I would like to find out if it is at all possible to cancel my debt review?
I have a good enough salary to take care of my original monthly payments.
I am currently under debt counselling from Debt Busters but I’d really like to get out of it.
They have told me that I need to get a letter from the court stating that I am able to continue with my payments as per normal?
How do I even go about starting that?
Any help would be greatly appreciated.
Thank you for getting in touch.
Cancelling your debt review is possible.
If you cancel debt review before receiving your Clearance Certificate you need to consider the following:
When a debt review is cancelled, the original credit agreement is revived and the creditors are free to proceed to enforce their rights in terms thereof. That is why we urge consumers not to cancel without making prior arrangements with creditors. First, reach a written agreement with the creditor about the capitalisation of all payments in arrears and the resumption of the original instalments prior to cancelling your review and losing your protection.
What you must also keep in mind is that your debt review will be listed on your credit profile until your Clearance Certificate issued. This can only happen when;
1. you have brought arrears up to date and are able to pay original instalments, or
2. if your debt has been settled.
So if you have reached one of the above you can ask your debt counsellor to provide you with a Clearance Certificate.