Debt Review Awards highlights those in the industry who set the bar high
The debt review industry is one that is often subject to criticism and stigmatism – which is very unfortunate, when you consider that thousands of consumers have received outstanding service and guidance from reputable debt counsellors, followed the process, and are now debt-free.
As a result of the guilt and shame experienced by those who find themselves in a bad financial situation, we rarely hear of these success stories. Yet they are happening – and those debt counselling practices that are giving their all to their clients and the industry, are recognised by the annual Debt Review Awards.
Through this process, the best debt counsellors in the industry are identified and compete for the ultimate top spots, which are announced during the online Debt Review Awards show.
In 2020, National Debt Advisors (NDA) took home top honours as the best debt counselling practice in the country. NDA CEO Sebastien Alexanderson, says: “The Debt Review Awards was initiated in 2014; the same year that NDA was formed – giving us something to aspire to.
“Debt counselling sometimes receives criticism, often based on negligent debt counsellors – yet there are so many credible, qualified and registered debt counsellors, who do care.
“The Debt Review Awards highlights the practices that empower consumers to gain financial freedom. Debt review may not be the solution for everyone, but it has proven to be a viable option to those who are overwhelmed by their debt burden. The industry is working hard to ensure that the process of debt review helps, rather than hinders, vulnerable South African consumers.”
Alexanderson goes on to say “Everyone wants to be in the top spot – and I cannot adequately describe to you what it meant when NDA was voted the number one debt counselling practice in South Africa at the 2020 Debt Review Awards. As a company, we have spent years working towards that recognition, and will continue to do so – irrespective of the outcome of this year’s awards.”
At present, there are 1748 different debt counsellors registered with the National Credit Regulator. The top 10 debt counselling practices, in five different size categories, have already been announced. These are the practices (from smaller one person operations, all the way up to a national operation with multiple debt counsellors working together) that have stood out over the last 12 months. This short list of 50 debt counsellors places these practices in a league of their own.
As part of the feedback criteria, credit providers are asked to assess debt counsellors in terms of turnaround times, customer service, the handling of queries and the quality of the proposals and court orders.
Awards founder and editor of Debtfree magazine, Mr Zak King, sees these awards as a step in the right direction for those consumers who need help.
“Debt counselling is a process that has helped many people to cope, during the hardest times in their lives. Financially distressed consumers need help with tackling their debt, but are unsure where to turn – because, like with any industry, you get good and bad practitioners. The Debt Review Awards helps to identify some of the finest practices in the industry and can be a trusted guide for consumers who are struggling to choose a debt counsellor.”
Debt counsellors also have the opportunity to review their industry counterparts. The top performing credit providers as well as Payment Distribution Agencies (PDAs) will also be announced during the online show.
Visit www.debtreviewawards.co.za for more information. The public is invited to watch the Debt Review Awards, which will be live streamed on YouTube on Friday 10 September from 14h00 – 16h00.