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ARTICLE · 01 FEBRUARY 2012

Reviewing The Debt Review Process

During 2010 the National Credit Regulator together with various stakeholders in the credit industry, appointed a task team particularly to investigate the debt review process and to consider and formulate proposals to address problems identified in the debt counselling process pursuant to that investigation.

South AfricaConsumer Protection
Simone Monty
Simone Monty

Without Prejudice October 2011

During 2010 the National Credit Regulator together with various stakeholders in the credit industry, appointed a task team particularly to investigate the debt review process and to consider and formulate proposals to address problems identified in the debt counselling process pursuant to that investigation.

During August 2011, the NCR issued a statement that, following the aforesaid investigation, a new system had been proposed for introduction in order to standardise the manner in which debt counsellors assess applications for debt counselling and draw up proposals for over-indebted consumers.

The intention is to assist with the efficiency of the debt review process and to keep debt review cases from landing up in court as a result of inconsistencies and/or problems and/or delays.

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