Debt management campaign launched

[Datura]

A campaign to assist debt-stressed consumers was launched on Wednesday by the Banking Association of SA (Basa), the National Credit Regulator (NCR) and the Debt Counselling Association of SA (DCASA).

It aimed to "address adverse consumer behaviour trends as well as promote a better understanding of debt counselling, including expected conduct by consumers", they said in a statement.

Two target audiences had been identified for the campaign -- consumers who were debt-stressed but not yet under debt review, and those already under review.


"As a starting point, we would like to invite debt-stressed consumers to contact banks when it comes to dealing with over-indebtedness before applying for debt counselling, and preferably before actually defaulting."

According to the DCASA, debt counselling at present was not achieving its aims, as outlined in the National Credit Act. Limited cases were being resolved and there were high levels of default by people getting counselling. - Sapa

http://www.busrep.co.za/index.php?fArticleId=5638351

 

[blunomore]

"As a starting point, we would like to invite debt-stressed consumers to contact banks when it comes to dealing with over-indebtedness before applying for debt counselling, and preferably before actually defaulting."

So they have created another step in the chain of steps. I wonder what the bank will then do in such a case? Give free financial advice on how to manage the customer's debt, or what .. ?

 

[Ou grote]

Why don't they get companies like Direct Axis to stop spamming people with offers of loans?
Or get banks to stop phoning people to tell them about the pre approved credit cards they qualify for???

 

[MartyMarts]

Why don't they get companies like Direct Axis to stop spamming people with offers of loans?
Or get banks to stop phoning people to tell them about the pre approved credit cards they qualify for???

Yeah, those sms's from Direct Axis are pretty annoying. I received a 'gold card' from them in the mail a few weeks ago :wtf:

 

[UnUnOctium]

So they have created another step in the chain of steps. I wonder what the bank will then do in such a case? Give free financial advice on how to manage the customer's debt, or what .. ?

No way, unless they're forced. Banks love it when you're in debt. Means they have the upper hand.

 

[MartyMarts]

So they have created another step in the chain of steps. I wonder what the bank will then do in such a case? Give free financial advice on how to manage the customer's debt, or what .. ?

Exactly. Can't see what the point of that would be...