Who needs to register?

 

The Act makes provision for the registration of debt counsellors which have complied with all the provisions of The Act and satisfied the training requirements of the NCR.

 

Debt cousellors will conduct independent enquiries into consumers’ financial circumstances and make recommendations to the courts concerning debt restructuring and suspension of reckless credit agreements. 

 

Requirements for Registering as a Debt Counsellor as per Section 44 and Regulation 10 of the National Credit Amendment Act, 19 of 2014:

 

1.    Applicant must  be 18 years or older

 

2.    Must have  a grade 12 certificate  or equivalent level 4 qualification issued by the South African Qualifications Authority in terms of regulation 10 ( a) ( i) 

 

3.    Must successfully complete a debt counselling course  approved by the National Credit Regulator  and provided  by an institution approved  by the National Credit Regulator;

 

o    University of Pretoria     012 420 5015

 

o    Damelin                        011 242 3400

 

o    RUDO                             012 663 3251

 

o    Compuscan Academy     021 888 6048

 

o    Institute of Bankers        011 461 7013

 

4.    Must have  a minimum of two years working experience in any of the following  fields;

 

o    Consumer Protection

 

o    Complaints Resolution

 

o    Consumer Advisory Services

 

o    Legal or Paralegal Services

 

o    Accounting or financial services

 

o    Education or training of Individuals

 

o    Counselling of Individuals

 

o    General Business Environment

 

5.    Must not be subject to an Administration order as contemplated in section 74 of the Magistrate‘s court Act 32 of 1944

 

6.    Must not be subject to debt re-arrangement as contemplated in section 86 and 87 of the National Credit Act.

 

7.    Must not be engaged in, employed by or acting as an agent for a person that is engaged in –

 

o    Debt collection

 

o    The operation of a credit bureau

 

o    Credit provision

 

8.    The person must demonstrate ability to manage his / her own finances at the time of applying for registration as well as providing counselling or transfer of skills

 

The applicant’s credit bureau profile should not reflect significant adverse information. The Following is considered as significant adverse information:

 

1.    The applicant‘s credit bureau record reflecting Judgments exceeding R20, 000.00

 

2.    The applicant has 2 or more Judgments in the last 24 months

 

3.    The applicant has been placed under Administration and or debt review

 

4.    The majority of the applicant’s credit accounts are more than 3 months in arrears

 

5.    The applicant has 3 or more defaults

 

 

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