I joined debt review in 2013 but it didn’t help me because my creditors where deducting same time as they deducted, a month later creditors send me letters to let me know they have cancelel the agreement.
I had to negotiate with my creditors for affordable instalment but on the system I still reflect as under debt review.
So I would like to know how can my name be removed because I’ve tried so many time to ask the attorneys from the company I was under debt review to remove my name but they keep on saying I will receive the letter to show my name has been removed, till this day I haven’t received any letter.
Thank you for your question.
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.
Please send an email to [email protected] and we’ll see if we can assist you in this matter.
Have a great day.