While the new developments apply to consumers under debt review, PDAs might be out of business due to the disruption to payment distributions to creditors.
Payment distribution agents (PDA) will be affected by consumers who request banks to reverse legitimate payments to credit providers.
702’s Stephen Grootes spoke to CEO of Debt Rescue, Neil Roets, who said that this would cause further problems for consumers under credit stress.
The pity is that debt counselling is there to help people who are over-indebted and now people are going further in looking for loopholes.
— Neil Roets, CEO of Debt Rescue