Due to last minute obligations at the DTIC the chairperson for the meeting was unable to attend and the meeting was pushed back by a week.
The topic of fees (and the initial restructuring fee timing) is one of great interest to Debt Counsellors in particular.
The NCR have been talking about whether the initial fee that is paid to Debt Counsellors should be split up and paid over a few months rather than all in one go.
The NCR recently also hosted a meeting about reckless lending. This is the other topic which the CIF has tackled this year (2023).
Various members of CIF were able to attend (although in this case the NCR were not present to chair the meeting and this duty fell to another member).
In particular one of the outcomes of the meeting was a need to look deeper into when reckless lending investigations should take place.
There is some debate if these can only be instituted during a very small window of time during the start of the debt review process (or not). This will be looked at in more detail during a future discussion.
‘the upcoming fees discussion will be the last CIF meeting for the year’
It is likely that the upcoming fees discussion will be the last CIF meeting for the year as many organisations go through some sort of end of year shut down or slow down during the holidays.