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Future Credit

Michelle asked 2 years ago

Good Day,

If I choose to undergo debt review how does this process affect my future credibility / credit rating?
Example: bond applications, etc?

Please advise

1 Answers
Matthys Potgieter Staff answered 2 years ago

Hi there,
Thank you for getting in touch.
Once all debt has been settled through debt review a clearance certificate is issued. This certificate is sent to all credit bureaus that are then, according to the National Credit Act, required by law to remove all records pertaining to the debt review. That means all adverse listings and negative information must be removed from your credit record once the debt has been settled. Even judgement listings. Therefore you will be able to enjoy a credit record that is in good standing and will be able to apply for credit after your debt review has been successfully completed.
Kind regards