Want to Be a DC? | Working With Credit Providers

When you first begin offering debt review, you may think that you are the consumers champion and will end up fighting with credit providers to insist on your clients’ rights.

While you may experience the occasional tussle, you will be pleasantly surprised at how the various credit providers debt review departments are set up to facilitate a speedy and smooth debt review process.

Some credit providers do have a problematic approach, and it does seem that things change every few months at credit providers, but if you can keep your finger on the pulse, you should be able to keep things cordial.

‘you will be pleasantly surprised at how the various credit providers debt review departments are set up to facilitate a speedy and smooth debt review process’

Remember a Debt Counsellor is helping the Magistrates to balance the needs of a stressed consumer with the needs of credit providers who needs their money back. It is something of a balancing act.

If possible, try to get to meet people on the bigger credit provider debt review teams early and regularly. If you cannot visit in person then try Zoom or Teams.

The credit providers want to work with you to ensure they are treated fairly.

Having a good working relationship will help when snags do come up, or when you desperately need to talk to someone about a matter. Having a face to put with a name is of great value and that goes both ways.

Due to the PoPI Act, it is necessary to deal with consumers data in a secure and sensitive manner. Some credit providers have systems that integrate directly with the PDA front end systems or Switch. Others may have a dedicated portal that you can use to access and share information.

These things change over time but more and more integration is taking place across the industry which is speeding up and simplifying the process.

The credit providers are not your enemy, and while they do often do things that may drive you a little mad, it is seldom targeted and is often simply system related.  Remember, if a computer cannot do a thing or automatically does something it can be hard to get it to change its programmed behaviour.

So, you may end up emailing and calling credit providers about debit orders that still went off unexpectedly or information that you are waiting on. Still, the credit providers want the process to work. When they handle lots of matters quickly and payments come in, they look good to their bosses and shareholders.

Half the battle is learning each credit providers’ idiosyncrasies, and that only happens with time and experience.