✅ What Happens After You Finish Debt Review?

The Clearance Certificate Process Explained

Once you’ve completed your debt review payments, there is a formal legal process that must take place to remove the “under debt review” status from your credit profile. This is done through a Clearance Certificate issued by your debt counsellor.

Here’s how it works step by step 👇

🔓 1. All Debts Must Be Fully Settled

Before a clearance certificate can be issued:

✅ Short‑term credit must be paid in full:

• Credit cards
• Personal loans
• Store / retail accounts
• Vehicle finance

🏠 Home loan (bond) conditions:

Your bond does not need to be paid off, but it must be:

• ✅ Up to date (no arrears), and
• ✅ Re‑arranged back to normal contractual terms

👉 If you do not have a home loan, then all debts must be paid in full.

📄 2. Debt Counsellor Issues a Clearance Certificate

Your debt counsellor will issue a Form 19 Clearance Certificate once they have:

• Received paid‑up letters from all creditors included in the debt review
• Verified that all obligations have been met
• Confirmed that accounts are settled and compliant

🔐 Certification:

• The clearance certificate is officially certified
• It lists all accounts that originally formed part of the debt review application

⚠️ Only a registered debt counsellor can legally issue this certificate.

📡 3. Notifications to NCR, Credit Bureaus & Credit Providers

After issuing the certificate, the debt counsellor must:

✅ Update the National Credit Regulator (NCR)

Through the Debt Help System (DHS) with one of the following statuses:

• F1 – All debt settled, and you are exiting debt review with a bond that is up to date and maintained at contractual instalments
• F2 – All debt settled (used when no bond exists)

✅ Notify supporting institutions:

• Upload the clearance certificate and paid‑up letters to the Credit Bureau Association (CBA) platform
• Send the clearance certificate and paid up letters to all major credit bureaus, including:
  • TransUnion
  • Experian
  • XDS
  • Compuscan
• Send copies to all creditors that were part of the debt review

🧾 4. Removal of the Debt Review Flag

Once processed by the credit bureaus:

• ❌ The “Under Debt Review” indicator is removed
• ✅ Accounts are updated as paid or closed

⏱️ This process typically takes 7–21 business days, depending on bureau update cycles.

✅ 5. You Are Officially Cleared

Once removed:

• You can apply for credit again
• Lenders will see a cleaner, updated credit profile
• You regain full financial control

⚠️ Important Things to Watch Out For

• 🚫 Do not attempt to exit early: Only a debt counsellor can issue a clearance certificate
• 🔍 Check your credit report 2–3 weeks after clearance
• ❗ If anything still shows incorrectly:
  • Dispute it directly with the credit bureau
  • Ask your debt counsellor for assistance

💡 Pro Tip: Keep These Documents Safe

Ask your debt counsellor for copies of:

• ✅ The certified clearance certificate
• ✅ All paid‑up letters
• ✅ Proof that your status was updated on the NCR Debt Help System (DHS)

These documents are critical in case of future disputes or credit applications.