Thursday, 9 April 2015

How long for credit record to clear after debt review? l Tags: debt, debt review, debt counselling, credit report, transunion

A Fin24 user has finished a debt review programme and wants to know how long it will take for her name to be cleared on her credit report. She writes:
I just finished my debt review and was issued a clearance certificate. How long does it take for the credit bureau to clear everything for me to have a positive credit check?
Tersia van Rooyen from TransUnion responds:
I would suggest that the consumer get their credit report- available free every 12 months on 0861 482 482.
The credit report will display if the consumer is no longer under debt review on the front page of the credit report.
If the credit report does indicate that the consumer is still under debt review, please call our dispute centre on 0861 886 466 and request that they investigate why the clearance certificate has not been received and the credit report not updated.
Comments by Eugene Prinsloo Partner at Meecham, Prinsloo & Associates
This reply by Tersia van Rooyen does not answer the consumers question.
Debt review / debt counselling will reflect on your credit status for a period of 6 months after you have stopped the process. In most cases this listing appears for years after so you will have to check and make sure. However, individual listings by credit providers might still appear on your profile as late payments or defaults for a period of 2 years.

What our clients say

What our clients say...

" you literally saved my life, I was paying more than R8000 per month on debt counselling, now more than 80 % is legally written off and the balance I can pay off at R1700 per month. Thank you, thank you, thank you"
Steven from Durban vgl

"For 3 years I have been under debt counselling and my debt just increased. In 90 days my debt was wiped out and I could make a fresh start. Thank you Eugene"
Louise from Kempton Park

"I had more than R300 000 in debt. Now I have zero"
Thato from Durban

"On debt review by debt kept increasing, now I have a consolidated reduced debt that I can settle in easy monthly installments.
JP Smit Kempton Park

"Ek het my huis en kar verloor en die bank het nog steeds betaling gesoek. Sekwestrasie het dit gestop"
Danie Pretoria