Always Ask To See The Certificate
Debt Counsellors and Credit Providers are all registered with the National Credit Regulator (NCR). This process involves the NCR getting all sorts of important information about them and them paying a fee to register.
Why Have Certificates?
The NCR issues each of them with a certificate to prove that they are registered so that consumers can have confidence that they are dealing with legitimate practices and providers.
‘so that consumers can have confidence that they are dealing with legitimate practices and providers’
If you are getting credit or asking for advice about debt then you can ask to see the credit provider or Debt Counsellor’s certificate at any time.
The certificate will have an NCR reference code such as:
NCRDC(number) for a Debt Counsellor or
NCRCP(number) for a credit provider or
NCRPDA(number) for a payment distribution agent.
If They Don’t Have One
If they do not have one or if the one they show you or send to you via email (or Whatsapp etc) looks suspicious then it is probably a good idea to consider another supplier. This is a strong indicator that you are dealing with an illegal credit provider loan shark or a debt mediation scam. Rather look for a legitimate supplier.
The NCR maintains an online register of all these individuals and service providers on their website home page: www.ncr.org.za. The NCR tries to keep this register up to date.
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