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Prescribed Debt Can No Longer Be Touched – Justmoney

Prescribed Debt Can No Longer Be Touched – Justmoney

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.

In this Justmoney article Wikus Olivier, debt counsellor at Debtsafe, explains what this legislation means for the consumer and how it influences affordability assessments.

Read the full article on Justmoney here.