South Africaâ€™s debt counselling magazine
March 2013 www.debtfreedigi.co.za
THE DEBT COUNSELLING INDUSTRY South Africaâ€™s most popular site for debt counselling information and consumer advise for debt solutions. Professional Indemnity - email@example.com Life Cover - firstname.lastname@example.org Car Insurance - email@example.com Bank Cards - firstname.lastname@example.org Credit Reports - email@example.com
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DEBT COUNSELLING EXPLAINED Debtfree DIGI asked Debt Counsellor Zune Coetzer of Zune Coetzer Debt Counselling to help explain the debt review or debt counselling process.
Debt Counselling is a legal process that was implemented in 2007. The ‘manual’ that all Debt Counsellors use is the National Credit Act 34 of 2005. Various case law acts as a guideline as to how to interpret the Act. In other words, interpretations by the different courts in our country. The whole concept of debt counselling is motivated by the need for the average household to have enough cash available for monthly running expenses and at the same time be able to service their debt. A successful debt review is a win-win process for both the consumer and the creditor. The debt counselling process starts with a consultation where the consumer brings the DC up to speed with their socio-economic situation. Together the DC and consumer work out a new budget for their household and determine what the consumer can afford to pay towards debt. Once the consumer signs the Form 16 the consumer enjoys the
protection of the Credit Act for at least 60 working days. Within the 60 working days that follow, the DC must inform all creditors of the consumer’s application for debt review and make proposals to repay the debt. The process is finalized when the Debt Restructuring Order is granted by a Magistrates Court replacing all previous credit agreements. Debt Review is a ongoing process of counselling and negotiation. Make sure that the DC you decide to use, will have your best interest at heart and has a good knowledge of the Act and the interpretations thereof. The DC must also be registered with the NCR and are is not allowed to make any payment distributions to creditors. It is always good to Google your prospective debt counsellor or debt counselling company before consulting them, as social media is a good indication of how the public experience the debt counsellor’s service.
Debt Wise Solutions Debt review and distribution software. Proud Software provider to DC Partner, Payment Distribution Agency.
Administrators of the Debt Counselling Application Process
CONTENTS 07 Editors notes
Editor Zak King speak about our new
All the latests events making headlines
14 Twin peaks 18 Living on Less
22 Think bike, think debt free
26 Debt counsellor profile
28 DC Announcement board 28 DC Partner 30 Service Directory
S im plicit y
Bitech is recognised as the leading Debt Counsellor software system supplier.
Simplicity is rich in functionality and caters for all Debt Counsellor requirements effortlessly.
Simplicity is leading edge technology and Bitech stay at the forefront of development - we continue to lead the way!
Debt Review Software by
The Simplicity system is fully integrated with Hyphen PDA, which provides you, the Debt Counsellor, with an uninterrupted and efficient service with no manual intervention and in total control. 27(0)16 987as5004/ Bitech is recognised the leading Debt Counsellor software system supplier. 27(0)16 987 5006/ SomeCounsellor features ofrequirements the Simplicityeffortlessly. system are completely unique 27(0)16 987 2369 Simplicity is rich in functionality and catersfor all Debt unique, amongst others is the ability to create firstname.lastname@example.org customised legal documentation instantaneously. Simplicity is leading edge technology and Bitech stay at the forefront of development - we continue to lead the way!
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Bitech prides itself on its afterintegrated sales service and the PDA, The Simplicity system is fully with Hyphen support it provides Debt Counsellors asuninterrupted which provides you,tothe Debt Counsellor,- this withisan important as service the excellence the Simplicity product! and efficient with noof manual intervention and in total control.
Some features of the Simplicity system are completely unique unique, amongst others is the ability to create customised legal documentation instantaneously.
Bitech prides itself on its after sales service and the support it provides to Debt Counsellors - this is as important as the excellence of the Simplicity product!
Hyphen Technology (Pty) Limited is a member of the FirstRand Group
Hyphen PDA is a division of Hyphen Technology (Pty) Limited, which is wholly-owned by the FirstRand Group - financial soundness is important when considering a PDA!
Hyphen PDA is at the top of its game and is unrivalled in the collections and payment space.
Hyphen PDA essentially operates with the use of banking 27(0)11 303 0060 extension 2 systems (iSeries PDA and Hyphen Technology (Pty)mainframe Limited is acomputers) member ofand thethe FirstRand Group Payments Engine are fully integrated - as a result you will seldom, ever, the of status of your collections or Limited, which is wholly-owned Hyphen if PDA is aquery division Hyphen Technology (Pty) by the FirstRand Group email@example.com payments. - financial soundness is important when considering a PDA!
The reports areofeverything a Debt Counsellor Hyphen PDAgenerated is at the top its game and is unrivalled in the will need to manage the business reporting is immediate, collections and payment space. current and always available. Hyphen PDA essentially operates with the use of banking
EDITORâ€™S NOTE If you have been visiting our site over the last few weeks you will have seen that www. debtfreedigi.co.za has been undergoing some changes. If your last visit was in February, then you are in for a treat, as things will now look very different to you. If you are reading this, then the site is working as planned. The largest online change is the separation of the monthly magazine from the daily news section. These are now on 2 separate pages. We hope this will speed up download times for readers and streamline their online experience while visiting us. The magazine continues to be our main focus and as such we have decided to make it available to our readers in as many formats as possible. Readers can access it via our landing page on their mobile devices too. This can be a mobile phone or tablet. The magazine will now also be downloadable in itâ€™s full form. This means that from this month on, readers will get all the benefits of the service directory and all advertiser content when downloading. Just as a warning, this does mean that though we optimise the PDF, it will still be quite a large file to download (between3 - 8 mb normally). The news section still contains short, easy to read articles relating to industry developments
and other debt or savings related content. Our commitment is to not take more than 3 minutes out of your day and still keep you updated. So feel free to bookmark us, and visit us early each day for news. You are also welcome to send us your thoughts and comments on magazine@ debtfreedigi.co.za . This months issue touches on Twin Peaks (and why you should care) as well as, takes us on a tour at DC Partner PDA. There is some great consumer advice in our LIVING ON LESS section and as usual news, interviews with DCs and more. We hope you enjoy the new look website and great articles this month which we hope motivate you to continue your battle to be debt free.
insurance done right Call us 086 126 6562 Marijke Wessels Portfolio Manager, Gauteng, KZN & Free State Mobile 082 729 3833 Email firstname.lastname@example.org Sam Haasbroek Portfolio Manager, Western, Eastern Cape & Northern Cape Mobile 082 550 7294 Email email@example.com
www.one.za.com One is an authorised financial services provider â€“ FSP 8783
NEWS FLASH For daily debt counselling news in 3 minutes or less visit www.debtfreedigi.co.za
MOODY’S DOWNGRADE AFRICAN BANK’S RATING
profile. They say that there are risks associated with the operating conditions in South Africa’s Moody’s Investors Service has downgraded unsecured lending market especially in view their rating of African Bank Limited’s (ABIL) of the subdued domestic economic growth deposit and senior unsecured debt by one and labour unrest in certain sectors which were mentioned in the recent budget speech. notch. Based in Joburg, African Bank had total assets of These are factors which effect all such creditors R59.1 billion at the end of 2012. What Moody’s but they feel African Bank is more susceptible is now saying is that compared to other similar because of their relatively ‘unseasoned loan debt issuers African Bank has dropped a peg. portfolio’ which faces the risk of rising levels Despite the lowered rating however, they say of non-performing loans and lower recoveries. Basically they think less people are going to that African Bank has a “stable outlook”. Their baseline credit assessment for African be paying back their African Bank loans in the Bank was also lowered as well as the next few months. A second worry is where (aforementioned) national-scale issuer ratings African Bank gets its money from. Despite a gradual diversification in the bank’s funding or NSR. sources over the last few years, African Bank continues to be mostly reliant on‘wholesale What’s a NSR? Moody’s National Scale Ratings (NSRs) and market funding’ Moody’s say that such a are intended as relative measures of funding profile is “confidence-sensitive” and creditworthiness among debt issuers (like ‘susceptible to market disruptions‘. the various SA Banks) within a country (For example South Africa) which helps market participants to better understand relative risks in investing and doing business with a creditor. Why? Moody’s have changed their rating based on the risks associated with the challenging operating conditions in SA’s unsecured lending market, which they say, will likely impact on African Bank’s financial performance; and the bank’s concentrated wholesale funding
NEWS CONTINUED ON THE NEXT PAGE
DEBT BUSTERS, OCTOGEN AND DEBORAH SOLOMON MENTIONED IN DEBT REVIEW SEGMENT
This month saw a focus segment on Carte Blanche called Conspicuous Consumption. After a brief look at the psychology behind consumer spending and what part of our psychology marketers use to get us to spend, the Carte Blanche episode focused in on the fact that consumers are spending more that they have. This was made clear by Ian Wason of Debt Busters. He mentioned some of the scary statistics which show just how bad the debt situation in SA has become. Deborah Solomon of theDCI then pointed out that the large banks are making big money off smaller loans much more so than from bonds. Reference was made to successful reckless lending applications brought to court by Octogen during last year and the fact that many creditors are engaged in reckless credit granting. An interview with a married couple revealed that they had 43 credit agreements when one of them lost their job and how things spiralled out of control. It was pointed out that consumers have a need to show off with nice things to impress others. Many consumers thus spend too much and live beyond their actual means. They leave little room for any emergencies. Debt Counselling was shown to be a lifeline. The feature was very complimentary about the process. Consumers were encouraged by the NCR to go visit Debt Counsellors sooner rather than later. When discussing how to find a Debt Counsellor, Debt Busters advocated their system of online and telephonic consultations
with trained personnel (not necessarily Debt Counsellors but trained consultants) since consumers are too busy to go and meet with a Counsellor. Deborah Solomon took the opposite stance saying that it is vital to meet with your Debt Counsellor. She says it is like a marriage, where regular contact is needed to make it a success. One consumer was interviewed and it was shown how his home and car were saved through the process. This brought him great relief until the bank decided to back out of the process even though a court order had already been granted. As a result Deborah and her legal team fought the bank to continue to protect the consumer. The NCR said that ignoring the court order is of course unacceptable. The focus segment ended with a comment from a consumer said how much it had helped. All in all it was a very positive look at the industry. For the video head over to: Carte Blanche
The National Consumer Tribunal (NCT) has imposed a R900 000 fine on an unregistered creditor called Werlan Cash Loans and ruled that its clients don’t have to pay back their loans. Werlan Cash Loans is situated in the Free State and was not registered as a creditor with the NCR and had not given financial statements to the regulator as required by the NCA. Werlan had later registered with the NCR but the NCT hearing related to loans given prior to there registering. As soon as a company has more than 99 credit agreements they need to register and report to the NCR.
donâ€™t be a twit
2013 ANNUAL BUDGET SPEECH
Minister Pravin Gordhan presented the 2013 annual budget speech to parliament yesterday. The budget speech sets out the governments spending and income plan for the next 12 months (and beyond). This year, special mention was made during the speech in regard to unscrupulous use of EAO/ Garnishee orders. The minister urged all employers to verify any such orders and encouraged law societies to take action against any of their members who were involved in abuses. Mention was once again made of how government were looking into an end to the use of EAOs entirely.
Dont miss out on a single issue!
Here are some of the other highlights: Fuel: Levies on fuel increase by 23c per litre from 3 April 2013. Unfortunately this will be another hit directly after the predicted upcoming 80 Cents or more hike in petrol price.
March 2013 www.debtfreedigi.co.za
Tax: If you want to subscribe, advertise or be listed in our Individual tax payers will start paying tax at an directory please contact us! annual income of R67 111.00 (up slightly from firstname.lastname@example.org last year) Sins Tax: As always drinking and smoking are habits that will cost consumers, and even more so this year. Beer drinkers will pay 7 cents more for a 340ml can. A bottle of wine will cost 15 cents more. Ciders and alcoholic fruit beverages is set to go up by 7 cents a litre. A 750ml bottle of spirits will thus cost R3.60 more from April 1st. Daily news items on Debtfree DIGI. The news in 3 min or less. www.debtfreedigi.co.za
LIVING ON LESS SAY CHEESE
NEXT PAGE 14
You’ve probably heard about this twin peaks “thing” recently. Its been the focus of discussion on many online forums. You will probably even have seen it mentioned in newspaper articles (the ones you normally skip because they are so boring). It is important to note that Twin Peaks could begin to affect you in the near future so it might be worthwhile to find out what it is all about.
mistaken for thinking of the strange and bizarre TV show by the same name from years back. However Twin Peaks is actually, at it’s heart, a way to split the financial market sector under two controlling bodies, a regulatory hierarchy system.
Why? South Africa want to fall in line with what is being done internationally. The idea behind Twin Peaks is not consumer protection as What is Twin Peaks? Well, when you hear that name you might be much as investor protection. It aims to ensure
that money invested will stay available in years to come. There will also be a focus on trying to curb unacceptable practices and unscrupulous operators from taking advantage of the gaps in regulation and supervision. Who will be the Twin Peaks? That is the big question. The decision could have far reaching consequences. Twin peaks as currently proposed, will not reduce the number of agencies involved in regulating and supervising the financial sector, but it is hoped that it will give more clarity on the assignment of their responsibilities. The current proposal which was recently put forth for comment is that the Reserve Bank and the Financial Services Board are put at the top.
authority. This means that once again a new round of fighting with creditors about what they are and aren’t allowed to do will ensue. It would mean that if the new entity formed favours creditors, then consumers could be in for a nasty surprise. Some go so far as to say it would destroy the process entirely. It would definitely necessitate changes to the National Credit Act. It might also shift focus away from consumer protection toward financial stability protection.
Many feel that BASA’s support (which is important) of this structure is an attempt to get away from regulation by the NCR, who have slowly been closing in on the bigger banks and practices such as reckless lending among larger entities. Recently the NCR suggested that the BASA Mr Cas Coovadia, MD of the Banking Association National Credit Tribunal fine African Bank R300 of South Africa, recently told the press that the million for bad business practices after only a NCR are not implementing the National Credit short investigation. Act (NCA) effectively and has said the NCR “could do more”, especially in the regulating of the non-banking lending space. Interestingly most people feel that the non bank lending space has up till recently received almost all of the NCR’s attention. Mr Coovadia also said there are a number of issues that the NCA does handle, but implementation and regulation of these matters are not fully carried out. So it seems that BASA feel that the NCR are not doing a good enough job.
Why the concern? The current proposal would place the National Credit Regulator under the FSB and/or would shift regulation of many entities which the NCR currently deals with out from under their
SEE WHAT THE NCR HAVE TO SAY OVER THE PAGE
TWIN PEAKS -THE TV SHOW When we turned on the TV years ago and saw federal agents walk into a bar in the town of Twin Peaks what we saw was bound to blow our minds. The TV show by Mark Frost and David Lynch introduced a fabricated town where homecoming queen Laura Palmer had been murdered. The program explored the gulf between the seemingly respectable surface of the town and the seedier underbelly of life in the area.
Interestingly in parallel, many consumers and industry folk liked the Twin Peaks regulatory model when they first heard it, but have recently begun to question its seemingly hidden underlying agenda and more recent incarnation.
Season 1 was just weird and wacky but by Season 2, the program had taken a darker turn, which put many viewers off.
All professionals have professional indemnity if the unforeseen happens. Do you as a professional Debt Counselor have professional indemnity as stipulated by the ethical code?
contact us today for more information
0861 112 882
TELEPHONE 0861 112 882 FACSIMILE 086 605 9751 MOBILE 082 449 6856 EMAIL email@example.com
Prudential: Exercising prudence, good judgment, or common sense To be prudent: Careful and sensible; marked by sound judgment; Prudential regulation: Aims to ensure that financial services institutions are sound and do not constitute a threat to the entire financial system. Market conduct regulation focuses on protecting customers that buy financial products or otherwise entrust funds to financial institutions. This is similar to but not entirely the same as consumer protection.
decision that was taken”…and that “It is very difficult to say what is going happen …” The Financial Stability Board says that discussions are under way, and the options include merging the NCR with a transformed FSB; or removing financial institutions from under the authority of the NCR. These institutions would then be subject to the prudential regulation of the Reserve Bank. National Treasury has been seeking public comment on its recent Twin Peaks discussion document, entitled “Implementing a Twin Peaks model for financial regulation in South Africa”. Many Debt Counsellors submitted comments.
When will it happen? This project, in principle, has been given the go ahead. Now it is just a case of choosing the role The NCR The National Credit Regulator has been players and changing legislation to allow for surprisingly quiet on the whole topic. Other it’s implementation. The first step in this regard than object to BASA’s criticism they have should begin to happen this year. At present essentially said they will do whatever they the Financial Stability Board in Switzerland say are eventually told to do by government. Ms they are not convinced that the proposal as it Motshegare said the NCR will support “any stands, is sufficiently comprehensive.
LIVING ON LESS Times are tough and we all need to make our money stretch these days. As the cost of living increases it seems that, come the end of the month, there is always a little less cash left to enjoy life with. The Living on Less is a section of Debtfree DIGI which looks at ways wise consumers can keep their living expenses down and save funds. We also consider ways to still have some fun for less. Living on Less is about spotting a great deal and letting others know. Itâ€™s about changing our mind set to reflect the reality that times are tough and we need to get savvy. Sure times are tough but you can still have fun while Living on Less.
When under debt review or going through tough times cash is tight and you might feel that you can’t have any fun or do anything to relax. Well, Reader and part time photographer Roxy R tells us all about her photography hobby and why she thinks you should give it a try. Before the digital era took off, photography was associated with all sorts of unreachably high expenses. The first ‘camera’, Obscura was a device which used a pinhole or lens to project an image of the scene outside upside-down onto a viewing surface, and was the size of a dining room table. What a mission! The digital frenzy has provided all of us with the inspiring
privilege of making photography part of our daily lives. Photography is one of those hobbies where you don’t need to spend a lot to get great results. Today many cameras no longer use film, but capture and save photographs on an internal storage or memory card. They even include wireless communication (for example Wi-fi or Bluetooth) to transfer, print
or share photos. These are commonly found on our mobile phones. Most mobile phones or devices can have a 5 mega pixel camera which can produce spectacular images. Gone are the days when we have to take our camera film to be developed so that we can share them with friends and family. Social networking has made it so much easier for us to share. Just log onto Facebook, Twitter, Instagram, Google+, flickr, dropbox, Wordpress or Pinterest to name but a few, and click upload! The internet cloud has made it possible for those across the world (or in Jo’burg/ Cape Town) to see our feet in the sand, or the coffee we are enjoying, the sandwich we are having for lunch, our smudged make-up at the club, or even our cute dogs and fluffy cats on their very own digital screens. My husband always says it is not the device you use that makes a great photograph. A truly spectacular photograph is the bringing together of all the pictures you have seen, the books you have read, the music you have heard and the people you have loved. Anybody can take a photograph. Even if they are all capturing the same image, i.e. Table Mountain, each individual will create a different photograph because of the person behind the device or camera. The point of this diatribe was to remind all that nothing is impossible in this day and age. You don’t need money in the bank to appreciate and capture timeless moments in life. I myself have taken up the project of photography. Whether I am using my iPhone or Leica D-Lux5, Kodak point-and-shoot or a Canon 5D MarkII I am able to relive special moments in my life through a timeless screen capture.
Nowadays, if you do decide to print your best photos, you can with ease. You could print them at home or use services like 250gram or print them up in a photobook. It’s as easy as 1,2,3. Photography is no longer a hobby exclusive to the rich! Why not start taking a few snaps and sharing them with your friends. It’s a really affordable hobby.
THINK BIKE THINK DEBT FREE According to a survey conducted last year, about half the trips people do in their cars in South Africa are less than 5km and 40% are less than 3km – at maximum that’s an 8 minute bike ride. With the petrol price continually increasing, why don’t we see more people using bicycles as transport in South Africa? Well, there are a few factors such as: Safety concerns, long distance traveling, transporting a family, not having a place to shower and change clothes / park your bike. The list goes
on. But let’s say, for instance, that you live a 10 minute drive from work or the shop or your local pub and you frequently find yourself alone in your car. Have you ever considered riding a bike instead of driving?
Besides the health benefits of being physically active every day, the amount of money that could be saved on transport costs is remarkable. I thought that a monthly petrol cost of R200 per month was too good to be
true until I realised that was actually how little I was spending once I started commuting by bicycle. Having opted for car / public transport / walking / lifts most of my working career, the idea of combining exercise with other ‘must-dos’ in life always appealed to me and when starting work at Bicycle Maintenance Company, it was difficult not to be enthused by the gradual yet undeniably strong movement towards commuting by bike. It is such a simple, satisfying pleasure listening to the sound of one’s tyres whilst ambling along in a side street; slowing the pace of life and placing
you in the moment whether you like it or not. The last couple of years Cape Town, especially, has seen a huge movement towards people using bikes as a means of transport again, nurturing a growing community of people passionate about making the streets of South Africa more cycle friendly. So why not jump on this wallet-friendly bandwagon? You may just find yourself wanting to hop on your bike every time you run out of milk. And you could buy yourself a chocolate with the money you saved in petrol getting there.
Were you inspired by our article on commuting? Do you feel like dusting off the old bicycle and hitting the streets? Well you might need a little help getting it roadworthy again. Don’t worry BMC and Debtfree DIGI are here to help. Bicycle Maintenance Company (BMC) are industry leaders in bicycle care and servicing. They specialise in the custom spaying of frames and building up of fixies. Based in Cape Town, they remain industry leaders in the bicycle maintenance field. This month BMC are giving away one bicycle maintenance service to a Debtfree DIGI reader from Cape Town. If you would like to win this prize simply visit http://www.bicyclerepairs. co.za/ and then email us and tell us: What is BMC’s address? Send your response to: email: firstname.lastname@example.org
Details: Prize consists of 1 x Mini Service to one reader. Entry will be randomly selected. Debtfree DIGI’s decision regarding the winner is final.
Debt Wise New Feature DebtWise is constantly looking for ways to help make our Debt Counsellors lives simpler.
PAID UP ACCOUNT NOTIFICATION The DebtWise system will send a system notification to the Debt Counsellor when a consumers account with one of their creditors is almost paid up. When there are about 3 payments left on a account, the system automatically generates an email to the DC to inform them of this. You can see an example of how the email notification looks on the next page. This is an extremely helpful feature since its gives the DC time to follow up with creditor/s in question, and to verify balances. If there are differences between the PDA statement and the records of the creditor this then allows enough time for both parties to try sort the difference. This feature helps the Debt Counsellor to make sure that payments do not just simply stop without any notification to the creditor leaving a small balance which might once again grow over time. This can cause further complications. This is just one of several new features our program has to help Debt Counsellors look after their clients.
Debt Wise Solutions Debt review and distribution software. Proud Software provider to DC Partner, Payment Distribution Agency.
EXAMPLE EMAIL From: DC Partner (Pty) Ltd [mailto:email@example.com] Sent: 15 March 2013 03:41 PM To: DEBT COUNSELLOR Cc: firstname.lastname@example.org Subject: Creditor payment notification Final Payments on Account Creditor Name : RCS CARDS - EASTON BERRY Creditor Ref. no: XXXXXX Creditor Contact details: email@example.com =========================================================== Name & Surname: Mr. GOOD CONSUMER App no.: XXXX ID No: XXXXXXXXXXXXX Please take note that the above mentioned creditor will be paid off in the next three to four months. Please contact the creditor to confirm the outstanding balance. Should there be a difference, please make the necessary Balance Adjustment on the consumers file. Also note that you will receive this mail for every deposit made until this balance is zero.
DEBT COUNSELLOR PROFILE
Zuné Coetzer Zuné Coetzer Debt Counsellors
051-436 4515 firstname.lastname@example.org www.zunecoetzer.co.za
have a very important role to play in enforcing the National Credit Act and I see myself as a student, rather than an expert in this industry. The law is constantly changing due to new case law where the debt review process and the What did you do before becoming a DC? I was a Warrant Officer in the SAPS for 10 years National Credit Act are interpreted in different in the HR department specializing in recruiting. ways. It’s up to me as DC, to make sure that I In 2000 I ventured into the private sector as an know the latest developments in the industry Estate Agent. My last position was as Director so that I can service my clients in the best of a Company that sourced building materials possible way. for the RDP builders. Who are your most co-operative and least cooperative credit provider at the moment? What area (of SA) do you practice in? I have a smaller DC company in Bloemfontein Consumer Friend and Edcon are the most cobut I service clients all over the Free State and operative credit providers and the least cooperative credit provider is Wesbank/FNB. beyond. How long have you been a DC? I opened my doors nearly 4 years ago on the 24th of June 2009.
What makes your business a success? The fact that I deliver a personal service to my clients. I have one on one consultations with them and I get to know them on a personal level. It is very important for me that my clients trust me and open up to me. I know all my clients by name, so when creditors phone with a query, I seldom need to draw a file to be able to assist. I know each client’s life story and therefore I can make a thorough assessment of the whole financial situation. I do believe if you understand the individual’s circumstances, you can advise and consult successfully. I also believe that we are here to deliver a service and my motto is to go far beyond the call of duty. Therefore, one of the most important factors in our business is the after care of our clients. We have recently opposed 2 court applications where FNB (on one client) and SA Home loans (on another) tried to rescind the court orders. We managed to oppose these two matters with success and cost orders were made against the creditors concerned. DC’s
What is the biggest challenge facing your consumers at the moment? Making ends meet with the ever rising living cost. Some households of 4 people have R1500 – R2000 available for groceries (incl meat). Some of my clients barely get by each month because of the constant rise in food and petrol prices. Consumers with children or elderly parents living with them are literally in a fight of survival. I see that single parent household’s are also struggling immensely. The biggest challenge is to be able to make a living with the income you have. Consumers have less money for debt repayments this year than ever before as they can barely afford the now increased basic living expenses..
DEBT COUNSELLORS ASSOCIATIONS ANNOUNCEMENT BOARD 17 April: Gauteng Meeting 12H00 to 15H00 - Kempton Park Golf Club 25 April: Eastern Cape Meeting. 15H00 to 16H30 - Venue t.b.c. 26 April: Kwa-Zulu Natal Meeting 10H00. Westville Country Club For further information please visit our website: http://www.dcasa.co.za/ Join us on our online forum: http://www. dcasa.co.za/forum/index.php www.dcasa.co.za
NEXT MEETING The BDCF will be holding a meeting in Cape Town during the month of April. If you would like to attend please contact: email@example.com or call 011 054 - 0700 All are welcome.
We will be in the Johannesburg High Court on March 20th arguing the next leg of The Big Case. Please come and support us at 10h00. To join NewERAâ€™s new class-action against the banks, please click here. https://secure.majesticinteractive.co.za/micro2/bf.php?fid=1267 For more information contact: firstname.lastname@example.org www.newera.org.za
AllProDC will not be having a physical meeting of the NEC next month. We are going to use facebook (and e-mail) instead. AllProDC Cape Town Workshop - 9 May A workshop will be hosted in May 2013. Topic: How to start and maintain a successful debt counselling business. Our first guest speaker is a successful entrepreneur and we will also have a second speaker advising on marketing and how to get leads etc. For more info contact: email@example.com www.allprodc.org
original main office is a single story affair with many a nook and cranny, all of which seem crammed full of staff members hard at work. No doubt back when DC Partner first opened it’s doors with its staff compliment of three, they thought they had plenty of space. That was before the huge increase in customers necessitated that they take on ever more staff. The staff compliment now stands at 50 people and the offices continue to grow as more and more Debt Counsellors and consumer begin to make use of their serv ices. DC Partners innovative use of online software (the Debtwise system) really set them apart at first. However it is their healthy compliment of staff which continues to make them a force to be reckoned with in the PDA industry. Debt Counsellors are assigned a client relations The town of George is known for its wholesome individual at the firm and all their matters are relaxed atmosphere. It is here along South promptly attended to. Regular updates to Africa’s “Garden Route” that you will find DC Debt Counsellors and fast turn around times Partner. Just off the main road, right near the are of the utmost importance to the company heart of town, the DC Partner office is deceptively according to DC Partner General Manager, small looking from the outside. Indeed from Herman Joubert. outside you can hardly see the entirely new building they have just constructed to cope We went from office to office to meet and greet with their growing need for more space. The staff. What was impressive was how Herman Debtfree were recently able to visit the offices of DC Partner (Payment Distribution Agency) in George, Western Cape. DC Partner is one of only a few registered Payment Distribution Agencies in South Africa.
Joubert was able to not only introduce us to each member of staff by name, but tell us what function they perform. Impressive indeed in a company of 50 people. This just goes to show the feeling of camaraderie that exists at the company and the benefits of having long term staff who have been part of the growing process. Herman who has been with the company from almost the very beginning, has an intimate knowledge of the business and the challenges that the industry faces. We took a few minutes to ask him some easy (and a few hard) questions. He was happy to try and answer our questions as best he could. Question: Some Magistrates have asked to see your Section 103(5) calculation software or an explanation of it. Can you help DC’s who face this situation? HJ: Yes we can provide documents which will assist. It is very easy to work out section 103(5) though. Many creditors do not agree on how they process this calculation. However a lot of the conflict is over the amount at the time of the default not other aspects. Section 103(5) is actually very simple. Take the amount owing at the time of first default and double it or times by 2. eg. R100 x 2 = R200. At present the DebtWise system uses the COB amount as the basis for 103(5) calculations unless the DC can provide further info. Question: Do you mind when DCs add your PDA as a respondent in the application? HJ: Not at all…we can also provide proof of insurance cover for the court if needed.
Question: In line with the CPA aren’t you meant to have contracts in place with both DCs and consumers? HJ: Yes and this is something we have been looking into…At present we do not have this in place and the NCR have not demanded this of us but we are looking at it. Question: Some Creditors charge consumers extra late fees when payments are not made by a certain date each month. If the consumer is using a PDA and the PDA releases the funds on a date later than the creditor expected, the consumer might face extra costs. Who is liable for these costs? What can be done? HJ: Unfortunately many factors come into play. If the consumer pays late or on a weekend it can make a difference to when the funds are distributed. If the consumer pays too little, that can also cause trouble. However even when a consumer pays the right amount at the right time some creditors do not allocate funds on their side fast enough… We are encouraging Debt Counsellors to ask their consumers to move over to a debit order to help regulate when payments are made.
What is a Payment Distribution Agency?
Question: What about when mistakes are made? HJ: We carry comprehensive insurance to help... in these matters. Question: What’s new and exciting at DC Partner at the moment? HJ: Well, we have just expanded our offices... at present we have 2 members of staff doing visits to Debt Counsellors in Cape Town and another 2 in JHB and Pretoria and might soon add a third staff member up north. We are also trying to add more visits to DC’s in KZN. We also have new exciting program features all the time. We enjoyed our time with DC Partner and were sad to have to leave. The warm sense of common purpose and familiarity was very pleasant. DC Partner have an open door policy for customers. They invite all DC’s to pop past their office and have a tour. Telephone: 044 873 4530, Website on: http:// dcpartner.co.za/ Email: firstname.lastname@example.org To see more photos of the various teams and staff members head over to: www.debtfreedigi. co.za/dc-partner
Consumers under debt review have often struggled with making timeous payments to their various creditors in the past. With the help of Debt Counselling and restructured payments this soon changes when under debt review. However some consumers still struggled to keep track of what amount they should pay to each creditor each month. Over time, these amounts change. How could they be assisted. The concept of a “payment distribution agency” was put forward. Consumers could make a single monthly payment to a distribution agency who could split up the payments and send the right amount of money to each creditor. Though not in the National Credit Act, the concept gained popularity since it made life easier for most parties. The NCR fully support the use of a PDA by Debt Counsellors and wish consumers to make use of their services in repaying their debts.
SERVICE DIRE DEBT COUNSELLING AA Debt Counselling Centre Anthea Johannes NCRDC531 Tel: +27 (0) 21 982 0522 Cell: +27 (0) 84 402 7032 Alan Watts NCRDC 962 NCR registered Debt Counsellor Tel: 084 4448439 Fax: 086 6501954 email@example.com www.active-debt-counselling.co.za
Debtcor Chrisna Horn Tel: 011 425 2882 Fax: 0861735433 firstname.lastname@example.org www.debtcor.co.za
Central SA Debt Counsellors 082 950 7806 Fax: 086 563 1621 Consumer Assist Johann Vermeulen Tel: 0861 628 628 Credit Matters 021 431 9100 email@example.com CS Debt Counselling Bernidene Smith NCRDC 764 057 352 4115/352 5000 Welkom - Free state Darran Manikam NCRDC704 firstname.lastname@example.org Debtbusters 0861 663 328 (NO DEBT) Debt Budget Tel: 021 824 8885
DEBTINC NCRDC’s 1071, 1188, 1189. Tel: (022) 713-2021 Fax: (022) 713-2028 Share Call: 0861 20 21 20 E-mail: Info@debtinclusive.co.za Website: www.debtinclusive.co.za SMS: HELP to 35075
Debt Rehab Colleen Van Wyk(BCom, LLB) Debt Counsellor NCRDC2619 Tel: 083 290 0848 Tel: 011 740 7374 Fax: 086 716 9694 Website: http://debtrehab.co.za Debt eezy Your Debt Solution made Easy Ashley Carstens NCRDC858 Tel: 021 839 2809 Fax: 083 512 4160 / 086 665 9125 Email: email@example.com Website: www.thedci.co.za
Debt Rescue Neil Roets NCR DC 474 Cell: 083 644 7406 Tel: 0861 800 009 Fax: 086 523 0617 E-mail: firstname.lastname@example.org www.debtrescue.co.za
DebtSafe 0861 100 999 Debt Solve Debt Counsellors Office: 033 397 0945 Debt Serious We are serious about debt Vida Scheepers NCRDC1792 Po box 394, Garsfontein, Pretoria 0042 Fax no: 086 553 9403 email@example.com
Debt Management & Counseling Services “The greatest glory in living lies not in never falling, but in rising every time we fall.” - Nelson Mandela Derry Burge NCRDC108 140 Irene Avenue, La Concorde,
ECTORY Somerset West, 7130 Tel: 021 855 5997 Cell: 074 177 5375 Fax: 021 855 1195 or 0865413200 E-mail: firstname.lastname@example.org Durban Debt Counselling Services Suite 112, 1st floor Union Club Building 353 Sm ith Street Durban, 4001 Tel: 031 301-7893 Fax: 031 301-5809 email@example.com Debt Counselling South Africa Cape Town Branch Tel: 021 919 66 94 Rod De Witt NCRDC831 Visit: www.debtcounsellingsa.co.za
Fair Finance Solutions Your debt is our priority Amanda Fair Registered Debt Counsellor NCR946 553 Jacqueline Drive Garsfontein Pretoria Tel: 0861 26 26 32 Fax: 082 921 7093 Cell: 086 564 3674 firstname.lastname@example.org www.fairdebtcounselling.co.za Fincorp debt Counsellors cc Cecilia Zwarts email@example.com
Holistic Debt Counsellors firstname.lastname@example.org Helpdesk Debt Counsellors Allan Hoffman Tel: 0861 000 754 Help-U-Debt (Vaal Triangle) Wanine Tel: 082 445 3967 Help-U-Debt (Potchefstroom) Madra 083 390 3275 Help-U-Debt (Parys) Marilouise 082 920 6249 Help-U-Debt (Vanderbijlpark) Herma 083 320 8303 Incentive Debt Counselling “Paving the way to a Debt Free Tommorrow” Darran Manikam NCRDC704 Tel: 031 409 9379 Fax: 031 409 1327 Cell: 0845898286 Branches: Phoenix and Shallcross Indigo debt counsellors CC Tel: 087 808 9734 Fax: 086 580 8675 email@example.com MG Consulting Strand - Helderberg Area Telkom : 021 853 4537 Mobile Phone: 082 450 7459 Fax Number: 0866 220 690 E-Mail: info@mgconsulting www.mgconsulting.co.za
The best angle to approach debt is the Triangle Caledon - Western Cape Contact Person: Yolande 8 Hoop Street, 7230 Caledon firstname.lastname@example.org Tel: 028 212 2537 Ceres - Western Cape Leyll str 61, 683 Ceres email@example.com Tel: 023 312 1292 Fax: 023 312 2119 Worcester - Western Cape 71 Porter Street 6850 Longitude: 19.44305 Latitude: -33.64942 firstname.lastname@example.org Tel: 0233420576 Fax: 086656801 Bloemfontein - Free State 94 Zastron, 9301 Bloemfontein Contact Person: Yolande email@example.com Tel: +27 51 448 2828 Fax: +27 51 447 9481 Viljoenskroon - Free State 35 Denyssen Street, 7230 Contact Person: Johann Olivier firstname.lastname@example.org Phone: +27 56 343 0352 Fax: +27 56 343 035 Welkom – Free State 329 Stateway, 9460 Welkom Contact Person: Susan Roux Email: email@example.com Tel: +27 57 352 6117 Fax: +27 57-352 2355
SERVICE DIRE EASTERN CAPE: DRS ALBANY Office: 041 373 9693 Email: firstname.lastname@example.org BORDER REGION: DRS BEACON BAY Johan Pretorius Cell: 082 324 4038 Office: 043 748 1139 DRS BUFFALO CITY Herman Marias Cell: 082 378 3743 Office: 043 7210652 DRS KING WILLIAMS TOWN Herman Marais Cell: 082 378 3743 Email: email@example.com DRS CRADOCK Office: 043 721 0652 DRS QUEENSTOWN Herman Marais Cell: 082 378 3743 Email: firstname.lastname@example.org DRS MTHATHA Herman Marais Cell: 082 378 3743 Email: email@example.com
DRS PORT ELIZABETH Derryn Fish Cell: 084 515 6135 Office: 041 453 8961 Email: firstname.lastname@example.org
DRS ALGOA Marius Weyers Cell: 083 497 3219 Email: email@example.com
DRS SIDWELL EXPRESS Keith Le Roux Cell: 073 207 1675 Office: 041 451 0474 Email: Keith@drssa.co.za
DRS BOND CHOICE Andrea Atkinson Office: 041 393 7000 Email: firstname.lastname@example.org
DRS SOMMERSET EAST Luther De Bruyn Cell: 082 568 2970 Office: 042 243 1107 Email: email@example.com
DRS CENTRAL EXPRESS Derryn Fish Office: 041 373 9693586 2020 Email: firstname.lastname@example.org DRS DESPATCH Isabe Landman Cell: 072 337 3328 Office: 041 933 1189 Email: email@example.com DRS HUMANSDORP Morne Steyn Cell: 083 298 8182 Office: 042 291 0135 Email: Morne@drssa.co.za DRS NKONKOBE (Fort Beaufort) Bernadine von der Decken Cell: 083 2859289 Office: 046 645 1898 Email: firstname.lastname@example.org DRS KIRKWOOD Keith Le Roux Cell: 073 207 1675 Office: 041 451 0474 Email: email@example.com
DRS UTENHAGE Lynn Lindoor Cell: 083 7174 183 Email: Lynnl@drssa.co.za FREESTATE: DRS GOLDFIELDS (Welkom) Irvin Billy (Derryn Fish) Cell: 072 114 4427 Office: 081 319 0083 Email: Billy@drssa.co.za DRS MANGAUNG Amanda Johnson Office: 041 373 9693 Email: firstname.lastname@example.org DRS FOREISTATA EXPRESS (Bloemfontein) Derryn Fish Office: 041 373 9693 Email: email@example.com
ECTORY DRS SOUTH FREESTATE Nelmarie De lange Cell: 079 236 3615 Office: 053 591 0734 Email: firstname.lastname@example.org GARDEN ROUTE:
DRS PRETORIA NOORD Office: 041 373 9693 Email: email@example.com DRS ROODEPOORT EXPRESS Derryn Fish Office: 041 373 9693 Email: firstname.lastname@example.org
DRS DE AAR Veronique Louw (Derryn Fish) Cell: 076 382 2020 Office: 053 631 1189 Email: email@example.com
DRS RUSTENBURG Amanda Johnson Office: 041 373 9693 Email: firstname.lastname@example.org
DRS GEORGE Francois Van Zyl Cell: 079 522 1930 Office: 044 874 2820 Email: email@example.com
KWA ZULU NATAL:
DRS EDEN (Hartenbos) Bruno Mertsch Tel: 042 291 1083/4 Email: firstname.lastname@example.org GAUTENG: DRS CENTURION EXPRESS Amanda Johnon Office: 041 373 9693 Email: email@example.com DRS LYNNWOOD Junique Julius Office: 012 807 4339 Email: firstname.lastname@example.org DRS PRETORIA EXPRESS Ben Vermeulen Cell: 082 442 8654 Office: 012 331 2145 Email: email@example.com
DRS GREYVILLE Vyas Juggernath Cell: 083 206 0300 Office: 031 309 8716 Email: firstname.lastname@example.org DRS KOKSTAD Melanie Louwrens Cell: 083 269 0424 Office: 039 727 1430 Email: email@example.com DRS MORNINGSIDE DURBAN Erica Mtshali (Amanda Johnson) Cell: 076 578 8660 Office: 031 301 5990 email firstname.lastname@example.org DRS PHOENIX Vyas Juggernath Cell: 083 206 0300 Office: 031 309 8716 Email: email@example.com
DRS PIETERMARITZBURG Sanele Zulu Cell: 083 543 3487 Office: 033 394 8319 Email: firstname.lastname@example.org WESTERN CAPE: DRS BELLVILLE Patricia Bekker Office: 021 948 8523 / 4 Email: email@example.com DRS DIAMOND Clive Palmer Office: 021 421 8563 Email: firstname.lastname@example.org DRS TYGERBERG Craig Lakey Cell: 082 627 0957 Office: 021 945 4062 Email: email@example.com DRS WEST COAST Marius Coetzee Cell: 082 978 4407 Office: 022 713 3766 Email firstname.lastname@example.org DRS SALDANHA Marius Coetzee Office: 022 713 3766 Email: email@example.com DRS SOLUTIONS Christelle de Villiers Cell: 084 586 5600 Email: firstname.lastname@example.org
SERVICE DIRE Think Green Debt Counselling Sandi Pauw email@example.com Tel : 012 991 6638 Cell : 082 460 7800 Fax : 086 219 2615 Mzansi Debt Counselling Octavia Hlatshwayo Tel: 011 868 1185 Fax: 0861 00 22 70 firstname.lastname@example.org www.mzansidc.co.za NDA Debt Counsellors Your Trusted Debt Counsellors Gary Williams (NCRDC 143) Tel: 034 315 3880 Fax: 086 612 4112 email@example.com www.ndad.co.za
U-Win Debt Counsellors Coreli Roos - NCR DC 509 Aliwal North, Burgersdorp, Bethulie, GariepDam, Smithfield, Springfontein Cell:079 626 66241 firstname.lastname@example.org Zuné Coetzer Debt Counsellors NCRDC 1599 24 van der Stel Street, Dan Pienaar Bloemfontein Tel: 051-4364515 Fax: 086 5870 845 Email: email@example.com SUPPORT SERVICES
Penny Wise Debt Counselling Cathy Foster Debt Counsellor - NCRDC1977 Tel: (011) 794 9912 Fax: 086 719 3378 Mobile: 083 298 4467 Email: firstname.lastname@example.org www.pennywise.co.za Rihanyo Debt Counselling (012) 804 50 57 SFA Debt Relief Consultants Adri de Bruyn NCRDC998 11 Market Street / Markstraat 11, Paarl, 7646 Tel: 021 872 1968 Fax: 021 872 2678 email@example.com
Staff Line Ndizani Executive Recruitment Cell no: 083 3028163 Direct Line: (011) 468 - 2150 E- Mail: firstname.lastname@example.org
TRAINING Compuscan Academy 0861 51 41 31 www.compuscanacademy.co.za Dawn Jackson Training You & Your Money NCR accredited 10 day debt counsellor training courses ëTraining and mentoring DCs since 2007 Do you want to be a registered debt counsellor in this Industry or, do you need to educate/ upskill or empower staff with a DC registration number in your existing debt counselling business? Courses devised to suit all needs, with flexible timeframes to accommodate work demands. Inhouse / on site training for company staff. Contact Dawn Jackson Cell: 072 1769789 email@example.com FINANCIAL ABSA Customer Debt Repair Line 0861 005 901 Credit Ombudsman 0861 662837
Information resources & services www.thedci.co.za Designtimes South Africa’s creative resource www.designtimes.co.za
Experian 011 799-3400 firstname.lastname@example.org Eric Streso Financial Planner B Juris LL B CFP MBA Tel: 0833273358 Fax: 086 612 7912
ECTORY Fair Debt 0829019788 or 012-3772558 email@example.com PACFIN Financial Solutions Head Office Tel: +27 11 9757445 Fax: 0865368783 36 Van Riebeeck road Kempton Park 1619 firstname.lastname@example.org Monte Carlo Building No 8 Voortrekkerstreet Kempton Park 1619 Kempton Park Contact: Reyno Coetzee Tel: +27 11 3945363 Fax: 0866048002 Cell: +27 73 3690884 email@example.com Boksburg / Germiston Contact: Armand Posthumus Tel: +27 11 8921911 Fax: 0865620378 Nelspruit Contact: Ann Baker Tel: +27 13 7415559 Fax: 0880 1374 15559 Cell: +27 82 9024236 firstname.lastname@example.org Springs Contact: Wynand Mclachlan Tel: +27 11 8113728 Fax: +27 11 8113728 Cell: +27 83 2754014/5 email@example.com Gooseberry Business Advisory Tel: 012 644 0589 Nedbank Debt Rehabilitation & Recoveries
Services 0860 109 279
STD Bank Debt review Helpline Telephone: 0861 111 402
Karen van Staden Tel: 012 998 9117 / 012 993 2132 Fax: 086 721 6467 / 086 662 1153 IsEmail: it time firstname.lastname@example.org to expand your Debt Counselling practice? email@example.com www.hauptearle.co.za Do you need specialist Attorneys with a national
TransUnion 0861 482 482 Thinkmoney Financial comparison website Contact: Gareth Mountain Tel: 079 0996 798 www.thinkmoney.co.za WIZARD Vereeniging Making Mortgage Magic Wanine Smit Tel:+27 16 454 1132 Fax:+27 86 686 3678 Cell:+27 82 445 3967 www.wizard.za.com
LUCID Attorneys Do you need expert advice on how to protect Tel: 011 880and 1100 your practice your clients? Fax: 011 880 1101
Are you informed about recent statutory and Email: firstname.lastname@example.org legal developments within the industry?
Attorneys servicing individual needs Pretoria: +27(0)12 998 9117
FINANCIAL PLANNING Eric Streso Financial Planner B Juris LL B CFP MBA Tel: 0833273358 Fax: 086 612 7912 LEGAL RM Brown and Associates 601 Pier House, 13 -17 Heerengracht, Cape Town Tel: 021 431 9127, f: 021 425 0875 Email: email@example.com
Nelspruit: +27 (0)13 752 708
O’Connell & Associates Attorneys at Law Keegan O’Connell firstname.lastname@example.org Tel 021 462 1663 Fax 0866 504 550 303 Millborough, 70A Upper Mill Street, Vreedehoek, Cape Town, 8000 Prinsloo & Associates Attorneys and conveyancers Nanika Prinsloo Farm Bergamot, Paarl 7620 P O Box 6199, Paarl 7620 14 Laing Street, Barrydale 6750 Cell: 072-8558-106 Fax: 086-623-5986 email@example.com www.empowerlaw.co.za
DIRECTORY Scheepers Attorneys Gerhard Scheepers firstname.lastname@example.org
CREDIT BUREAUS Compuscan 0861 514 131 www.compuscan.co.za Computer Profile Bureau 0861 28 7328 www.c-p-b.co.za
Dont miss out on a single issue!
Experian www.experian.co.za Business- 0861 63 60 70 Consumer- 0861 10 5665 Steyn Coetzee Attorneys / Prokureurs Adri de Bruyn 11 Market Street / Markstraat 11, Paarl, 7646 Tel: 021 872 1968 Fax: 021 872 2678 adri@steyncoetzee.Co.Za Agiliti CC Colleen Van Wyk(BCom, LLB) Tel: 083 290 0848 Tel: 011 740 7374 Fax: 086 716 9694 Website: http://agiliti.co.za
Micro Lenders Credit Bureau 0861 28 7328 www.mlcb.co.za TransUnion 0861 886 466 www.transunion.co.za
March 2013 www.debtfreedigi.co.za
XDS 0860 937 000 www.xds.co.za
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Debtfree Magazine. The March 2013 issue of SA's free Debt Counselling and debt review industry magazine.This issue contains news, as always,...
Published on Mar 17, 2013
Debtfree Magazine. The March 2013 issue of SA's free Debt Counselling and debt review industry magazine.This issue contains news, as always,...