How do I cancel my Debt Rescue?
A: Request a clearance certificate from your debt counsellor and submit it to the credit bureau. The credit bureau will then remove the debt review status from your credit report.
What happens if you skip a debt review payment?
A: If you miss a payment it will give your creditors enough legal reason to terminate your Debt Review and begin legal action against you. ... Also, if your payments are in arrears no further work will be done on your application until payments are a 100% up to date (even if a payment arrangement was made).
How do I remove a debt review under my name?
The key to clearing your name after Debt Review lies in obtaining a Clearance Certificate, which essentially serves to prove that you are debt free. Once this certificate reaches the credit bureaus, they will then proceed in removing the debt counselling flag from your name and off your profile.
How do I cancel a debt review?
Unless all the accounts are paid up or the consumer becomes entitled to a clearance certificate, the only way to terminate the debt review process, according to the NCR's Withdrawal from Debt Review Guidelines, is to apply to court for either the rescission of the debt review order if one was obtained, or for a ...
Can I pay my creditors directly while under debt review?
Can I pay my creditors directly while under debt review? You can work directly with your credit providers if you are having a short-term cash flow problem and you reach an agreement in writing with them to start paying off your debts.
What is the difference between debt review and debt Counselling?
The debt counsellor will renegotiate interest rates and repayment terms with your credit providers to reduce them. The benefit of debt review is that it can protect your assets from being repossessed by the credit provider.
How long does debt review last?
Ever wondered how long does debt review last? The short answer would be between 24 to 60 months, but there are a lot of factors that determine this. Each person applying for debt review will have different financial circumstances so it is very difficult to say how long the process will take.