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Answer for How Do I Clear My Name After Cancelling Debt Review?

Hi there, 

Thank you for your question. 

What you must keep in mind when your debt review is cancelled is that your debt review will be listed on your credit profile until a Form 19 is issued. This can only happen when your original installments according to original contractual terms can be maintained or if your debt is settled. So I would advise the following to clear your credit record: 

If you want to clear your credit record I would not suggest that you settle all the arrears accounts immediately. Bring the arrears up to date first, and then pay the correct instalments for about 3 months, and then settle the accounts. 

If the last status of an account is “in arrears” and you settle it on that status, your credit score will take longer to improve. If you pay the arrears and make regular payments for 3 months an all accounts are up to date it will reflect better on your credit score. 

I would suggest that you pull your credit report from TransUnion; and review your score. You will be able to see exactly what the status of your credit profile is. Remember that every time you apply for credit, it is also recorded on your credit profile, whether or not it has been granted. Multiple credit applications also negatively affect your credit score.  

Have a great day.