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South Africa

South African’s in Debt Counselling Can Lower Credit Insurance Rates

Deborah Solomon of The Debt Counselling Industry

The Debt Counselling Industry in South Africa has announced a new insurance product to assist consumers struggling with financial troubles. In South Africa, when consumers are working with a registered debt counsellor who can put together a court approved and mandated repayment plan, up till now there has been little relief from the exorbitant fees paid to creditors when they ... Read More »

Debt Relief Industry Living Groundhog Day. South Africa Can’t Think Globally.

Screen Shot 2012-10-25 at 10.44.14 AM

The other day I caught a bit of that movie Groundhog Day. That’s the Bill Murray film where he wakes up every morning and it is the day before all over. As someone who has been involved in debt relief in Ireland, UK, U.S., The Netherlands, and some in South Africa I can tell you that the debt relief industry ... Read More »

South African National Credit Regulator and Magauta Mphahlele in Crosshairs

Recent activity by the National Credit Regulator, and the CEO of the creditor controlled NDMA, Magauta Mphahlele, has created a flurry of activity among South African debt counsellors who are not happy that the voluntary debt mediation project (VDMS) has been cancelled. The new process sounds very similar to a UK or Canada IVA type arrangement or a U.S. non-judicial ... Read More »

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