Read Debtfree Magazine online -SA's Debt Counselling Industry Mag:

Debtfree Magazine is South Africa's Premier Resource for Debt Counselling information and news.

Debtfree Magazine is produced digitally each month and is distributed to Debt Counsellors, Credit Providers and subscribers country-wide. If you would like to stay current with developments in the world of Debt Counselling then this is the publication for you.

Visit : for more info.

Mail the word :"Subscribe" to to receive access to Debtfree Magazine free each month.

The Latest Debtfree DIGI

Monday, March 21, 2011

NCR to cut help for poor

On the 17th of March 2011 the National Credit Regulator (NCR) announced that they would no longer be assisting low income earners with a subsidy toward their debt counselling application costs.

Previously the NCR had offered a R750.00 subsidy to a DC accepting a case where the income of the consumers household was less than R3500.00. These funds were used by DC's to help cover their costs in regard to phone calls, faxes, emails, sms's, printing and time spent negotiating and preparing documents. Normally this would allow a DC to cover his costs. Without this contribution this will not be the case and DC's may now rather look to other clients in an effort to meet their monthly overheads. In a recent letter from Peter Setou the NCR announced that this arrangement would now fall away. While mention was made of the reason namely:"financial constraints" no mention was made in regard to where the funds that were formally set aside for the subsidies would now be spent.

This new development begs the question: is debt counselling now to be only for the rich?

No comments:

Post a Comment