Many over indebted consumers don’t know where to go when it comes to their financial related complaints and often giving up and abandoning their quest to seek help.
As a company under the National credit regulator(NCR), we realized that some consumers don’t always know where to get financial support from and as a result of frustration, give up on seeking help. It is for this reason that Nokofin was started in 2008, to offer financial assistance and resolve financial crisis .
Credit products are complex and not easy to understand for most consumers, While the National Credit Act provides for comprehensive disclosure, simple and understandable language, access to documents and statements and the explanation of the risks and costs of credit, many consumers enter into credit agreements without any understanding of rights and responsibilities, cost of credit, dispute processes, debt enforcement and the various credit products. While financial literacy education is essential our experience is that consumers need just more than information, they need an objective and knowledgeable place/person to go to for information and guidance when things aren’t going well and they need financial debt help relief. Nokofin offers financial help in the form of debt review or debt counseling. Nokofin aims to reduce the negative impact of over indebtedness on individuals consumers, families and society in general through proactive and reactive interventions. Nokofin will ensure that consumers who enter our debt review program come out financially free at the end of the program.
