Credit industry launches its version of the Oscars

AS ONE of the “leading countries in the world in dealing with the whole issue around debt”‚ it should come as no surprise that SA’s debt counselling industry has its own awards ceremony.

The Debt Review Awards — “the credit industry’s version of the Oscars” — will see experts and members of the public vote for the debt counsellor or debt counselling firm that they think provided the best service during the year.

Debt Rescue CEO Neil Roets said: “We all work incredibly hard during the year to provide the best quality service to our clients and the debt counselling awards recognise those of us who have gone above and beyond the call of duty.”

Mr Roets said the fact that total consumer debt now topped R1.427-trillion showed that consumers were having a hard time‚ and debt counselling “has become the most important tool for deeply indebted consumers to restructure” what they owe.

“Debt review is an absolute win-win situation for both consumers and creditors‚” he said.

“Creditors are getting paid, albeit over a longer period and in smaller instalments, and indebted consumers are able to service their debt and still afford to get on with their lives.”

The awards are sponsored by a number of the major banks‚ and supported by the National Credit Regulator‚ as well as the Department of Trade and Industry.

Voting on is expected to open in two weeks’ time and will close on May 24.

The awards ceremony will take place at the Midrand Conference Centre on June 13.

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