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By law, all debt collectors must register with the Council for Debt Collectors in order to operate. Failure to register before collecting a debt is a criminal offence. A debt collector can register on Council for Debt Collectors website, www.cfdc.org.za.
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The Council monitors the actions of debt collectors ensuring that their actions comply with the code of conduct for debt collectors and further ensuring that they charge only those fees allowed by the Act.
How to know if a debt collector is registered
All debt collectors must produce proof of registration, on request. A debtor has the right to request confirmation of proof of registration with the CFDC, which the respective debt collector must produce. Should anyone be in doubt, they may contact us on email at info@cfdc.org.za or telephonically on (012) 804 9808. You can search online whether a debt collector is registered on CFFC Website https://www.cfdc.org.za/active-register/
What to do when a debt collector contacts you
Only registered debt collectors can legally collect outstanding debts. Begin by requesting the following information:
- The full identity of the debt collector and the company, as well as proof of registration with the Council for Debt Collectors (CFDC).
- The name of the original creditor you owe, what the debt is for, and when it was incurred.
- The total amount of the capital debt including the interest and collection costs.
- Do not share your personal and financial information such as your bank details or ID number over the telephone.
- Do not avoid communication from a registered debt collector, be cooperative so that you can make a proper arrangement towards paying your debt/s.
What to do if you have a complaint against a debt collector
- All complaints must be in writing and under oath.
- Complaints can be electronically submitted through the website.
- Visit our website, www.cfdc.org.za and submit your complaint. Alternatively, email info@cfdc.org.za or call us on (012) 804 9808.
How to register as a debt collector
An application for registration as a debt collector must be lodged with the Council on the prescribed form and must be accompanied by the registration fee and annual subscription fee prescribed by Regulation.
No application will be finalized if the proof of payment is not attached. Should his or her application be unsuccessful the annual subscription fee will be refunded but the registration fee will be forfeited. In cases where the subscription fee is not paid at the time the application to be registered is lodged, the registration will be suspended.
The following documents must be attached to the application:
- A copy of the applicant’s identity document;
- A letter from the bank indicating that a trust account has been opened in terms of section 20(1) of the Debt Collectors Act,1998 (Act 114 of 1998)
- Letter from an auditor in respect of the Trust Account.
- Proof of payment of the registration fees and annual subscription fees applicable. In the case of new companies or close corporations who want to register, the following documents must also be attached to the application:
- CM 29 OR COR 14.3 in respect of a Company; or • CK 1 or CK 2 in respect of Close Corporations.