How Do I Remove Debt Review From My Credit Report in South Africa?

If you have applied for credit and been told that you are still under debt review, even though you believed the process was finished, you are not alone.

One of the most common enquiries we receive at Get Me Out is from consumers who thought their debt review ended years ago, only to discover that they are still showing as under debt review when they apply for a home loan, vehicle finance or other credit.

Some have paid their accounts. Others have lost contact with their previous debt counsellor, stopped the debt review process years ago, or simply don't know what stage their debt review reached.

The important thing to understand is that debt review removal is not the same process for every consumer. The first step is to establish your current debt review status and determine which process applies to your particular circumstances.

If you are trying to remove debt review from your credit report, the correct process will depend on the stage your debt review reached and your individual circumstances.

How Do I Remove Debt Review From My Credit Report?

When you enter debt review, the process is formally recorded and information is communicated to the relevant parties. Simply stopping payments, no longer dealing with your debt counsellor, or waiting several years does not necessarily mean that your debt review status will disappear automatically.

This is why some consumers only discover there is still a problem when they apply for new credit and are declined because they are still recorded as being under debt review.

The first question should therefore not simply be, “How quickly can I remove debt review?”

It should be: “Why am I still showing as under debt review, and what is the correct process for my circumstances?”

Can Debt Review Be Removed If All My Accounts Are

Paid?

If you have paid up your debts, you may qualify for a debt review clearance certificate, commonly referred to as a Form 19 Clearance Certificate.

However, paying your accounts does not always mean that the debt review indicator will disappear automatically. The correct clearance process still needs to be completed and the relevant parties notified so that your records can be updated.

There are also circumstances where a consumer may qualify for clearance even though a home loan is still outstanding, provided the applicable requirements have been met.

This is why it is important to check your actual debt review status and confirm which accounts formed part of the process rather than assuming that the debt review has ended simply because payments have been completed.

Can I Remove Debt Review If I Still Owe Money?

This is one of the most common questions we receive, and the answer depends on the circumstances of your debt review.

Simply being able to afford your original repayments again does not necessarily mean that debt review can automatically be cancelled or removed.

The correct process may depend on factors such as the stage your debt review reached, your current debt review status, whether you were formally declared over-indebted, whether a debt rearrangement order was granted, and which debts remain outstanding.

This is why two consumers who both say, “I am under debt review and want to get out,” may require completely different processes.

Before advising a consumer on debt review removal, it is therefore important to establish exactly what happened during the original debt review process and what their current status is.

What If I Started Debt Review but Never Completed the Process?

We regularly encounter consumers who applied for debt review several years ago but did not continue with the process. Some stopped making payments through debt review, some began paying their creditors directly, and others simply lost contact with their previous debt counsellor.

Years later, they apply for credit and discover that they are still recorded as being under debt review.

The fact that several years have passed does not by itself resolve the debt review status. The original process and current status first need to be investigated so that the appropriate way forward can be identified.

What If My Previous Debt Counsellor Is No Longer Helping Me?

This is another situation we frequently assist with. Your previous debt counsellor may no longer be practising, may be difficult to contact, or you may simply no longer have their details.

In other cases, consumers have paid accounts directly or have very little documentation remaining from a debt review that started many years ago.

This does not necessarily mean that nothing can be done. The starting point is to establish your current debt review status, identify the previous debt counsellor where possible, and determine what happened during the original process.

Once this information is available, the appropriate next steps can be considered based on your individual circumstances.

What Is a Form 19 Clearance Certificate?

A Form 19 is the prescribed clearance certificate used when a consumer has met the applicable requirements to be cleared from debt review.

Once the clearance process has been completed, the relevant credit bureaus and credit providers must be notified so that the applicable debt review information can be updated.

It is important to understand that a clearance certificate does not simply erase your entire credit history. Your normal payment history and other information on your credit profile may still affect your credit score and future credit applications.

Will I Qualify for Credit Immediately After Debt Review Is Removed?

Not necessarily. Debt review clearance and credit approval are two different things.

Once the applicable debt review restriction has been properly cleared, it should no longer prevent you from being considered for new credit. However, a bank or other credit provider will still assess factors such as your income, affordability, existing financial commitments, payment history and overall credit profile.

We therefore do not believe consumers should be promised that removing debt review will automatically result in a home loan, vehicle finance or other credit being approved.

If you have been cleared from debt review but are still being declined for credit, there may be other information on your credit profile that needs to be investigated.

How Can Get Me Out Help With Debt Review Removal?

At Get Me Out, we understand that no two debt review cases are exactly the same. Before advising you on the way forward, we first establish your current debt review status and what happened during the original process.

Depending on your circumstances, this may include reviewing your debt review status, credit information, previous debt counsellor details, outstanding accounts and any relevant documentation.

Once we understand where you stand, we can explain the options that may be available and the appropriate process to follow.

Still showing as under debt review and not sure why?

Contact Get Me Out and let us assess your situation so that you understand what needs to happen next.

Need Help With Debt Review Clearance?

If you are still showing as under debt review, have paid your debts, cannot get assistance from your previous debt counsellor, or are unsure of your current debt review status, visit our Debt Review Clearance service page or contact Get Me Out for an assessment of your situation.