It is much easier to get into debt than it is to get out of debt – this is a phrase that most South African citizens are all too familiar with, with many grasping at the hope of improving their financial status in some or other way, whether it is as simple as budgeting better, or involves becoming debt free or clearing their name after Debt Review, Debt Counselling or even sequestration.
Our Credit Rehab services are geared towards consumers that are facing financial strain, or are recovering from past financial struggles that have left an impact on their credit score. Oftentimes, individuals are under the impression that, once all their debt has been paid off in full, their credit scores will change automatically, however the process is usually overseen through the Debt Review process, with a professional Debt Counsellor who will hand you your Clearance Certificate once you have successfully paid off your debts in full.
Upon completion of you paying off all your debts through Debt Review and on the basis that, were applicable, your mortgage/bond repayments are under control, you will be issues a Credit Clearance certificate. Once you and your various creditors have been issued with your Clearance Certificate, all default listings and judgements will be removed from your name and Credit Review flags will no longer reflect on your profile. It is important to note that your records will still reflect your payment defaults history for the time period of 2 -5 years.
Many individuals who find themselves burdened by debt and debt related issues go through a series of legally available efforts, in order to clear their name and begin to live that much coveted debt free life. The ultimate goal is not just to become debt free, but also to continue a life that is not tainted by a bad credit record, hindering your progress and affecting your ability to live a financially independent life. A bad credit score can affect your ability to purchase property, take out a loan or cell phone contract or in some cases, even stop you from getting the job that you want.
At Credit Rehab, our team of skilled and dedicated financial and legal experts are ready to help you become debt free and enjoy the many opportunities that come hand in hand with obtaining Credit Clearance.
For the most part and according to the National Credit Act (NCA), undergoing debt review should result in receiving a debt clearance certificate – if you find that this is not the case for you, check in with our team to find out how we can help you to attain your Debt Clearance Certificate. Sometimes, incorrect data can reflect outdated credit information that could be affecting your credit score even after you have completed Debt Review – if this is the case, we will be able to assist you in obtaining Credit Clearance.
If you are currently weighed down by unmanagable debts, check in with our well versed Credit Rehab team to find out how our Debt Review services can provide relief. Debt Review comes with many benefits, from allowing you as the consumer to pay off more affordable monthly instalments to your various creditors each month, to ensuring that you avoid asset repossession.
At Credit Rehab, we also provide a Credit Clearance service in Cape Town that is catered to individuals who have undergone sequestration. Find out how we can help you with any and all Credit Clearance matters; simply get in touch with our Credit Rehab team today.