Cape Town - Debt mediation can be very successful, because instead of going to court the over-indebted consumer can use a mediator. This is a cheaper and quicker process to resolve any issue with the attorneys representing the credit provider, Magauta Mphahlele, debt expert and CEO of the National Debt Mediation Association told Fin24 in a News24Live studio interview.
She said yes, debt counsellors can assist consumers to engage with their credit providers - obviously it depends where the account is.
"(But) if the account is in the legal process, mediation works the best, because now you are speaking to legal people outside of the credit provider and that is a different engagement."
Mphahlele said attorneys are usually willing to come to an amicable arrangement with the consumer, but a lot of the time consumers do not know how to engage at that level.