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Always ask for the certificate
Debt counselors and loan providers are all registered with the N.national C.returns R.egulator (NCR). During this process, the NCR receives all sorts of important information about them and pays a registration fee.
Why have certificates?
The NCR issues a certificate to each of them to prove they are registered so that consumers can be confident that they are dealing with legitimate practices and vendors.
“So that consumers can be confident that they are dealing with legitimate practices and vendors”
Whenever you are getting credit or seeking advice about debt, you can always get the loan provider or the debt advisor’s certificate.
The certificate has an NCR reference code such as:
NCRDC(Number) for a debt counselor or
NCRCP(Number) for a lender or
NCRPDA(Number) for a payment distribution center.
If they don’t have one
If they don’t have one or whether the one they show you looks like or who emails you (or WhatsApp etc) suspicious then it is probably a good idea to consider another supplier. This is a strong indicator that you are dealing with an illegal loan shark from a loan provider or a debt brokerage scam. Better to find a legitimate supplier.
The NCR maintains an online register of all these persons and service providers on its website: www.ncr.org.za. The NCR tries to keep this register updated.
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