National Assembly: Cape Town, 9th June 2011
Allegations have recently emerged of the practices
of some very unscrupulous debt counsellors and payment distribution
agencies, who have allegedly been skimming millions of Rands per
month from people under the debt review, in terms of our National
It is alleged that these debt counsellors are
receiving monthly payments from debtors, but instead of immediately
disbursing the money to creditors, they are instead holding onto the
funds for up to two weeks in their own interest bearing accounts.
Interest on monies paid in good faith by debtors, is said to be in
the region of 6.5 million Rands per month, nationally.
These actions border on criminal conduct. We are
therefore very pleased to see that Minister of Trade and Industry is
considering appointing a Commission to investigate this matter. We
urge the Minister to take swift action.
I thank you.