Each quarter of the year (every 3 months) Debt Counsellors are required to submit stats relating to the number of enquiries they have received and the clients they have taken on. This is part of their conditions of registration. The information is used by the National Credit Regulator (NCR) to keep track of what is happening in the debt review industry (and in their reporting).
These requirements for Debt Counsellors are set out in the National Credit Act Regulations, in Part B:
Part B − Debt counsellor compliance reports
69. Annual compliance report and statistical return by debt counsellor
(1) A compliance report submitted by a registered debt counsellor must be submitted in Form 41 to the National Credit Regulator by the 15th of February each year for the period 1 January to 31 December.
(2) All registered debt counsellors must complete and submit the statistical return in Form 42 to the National Credit Regulator in respect of the quarters and by the due dates set out in the table below: Quarters Reporting period Due Date for Statutory Reporting Quarter 1 1 January – 31 March 15 May Quarter 2 1 April – 30 June 15 August Quarter 3 1 July – 30 September 15 November Quarter 4 1 October – 31 December 15 February
The next reports are due before May 15th but can in fact be submitted already now that March has finished.
Sending The Report
The completed Form 42 (the report) must be sent to firstname.lastname@example.org For further information or clarification, Debt Counsellors can contact Mosa Mokoena at 011 554 2656 or via email: MCMokoena@ncr.org.za
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