Why are South Africans battling to pay their Debts

2019-08-30T14:30:03+00:00August 20th, 2019|credit control, debt collection, ECCM|

Reports from Consumer Credit Agencies such as TransUnion South Africahas revealed that Consumer Demand for credit remains high. Outstanding balances are increasing to the previous year comparisons, regardless of the credit categories.  Borrowing Levels are likely driven by the current challenging economic conditions to assist with the day-to-day expenses, there are however still larger purchases being made across most South Africans. As the Household income growth appears to be weak it has been put increased strain on household finances during this volatile economic conditions.  This

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How to avoid being served for debt

2019-08-30T13:40:43+00:00August 16th, 2019|commercial collections, consumer collections, debt collection, debt collection agencies, debt collection agency, debt collector, ECCM, medical collections, pre-collection|

The National Credit Act allows you to initiate legal proceedings as little as 20 days after you have defaulted on your Debt. To ensure you do not get Summonsed pay your monthly obligations, if you aren't able to do so ensure to make an arrangement with the Credit provider. There are however correct channels that have to be followed, such as:- Credit Providers have to notify consumers on the intent of legal proceedings prior to doing so, as per Section 129 of the National

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What happens to your Debt when you Pass Away

2019-08-30T12:08:24+00:00August 12th, 2019|credit control, debt collection, ECCM|

If you leave any debts behind when you die, it can eat up your assets that you had anticipated to leave to heirs. A lot of the time, some family members could be on the hook for your debt. Most of the people take out life insurance to not only make sure there is something left after they passed on for their loved ones but to also help deal with any financial expenses or debt. The debt you had will become the estate you

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5 Things a Debt Collector can and Can’t do

2019-08-30T11:33:25+00:00August 9th, 2019|debt collection, debt collection agencies, debt collection agency, debt collector|

Five things Debt Collectors Can’t Do and Five things they can do. 5 Things Debt collectors Can’t do: Use Force or Threaten you or your family Serve false legal documentation Present themselves as an Officer of the Court, Sheriff and/or Police Officer Spread, or threaten to spread, any false information about your credit worthiness Charge more than the fees set down by the Council (They need to be registered with Debt Collectors Council) 5 Things Debt collectors CAN do: They can request that you

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Myths about Debt Collection

2019-08-12T15:21:15+00:00August 7th, 2019|commercial collections, consumer collections, credit control, Credit Control Management, debt collection, debt collection agencies, debt collection agency, debt collector, ECCM, medical collections, pre-collection|

Statistics that have been compiled as recently as 2015 show that consumers in South Africa owe debt of up to 75% of their monthly income to their creditors. And more than half of 19 million active credit customers are in payment arrears of 3 months or more. With numbers like this you can be sure that debt collection is an industry that will keep on growing, which means it’s creating lots of new job and career opportunities for young South Africans. Already, there are over

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The Debt Collection Act

2019-08-12T15:24:36+00:00August 5th, 2019|debt collection, debt collection agencies, debt collection agency, debt collector, ECCM|

The Debt Collection  Act is government legislation that offers consumer protection from illegal and unethical tactics by the debt collection services. The Council for Debt Collectors has, under section 14 of the Debt Collectors Act, 1998 (Act No. 114 of 1998), with the approval of the Minister of Justice and Constitutional development, adopt a code of conduct in the Schedule. Under the DCA, a debt collector is not permitted to do the following: Call you an unreasonable amount of times, before 8 am or

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What Does the Debt Collection Process consist of?

2019-08-12T11:55:08+00:00July 24th, 2019|commercial collections, consumer collections, credit control, Credit Control Management, debt collection, debt collection agencies, debt collection agency, debt collector, ECCM, medical collections, pre-collection|

The process of Credit Control Management contains of 5 steps that need to be taken. Letter Of Demand Summons Default Judgment Execution Emoluments Attachment order Letter of demands sets out the cause of action on which the demand is based. And will give the other party time to comply with the demand. Once the Summons process has commenced, this sets the required action in place to ensure that there is control in place to ensure the collection will be effective.  A summons informs a

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Basic Debt Collection Techniques

2019-08-12T09:09:35+00:00July 22nd, 2019|commercial collections, consumer collections, credit control, Credit Control Management, debt collection, debt collection agencies, debt collection agency, debt collector, ECCM, medical collections, pre-collection|

Basic Debt collection Techniques are effective and can save you money, time & stress. Bad Debt can threaten the survival of a Small / Medium and/or Large Business if not effectively dealt with. When your Debt Collection Techniques do not work effectively, don’t waste time and consider a collection agency. Collection agency fees can be expensive and frequently require large, upfront fees prior to beginning any collection efforts. However we don’t have fees unless we collect, and we have affordable rates. To help you

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