Regulatory Alerts2018-10-08
Added · Updated
Circular 06 of 2018 - Request for written comments - reckless lending fee category
The National Credit Regulator proposes withdrawing the reckless lending fee category from the Debt Counselling Fee Guideline and amending the restructuring fee category. The proposed restructuring fee is capped at R 8,000 for single applications and R 9,000 for joint applications, payable in Month 1 after proposal submission. Debt counsellors must refund 100% of the restructuring fee if proposals are not submitted to credit providers or referred to the National Consumer Tribunal or Magistrate Court within 60 business days. Written comments on these changes are requested by 31 October 2018.
Topics
Share