All debt counsellors are restricted by a code of conduct prescribed by the National Credit Regulator, or NCR. A full copy of the code of conduct can be viewed on www.ncr.co.za
The code is set in place to protect consumers who suffer from over-indebtedness by providing with them with experts who can help with over-indebtedness. Aside from laying out provision and rules for debt counsellors under the National Credit Act 34 of 2005, it also makes provision for voluntary efforts that will work in unison wit the National Credit Act. The aim is to facilitate the speedy and effective closing of debt review cases.
All debt counsellors subscribe to this code and it is binding. The code of conduct dictates the commitments of debt counsellors, including fair practice, marketing and the instances where a debt counsellor may decline and application for debt review. It is strongly affiliated with the DCASA, who assists with the enforcement of the code.
The code came into effect on 1 January 2011 and is up for review by all debt collection bodies every five years in order to streamline the debt collection profession and create a fair credit and trade environment.
Article written by: Andrea van Tonder 02-2013