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Industry News

Recently, Debt Counsellors have been moaning about various aspects of Capitec Bank’s marketing relating to debt review.

At Debt Counsellors meetings there is a buzz in the air when the topic is raised and many have been complaining.

Representatives from the Debt Counsellors Association of South Africa have recently had the chance to meet with Capitec Bank Senior staff and engage on the topic. 

DCASA were able to share information from internal research that was conducted among members and were able to get to hear with it is that Capitec Bank are concerned about.

A lot seemingly relates to the behaviour of some clients when they suddenly switch Debt Counsellors who entice them with lower repayment offers (not a good idea. Rather engage with your current Debt Counsellor if you are struggling). This small group of new Debt Counsellors are often called “rogue” Debt Counsellors by the association. Such behaviour is being reported to the NCR who are also aware of such behaviour.

The meeting was described as highly productive and that armed with better understanding on both sides there should be a way forward. Further discussions will happen about issues such as terminations etc but for the moment it seems that things have moved one step closer to being amicably resolved.