Debt Review Status Removal Experts
Many consumers who have previously used the debt review process as a way to gain relief from their financial situation, have found that after some time, their financial situation changes for the better and that they no longer require debt review assistance.
Unfortunately, Debt Counsellors are not allowed to remove a debt review status under the terms of the National Credit Act, unless a client has paid off all of the debt under the process in full.
This situation can become extremely frustrating to consumers who are no longer over-indebted. Many consumers find themselves in a position where their financial situation has drastically improved while under debt review and they no longer need to continue to have this status reflecting against their name.
We are here to help and we are able to assist in the removal of a debt review status.
Important aspects of removal to consider:
- Are you in a position to go back to paying your original contractual instalments to your creditors and no longer require the relief of the debt review process?
- We are able to assist you in making an application to court to declare you no longer over-indebted – you must ensure you are in a financial position to do so.
- Should your debt review status be successfully removed, you will resume with honouring your original contractual agreements and the creditor/s are then free to enforce their rights in terms of the credit agreement/s set out by the National Credit Act.
When it is possible to remove yourself from the debt review process:
Where all debt under the debt review process has been settled in full:
In a situation where you have followed through with the debt review process to such a point that you have now paid all of your debt off in full. Your Debt Counsellor must then issue you with an official Form 19 Clearance Certificate and ensure that the status is removed with all Credit Bureaus.
Where all debt under the debt review process has been settled in full, except a Home Loan:
In a situation where you have followed through with the debt review process to such a point that you have now paid all of your debt off in full. (With the exception of a Home Loan where there are no arrear payments in terms of the distributions via the debt review process.) Your Debt Counsellor must then issue you with an official Form 19 Clearance Certificate and ensure that the status is removed with all Credit Bureaus. You will then make payment directly towards your home loan and the creditor will be free to enforce their rights in terms of the credit agreement set out by the National Credit Act.
Where all debt under the debt review process has not been settled, but the client is no longer over-indebted:
In a situation where you have been under the debt review process. Your circumstances have improved to the point where you no longer need the debt review process for relief, but you still have outstanding debt. Your Debt Counsellor will not be able to remove the debt review status. You will need to make an application to the court in order to be declared no longer over-indebted. If there is a debt review court order in place, this will need to be rescinded before you can have your debt review status removed.
Credit Cleaner is here to assist you in removing your debt review status and allowing you to continue your financial life in a positive manner once more.
It is important to note that we will bring an application to court for a magistrate to declare you no longer over-indebted and remove your debt review status. The decision lies with the magistrate, so it is important to supply us with everything we request in order to give you the best chance of success possible.
Allow us to do a free assessment for you today. We will advise you on the process of getting your debt review status removed and move you towards a clean credit status.
Simply leave your details for us and we will contact you in order to discuss the process and how we can help.
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