Prescribed Debt Can No Longer Be Touched
The National Credit Amendment Bill’s new legislation will make the collection of prescribed debt illegal.
This amendment was brought on by the Parliament’s recognition of the abuse that was taking place toward over-indebted consumers. Paul Slot, president of the Debt Counsellors Association of South Africa (DCASA), explains that prior to this legislation it was legal to collect prescribed debt. Leading to debt collectors using devious ways and intimidation to get over-indebted consumers to pay their prescribed debt, with interest.