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It seems that the National Credit Regulators amended codes of conduct for debt counselling have not been well received. Both creditors ( represented by the NDMA) and Debt Counsellors from various associations have expressed there dismay at the washed down version of the codes.

Some feel that the codes were origionally put in place to pave the way for the credit provider favouring VDMS  ( debt review without the National Credit Act) project. They say that since the NCR put an end to that and then took steps to remove the anti NCA aspects of the codes there was little left over in the codes. This might explain the washed down and empty feel of the new rendition of the codes.

Others are once again upset that they were not consulted in the process. In particular the NDMA ( a bank backed credit provider body) feel left out of the loop. It might seem to some that the NCR have cut them out of the Codes as lash back for trying to supplant the NCRs role in the industry with themselves and the Credit Ombud.

Whatever the case, it is clear that the NCR now face an uphill battle to try get all parties to sign the codes.