How to get a Debt Review Clearance Certificate
Updated: Mar 11
Negociate Credit Solutions - Author Lauren Heekes
Is your Credit Report still not cleared of your Debt Review Status? Read these stories and see how these consumers overcame this issue.
Khutso’s Story
Khutso applied for Debt Review in 2013 and then withdrew from Debt Review. Prior to 2015 a client could withdraw from Debt Review and their credit report could be cleared of the Debt Review notification. His Debt Counsellor at the time did not remove this notice. In the meantime Khutso had paid up all of his debt.
So how could we help Khutso?
1. We asked Khutso to sign a Power of Attorney and also a Debt Counsellor’s transfer consent.
2. The Power of Attorney would be used to act on his behalf to obtain the paid letters from his Credit Providers.
3. The Transfer Consent was sent to his previous Debt Counsellor requesting that they transfer Khutso to our company.
4. The transfer was accepted and we obtained all of his paid up letters.
5. Along with a certified copy of his I.D., proof of residence, withdrawal letter and paid up letters for his debt, we were able to issue his Clearance Certificate.
6. Khutso’s Credit Report was cleared of his Debt Review status in 5 working days and his accounts were marked as paid up within 30 working days.
7. Khutso was able to purchase a house within 6 months of clearing his Credit Report.
Send Your Questions to Negociate Credit Solutions > https://bit.ly/3i3PIwl or email contactme@negociate.co.za
Clarissa’s story
Clarissa completed her Debt Review in 2015, but her Debt Counsellor had never submitted her Clearance Certificate to all the parties concerned. The NCR, Credit Bureaus and Credit Providers still had her listed as being under Debt Review.
So how could we help Clarissa?
1. We asked Clarissa to complete as Transfer Consent. This allowed us to request transfer on her behalf from her previous Debt Counsellor to our company to manage her Debt Review Clearance.
2. Clarissa had all of her paid up letters and the necessary documentation like a certified copy of I.D., the Debt Review Court order and proof of residence. If she did not have a copy of her Debt Review Court Order we would have requested this from her Credit Providers.
3. We removed her Debt Review status from the National Credit Regulator within 5 working days, Credit Providers updated their systems within 10 working days and the Credit Bureaus cleared up her payment history within 45 days.
4. The Credit Bureaus took a little longer as Clearance was issued over the Festive Season and there were a lot of public holidays. Public holidays and weekends are not regarded as working days.
Send Your Questions to Negociate Credit Solutions > https://bit.ly/3i3PIwl or email contactme@negociate.co.za
Micheal’s story
Micheal applied for Debt Review in 2009. After he lost his job he decided to Sequestrate in August 2010. A Sequestration Order is a high Court Order that writes off 75% of your debt. The remaining 25% is then paid off over 18 months.
Once Micheal had paid the 25% off, he had to wait for 3 years to rehabilitate. Rehabilitation clears your Sequestration notice from your Credit Report and you become credit worthy once again.
After Micheal Rehabilitated he was still not credit worthy. His Debt Review status had not been updated at the NCR and Credit Providers.
So how could we help Michael?
1. We requested transfer from his previous Debt Counsellor so that we could manage his Debt Review Clearance on his behalf.
2. Micheal provided us with a copy of his Sequestration Order and Rehabilitation Order as well as all the relevant FICA documentation.
3. We issued Micheal’s Clearance Certificate along with his Sequestration order and Rehabilitation order to all parties concerned. Micheal’s Debt Review notice was cleared within 5 working days from his Credit Report and the Credit Providers updated systems within 20 working days..
Send Your Questions to Negociate Credit Solutions > https://bit.ly/3i3PIwl or email contactme@negociate.co.za
If you are still struggling to remove your Debt Review status, send us your information and we will get back to you with a solution.
If you would like us to to give you advice regarding the removal of your Debt Review Status:
1. Call us on 0861 555 554 and select Option 3.
2. Send us an email to contactme@negociate.co.za
3. Submit your query via our FaceBook Messenger app https://bit.ly/3i3PIwl
4. Complete a call back request on our website at http://bit.ly/38Aoyuc
Once we receive your information, a consultant will come back to you with a detailed explanation of how we can assist you.
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About our Author
Lauren is a registered member of the National Credit Regulator. Prior to that, she worked as a Financial and Technical consultant for McGregor-BFA (Now INET-BFA). McGregor-BFA provided Trading and Market related data as well as Investment management software to Asset Managers, University Business Schools and Investment entities. Thereafter experience was advanced to the Property Market working as a Project Manager for Propertyi. But it was her career at the IEB in Adult Education that inspired a passion of hers to educate consumers about responsible ways of managing their financial lives and the long term advantages of doing so. It is her belief that financial education should be taught from an early age. By doing so we can create a country that is economically stable, driven not only by work ethics, but by becoming Financially Independent too.
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