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NCR Debt Review Withdrawal Guidelines 2021


The National Credit Act 34 of 2005 (NCA) introduced debt review as a debt relief measure for over-indebted consumers. However, the provisions to withdraw from this process by the consumer or debt counsellor(DC) is not specified in the NCA.

To provide a solution for consumers whose financial circumstances have improved whilst under debt review to revert to contractual payments, in 2011 the credit industry implemented a voluntary Form 17.4 withdrawal process which was subsequently replaced on 19 February 2015 by the Withdrawal Guidelines 002 of 2015 issued by the National Credit Regulator(NCR). Since implementation of the NCR withdrawal guidelines … Read more

The DCASA 58th Edition Newsletter

The DCASA’s recent newsletter on the latest update on the debt re-arrangement discussion document touches on a number of concerning issues that are rife within the industry. The most pertinent issues, such as those involving the head office or branch office of the Counsellor, reckless credit, cases where Creditors have not accepted, realisation of assets by Debt Counsellors, Debt Rearrangement Orders, training, and offences by unregistered persons have all been addressed in the newsletter. Read more by clicking here.

What is DCASA doing against rogue Debt Counsellors and how to avoid becoming a victim?

The Debt Counsellors Association of South Africa has been working with the NCR and various other stakeholders to curb the abuse seen in some Debt Counsellor practices.

  • Misleading Advertising, where they state –“We can remove your Debt Review status. Easy loans Debt Review – no problem. We can do the same as your current Debt Counsellor but for a lot less. “
  • Comparison sites claiming to be the best. (Remember the Top Debt Counselling Company mentioned on the site is the company that pays for the advert).

As there are still a number of “rogue Debt Counsellors” trading, it has … Read more

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