If you think the signing in of the debt relief bill means your debt woes will soon be over, think again. Maya (@mayaonmoney) and Mapalo (@womanandfinance) look at the implications of the so-called debt relief bill both for consumers and credit providers.
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Good podcast. Thank you very much. A useful tool for a Debt Counsellor to inform consumers. One issue has not been discussed: NCT has the status of the High Court, default is an offence ito section 160(1) of the NCA. A fine ito sectio 161 or jail term of no more than 10 years or both applies. A further issue is in the Debt Relief Bill lying about your income is also an offence ito section 157 and section 160(1) will apply. Fine or jail time of no more than 2 years or both may apply.
Thanks Renee – good points