Consumer Friend was initially a department within the Durban Law Firm Easton-Berry Incorporated.
In 2005, with the implementation of the National Credit Act, the Directors of the Law Firm realized the potential of creating a unique service offering to the South African Credit Industry. Consumer Friend was launched as a separate business, offering comprehensive and compelling Debt Review solutions for Credit Providers in South Africa.
In addition to dealing with all administrative and statutory requirements, a key focus of the business is ensuring cash flow optimization for Clients. Part of this strategy includes a specialist debt recovery entity collecting on accounts which have terminated from their Debt Review plan.
Over the past decade, Consumer Friend has established close working relationships with Debt Counsellors and Payment Distribution Agencies (“PDA’s”). These established relationships ensure effective restructuring of debt and the implementation of realistic payment solutions between stressed Consumers and Credit Providers. System integration and constant development with all key players ensures that Consumer Friend remains the market leader in the Debt Review Industry.
Consumer Friend and its Executives have always remained at the forefront of the relatively young South African, Debt Review Industry. This includes addressing Parliament on Debt Review issues and being commissioned by Parliament to compile working papers on Debt Review for the Portfolio Committees of Justice, Finance, and Trade & Industry. Our CEO chaired the representative body formerly known as the Debt Review Advisory Committee and currently represents the Retail Industry nationally on the Credit Industry Forum and sits in an advisory capacity on the various task teams established by the National Credit Regulator.
Once Consumer Friend and the Debt Counsellor have come to an agreement on the proposed re-payment structure, the matter goes before a Magistrate where the agreed structure is made an order of Court.
In order for the Consumer to be afforded the protection of the National Credit Act, it is a pre-condition that; the Consumer is employed, earn a regular income and appreciates that all their credit facilities will be frozen whilst under Debt Review.
Debt Review therefore, is an opportunity, to help Consumers realistically restructure their debts, in order to avoid the alternative of costly and complicated legal action.
3 The Crescent East
Westway Office Park
Westville, Kwazulu Natal
Tel: 031 251 4150
3 Termo Street
Tel: 031 251 4150