• Phone 021 202 7043
  • info@africandebtadvisors.co.za
  • 3 Hans Strijdom Lane, Cape Town

Debt Mediation

Debt Mediation

In 2013, a new debt relief process was introduced, namely the Voluntary Debt Mediation Solution (VDMS). Similarly, debt review is a debt relief process, but the VDMS has been found to be problematic in a number of ways.

The National Credit Regulator (NCR) does not approve of debt mediation, as it violates the regulations of the National Credit Act (NCA). Furthermore, debt mediation does not provide consumers with protection against the repossession of their assets or having unlawful garnishee orders attached to their salaries.