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.
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