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Want to be a Debt Counsellor cont...

When you deal with a new applicant, you will want to get as realistic and complete view of their financial situation as possible.

“When a Debt Counsellor is to assess if an individual is indeed in distress to such an extend that they need to apply and if appropriate, fall under the debt review process protection –  in order to be able to manage the difficult position the consumer find themselves in, – the only reasonable way is to examine the total exposure and honouring of debt position of the consumer as depicted in their credit report.

With the applicant consumer’s consent, affording access to the Debt Counsellor to this credit bureau record and score is a good way of establishing the levels of distress experienced by the consumer at a particular point in time, who the consumer owns money to, so that the Debt Counsellor can discuss and arrange new repayment agreements, and in some instances to ascertain if the credit was granted in the correct way by the registered credit provider according to the rules within the NCA. “- Anna-Rita Celliers, XDS

Obtaining credit reports from the various credit bureaus, are helpful in completing this overview. You will draw such reports and can then identify debts and potential balances.

These reports may help you to provide consumers who are interested in debt review but not ready to commit, with an idea of what a potential repayment plan is going to look like.

“Make sure to do a thorough assessment before making any plans with or promises to your client. This will ensure that you do not have to deal with any misunderstandings or unhappy clients later. And always remember that you are in the fortunate position of being able to assist someone in bettering their life – do not take this opportunity for granted.”VCCB

Obviously, you will then later draw up to the minute balances directly from credit providers, but these reports help identify accounts that your new client may have even forgotten about or failed to mention.