Debt & Your Rights

Make Informed decisions by understanding your rights and options when dealing with debt.

This guide will walk you through essential information about managing debt and protecting your rights.

Prescription

Prescription is a legal rule In terms of Section 126B of the National Credit Act that effectively cancels a debt if it isn't claimed within a certain time period, usually 3 years.

This rule applies if the debtor hasn't admitted to owing the money during that time or hasn’t made payment on the debt.

However, if the debtor acknowledges the debt or makes a payment within this period, the clock resets. The new period begins from the date of acknowledgment or payment.

If you think your debt with us has been prescribed under this rule, please contact us at helpdesk@dmc.co.za, or fill in the contact form below, and we will review your case.

If your claim is valid, we will write off the debt. If it is not, you will still owe the debt, but our consultants can help you with manageable repayment options.

Debt Review

Debt review, also known as debt counselling, is a formal process in South Africa under the National Credit Act, aimed at helping individuals struggling with debt to avoid legal repercussions like asset repossession.

Consumers who are unable to meet their debt obligations can apply to a registered debt counsellor, who evaluates their financial situation. If the consumer is deemed over-indebted, the counsellor notifies creditors and credit bureaus, protecting the consumer from legal action and preventing them from acquiring new credit during the process.

The debt counsellor then negotiates with creditors to restructure the consumer's debt, typically through reduced payments by extending loan terms or lowering interest rates. The new repayment plan is formalized through a court or consent order, giving it legal authority.

Payments are made through a payment distribution agency, and upon completion of the restructured debt, the consumer is issued a clearance certificate and removed from debt review.

Credit Bureau

Credit bureaus are crucial for the credit industry and South Africa's economy.

Before lending money, credit providers must check a potential borrower's payment obligations by reviewing their records from the credit bureau. This helps determine how much more the consumer can afford to borrow.

All credit providers must submit regular updates on consumer payment information to the credit bureaus. This is mandatory for all credit providers, and we have no choice but to provide certain information to the bureaus regularly.

As a consumer, you have the right to access and challenge/dispute any information a credit bureau has.

If you have any complaints regarding your credit information, please get in touch with one of our consultants at helpdesk@dmc.co.za, or fill in the contact form below.

If you are unhappy with how we have resolved your credit information complaint you can contact any of the registered credit bureaus and log a formal dispute directly with the bureaus.

POPIA

The right to privacy is an integral human right recognized and protected in the South African Constitution and the Protection of Personal Information Act 4 of 2013 (“POPIA” or “the Act’)

The purpose of POPIA is to promote the protection of personal information processed by public and private bodies. The Act requires that personal information be processed only for specific, explicitly defined, and legitimate purposes.

We will at all times whilst processing your personal information abide by and comply with the relevant provisions of the Protection of Personal Information Act, for information about how we process your personal information and details about how to log a complaint about the processing of your personal information please see our Information Protection Policy

If you have any questions regarding how we process your personal information please click the link below and view our POPIA Policy or contact us using the below details.

Ombudsman

The National Financial Ombud Scheme (NFO) is an independent body that resolves complaints brought by consumers against South African financial institutions.

If you have any questions or queries regarding your account, please feel free to contact us at helpdesk@dmc.co.za. We are here to help and will do our best to resolve your query.

Should we be unable to resolve your complaint satisfactorily, you may contact the National Financial Ombud Scheme.

National Financial Ombud Scheme can be contacted at:

PASA

The Payments Association of South Africa (PASA) is the governing body that regulates payment systems in South Africa. PASA is authorised by the South African Reserve Bank to regulate, monitor and control payment systems in South Africa and to ensure that all transactions are secure and effective.

As PASA members, DMC is subject to the PASA Code of Conduct, which sets out the standards and requirements for the collection of debt in South Africa. We are committed to providing the highest standards of service and compliance.