If you wish to erase debt review, this can be done in the following instances:

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 Where the accounts under debt review have not been settled:

If your debt review was made an order of court, an application to rescind the debt review order must be made to court. Once the debt review order is rescinded, payments in respect of any outstanding accounts will then be made directly to the creditors by way of negotiated payment arrangements.

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Often, many creditors refuse to negotiate such payment arrangements until the debt review order has been rescinded as such creditors reason that they cannot accept payments directly from the consumer whilst the debt review court order is still in place. Thus, where a consumer wants to exit debt review and there are still accounts that have not been settled in full, we conduct a preliminary assessment and evaluation to determine whether the consumer will be financially able to afford to make payments directly to the outstanding creditors once the debt review court order has been rescinded.

Occasionally, we encounter consumers who are already making payments directly to their creditors albeit that there is a court order in place and this obviously is indicative of the consumer’s financial affordability to repay the outstanding accounts once the debt review court order is rescinded.

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Where the accounts under debt review have been settled in full

The debt review process can also be terminated if you have paid up all the accounts that were subject to the debt review order. In this instance, your debt counselor must issue a clearance certificate.

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 Where all accounts have been paid up but there is a home loan account or large credit agreement that is outstanding

The debt review process can also be terminated where all the accounts that were subject to the debt review agreement or re-arrangement order have been paid in full but there is a home loan account or any other large credit agreement that is still outstanding and there are no arrears in respect of the home loan or large credit agreement in terms of the debt re-arrangement order. Where the aforesaid applies, the debt counselor must issue a clearance certificate.

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The debt review process can be erased and the debt review flag can be removed from your credit reports if you are not over-indebted. Each case has its own merits and therefore, we advise that your case is first assessed to determine whether you can gain relief. If you prefer to have the evaluation form sent to you via email then please send an email message to bookings@blackfeegures-debterazer.com