The NDMA is a not for profit organisation, established by the credit industry to
provide debt mediation services in terms of the Credit Industry Code of Conduct
to Combat Over indebtedness that has been approved by the National Credit Regulator.
The services include general debt management advice, complaints and debt mediation
for consumers and their credit providers.
The advice and debt mediation services offered by the NDMA revolve around the following
key areas:
|
•
|
Self Help tools for consumers to assess their level of over indebtedness;
|
|
|
•
|
Guidelines on the legal and voluntary industry debt restructuring options that are
available to consumers, including their pros and cons;
|
|
|
•
|
Who to go to for help
|
|
|
•
|
The do’s and don’ts of credit usage, budgeting, and avoiding the debt
spiral
|
|
|
•
|
Mediation of complaints against NDMA members with regards to the handling of debt
review applications in terms of the Code of Conduct as well as requests for debt
restructuring pre and post the issuing of section 129 letters.
|
|
|
How does it work?
Through negotiated agreements captured in the Industry Code of Conduct, eligible
over-indebted consumers can now take advantage of significant concessions, beyond
what is required by the law to resolve their over indebtedness. The voluntary concession
is an option available to the consumer through their registered debt counsellor.
The industry concession offers interest and fee reductions as well as term extension
in order to ensure that the consumer rehabilitates within 60 months.
For a detailed explanation of the industry debt restructuring rules click here. For a list of NCR-registered
debt counsellors in your region, click here, alternatively you can call the NCR on 011 554 2600 or 0860
627 627
|
|
|
|
|
|
|