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The Latest Debtfree DIGI

Sunday, March 14, 2010

PDA problems

When a person goes into the Debt Review process they stop paying their creditors directly themselves and pay one payment of the lump sum toward their debts to a Payment Distribution Agency (PDA). The PDA then split the money between all the creditors according to the plan provided by the debt counsellors.

This process allows for independent 3rd party monitoring of the payments in case disputes arise. These PDA's are monitored by the NCR regularly. At the moment in South Africa there are 6 PDA opperating. They preform a vital link in the debt review process.



However there are sometimes problems that arise as well as no institution is perfect.These problems normally relate to payment times, delayed reporting back to the Debt Counsellor , non distribution of funds, incorrect ref numbers being used or other such issues.

Are you a DC?
Are you having issues with your PDA at present?
Please send us an email and inform us of what is happening.
feel free to mail to: magazine@debtcounsellingsa.co.za

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