NCR keeps tabs on debt counsellors

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The National Credit Regulator (NCR) every year receives at least 300 complaints from consumers who have been coerced into undergoing debt review.

NCR’s senior education officer Didi Sebothoma warned consumers to be diligent when applying for debt review.

She said their complaints resolution procedure entailed obtaining relevant documentation from the consumer as well as the registrant. “In the event that the debt counsellor provides documentation to support placing the consumer under debt review, our office will then advise the consumer that there is evidence to support the debt counsellor’s action and we will further advise them of the process to lawfully exit from debt review.

 

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