What can I do to cancel my debt review? The lady that is helping me keeps ignoring all my mails.
Thank you for your question.
Cancelling your debt review is possible. A signed letter with an instruction for us to cancel is all it takes. A cancellation fee of 75% of the debt counsellor fee is payable if you have not yet paid your first instalment and we have calculated your payment plan.
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. We often assist them to do so. 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 a Form 19 is issued. This can only happen when;
- you have brought arrears up to date and are able to pay original instalments, or
- if your debt has been settled.
This has been implemented because there were consumers who misused the process to avoid paying their debts, and who then jumped from one debt counsellor to another.
Hope this info helps.