There is a report on News24 that magistrates are to be trained in “debt counselling on Sunday as part of efforts to clear up bottlenecks in the debt review system, the National Credit Regulator (NCR).”
The report goes on to quote Paul Slot, Octogen director and debt counsellor and member of the Debt Review Task Team, saying:
“….a methodology and standard is needed to guide the process. He cited the necessity for a rapport based on trust between parties involved in the debt review as crucial. ‘We need a methodology where the credit …

David Carte reports on Moneyweb :
“Banks and credit providers have R30bn of money owed to them by 180 000 debtors frozen under debt counseling arrangements under the National Credit Act.
The number of people under debt counseling rises by 7 500 a month, says outgoing National Credit Regulator CEO Gabriel Davel.
The positive angle is that banks and credit providers are receiving R180m a month or R2.2bn a year from these debtors under debt review.
Once a debt counselor is appointed in terms of the National Credit Act, the banks cannot move against …

Moneyweb reports that Gabriel Davel will step down as the CEO of the National Credit Regulator, the governing body of the National Credit Act. Apparently Davel will step down from the 1st Janaury 2011. Davel has proved a very proactive CEO, appointed since the inception of the office of the National Credit Regulator in 2006. However the one thing that Davel has not succeed in doing is getting the badly needed amendment of the National Credit Act (see the article here) and this something that we certainly hope any new …

We found an interesting introductory article on the concept of risk based pricing from what seems to be an ex pat South African, Brandan Le Grange, who works for Experian in Scandinavia and is credit risk professional:
“….Risk based pricing strategies seek to assign a fair price to each customer – or, more accurately, to each group of customers.  The measured difference in risk between each customer is used to assign differentiated prices.  The logic is that operationally every customer costs the same to service, it is only the cost of risk …

”A leader takes people where they want to go. A great leader takes people where they don’t necessarily want to go, but ought to be.”
- Rosalynn Carte

We picked up the following short comment on World Credit Management, Collections and Risk Forum on Linkedin.com by Abe Walking Bear Sanchez, the President of  American company A/R Management Group, Inc., a consulting and training company specializing in credit and collections as a profit center.
“Forget the traditional organization chart with branches that in turn branch off and so on. Instead of organizational charts think of totem poles…the carved columns erected by the Native Americans of the Pacific Coast. Totem poles are representations of men and animals and of their relationship.
Now forget about corporate …

In a National Credit Regulator press release:
‘In a further boost for consumer rights, the Free State High Court has ruled in favour of the National Credit Regulator (NCR) in its case against Brusson Finance (Pty) Ltd, a company which used the so-called “reverse mortgage“ system of money lending which resulted in a number of consumers loosing their homes.
The NCR instituted proceedings in the Free State High Court, together with two borrowers, Mr and Ms Ditshego, who had lost their home to the scheme, against Brusson.
This was as a result of receiving various complaints from …

Stats SA released the Company and Close Corporation liquidation statistics up to the end of June 2010. The continuing upward trend in liquidations is illustrated by the graph above.
The total number of liquidations recorded for the first six months of 2010 increased by 5,8% (from 1 951 to 2 065) compared with the first six months of 2009. The total number of liquidations recorded for June 2010 increased by 21,9% (from 311 to 379) compared with June 2009 .
This 5,8% increase in the total number of liquidations for the first six months …

Business Day reports that an amended version of the new Companies Act , which had been botched by the Department of Trade and Industry was published on the 28th July 2010.
Sanchia Temkin for Business Day:
“…..(the DTI) released the latest copy of the amended Companies Act, which has addressed significant grammatical errors and concerns about flaws in the legislation.
However, company law experts said yesterday that the Companies Act of 2008 had been “commercially flawed” and a “source of embarrassment” to start with.
“A series of grammatical errors and typos was used …