Interest and the NCA

Are you running the risk of being fined for the incorrect interest calculation applied by your software? With the implementation of the National Credit Act in 2006, came a different manner of calculating interest on outstanding balances of debtors. Gone were the days...

What? Interest on Interest?!

The National Credit Act has brought about a number of changes to the legislation governing debt, credit granting and the recovery of outstanding debt in South Africa. The changes brought about by the National Credit Act have been the subject of many debates across the...

The In Duplum Rule Risk

Can you survive the effects of incorrectly applying the In Duplum Rule? Everyone in the Credit- and Debt Collection Industry is aware of the In Duplum Rule and knows that it is a cardinal sin to contravene it. However, very few people really understand the true...

Collection Com vs. Contingency Fees

Does your software separate the financial transactions of the debtor from the client effectively per file? Contingency Commissions are different to Collection Commission. Charging contingency commission is only allowed if you deduct it from the amount owing to the...

Fees you should not be charging

Are you over-charging or charging fees that are not allowed? In the same way as a plumber knows what he charges for a call-out fee or for a replacement of a tap, every debt collector should know what they are entitled to charge for the services they deliver. One...