Greetings, readers! We have some insightful updates from the second quarterly meeting of DCASA (Debt Counselling Association of South Africa), NDCA (National Debt Counsellors Association), and NCR (National Credit Regulator) held on the 8th of June 2023. Let's dive into the key takeaways from this informative session!
Registration Renewals
Unfortunately, due to scheduling constraints, the meeting couldn't include the registration renewal department. However, rest assured that the concerned parties have requested a separate meeting to inquire about the upcoming renewal steps and process. Once the meeting concludes, a communication will be sent out to all stakeholders to keep them informed.
DHS Status Code Enhancement
The NCR brought exciting news about the DHS (Debt Help System) status code enhancement. After successful testing, the development team is content with the improvements. As a reminder, the current guidelines for consumers remaining under debt review and the legal position on withdrawal will remain unchanged. If anyone wishes to challenge the NCR's position, it will require opposition via a declaratory order.
To streamline the process of requesting updates from the NCR via DHS, enhancements have been made to allow changes to be requested directly through DHS, eliminating the need for email requests. The DC Administrator will now receive a message to review attached documents before proceeding with approval. The NCR has requested approval from Exco to publish a communication on these DHS enhancements, including details on the implementation timeline.
Addressing Unreasonable Transfer Requests
During the meeting, the topic of unreasonable transfer requests made by certain debt counsellors was discussed. These requests, primarily from high-profile debt counselling companies, involved promising existing debt review clients better deals or removal from debt review. Subsequently, they requested numerous transfers from the current debt counsellors. The NCR has identified a few debt counsellors involved in this practice and initiated investigations to address the issue.
NCR's Meeting with Capitec
Great news! The NCR had a meeting with Capitec to address a YouTube video that contained inaccurate information about debt review, portraying it in a negative light. The NCR insisted that advertisements, including those from Capitec, should be more balanced and accurate in the future. As a result, Capitec has retracted the video. If anyone comes across the video, it's important to inform the NCR to maintain transparency and accuracy in the industry.
Future Initiatives and Next Meeting
Lebogang Mosupye, the chair of the meeting, mentioned that participants can expect the resumption of CIF (Consumer Information Form) soon, and dates will be communicated in due course. The next quarterly meeting is scheduled for September, promising more insightful discussions and updates.
In conclusion, the June 2023 quarterly meeting provided valuable insights into the debt counselling industry's ongoing developments and initiatives. From enhancements in the DHS system to investigations into questionable practices and misinformation, the NCR and industry associations are committed to ensuring fair and accurate debt counselling processes for consumers. Stay tuned for further updates in the next meeting and beyond!
References:
DCASA. (2023, June). NCR Quarterly Meeting Feedback. Retrieved from https://www.dcasa.co.za/ncr-quarterly-meeting-feedback-2/