Debt review is a formal process guided by the National Credit Act in South Africa, aimed at assisting individuals who are over-indebted. It offers a structured plan to manage your debts and regain financial stability.

Obtaining a loan while under debt review is generally not advisable and is, in fact, illegal according to South African law. The focus should be on settling existing debts.

To remove your debt review status, you’ll need to settle all your debts and obtain a clearance certificate from your debt counsellor. This certificate will be sent to credit bureaus to update your credit profile.

Exiting debt review is possible once all restructured debts are fully paid. A clearance certificate is then issued, and your credit profile is updated.

The cost for removing debt review varies depending on your debt counsellor and the complexity of your case. It’s best to consult your debt counsellor for specific figures.

The time it takes to remove a debt review flag can vary. Once you’ve received your clearance certificate, it can take up to five business days for credit bureaus to update your status.

Debt review involves an assessment of your financial situation by a certified debt counsellor. They negotiate with your creditors to restructure your payments, making them more manageable.

To clear your name, you’ll need to settle all restructured debts and obtain a clearance certificate from your debt counsellor. This will be sent to credit bureaus to update your credit profile.

You can check your debt review status by requesting a credit report from a registered credit bureau or by consulting your debt counsellor.

The time frame can vary, but generally, you’ll need to wait at least one year after completing debt review and receiving your clearance certificate.

The duration of debt review varies depending on your financial situation and the terms negotiated with your creditors. Generally, it lasts between 3 to 5 years.

In South Africa, debt review is a legal process regulated by the National Credit Act, designed to assist over-indebted individuals in managing their debts effectively.

To be removed, you’ll need to settle all your debts and obtain a clearance certificate from your debt counsellor. This will be sent to credit bureaus to update your status.

A debt review is a formal, legal process that helps over-indebted individuals manage their debts through a structured repayment plan.

Typically, you’ll need to wait at least one year after completing debt review and obtaining your clearance certificate.

You can check your status by requesting a credit report from a registered credit bureau or by consulting your debt counsellor.

Once all debts are settled, obtaining a clearance certificate usually takes up to five business days.

Generally, you’ll need to wait at least one year after completing debt review and receiving your clearance certificate.

Getting a loan under debt review is not advisable and is illegal according to South African law. The focus should be on settling existing debts.