CIF – TASK TEAM AGREEMENT

Updated:- 22 October 2024

Please see attached our CIF Minutes from the 6th of September:

• 1st TTA subcommittee meeting minutes – 06 September 2024

And the Agenda for our following Task Team Subcommittee:

• TTA Subcommittee Agenda – 25 October 2024

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On September 6, 2024, the CIF Subcommittee met to discuss and agree on the terms of reference and proposed process for the Task Team Agreement. Casper le Grange, our representative from the Eastern Cape Branch, was chosen as DCASA’s representative on this subcommittee.

The Terms of Reference is a key document that provides the subcommittee with guidance on what topics can be addressed. During the meetings, several important topics were discussed, including:

1. **Eventual Satisfaction of Debt:** It was noted that each Credit Provider has its own business model, risk tolerance, and procedures for dealing with debt satisfaction. Therefore, we should not try to impose a single definition of what eventual satisfaction means to all credit providers.

2. **Legacy Consumers and Debt Review Removals:** Concerns were raised about whether legacy consumers could be helped through changes in legislation, as many believe only legislative amendments can assist these cases.

3. **Insurance Issues:** There was an agreement to clarify insurance, especially regarding how value-added products are categorized under the term “insurance.” Clear definitions are needed between warranties and credit life insurance, as well as guidelines for handling these products.

The NCR will update the Terms of Reference according to our discussions and send them for approval. Once we receive the final version, we’ll share it with all members for their approval.

Finally, the NCR intends to create smaller groups within the subcommittee, called “work groups,” each led by a project manager. These groups will consist of industry experts who will address different sections of the Task Team Agreement. The upcoming workshops will cover:

1. **Annexure A:** Improvements to the debt review process and participants’ conduct.
2. **Annexure B:** Guidelines for assessing a consumer’s financial situation and over-indebtedness.
3. **Annexure C:** Requirements for debt counselling systems and debt restructuring principles.
4. **Annexure D:** Rules for consensual debt restructuring aligned with industry standards to combat over-indebtedness.
5. **Annexure E:** Standard documents needed for the process.

DCASA will actively participate in each workshop, appointing representatives to collaborate with our members and provide legal and procedural advice.

Next steps include:

1. Appointing DCASA members and specialists to each workgroup to represent DCASA. If you’re interested in contributing to a workshop in your area of expertise, please contact Vanessa at dcasa@dcasa.co.za.
2. Drafting a project plan outlining the topics to be discussed in the workshops.
3. Ensuring all communications are shared with members for feedback, which should be provided using track changes on a Word document to streamline the process.
4. Discussing the feedback in NEC meetings and workgroups to gather a comprehensive perspective.
5. Sending the document with our comments to the workgroup to express our concerns and suggestions.
6. Following this process for each workgroup as they begin.

DCASA welcomes the participation and input of its members during this challenging task ahead. Your insights are essential for identifying issues and suggesting solutions, as DCASA represents a diverse range of debt counsellors and it is crucial that we understand the industry’s challenges as a whole.