How to remove debt review online
If you have ever wondered if you can remove yourself from debt review, you can’t. However, a registered Debt Counsellor can.
You can start your online application to remove debt review here.
You can only remove debt review if you meet the following requirements:
You can be removed from debt review if:
- You have paid up all your debts, according to the debt restructured plan(debt agreement) that was set-up by your Debt Counsellor.
OR
- You have settled all your debts, and the debts that have not been ‘settled’ have been prescribed.
OR
- You have settled all your debts excluding your home loan.
Want to know more about prescribed debt? Read this blog post
Remove debt review fast with Meerkat. Registered Debt Counsellor NCRDC 2613.
How can you legally exit debt review?
You can only terminate debt review if the debt review flag/ warning is removed from your credit report. For this debt review flag to be removed, credit bureaus need to be issued with a debt review clearance certificate. This clearance certificate indicates that you have successfully completed the debt review (debt counselling) process.
It’s important to note that the only individual who can issue a clearance certificate is a registered Debt Counsellor.
Remove debt review in South Africa with Meerkat online.
Read more: What is a debt review clearance certificate?
How can I check that my Debt Counsellor is registered?
- Before agreeing to go with a business or a Debt Counsellor that claims they can remove you from the debt review process, check to see that they have registered with the National Credit Regulator (NCR). You can search for this person or business here. If they do not come up, they are not registered, and you should steer clear from them. It could, very likely, be a scam.
- A quick search reveals that Meerkat, and our Founder & CEO, David O’Brien is registered with the NCR.
How long does it take to remove the debt review flag?
If you were previously declared over-indebted, and because of this, applied for debt review, the duration of the entire process is dependent on how much debt you have. However, it usually is about four-five years.
Read more: Debt counselling explained
If you have met the criteria mentioned above, all that’s left is for the debt review flag to be removed from your credit report. It can take 10 days to remove the debt review flag if you have all your pai-up letters.
Meerkat can do that for you. Because we are registered with the National Credit Regulator (NCR), we are legally able to issue you with a Debt Review Clearance Certificate and remove you from the debt review process.
Lawyers that remove debt review
- Free debt review removal in South Africa is not an option. There will always be fees for debt counselling or legal services involved.
- Consumers should also be wary of lawyers promising debt review removal services. Usually, these services may come at very high costs to the consumers. Any debt review removal service that charges you over R5000 is exploitative.
How does debt review removal work?
Here's a step-by-step guide about how you can be removed from debt review online:
- Fill in our easy online application.
- If you have your paid up letters from your creditors, you upload them. If you don’t, but have still settled your debt or you have prescribed debt, we can get the necessary paid-up letters for you.
- Credit record retrieved. At this stage, we will see if you have a debt review flag/warning on your credit report. This will determine whether or not we can assist you.
- Once we have determined you do, you will then be requested to pay the application fee.
- We make contact with your creditors and the credit bureau to update their records to indicate that your debts have been settled or prescribed.
- Your debt review clearance certificate is issued and a copy issued to the credit bureau. After the credit bureaus receive your debt review clearance certificate, your credit profile is updated and the debt review flag removed from your profile.
You are now free to start applying for credit again!
If you have paid up all your debts and you cannot find your Debt Counsellor, we can get you cleared. Begin your online application now.
MyMeerkat FSP is an authorised financial services provider (FSP 50979) and registered debt counsellor (NCRDC2613)
