BUYING OF DEBT, HUGE PROFITS AND HARASSMENT TO OBTAIN CONFIDENTIAL INFORMATION

Be careful of this company, they like buying debt in order to increase the companies profit (with a huge margin) to the initial debt. Afterwards the debtor is then obliged to the pay original debt, as well as the extra costs added in order for the company to make a profit (why should the debtor pay for costs / profit?). DMC Debt Management is even purchasing debt that was being paid on a regular basis to the initial debtor, this cannot be legal.

Also, when the purchase the debt there is NO WRITTEN communication from certain of the companies, nor the company itself in stating that they have purchased the debt, and these are the terms and conditions. WHERE IS THE TRANSPARENCY in the transaction. How does this relate to the constitution 217 of South Africa in relation to transparency and equitable?

DMC Management is even insisting in confidential agreements, that the debtor has concluded with a debt administrator, in order to pay ALL the debtors against a set rate monthly. As a debtor, there is a POPIACT that covers any person in relation to confidentiality, especially in relation to documents that has been signed by two parties. As a debtor, as well I am only obliged to give them an update of what has transpired in personal life about any financial matters (even the details of the financial institution) but not any signed documents that relates to this matter).

My advice to this company is, stop breaking the law! Stop buying over debt from other companies and adding a huge profit to gain income from debtors. Please do not think that persons DO NOT track their initial amount owing of (given that some persons have a photographic memory of the values initialed owed). Also do not think that debtors ARE STUPID and do not know the law in relation to credit matters.

Kindly STOP HARASSING me to forward confidential information in relation to a document signed by me and the debt administrator. As a debtor I have right to confidentiality according to the POPIACT.

If this harassment continues to try and obtain confidential documents, as well the adding of a huge profit when purchasing debt, I'll be contacting the credit ombudsman and I'll be suing!

NB: DMC Management is not the only company that has been purchasing debt, there a several other debt management companies doing the same. All these companies are buying over debt and adding huge profits (BEWARE)