Debt Collection: Any Loan apps calling your contacts are violating your rights

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To ensure that debt recovery processes are transparent, courteous and fair, devoid of undue pressure, intimidation, harassment, humiliation or threat, Institutions shall.

Engage and give customers notice(s) of outstanding obligations prior to the commencement of a debt collection. Initiate foreclosures only when other recovery steps have been unsuccessful.

Give customers the option of a private sale, to be exercised within 30 days before commencing foreclosure, except where the customer waives the right.

Ensure that the net proceeds from foreclosures are immediately applied to the loan account and customers informed of any balance. Provide customers with a report of the sale of the collateral. At a minimum, the report shall state the process, proceeds, incidental expenses and the net proceeds. Be liable for the actions of their agents engaged for debt collection.

Not engage in any of the following:

a. Contact friends, employer, relatives or neighbours of a customer for any information other than information on employment status, telephone numbers or address, except where: i. ii. the person has guaranteed the loan; or the person has consented to be contacted.

b. Require any of the persons listed in (a) above to offset the debt, except where the person has acted as a guarantor.

c. Make telephone or personal contact with customers between the hours of 9.00pm and 8.00am for the purpose of debt recovery, except with the prior consent of the customer.