Where has the time gone? Standard Bank Debt review newsletter Third Edition – December 2018
With each year that passes, it feels like time goes by faster than it did the year before. Although we faced many changes & challenges this year, we are so pleased with the progress we have made & the many things we have achieved. We look forward to 2019 & all it has in store for us.
We share mutual customers and therefore we share a mutual responsibility to ensure that our customers are educated about debt review and the process. We are very excited to announce that in 2019 we will be launching a customer information pack that will be provided to our customers when they enter debt review & a different information pack will be provided to them upon their exit from the process. These packs will include important information that our customers can utilize throughout the debt review process as well as when they re-enter the credit market.
Whilst we are still in the process of finalizing our customer information packs, we kindly request that you continue to assist in educating customers on the debt review process & what it entails when they have made the decision to be part of this programme. Please inform customers that when entering the debt review process we will no longer be able to extend credit to them & therefore instances such as the reduction or removal of credit limits & accounts being stopped will occur without prior notification to the customer. We often find customers sharing with us that they are not aware of this.
This year we have dealt many queries regarding customers that would like to exit debt review. Kindly be advised that when requesting an exit all requests must adhere to the withdrawal guidelines which are prescribed by the NCR. In saying that, please take note of the following:
- Clearly annotate on the Form 19 / Clearance certificate which accounts have been settled or is up to date
- A From 17.4 exit document will only be accepted if it is dated prior to 19 February 2015
- When providing a divorce decree, we kindly request for the joint profile to be separated with supporting Form 17.1 documents provided for each customer. Kindly note that we are unable to exit a customer on receipt of a divorce decree.
Effective communication between our office & yours means that having your updated contact details is a priority to us. When there has been a change to your contact details, please don’t forget to update it directly with the National Credit Regulator so that your details on their website can be changed. You may also send us notification of your change of contact details so that we can update it on our records. Ensuring that your details are always updated will ensure that we can easily reach you & that notifications are sent to the correct office.
Please remember that when sending an email to the following mailboxes DRApplications@standardbank.co.za, DRLegal@standardbank.co.za please ensure that all the information that you require us to receive is provided on a pdf attachment as our system is unable to read content in the body of the email.
We wish you and your family a Merry Christmas & a Happy New Year! Should you be traveling for the holiday, we wish you safe journey mercies. We look forward to collaborating again with you in 2019.
Since the implementation of Debt Review many customers have entered and exited the Debt Review process. There are however many matters where court applications have been received from debt counsellors, however no court orders or withdrawals have been forthcoming.
Standard Bank Debt Review is asking for your participation in providing feedback on pending court matters. If contacted via email from one of our consultants our request is that you provide us with the court outcomes as well as supporting documentation to allow us to process the matter as soon as possible.
Benefits of proving feedback and documentation
- Will ensure that the customer’s accounts are restructured as soon as possible
- Accounts that are not restructured accumulate arrear interest which increases the outstanding balance
- Avoid future balance disputes
- Avoid termination disputes & reinstatement requests
- Avoid legal action & wasted legal costs
- Avoid phone calls from external collectors
To the many debt counsellors who have already assisted and participated in this process, we thank you!
With reinstatement requests being one of our highest volume drivers we have noted some tips which we would like to remind you of:
When feedback is provided to the reinstatement request & options are provided, we often times do not receive the necessary feedback. Without the required feedback, the query can therefore not be concluded & the account will remain outside of debt review. Please also provide us with feedback as to the payment of the arrears as this is often times a requirement in order to have an account reinstated.
Feedback needs to be provided within stipulated time as the proposal is only valid for this limited time period.
Numerous Officers from one debt counselling firm sending multiple requests for reinstatement for the same account. This is a duplication of efforts & we request that you confirm with the rest of your team if a reinstatement query has already been submitted to us.
Please conduct your own investigation before requesting for a reinstatement of an account as often times we receive proof of payments provided by you with insufficient or no payment reflecting, however the email content is confirming the client has not missed a payment and is paying in line with the agreement.
Please remember the above tips when requesting that we consider reinstating an account under debt review. All such requests should be forwarded to our Service Fulfillment Team (DebtReviewServices@standardbank.co.za).
*Debt Review documents: Form 17.1; Form 17.2; Proposals; Court Applications; Court Orders
**Debt Review Admin related requests: refunds; paid up letters; account closure instructions; settlement balances; or outstanding balances, payment reversals, debit order cancellations, requests for statements
Please ensure that you send your request / query to the correct mailbox and refrain from sending emails to multiple email addresses.
Credit Card: 0861 112 807
Diners Club: 0113588400 / 0860346377
Vehicle Asset Finance Recoveries: Cheques and Loans: 0861 102 347
Home Loans Pre-Legal: 0861 498 468 (option 1)
Home Loans Customer Service: 0860 102 270
Standard Bank Insurance: 0860 123 001
Deceased Estates: 0860 439 770 (option 1)
Insolvency: 0860 439 770 (option 2)
Easy Sell: 0860 007 724
Personal Term Loans: 0860 548 523
Business Lending: 0861 498 468 (option 2)
SBIS customer services: 0860 123 911
SBIS claims: 0860 123 555
Book Sold Contact details
Cheques, Loans, VAF and Home loans: PersonalLendingSB2013@standardbank.co.za
Access Loans: PTLSB2013Sapphire@standardbank.co.za
Credit Cards: CardSB2013@standardbank.co.za