MSM Debt Counseling

22/05/2022

Job description
MSM DEBT COUNSELLING: REGISTERED DEBT CONSELLOR
1. DEBT Rehabilitation Company requires Debt counsellors/Financial advisor
3.Applicant must be target driven, energetic, motivated and have excellent communication skills in English with min 2 yrs exp. in similar field and/or Micro Loans, Personal Loans
Applicant must live in and around Johannesburg
Key Responsibilities
consulting to clients within the following remit:
Talking to them about their debt situation
Looking at your income and expenditure
Offering emotional support
Working out a realistic budget
Helping you determine priority payments
managing and supporting through the debt management process
Processing applications

073 063 6598
011 958 5070

24/04/2020

15/04/2020

FOR CONSUMERS
Regarding Form 17.3
Many or most consumers will not be able to pay their debt instalments very soon.
You need to inform your debt counsellor and provide proof for example a letter from your employer providing the reasons.
Your debt counsellor will inform all your creditors and use a Form 17.3 See previous post for example of this form.
The only purpose of this form is to notify the creditor that you will not be able to meet your obligations.
Please note this is only a notification.
It is not a guarantee that creditors will accept a reduced instalment or that your house or car is save from litigation.
Any alterations to your re-arranged debt review order must be done directly between yourself and the creditor. The Act does not provide any powers to the debt counsellor to negotiate on your behalf or make alternative arrangements.
You need to phone or write to the creditors directly and discuss possible payment holidays and how it will effect your re-arrangement going forward.
No debt counsellor can guarantee you that your house or car will be safe. It is your responsibility to communicate and negotiate directly with the creditor and very important
ALL AGREEMENTS REACHED MUST BE IN WRITING
More important if possible ensure all negotiations are in writing.
Forward all agreements / arrangements to your debt counsellor

E-mail addresses of the main debt review centres
Standard Bank : [email protected]
FNB : [email protected]
Absa : [email protected]
Nedbank : [email protected]
Capitec Bank : [email protected]
African Bank : [email protected]
Consumer Friend : [email protected]
(Consumer Friend for Woolworths , RCS, Game , Foshini, JD, Capfin, Mr Price, Sanlam , Truworths)
Any other creditor please ask and I m sure somebody will provide us with contact email address

NB - Be prepared for the following response:-
"We may / can only speak to your debt counsellor!"
THIS IS AN UNLAWFUL RESPONSE!!!
Please forward me all these responses / emails I have already taken it up with the NCR who said they will address it.

09/04/2020

DIFFERENT STAGES OF DEBT REVIEW AND FORMS PRESCRIBED FOR THESE PURPOSES
All Notifications must be send (done via email) to all credit providers listed on the debt review application and every credit bureau.

Consumer apply for debt review
Form 17.1
Consequence
•Credit Bureaus immediately update the consumer status to "Applied for debt review"
•Credit Providers are prohibited to enforce the agreement via legal action and must co-operate in good faith with the debt counsellor. Credit providers are not allowed to enter into new credit agreements with these consumers.
•Consumer is not allowed to apply or enter into any further credit agreements or use credit facilities (existing credit card , store card, overdraft facility and revolving account)

Consumer's application was rejected
Form 17.2 option (a)
Consequence
•Credit Bureaus must remove the debt review status
•Credit Providers If the account is in default may proceed with steps to enforce the agreement
•Consumers return to original status. If the consumer however does not agree he/she may apply directly to the Magistrate Court using Form 18 in the regulations

Consumer's application was accepted
Form 17.2 option (b)
Consequences
•Credit Bureaus status stay the same "Applied for debt review"
•Credit Providers Must verify the account information and comply with any reasonable requests of debt counsellor to investigate reckless credit. If the consumer is found to only have financial problems the credit provider and consumer will negotiate to come to suitable repayment proposal.
•Consumers Will be presented with payment proposal, must make adjustments to personal budget. Will depose to a confirming affidavit to attach to the debt review application that will be referred to the Magistrate Court / Tribunal
The debt review must be finalised in Court
The Court must conduct a hearing
If a consumer during this stage decide he / she no longer wish to continue with the process he / she being a respondent in the debt review application may inform the debt counsellor and ask the debt counsellor to ask the Court to reject the debt application. This will then stop the process and the consumer will exit debt review.
If the debt counsellor refuse to listen to the consumer nothing prevent the consumer to file an opposing affidavit , state reasons why he / she no longer want to continue and personally (or appoint an attorney) to be in court on the day the application is before the Magistrate and ask the Court to reject the application.

Court Order / Tribunal Order granted
Court Order must be send to all Creditors and Credit Bureaus
Consequences
•Credit Bureaus Status will be updated "Debt Review Court Order" to ensure credit providers are informed that the consumer is not allowed to enter into any new credit agreements.
•Credit Providers Must restructure the accounts as per the debt review order payment proposal
•Consumers Cannot apply for any new credit. Must make payments as per the court order. If paying creditors directly make sure to understand the debt review order and payment schedules. Ask your debt counsellor for detailed payment schedules (cascading) and Keep record of each payment. If you pay via a PDA make sure you receive a monthly "distribution statement". Consumer will be under debt review until all the payments have been made as per the payment proposals to all creditors listed under the order.

Clearance Certificate - Form 19
Consequences
•Credit Bureaus Must remove the debt review status and expunge all information relating to debt review on all the accounts that was restructured.
•Credit Providers Must remove the debt review status. If there is a dispute on an outstanding "end balance" it will be a dispute between consumer and creditor.
•Consumer May apply for new credit and or enter into new credit agreements

03/04/2020

In order to remove the debt review status from your name, you have the following options:

- If a debt review court order was granted, you need to appoint an attorney to rescind the court order and declare you to be not over-indebted. The debt review flag can be removed as soon as the order is rescinded;

- If a debt review court order was not yet granted, you need to appoint an attorney to bring a court application declaring you no longer over-indebted. The debt review flag can be removed as soon as the court order is granted;

- If all the debt, except the home loan, have been settled in full and the home loan is not in arrears and you can afford the future installments on the home loan, a debt counsellor can issue a clearance certificate. The clearance certificate can be issued by any debt counsellor, it does not have to be issued by the original debt counsellor. The debt review flag can be removed as soon as the clearance certificate is issued.

The debt review flag needs to be removed on the NCR system, which the debt counsellor usually does. Since the debt counsellor is no longer practicing you will have to provide the NCR with any of the abovementioned documents and request them to update your status.

01/04/2020

https://www.fin24.com/Money/Debt/lockdown-to-take-or-not-to-take-a-payment-holiday-20200330

25/12/2016

While you’re making 2017 your best year yet, we’ll take care of your debt problems