National Credit Regulator (NCR) made provision for the various Payment Distribution Agents (PDAs), who handle the money side of debt review for clients, to hang on to payments for longer than normal. As of July, the distribution time period has gone back to normal.

What this means is that payments made by consumers during June 2020 will be held for 20 days before being distributed whereas those made after the first of July 2020 will be distributed after the usual 5 day holding period.

Consumers, credit providers and Debt Counsellors should keep this in mind as there could be a few unusual situations that arise due to the change over between the time periods.

Don’t Be Bamboozeled

Consumers in the debt review period should also be wary of any collections agent who calls and says funds have not been paid through debt review as any credit provider appointed collections agent should also be aware of this fact (if the credit provider has sufficiently trained their collections agents). Any delay probably just relates to the extended holding period (if you made payment for June before the end of the month).