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Unlock Your Financial Freedom
If your debt has been paid up, we can assist in removing the debt review status (flag) from your credit report. We do this by issuing you with a debt review clearance certificate.
This clearance certificate grants you the opportunity to legally exit the debt review process so that you can start applying for credit again!
If your debt is not paid up and you are status C or D3, we can still help. Reach out to us today!
While free debt review removal does not exist, Meerkat offers a streamlined and convenient online process.
We aim to save you precious time and money, allowing you to focus on rebuilding your financial future. At More Solutions, we're here to support you every step of the way and help you reclaim control over your financial well-being.
HAVE YOU BEEN STRUGGLING OR UNABLE TO CLEAR YOUR DEBT REVIEW? IF SO, WE CAN HELP!
I HAVE CANCELLED THE DEBT REVIEW AND PAYING MY OWN ACCOUNTS, BUT I AM STILL LISTED UNDER DEBT REVIEW?
If the debt review services were already cancelled by the consumer and the consumer is paying the accounts that were under debt review directly, the debt review listings will not automatically be removed from a consumer’s credit report and can also not be removed by a debt counsellor due to legal limitations.
This means a consumer will still be listed and flagged with a debt review status, even if the debt counselling services were already cancelled by the consumer, and even if the consumer is paying the creditors directly.
HOW IS THE DEBT REVIEW LISTING REMOVED?
Step 1: CLEARANCE CERTIFICATE
If all debts listed in the debt review court order or in terms of the debt review repayment agreement (excluding a mortgage bond account) is settled in full, the consumer will qualify for a clearance certificate.
Paid-up letters from all the credit providers must be obtained and submitted to the debt counsellor and the debt counsellor must issue a clearance certificate also known as a Form 19 in terms of section 71 of the National Credit Act.
We assist consumers to obtain clearance certificates where the consumer is struggling to obtain paid-up letters from the Creditors and/or struggling to obtain the clearance certificate from the debt counsellor.
Step 2: COURT APPLICATION:
This option will apply if the consumer has cancelled the debt review but has not yet settled all the debts which were subject to the debt review process:
To clear the debt review listing and status, a court application to the Magistrate’s Court in terms of section 87(1)(a) & 88(1)(b) of the National Credit Act is necessary, resulting in a formal debt review cancellation order issued by the Court.
This court issues a debt review removal court order which instructs the NCR and the credit bureaus to remove the debt review listing from your credit profile and ITC-records.
If a previous debt review court order was granted, there are certain circumstances in which the existing debt review court order can be rescinded and the debt review listing will also be expunged from your records.
The debt review removal court order in essence has the same effect and carries the same weight as a clearance certificate – and that is to remove the debt review listing from a consumer’s credit report- and profile.
Once the debt review removal court order is granted, the court order with the supporting documents are sent to the NCR and credit bureaus to remove the debt review flag.
The process takes approximately 8 to 12 weeks to finalize.
We assist clients and launch these court applications on behalf of the consumer.
