- NCR, DTI, NDMA, Consumer Protection Board, Banking Association of South Africa, Credit Ombud
- South Africa
In June 2007 the National Credit Act came into effect as a new law. NCR Registered Debt Counsellors work according to the National Credit Act and are governed by the National Credit Regulator.
Debt Counselling is a process that helps consumers who cannot afford to pay their normal monthly debts, while protecting them under the National Credit Act.
Debt Counselling is not a free holiday from paying your debt, but rather a more structured way to help consumers pay their debt, while still being able to have money for necessary living expenses.
This needs to be done in a fair and reasonable manner both towards the consumer and the credit provider.
Debt counsellors are professionals who help others in need while taking on a very stressful position of being the mediation between consumers and creditors. Debt counsellors have saved 1000's of homes, cars, assets and given peace of mind to 1000’s of consumers in financial stress.
The Debt Counselling Industry needs YOU – Unite and help us to make the difference.
We, the undersigned, debt counsellors and consumers, call upon all Financial Institutions to stop trying to undermine, demoralize, challenge and break the debt review process.
On behalf of our consumers, consumers who have been affected and consumers who believe in their rights and the rights of others, we ask that you stop with your intimidation, harassment and bullying tactics.
To stop with illegal termination tactics, to stop visiting consumers at their homes while you try to install fear that their debt counsellors have not done their job correctly. This being done while you try and force them to sign an AOD and get them out of the debt review process.
To stop deceiving consumers by informing them that their debt counsellors are stealing money, that the debt review process is not working and that the consumers are incurring further debt pertaining to your interest charges. To stop misleading consumers by pretending that you are allowed to offer a debt counselling service. Stop worsening any past, present or future consumers situation by misrepresenting the truth.
We insist that you start to act in Good Faith both towards the debt counsellors and all concerned consumers.
The Stop Financial Institutions Acting in Bad Faith petition to NCR, DTI, NDMA, Consumer Protection Board, Banking Association of South Africa, Credit Ombud was written by The Debt Counselling Industry and is in the category Consumer Affairs at GoPetition.