Regulatory Alerts2019-10-24
Added · Updated
Circular 07 of 2019: Updates to the Debt Counselling Rule System
The Debt Counselling Rule System implemented changes in April 2019, including the creation of a “Z” file for debt counsellors to assess client affordability without generating a formal proposal and extended term options for Vehicle and Asset Finance accounts with balloon balances. An upcoming update scheduled for November 2019 will enable interest calculation from the Certificate of Balance date to the proposal start date to minimize end-balance discrepancies. Debt counsellors are required to ensure their system providers implement these functional updates to align with the Task Team Agreement concession rules.
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