Next consumers received various warnings about misleading advertising.
The difference between debt consolidation (offered by credit providers) and debt counselling (offered by Debt Counsellors) was explained. Misleading adverts sometimes purposefully leave out the words debt counselling or debt review and instead mention consolidating debt.
The advert above also talks about 36 months implying that is how long it will take, when each persons situation is unique.
Several examples of misleading wording in adverts were shared during the session=.
One example was an advert saying:
‘NCR is giving South Africans Extra Cash to enjoy, by reducing debt interest and protection from repossession of assets.’
Many times adverts make promises of reduced payments, writing off debt or guaranteeing reduced interest. Some make claims or imply that the government are involved in providing these service.
Here are a few examples that consumers were warned about: