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How Do I Clear My Credit Profile?

Questions & AnswersCategory: Credit ReportHow Do I Clear My Credit Profile?
JT asked 7 months ago

Hi guys,
I managed to settle all the debt that was listed on my name in March this year. I have the settlement letters
1) How do I clear my name on the credit bureaus? I pulled a report from TransUnion and all the outstanding amounts are still reflecting.
2) My bank states that my name is listed under still being under debt review, how do I go about clearing this?

1 Answers
Carien Kruger Staff answered 7 months ago

Good day,

Thank you for getting in touch and well done on settling your debt!

Your debt review will stay listed on your name until you receive a Clearance Certificate from the debt counsellor. This can only happen once:
1. you have brought arrears up to date and are able to pay original instalments, or
2. if your debt has been settled.

Since your debt has been settled you can request your Clearance Certificate from your debt counsellor. They will then send it to your creditors and the credit bureaus, who are then required by law to remove your debt review listing from your name.

In theory, you should be able to apply for credit again within a week of receiving your Clearance Certificate. But, credit bureaus usually take longer than that to get your record cleared. Pull your credit report about one month after you’ve received your Clearance Certificate, then check your credit score and payment history. If there are any discrepancies you can lodge a dispute with that credit bureau.

Kind regards