WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-09-09 Time: 10:00:01 Posted By: News Poster
By Michael Bleby
Johannesburg – The campaign, which will run until December, encourages people to seek help from their bank first before going into the formal debt review process, and suggests a bigger role for banks, which have long sparred with the regulator over process. The debt review system established by the National Credit Act in July 2007 has been plagued by disagreement, largely between lenders and the regulator about process.
The campaign also targets the 57 000 consumers who are already in the debt review process and making payments. Consumers may be paying, but may not be doing so under an agreed regime that has the consent of creditors or a court.
A review of the system completed in July laid out commonly agreed rules between banks, the regulator and debt counsellors and has eased much of the disagreement. However, the formal system is still insufficient to cope with demand. The campaign will see banks, which have not liked having to give up control over bad- debt management, become the first point of call for people with debt problems.
“As a starting point we would like to invite debt-stressed consumers to contact banks when it comes to dealing with over- indebtedness before applying for debt counselling and preferably before actually defaulting,” said African Bank’s Johan de Ridder. “If you can get an agreement there, that would be first prize.”
It makes sense for banks, which account for 90% of SA’s total gross debtors’ book of R1,14-trillion, to play a leading role in renegotiating bad debt. In addition, backlogs are holding up the formal system.
At least one-third “and maybe more” of the 1800-odd registered debt counsellors are not active, Debt Counselling Association of SA spokesman Paul Slot said. Of the 190 000-odd people that have applied for the formal debt review process, only about 100 000 remain under debt counselling.
Original Source: 
Original date published: 9 September 2010
Source: http://allafrica.com/stories/201009090502.html?viewall=1