How do I get a Debt Review Clearance Certificate?

You have fully repaid your debts and settled your debt counselling fees. Now it it’s time to exit debt review and get your clearance certificate, but your debt counsellor has closed in the meantime.

The importance of getting a debt review clearance certificate

It signifies the end of your successful debt review process and confirms that you have satisfied all the repayment obligations under your restructured payment plan that was formed when you entered debt review.

Who should issue your debt review certificate?

According to the National Credit Act (NCA), your debt counsellor and not the courts, should issue your debt review certificate.

Benefits of getting your debt review clearance certificate?

• Once you have completed the debt review process, you can regain access to credit facilities as your credit profile is no longer flagged under debt review.
• Exiting debt review can also improve your creditworthiness over time.

What do you do if your debt counsellor has closed, and you can’t get your debt review clearance certificate from them?

There are several steps you can take, which we outline below:

Contact the National Credit Regulator (NCR)

The NCR are responsible for overseeing debt counsellors and may have information on the closure of your debt counsellor’s office. They can guide you on the process of obtaining a debt review clearance certificate or provide you with a list of alternative debt counsellors who might be able to assists you.

Get all your documentation in order

Before going on the hunt for a new debt counsellor, make sure that you have all the documents relevant to your debt review process, including payment records, agreements, and correspondence with your previous debt counsellor on hand. This documentation is vital for your new debt counsellor or the NCR to assess your situation.

Get in touch with your creditors

They may be able to provide records of your repayment status and confirm that your debts have been settled.

Get legal advice

The last thing you want to do is throw more money around, but if there are complications with getting your debt review clearance certificate, a lawyer with experience in financial or consumer law can provide you with guidance and help protect your interests.

Keep an eye on your credit report

Ensure that it accurately reflects your debt repayment status. After obtaining your clearance certificate, ensure that all relevant information on your credit report is updated to accurately reflect your cleared status.

Let Debt Freeze help you

So, your debt counsellor has vanished and now you are stuck between a rock and a hard place. Don’t stress. Debt Freeze is here to help you.

Debt Freeze has helped many clients who found themselves in the same sticky situation as you.

Fill in our free assessment form, and we would be happy to help you get your debt review clearance certificate, make contact with your creditors and contact the credit bureaus on your behalf.