MEDIA RELEASE National Credit Regulator: Debt Relief

The National Credit Regulator warns against false information on the National Credit Amendment Act relating to “Debt Intervention”

The National Credit Regulator (NCR) strongly condemns scams, which are mainly via online platforms and are aimed at deceiving consumers about debt intervention, which is a measure intended to assist debt stressed consumers, says Anne-Carien Du Plooy, Manager: Debt Intervention at the NCR.

Although, the National Credit Amendment Act (the Act) was signed into law, it is not yet in operation and await an implementation date to be promulgated. This simply means that it is currently not in effect, stressed Du Plooy.

The NCR has discovered several online scams, such as “ask.auntykaryn.co.za” which direct consumers to apply to certain companies in order to qualify for their debts to be written off under debt intervention. This is incorrect and misleading!

It has to be emphasized that consumers will only be assisted for debt intervention once the Act has been promulgated by the President. Consumers should beware these scams and avoid falling victims to them, she says.

Du Plooy