Want To Be a DC? | All The Software
So You Want To Be A Debt Counsellor cont.
Some software that is used by Debt Counsellors will be the same as is used by many other businesses:
Operating systems, email programs, social media marketing, staff payroll, invoice generation software, internet browsers etc. And those may be just some of the programs used.
Then there are specialized software options and web portals, aimed specifically at helping Debt Counsellors to do their job, or to help debt review consumers.
These may include specialist software to manage clients, software to load payment plans on PDA platforms, software to draw information and send information to credit providers or attorneys and more.
Here are a few common programs or software packages that Debt Counsellors use:
The NCR have a database of consumers who have applied for debt review. As a Debt Counsellor you will be required to keep the database up to date.
For some things it will be an easy click of a button, but for others you will have to ask the NCR to sign off on changes (because they find they can’t trust some Debt Counsellors to click the right things without oversight).
You will receive a login and are able to access training material, it is not too complex.
The NCR Database plugs into the various Credit Bureaus who list consumers under debt review (or not). So, while Debt Counsellors are required by the National Credit Act to inform the credit bureaus when a consumer applies for debt review, it does not say exactly how that needs be done. The NCR have offered their portal as a way to do this.
It also helps the NCR track who is looking after a particular consumer if they get a call from someone asking about their debt review (e.g. if they forgot they were under debt review, and now are looking for their Debt Counsellor because they lost all emails, messages and records).
At present, the NCR Debt Help system is unfortunately not great at reporting to the NCR about the information it contains, so hundreds of Debt Counsellors have to send thousands of excel reports to the NCR, every 3 months. These reports are mandatory and form part of your conditions of registration.
This is software designed in conjunction with BASA (and other credit providers) and based on agreements first formulated in the 2009 NCR Task Team Report.
The “rules engine” is designed to automatically calculate concessions for debt repayments.
This might be massive reductions in interest rates or eliminating monthly account and annual fees. The concessions are often impressive with interest rates going as low as 0%.
Various debt counselling software solutions plug into the DCRS “rules engine” and after sending information about how much money the consumer has set aside for expenses, is designed to generate an optimized repayment plan that all credit providers will automatically accept (after they look it over and check everything and make sure they like it).
There are many different ways to come up with repayment plans but this is quite a popular way of doing so (due to the concessions).
I-DOCS revolutionized the debt review sector through its all-inclusive platform. Its CRM, ticketing, and telephony features streamline client management. Debt Counsellors can gain a competitive edge with the quoting, digital document signing, and HANIS/Credit Bureaus integrations.
The platform empowers users, and facilitating growth and innovation. I-DOCS has been described as a game-changer that opens doors to a wide range of possibilities in the debt review sector.
Connect with I-DOCS:
The website is designed for Debt Counsellors who need to prepare NCT applications quickly and easily. The software is designed to help save time and effort through their streamlined web application.
The National Consumer Tribunal has the ability to hear various matters, including certain debt review matters. They have an online web based system where Debt Counsellors can upload the necessary documents in order to submit a consent order for consideration.
The portal features a FAQ, Registration process and helps link to the correct payment references (to submit matters). You can draw reports and manages cases via the portal.
For more info head over to:
Powered by Slipstream Solutions, this software platform provides credit providers with a sophisticated debt review operations management system. DReX provides Debt Counsellors, credit providers and consumers with an efficient and secure platform to manage the flow of data between the various role players in the Industry. DReX is an award-winning debt review service provider to numerous Credit Providers and aims to remain at the forefront of technological advancement within the industry.
Switch is a digital hub providing an integrated platform through which industry role players debt review can communicate efficiently and securely – thus ensuring massive efficiencies, data integrity and compliance with POPIA regulations.
Switch plays a central role in data exchange across the industry with an increasing number of credit providers integrating into the system. Major industry players, the likes of FNB and Consumer Friend are experiencing the benefits of the Switch, and negotiations with other major Banks are well under way. Switch is undoubtedly an innovative technological game-changer in the debt review industry.
What about PDA Front End Systems?
Continued in next article…