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Cancel Debt Review

Questions & AnswersCategory: Debt ReviewCancel Debt Review
Dirk asked 4 months ago

Hi
I have been under Debt review for 3 years now . My remaining debt is at about 140 000. Would it be possible to cancel my debt review , wait a month or two and then apply for debt consolidation loan ?

  1. Will an institute like yours help me ?
  2. When paying a debt consolidation loan , would you be able to apply for a home loan ?
1 Answers
Carien Kruger Staff answered 4 months ago

Good day, 

No, you won’t be able to take out a consolidation loan or a home loan. 

When you cancel your Debt Review before successfully completing it, it will remain listed on your credit record. 

And with a Debt Review listing on your credit record, you are not allowed to acquire more credit, like a consolidation loan. 

To get the Debt Review listing removed from your credit record you need a Clearance Certificate. A Clearance Certificate will only be issued when; 

1. you have brought arrears up to date and are able to pay original instalments, or
2. if your debt has been settled. 

We can only help you with Debt Review since we are a Debt Review company, we do not issue loans. 

Hope this info helps. 

Kind regards