ONE Awards For Significant Contribution To the Debt Review Process & Industry
The Annual Debt Review Awards in partnership with ONE, a specialist insurance provider to the debt review industry, announced the two winners of special Awards recognising individual effort in the industry. These two highly sought awards are designed to focus on individuals and their efforts over the year or years to improve the industry.
While much of the Debt Review Awards peer review process considered companies as a whole (eg. an entire credit provider debt review centre) the ONE Awards look at how a single hard-working individual can make a huge difference within their own organisation and thereby the industry. Past winners have been from across the entire spectrum of companies and entities involved in the industry such as Attorneys involved in important court cases and staff members at the Regulator (NCR). This year both individuals came from the credit provider side of the industry.
‘the ONE Awards look at how a single hard-working individual can make a huge difference within their own organisation and thereby the industry”
Before the announcement of who this year’s winners was made, there was a short message from Mr Christopher John Keuler of ONE. Mr Keuler pointed out the chronic “lack of financial literacy and [abundance of] questionable credit practices” … evident [in South Africa]. He said that it was debt review that “was the conduit that provided many of us the opportunity to bring about change, which our country so desperately needs”. He explained how ONE has always focused on consumers, passing on savings to them wherever possible to assist them. For example, when VAT increased ONE absorbed the loss in revenue rather than pass an increase in costs on to debt review clients.
Significant Contribution Winners
Mr Luis De Cruz of Wesbank was recognised by ONE at the Debt Review Awards for his Significant Contribution to the Debt Review Process over the last few years. Recent changes to the way that DCRS calculates balloon payments and how many months consumers are offered to repay vehicles with balloon payments owed are slated to make a huge change in the industry. Use of DCRS (a software calculator, provided by credit providers, that offers certain concessions to consumers who repay a certain way) has dropped off over time and one of the big reasons has been how many consumers have taken on cars with balloon payments. A balloon payment is when the consumer doesn’t pay a big deposit but rather promises to make a massive final payment at the end of paying off a car. DCRS will now allow such cars to be repaid off over as many as 100 months rather than try squeeze payments into the original term period.
Justin van der Linde and Auditor Barry Fuchs of BKF with the coveted red ONE Significant Contribution to the Debt Review Industry Award.
Mr Justin van der Linde is a well known person in the industry who works at award winning Consumer Friend, out of their Cape Town offices in Stellenbosch. Justin is known for being a problem solver and quick to help out. He will often go above and beyond in helping resolve a situation. He is a positive influence in the industry and was recognised as such in this year’s Peer Review process.
To find out more about ONE and their insurance offerings which are specifically tailored to consumers in debt review you can head over to their website here: ONE website