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CIF Comments Deadline to be Extended

The NCR inform us that they are going to extend the deadline for comment on CIF matters which were due on Friday this week by 7 days.

The NCR (and CIF) recently called for comments in regard to 4 topics namely:

1. NCRDebthelp system (DHS):
The NCR has taken a decision to make DHS a regulatory tool. A sub-committee has been established and mandated to oversee the enhancement of the DHS system. The industry is invited to partake in the enhancement project by sending written submissions/proposals on or before 22 August 2014. – Now extended by 1 week

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2. Annual reviews by Debt Counsellors:
A sub-committee has been established to develop uniform guidelines on the facilitation of the annual review by all parties in the debt review process. Written submissions/proposals must be made on or before 22 August 2014. Now extended by 1 week

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3. Listing of information at the Credit Bureaus:
A sub-committee has been established to address challenges faced by credit bureaus over information submitted for consumers who are subject to transfers whilst under debt counselling and the outsourcing of debtor’s book by credit providers to debt collecting agencies. Written submissions/proposals must be made on or before 22 August 2014. Now extended by 1 week

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4. Magistrate court process:
A sub-committee has been established to develop uniform guidelines on the process and requirements regarding the referral of debt review matters to court. Written submissions/proposals must be made on or before 22 August 2014. Now extended by 1 week