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Industry News
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The NCR runs a group forum called the Credit Industry Forum (CIF) which meets to discuss and try find solutions to common industry issues.
For some time recently the CIF has been out of commission. This has caused some issues to persist that could perhaps have been sorted out sooner. Many were concerned that the meetings were not happening.
Now, CIF is back.
MArch Meeting
During March the CIF met once again to carry on work about various challenges in the debt review space.
The meeting was chaired by the NCR’s Kedilatile Legodi. Representatives from  The Banking Association of South Africa (BASA), the Credit Bureau Association (CBA), the National Debt Counsellors Association (NDCA), the Debt Counsellors Association of South Africa (DCASA), the Debt Counsellors Collective, the PDA Association of South Africa (PDASA), Consumer Friend, Lewis Group, and Micro Finance South Africa (MFSA) all attended along with several other interested parties.
The NCR gave some updates and new appointments made over the last year during the pandemic and shared how they are dealing with their workload and any backlogs.
Due to the NCR’s constraints, it was announced that the CIF will only be able to focus on 3 (sub) committees or topics at a time.
But…what to Discuss?
So, the group chatted and it was decided to focus on DCRS (debt repayment plan calculation software that can be used to come up with repayment options), discussing the fee structure used by most Debt Counsellors and either:
(1) the 2009 task team and getting everyone to use the proposals
or
(2) a proposal by the Credit Bureau Association aimed at speeding up workflow.
Members will submit their choice of the 3rd topic and then work will begin on whichever is chosen by the majority.
‘Those who attended were happy to see progress starting to be made on these important issues’
Those who attended were happy to see progress starting to be made on these important issues and, though disappointed that more cannot be done simultaneously, they were glad to see the CIF back up and running.
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