How do I remove debt review online? (2024)

Debt Solutions

Moku | 5 July 2024

How to remove debt review online

If you have ever wondered if you can remove yourself from debt review, you can’t. However, a registered Debt Counsellor can.

You can start your online application to remove debt review here.

You can only remove debt review if you meet the following requirements:

You can be removed from debt review if:

You have paid up all your debts, according to the debt restructured plan(debt agreement) that was set-up by your Debt Counsellor.

How can you legally exit debt review?

You can only terminate debt review if the debt review flag/ warning is removed from your credit report. For this debt review flag to be removed, credit bureaus need to be issued with a debt review clearance certificate. This clearance certificate indicates that you have successfully completed the debt review (debt counselling) process.

It’s important to note that the only individual who can issue a clearance certificate is a registered Debt Counsellor.

Remove debt review in South Africa with Meerkat online.

How can I check that my Debt Counsellor is registered?

Before agreeing to go with a business or a Debt Counsellor that claims they can remove you from the debt review process, check to see that they have registered with the National Credit Regulator (NCR). You can search for this person or businesshere.If they do not come up, they are not registered, and you should steer clear from them. It could, very likely, be a scam.
A quick search reveals that Meerkat, and our Founder & CEO, David O’Brien is registered with the NCR.

@mokumeerkat How do you get removed from the debt review process? Watch this video with Founder & CEO of Meerkat to find out. Visit https://connect.meerkat.co.za/clearance-certificate-lp to start your easy online application. #debtreviewremoval #debtreview #debtfreecommunity #legaldebtreviewremoval #canceldebtreview #debtreviewcancellation ♬ original sound - Moku | Do more with your money

How long does it take to remove the debt review flag?

If you were previously declared over-indebted, and because of this, applied for debt review, the duration of the entire process is dependent onhow much debt you have. However, it usually is aboutfour-five years.

Lawyers that remove debt review

Free debt review removal is not an option. There will always be fees for debt counselling or legal services involved.
Consumers should also be wary of lawyers promising debt review removal services. Usually, these services may come at very high costs to the consumers. Any debt review removal service that charges you over R5000 is exploitative.

How does debt review removal work?

Here's a step-by-step guide about how you can be removed from debt review online:

Fill in our easy online application.
If you have your paid up letters from your creditors, you upload them. If you don’t, but have still settled your debt or you have prescribed debt, we can get the necessary paid-up letters for you.
Credit record retrieved. At this stage, we will see if you have a debt review flag/warning on your credit report. This will determine whether or not we can assist you.
Once we have determined you do, you will then be requested to pay the application fee.
We make contact with your creditors and the credit bureau to update their records to indicate that your debts have been settled or prescribed.
Your debt review clearance certificate is issued and a copy issued to the credit bureau. After the credit bureaus receive your debt review clearance certificate, your credit profile is updated and the debt review flag removed from your profile.

You are now free to start applying for credit again!

If you have paid up all your debts and you cannot find your Debt Counsellor, we can get you cleared. Begin your online application now.

MyMeerkat FSP is an authorised financial services provider (FSP 50979) and registered debt counsellor (NCRDC2613)

How do I remove debt review online? (2024)

FAQs

How do I remove my debt review status online? ›

You cannot remove yourself from debt review, but you can get a registered Debt Counsellor to do so. They will do this when they issue you with a clearance certificate.

Read On ›

How can I finish my debt review faster? ›

In most cases, getting to the end of the review process faster can be as simple as paying extra, either as one lump sum or by paying a little extra every month.

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How much does it cost to remove a debt review? ›

How much does it cost to remove debt review? If you have all your paid-up letters from creditors, it will cost you R1150 including VAT to be removed from debt review. If you don't have all your paid-up letters, we can still help you. It will just cost you more because we have to retrieve those paid-up letters.

Can I cancel my debt relief program? ›

A debt management plan (DMP) isn't legally binding, so you can cancel it if you feel it isn't working for you.

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Can I cancel my debt review? ›

The Court confirms that a consumer may exit the debt review only in terms of Section 71 of the National Credit Act. This section directs that all debts, but for a bond or long-term agreement, has to be settled, whereafter the consumer should request a clearance certificate from his or her debt counsellor.

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How long can it take to be removed from debt review? ›

Realistically, the debt review cancellation process can never take less than 60 days. Firstly, the court application must be prepared and a court date must be obtained. The court date is never likely to be less than 2 weeks away, as the court application must be served on the debt counselor and the creditors.

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How do I remove myself under a debt review? ›

Once a debt review order is obtained, a consumer cannot simply terminate or withdraw from the process. However, they can approach the Court to rescind the order or request a new order declaring that they are no longer over-indebted. This requires obtaining a subsequent Court Order related to the previous application.

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When can a creditor terminate debt review? ›

A: Creditors have the right to terminate your Debt Review when: Payments are not received according to the payment plan. The amount being negotiated is not accepted. When a counteroffer is not accommodated.

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What is the longest you can be under debt review? ›

Typically, individuals complete the debt review process within 36 to 60 months (3 to 5 years). However, this timeline can be adjusted based on your unique financial circ*mstances and commitment to the repayment plan.

How do you ask for debt to be removed? ›

How can you remove collections from a credit report?

Step 1: Ask for proof. ...
Step 2: Dispute inaccurate collections. ...
Step 3: Ask for a pay-for-delete agreement. ...
Step 4: Write a goodwill letter to your creditor. ...
Step 5: Wait for the collection to fall off. ...
Step 6: Seek professional help.

Sep 11, 2024

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How can I improve my credit score after debt review? ›

How to rebuild a credit score after debt review

Never make late payments or fail to pay your loans.
Don't max out your credit cards.
Close any credit or store cards that you don't make use of.
Regularly check your score and track your habits.

Jun 20, 2023

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How do I legally cancel my debt? ›

Debts may be canceled in a variety of ways, including through negotiations between the creditor and the debtor, debt relief programs, and personal bankruptcy. Debts forgiven by a creditor are generally considered taxable income.

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What IRS form can I use to cancel debt? ›

File Form 1099-C in the year following the calendar year in which the identifiable event occurs. See Exceptions, later. If you cancel a debt before an identifiable event occurs, you may choose to file Form 1099-C for the year of cancellation.

Get More Info Here ›

Can you get your debt forgiven? ›

While forgiveness typically isn't an option, you can pursue debt relief options such as: Bankruptcy: You can file for bankruptcy, which in certain cases includes full or partial debt forgiveness.

How long does it take to clear your name from ITC? ›

7 — 20 days. This is the average amount of time it takes for your name to be removed from the credit bureau's blacklist. In order to accomplish this, you must first pay off your debts. The credit bureau determines your credit score based on your financial history.

How do I clear my credit review? ›

How to remove the debt review status from a credit report

Settle all of the debt under debt review and get settlement letters from creditors.
Get a Clearance Certificate from a debt counsellor.
Notify credit bureaus to update the credit report.

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How do I clear my debt collection? ›

How to get collections off your credit report

Send a dispute. One possible way to get a collection account off your credit report is to dispute the account. ...
Negotiate a pay-for-delete agreement. ...
Ask for a goodwill deletion.

Why am I still under debt review? ›

If a determination of over indebtedness is made, but the restructured payment plan has not been made an order of Court, the consumer will remain under debt review. In such cases, the consumer would have to approach the relevant Magistrate's Court for an order to declare it no longer over indebted.

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