Beware of unsolicited calls from people offering to reduce your instalments to your creditors. This is the lure used by some unscrupulous debt counsellors to get consumers into debt counselling.
Some consumers have found themselves in debt counselling when they never opted – or consented – to go into it and are then swindled into paying “cancellation fees” in order to be released from it.
This issue was first exposed by Checkpoint, an investigative TV programme broadcast by eNCA. In February, a Checkpoint insert titled Debt Trap highlighted cases of consumers who discovered they are in debt counselling, despite never having applied for this.
One of them was Ronald Mosue, who complained to the National Credit Regulator (NCR) in August about MSA Consultants. He told Checkpoint the NCR asked him for proof that he paid MSA Consultants to take him out of debt review but had, seven months later, not heard back from the regulator.