Debt counsellors are calling for an amendment to legislation which would widen their sphere of operation, and provide major boost to the economy.
They're arguing that the National Credit Act (NCA) should be changed by the government to allow debt counsellors to restructure debt in other categories.
According to legislation, certain debt doesn't fall within the mandate of the NCA, which means debt counsellors cannot negotiate on their behalf to get a payment mechanism in place.
Examples of these types of debts would be unpaid municipal, levies owed to body corporates, medical practices and private schools.
According to the National Debt Counsellors Association, the South African economy might benefit from this to the tune of R25 billion.
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