What debt review is, how it works under the National Credit Act and what it means for your credit profile.
Debt review is a formal process under the National Credit Act (NCA) designed to help over-indebted consumers restructure their debt repayments through a registered debt counsellor.
How the process works
A debt counsellor assesses your finances and, if you are found to be over-indebted, prepares a restructuring proposal for your creditors. The arrangement may then be confirmed by a court or the National Consumer Tribunal.
What it means for your credit profile
While you are under debt review, a flag is placed on your credit profile and you generally cannot take on new credit.
Exiting debt review
Debt review is not a flag that can simply be erased for a fee. The NCR has warned consumers about misleading removal services. Clearance-certificate requirements and withdrawal routes depend on the stage of the process, the debt arrangements and the applicable legal requirements.
What to establish before proceeding
- Whether a court or Tribunal order exists and what it requires.
- Which accounts fall under the arrangement and their settlement status.
- Whether section 71 clearance requirements or another lawful process applies.
- The role of your registered debt counsellor and whether independent legal advice is needed.
CrediSure Consultings provides credit advisory and assistance services. Eligibility and outcomes depend on individual circumstances, creditor responses and applicable legal requirements. No specific result, credit score improvement, debt deletion or loan approval is guaranteed. Information on this website is general in nature and is not legal advice.