# 1 in Free Debt Review Removal

Free Debt Review Removal. Is it at all possible?

There is no such thing as a free meal! Does this saying also apply to free debt review removal? Let us see if it is at all possible, and if so, how easy can it be done.

According to the National Credit Act, one can only remove a consumer from debt review if the following criteria are met.

• The consumer has paid up all his debt under his re-arrangement agreement.

• The consumer paid up his debt under his re-arrangement agreement except for his home loan.

• or the consumer had a change in financial circumstances for the better.

Let us unpack each of these criteria and see if free debt review removal will be possible under them or not.

The consumer has paid up all his debt under his re-arrangement agreement:

If a consumer has paid up all his debt under his re-arrangement agreement, free debt review removal is indeed possible. The consumer’s debt counsellor must issue and clearance certificate to all the credit agencies once all his debt is settled. Free debt review removal can apply and no fees need to be paid. In cases where the consumer can no longer get hold of his debt counsellor, fees may apply. If this is the case, the NCR must transfer the consumer to a new debt counsellor. Transfer and application fees may apply.

The consumer has paid up all his debt under his re-arrangement agreement except for his home loan:

The same applies to this scenario, and free debt review removal is possible. A consumer is allowed to exit debt review by The National Credit Act if the only debt he has left is his bond. The consumer’s debt counsellor will issue a clearance to all the credit agencies. Once this is done, the consumer continues to pay his bond as per usual. In cases where the consumer can not get hold of his debt counsellor, he can request a practising debt counsellor to assist him, as explained above.

The consumer has had a change in his financial circumstances for the better:

Tough times don’t always last! Many consumers find themselves in a better financial position after a while but are still trapped in the debt review process. In this scenario, free debt review removal will not be possible. The main reason for this is that a court of law must agree that the consumer is no longer over indebted.

The court application is a costly exercise but well worth it if you want to apply for credit such as vehicle finance or a home loan. The main criteria for this scenario to succeed are that the consumer must prove that he will pay his monthly credit obligations again. To prove this could be easy. Especially if your income increased and your debt decreased.

We will be happy to remove you from the debt review process. For a quick chat on how we can help, you are welcome to leave your contact details below.

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