Towards the end of 2012, the Banking Association of South Africa and the Minister of Finance reached an agreement to suspend the use of emolument attachment orders (‘EAO’) with a view to curbing the irresponsible collection of debt. This agreement was not legally binding and many entities continued to use this methodology to collect outstanding … Continue reading Debt collection industry gets well deserved kick up the backside
Tag: debt collection
The debt collection industry is rife with fraud and abuse
I am not the first, nor I suspect the last, that will testify to the fact that the debt collection industry in South Africa is in a total mess. Moneyweband ENCAhave both reported extensively on the topic. Unfortunately, and the powerful National Credit Act notwithstanding, thousands of individuals continue to be exploited via fraudulently obtained … Continue reading The debt collection industry is rife with fraud and abuse
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