Notice of Intention to Withdraw the Reckless Lending Fee Category from the Debt Counselling Fee Guideline

CIRCULAR 05 OF 2018 The National Credit Regulator (NCR) hereby gives notice of its intention to withdraw the reckless lending fee category from the Debt Counselling Fee Guideline. Information obtained by the NCR since the revised Debt Counselling Fee Guideline came into effect has revealed that the reckless lending fee is being abused by debt counsellors and charged to consumers inappropriately. To get inputs from the industry, the NCR will in due course publish a notice in the Government Gazette with details on where written submissions should be channelled. A further Circular will be issued to the industry by the NCR on the developments around the publication of this notice in the Government Gazette. Any queries should be directed to the following NCR officials: Morris Maluleke mmaluleke@ncr.org.za or 011 554 2789 Sibusiso Nhangombe snhangombe@ncr.org.za or 011 554 2728 Tshepa Molefi tmolefi@ncr.org.za or 011 554 2627 Pule Songo psongo@ncr.org.za or 011 554 2655 Georgina Kgadima gkgadima@ncr.org.za or 011 554 2896 Mmadikwa Phoshoko mphoshoko@ncr.org.za or 011 554 2659

Notice of Intention to withdraw the Reckless Lending Fee Category from the Debt Counselling Fee Guideline 1 Disclaimer: While the NCR has taken reasonable care to ensure the factual accuracy of this circular, it cannot guarantee such accuracy especially with regards to future events. Accordingly, NCR does not accept any liability for damages incurred by any party as a result of decisions or actions taken on the basis of information supplied in this Circular. Number 05 | September 2018