How to Remove Debt Review Online: A Step-by-Step Guide

By The National Debt Review Center

The Online Process of Removing Debt Review in South Africa

As a consumer, you may find yourself in a situation where you need to have your name removed from debt review. While this process used to require numerous phone calls and paperwork, today you can conveniently request to have your name removed from debt review online. This guide will walk you through the online process step-by-step, providing helpful tips and things to know along the way. In just a few simple steps, you can submit the necessary information and documentation to apply for debt review removal digitally.

Understanding the stages involved prepares you to navigate the online system with ease. Regardless of your technical expertise, this article details all you need to know to successfully remove yourself from debt review online.

Reasons to Remove Your Debt Review Online

While debt review provides relief, there are valid reasons for wanting to exit the process:

1. You were wrongfully listed under debt review.
2. If your financial circumstances have improved significantly, you may no longer need debt review.
3. You are already paying your creditors directly.
4. Your debt review was terminated and cannot be reinstated.

Debt review removal is essentially the legal procedure to remove the ‘debt review’ status from your credit profile. This status results from obtaining assistance from a registered debt counsellor and can act as a red flag for lenders, and making it difficult to secure loans, vehicle financing, or cell phone contracts.

The National Debt Review Center

The Debt Review Removal Process

The first step is to contact a registered debt counsellor, who will review your finances to determine if you qualify for the program.

Step-by-Step Guide to Removing Debt Review Online

1. The client initiates the process by either booking an appointment or completing an online application form. The application form can either be filled out online or downloaded and submitted after completion.
2. The second step is to assess your application. After receiving the application, it is thoroughly assessed to determine the likelihood of a successful debt review removal. This involves reviewing your current financial status, ability to service your current debt obligations, debt review history and other contributing factors.
3. Once the application is deemed potentially successful, a legal pack is prepared. This involves gathering all necessary documentation from relevant stakeholders, which may include previous debt counsellors, credit providers, client and other legal entities.
4. The complete application/legal pack, is then submitted to a court. The purpose is to obtain a court order declaring that you are no longer over-indebted.
5. If the court finds the application valid and it meets all criteria, the order declaring you no longer over-indebted or rejection thereof of the previous application will be granted.
6. Once the court order is granted, the documentation is submitted to the NCR for updates and verification.
7. After the NCR updates their records to reflect your new status, they notify all credit bureaus of the change and request us to do the same.
8. Your record from the bureaus will be updated within 21 business days after our submissions and the debt review listing will be successfully removed from your credit profile, thus restoring your creditworthiness.

Removing a debt review can be done through an online process, offering several benefits. Convenience. The online system allows you to apply for debt review removal from anywhere via your mobile device or computer. You don’t have to take time off work to visit a debt counsellor’s office. Online applications are processed rapidly, often within minutes. This means you can get out of debt review and return to managing your own finances promptly.

Your details will remain private.

The online process is entirely private. You enter your information on a secure website and a debt counsellor reviews it privately. They then submit the necessary paperwork to the courts on your behalf. Your personal financial details are not shared at any point. NDRC Privacy Policy

Low cost debt review removal fees.

Applying to cancel debt review online through The National Debt Review Center typically only costs an affordable fee of R8550.00 to no longer over indebted consumers, which is usually payable over a period of 2/3 months. This is more affordable than most debt review removal companies or debt review removal attorneys. The online system is designed to be accessible and budget friendly for NO LONGER OVERINDEBTED CONSUMERS.

Debt Review Removal DIY approach.

For those who prefer a do-it-yourself method, applying online to remove debt review allows you to handle the process yourself from start to finish. You remain in control of submitting the application and providing any necessary supporting documents. A debt counsellor/NDRC Team will be there to guide you through the steps, but you get to do the work at your own pace. Download the “My Pocket Debt Counsellor” App and manage your debt review removal with ease.

With multiple benefits like convenience, speed, privacy, affordability, and a DIY option, removing debt review through an online system is an attractive choice for many individuals looking to regain control of their financial freedom. The process is designed to be easy to navigate, even for those with no legal background, allowing you to quickly put debt review in the past and move forward.

Tips for Managing Your Finances After Debt Review Removal

Once you have successfully removed debt review, it is critical to implement sound financial management practices to avoid ending up in a similar situation again.

1. Create a realistic budget.
2. Allocate your funds to necessary expenses first, then discretionary items.
3. Track your spending for a few months to identify areas you can cut costs.
4. If you still have outstanding balances on credit cards or loans, focus on paying them off as quickly as possible. Make minimum payments on all debts, then allocate any extra funds towards the highest-interest balance. As you pay off each debt, roll the payment amount into the next highest balance. This “snowball effect” can help eliminate debt efficiently.
5. Stick to your repayment plan and make consistent monthly payments. Demonstrating commitment to resolving your debts is essential.
6. Keep track of your payments and stay in touch with your creditors. Regularly review your financial situation and make adjustments as needed.
7. Focus on improving your credit score. Make timely payments, diversify credit types, and monitor your credit report regularly.
8. Aim to save enough to cover 3 to 6 months of essential expenses in case of job loss, medical emergencies or other unforeseen circumstances. Start by saving a small amount from each paycheck, then increase the amount over time as your budget allows. Keep these funds in a savings account for easy access. An emergency fund provides security and stability.
9. The choices you make on a daily basis have a significant impact on your financial well-being. Continue living within or below your means, limit the use of credit cards and only borrow money when absolutely necessary. Meet with a financial advisor if needed to help guide your decisions. Practicing financial discipline and patience will serve you well for the long run.

With diligent effort and time, you can rebuild your financial stability after debt review. The rewards of financial freedom and security are well worth the commitment to change. Stay determined, make good choices and keep working towards your goals.

Frequently Asked Questions

How do I remove a debt review online?

The client initiates the debt review removal process by contacting The National Debt Review Center & either booking an appointment or completing an online application form. The application form can either be filled out online or downloaded and submitted after completion.

How do I withdraw from debt review process?

You start by contacting your debt counsellor and inform him/her that you wish to withdraw from debt review. the best method will be a formal email to your debt counsellor informing them of your intention to withdraw from the program. This email must state your reasons and the debt counsellor will provide you with a confirmation of your withdrawal. The form to confirm your withdrawal is called the 17.w

The 17.W letter does not imply that the listing will be removed from your credit profile; it merely confirms that you are no longer associated with the debt counselling company.

To remove the debt review listing, you will then need to contact The National Debt Review Center and find out if you qualify for a rejection, a clearance certificate or a rescission.

Can debt review be removed in South Africa?

Yes, debt review can be removed in South Africa. There are essentially three methods by which a consumer can exit debt review, and the available option largely depends on the progress of the process.

How much does it cost to remove debt review status?

The cost of debt review removal varies. For example, The National Debt Review Center charges R8550.00 vat exclusive, with an option to pay this amount over 2 or 3 months. Some law firms and may charge fees ranging from R3500.00 to R12,000.00 for this service.

What is the form for debt review removal?

The form is called “APPLICATION TO BE CONFIRMED NOT OVER-INDEBTED AND TO REJECT A DEBT RE-ARRANGEMENT RECOMMENDATION/ORDER” and you can download it from The National Debt Review Center’s website.

Debt Review Removal Application Form

Can debt review be removed automatically?

No, debt review cannot be removed automatically. The process of being removed from debt review typically takes between 3 to 6 months. The process includes preparing and submitting a court application.

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