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NCR Spread a Positive Message About Debt Counselling

The National Credit Regulator (NCR) regulate the credit industry and register the various parties, such as credit providers and Debt Counsellors.

One of the requirements of the National Credit Act (NCA) for the NCR is that they educate consumers about their rights under the NCA including the right to apply for debt review.

This month the NCR are distributing a press release all about debt counselling and how it can help consumers. They are speaking to the various press outlets in the hopes that they will run the story about how debt counselling can help consumers deal with debt.

‘…it is ‘debt counselling’ and not ‘debt cancelling’

In their press release, the NCR has been quick to point out that it is ‘debt counselling’ and not ‘debt cancelling’. They also point to the importance of dealing with an NCR registered party and not some fly by night operation without certification (like so called “debt mediators” or people claiming they are Alternative Dispute Resolution Agents but who are not and are actually just doing unregistered debt review).

The NCR advise consumers to always make their monthly payments, stay on top of their debt situation during the process and understand exactly how debt review works.

Debt Counsellors often complain that they would like to see the NCR promoting the debt counselling process more often and will no doubt be happy that the regulator is busy with this media drive (which may encourage more consumers to look into the process).