Should Non-Legal Practitioners (Debt Collectors) And Their Activities Be Regulated?

The view of maintaining the informal debt collection industry but with some form of regulation of the conduct and activities of the debt collectors has received overwhelming support from stakeholders such as the Judiciary, Government departments, Non- Governmental Organizations, Business Community, Legal Practitioners and Individual members of the public. Almost all are in agreement that regulation was the only way forward.

However there are differing views on the form and structure of the regulation to be adopted. There are fears that a regulatory system would relieve the pressure on the debtors to meet their financial obligations. It has been submitted that whatever regulating mechanism to be put in place must not encourage debtors to delay or avoid meeting their obligations. The majority of cases handled by debt collectors relate to members of the public who have broken payment agreements and...