Debt Review Removal

What is Debt Review Removal?

Debt Review Removal is the legal process to assist previously registered clients who are no longer over-indebted and can manage to maintain their debt repayments.

Debt Review Removal Criteria:

  • The client is under a debt review program
  • The debtor has made a payment towards this debt and it is not on any court order role but is registered with the NCR?
  • The client can prove that they are not over-indebted
  • The responsible debt counsellor is not traceable.

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Debt Review Removal for you!

Debt review removal has become somewhat of a pain point lately. In short, to complete your debt review process or to cancel it early, an extra step has been added, and unfortunately it is not a step you can take alone.. you will need the help of a lawyer. Luckily we can help!

To terminate the debt review process and to have the debt review notice removed from your credit reports requires that a court application be made for the court to find that you are not over-indebted, even if there is no court order in place for your debt review.

If your financial circumstances have improved to the point that you are now able to meet the repayments due to all your creditors, then the debt review process can be terminated. To have you listed as being under debt review and/or over-indebted would be unfair and in breach of the spirit of the National Credit Act, since you are not over-indebted anymore, and you are from now on able to pay your creditors directly and don't need the help from a debt counsellor or debt review anymore. To complete the removal you will obtained a court order to rescind the debt review order. Credit bureaus will be updated via the NCR Debt Help System about the changes in your situation and you will obtain a court order declaring that you are no longer over-indebted.

The Initial Debt Review Flag on Your Credit Record does not mean that you are over-indebted and under debt review. It only shows that you have requested assessment by a Debt Counsellor and you are deemed to be over-indebted.This flag protects you from existing credit providers taking legal action against you while your debt review application is in the process. You can withdraw from debt review process before Form 17.2 is issued. The Form 17.2 indicates that the debt counsellor has performed financial assessment (at your request and permission) and found you to be over-indebted. Once a Form 17.2 is issued, the only way to remove the flag is to apply to court to be declared not over-indebted regardless of whether or not the court process was executed. Ask your debt counsellor if Form 17.2 has been/was issued.

Contact us today at Credit Rescue so we can assist you with the debt review removal process.

Apply for debt review removal now