Debt Review & Clearance Certificates
Sometimes we feel trapped by our financial circumstances. That is why Debt Review was created. To give all South Africans a legal helping hand to take back our financial well-being.
- Feel secure with a court order in YOUR favour.
- Get protection against further legal action.
- Protect yourself, your family, your health, and your assets.
- Receive a registered, dedicated debt counsellor who cares.
- One point of contact for everything.
- The work is done for you by certified, experienced professionals.
- Stop paying ridiculous interest rates.
- Stop creditors harassing you.
- Put more money in your pocket.
- Become Debt Free
Debt review, also known as debt counselling or debt restructuring, is a process in which a consumer with financial difficulties works with a debt counsellor to develop a plan to repay their debts. The process typically involves the consolidation of multiple debts into a single, more manageable payment and the negotiation of lower interest rates and fees with creditors. The goal of debt review is to help the consumer regain control of their finances and become debt-free.
Debt restructuring in South Africa is a process in which a consumer with financial difficulties works with a debt counselor or a credit provider to develop a plan to repay their debts. The process typically involves consolidating multiple debts into a single, more manageable payment, and the negotiation of lower interest rates and fees with creditors. The goal of debt restructuring is to help the consumer regain control of their finances and become debt-free.
Debt restructuring in South Africa typically starts with the consumer applying for debt review, which is a formal process that is regulated by the National Credit Regulator (NCR). A consumer will then be assigned a debt counselor who will assess their financial situation and negotiate with the creditors on their behalf to come up with a debt repayment plan that is affordable for the consumer. This plan will be reviewed by the credit providers and if they agree with the proposed plan, they will be bound to it and the consumer will start making payments according to the restructured plan.
It’s important to note that debt restructuring is a formal process and once a consumer’s name is on the NCR’s debt review list, they are restricted from applying for any new credit until they have been cleared through the debt review process and a clearance certificate has been issued.
Debt review removal in South Africa refers to the process of having a consumer’s name removed from the National Credit Regulator’s (NCR) debt review list, once they have fulfilled their obligations under the debt review process.
In order to have their name removed from the list, the consumer must provide proof to the NCR that all their debts have been paid in full or that they are now financially stable. Once the NCR and debt counsellor is satisfied that the consumer has met these requirements, they will issue a clearance certificate and the consumer’s name will be removed from the list. This will enable the consumer to apply for credit again, without the restriction that comes with being under debt review.
A clearance certificate in South Africa is a document issued by the debt Counsellor that confirms that a consumer has fulfilled their obligations under the debt review process and that their name has been removed from the NCR’s debt review list. The certificate serves as proof that the consumer is no longer under debt review and can apply for credit again without restriction.
To get a clearance certificate, the consumer must provide proof to the Debt Counsellor that all their debts have been paid in full, and that they are now financially stable. Once the NCR and debt counsellor is satisfied that the consumer has met these requirements, they will issue a clearance certificate. The consumer can then use this certificate to apply for credit with any credit provider, and it will show them that the consumer is no longer under debt review and can handle credit responsibly.
A police clearance certificate, also known as a “certificate of good conduct,” is a document issued by the South African Police Service (SAPS) that verifies that an individual has no criminal record.
Individuals may apply for a police clearance certificate for various reasons, such as for employment, immigration, visa application, or other legal matters. To obtain a police clearance certificate, an individual must complete an application form, provide proof of identity, and pay a fee. The process may take several weeks, and the certificate will be issued if the individual has no criminal record.
It’s worth noting that the certificate only reflects the criminal records that are held by the SAPS and it only covers the time when the person was in South Africa, any criminal records from other countries will not be reflected on the certificate.
