I would like to know if it’s possible to apply for a joint bond while in debt review with DebtSafe? I recently joined because I’m looking to get a home for me, my wife and unborn baby due in a few months.
Thank you for your question.
Unfortunately you cannot apply for any new credit whilst you are under debt review. The National Credit Acts prohibits the credit providers and consumers in this regard. Your best option would be to get your debt to a point where you have brought all the arrears up to date, and are able to carry on with your normal instalments under the original credit agreement. You will then be able to exit the debt review and apply for a clearance certificate. At that point in time you might be able to apply for a home loan. Alternative would be to rent a place until your finances are of such a nature that you can easily afford a bond.