WHAT WE DO
Consumer Friend provides specialised business support services with comprehensive and compelling solutions for the debt rehabilitation and debt review industry. A key focus of the business is ensuring cash flow optimisation for clients, through unique collections and debtor management strategies.
ABOUT CONSUMER FRIEND
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 and debt rehabilitation 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 ensure 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 currently represents the Retail Industry nationally on the Credit Industry Forum and sits in an advisory capacity on the various sub-committees established by the National Credit Regulator.
We can assist with any stage of the business process using our industry-leading platform to manage large volumes of workflow expertly and accurately.
If the client prefers to manage workflow using their tried and tested platforms, we offer a Remote services option whereby our staff simply log into the client’s system through secured channels and work as one of the team.
We offer a comprehensive data clean-up solution where data needs to be “recaptured” accurately and completely to enhance the client’s data quality and ultimately their reporting functionality.
Our Business Intelligence team provides our clients with custom made and bespoke reporting packs that can provide value added insight into the performance of their portfolios with a key focus area being debtors payment performance.
Our clients include all stakeholders within the debt rehabilitation industry value chain from cradle to grave.
RCS 11th Annual EDC Awards 2019 EDC of the Year
On the 13th of March RCS held their Annual EDC Awards Celebration for 2019 at Steenberg Estate in Cape Town. The awards highlight top outsourced debt collection organisations that have made a considerable impact in recovering funds on behalf of RCS. Consumer Friend has once again won the prestigious EDC of the year (specialised) award, […]
Special report: South Africa’s unsecured lending crisis
Earlier this year, Differential Capital released a comprehensive analysis of the South African unsecured lending market in which it argued that despite the well-meaning legislation that had created this industry, it was essentially dysfunctional. Instead of empowering disadvantaged South Africans, as was the intention, it had become largely exploitative. “We accept the need for financial […]
Best Retail Finance Credit Provider Award 2019
Dear Friends and Valued Partners. I’m happy to share with you our recent success in winning the “Best Retail Finance Credit Provider Award” at the 2019 Debt Review Awards held recently in KwaZulu-Natal. The Debt Review Awards is an industry Awards Program which is specific to the Debt Counselling and Debt Review Industry. Each year, […]
“During the past 12 years, our company has worked with Consumer Friend who have provided us with specialized business support services with regards to our debt review book. The company uses a unique collections and debtor management strategy and we are fully satisfied with the working relationship that we have with Consumer Friend.”
Debbie Minnaar, The Foschini Group Limited