Once you have successfully completed the debt review process, you regain the ability to apply for credit, which includes car finance. However, the ability to buy a car immediately after exiting debt review is not guaranteed and largely depends on Read more…
Yes, once you have successfully been removed from debt review, you regain the ability to apply for credit, including loans. However, it’s important to note that the approval of your loan application is not guaranteed just because you have completed Read more…
In South Africa, the credit bureaus generally hold negative information on your credit report for a period of up to 5 years. This includes information such as missed payments, defaults, or judgments against you. After this period, the negative information should Read more…
If you miss a payment under your debt review, it can have serious implications. If you find yourself in circumstances where you see you might have trouble paying your upcoming instalment amount, you should contact your debt counsellor immediately to Read more…
If you find yourself unable to meet the payments under the restructured plan of your debt review, it’s important to understand the potential consequences. The debt review process is designed to help individuals manage their debts more effectively by restructuring Read more…
No, being under debt review is not a criminal record. It’s important to understand that debt review is a legal process designed to assist individuals who are struggling with significant debt. Its primary aim is to help individuals manage their Read more…
A credit provider has the right to terminate the debt review process under certain circumstances. One of the primary reasons for termination is if you, as the consumer, fail to meet the agreed-upon terms of the debt review. This could Read more…
Section 88 (3) of the National Credit Act (NCA), provides that a creditor may not take legal action to enforce a credit agreement if the consumer has already applied for debt review and the application has been accepted and the Read more…
Can I cancel my Debt Review and continue to pay directly the reduced installment to my creditors? The National Debt Review Center FAQ’s The application to terminate a debt review depends on the consumer’s ability to show he or she Read more…
How can I get a Clearance Certificate if I cannot locate my debt counsellor, or the debt counsellor got deregistered? The National Debt Review Center FAQ’s The first step is to check the registration status of the debt counsellor HERE or contact Read more…