Step-by-Step Guide to Exiting Debt Review Responsibly

Your Guide to Exiting Debt Review

Debt review can be a valuable tool when you’re struggling to manage your finances. But if your situation improves, you may want to explore options for exiting the process. Here’s a breakdown of the steps involved and how CS Clear can help.

Understanding Your Exit Options

The steps for exiting debt review depend on whether you were formally declared over-indebted and if a court order is in place:

  • Scenario 1: No Formal Declaration of Over-Indebtedness If your debt counselor hasn’t declared you over-indebted (Form 17.2 not filed) and there’s no court order, exiting is generally smoother.  Consulting a debt counselor is still recommended. (CS Clear Fee: R1100)

  • Scenario 2: Over-Indebtedness Declared & Court Involvement If you were declared over-indebted or have a court order, the exit process becomes more complex. You’ll need to demonstrate to the court that you’re now able to manage your original debt obligations. This may involve: * Proving your improved financial situation (approval not guaranteed) * Negotiating new terms with your creditors. (CS Clear Fee: R6000)

  • Scenario 3: Court Order & Settled Debts If you have a court-ordered debt repayment plan and have fully settled your debts (excluding a possibly up-to-date home loan), you may be eligible for exit. You’ll need: * Form 19 Clearance Certificate: Only registered debt counsellors like CS Clear can issue this, confirming the official end of your debt review. * Proof of Prescription: If some debts have prescribed, we’ll guide you through obtaining the required documentation (ensuring no recent collection action occurred).

CS Clear: Your Partner in Exiting Debt Review

Scenario 3 ITC Clearance Fees for 2024

We understand the complexities of exiting debt review and offer services tailored to your situation:

  • R 500 – Form 19 Issuance & Status Update: We’ll handle the paperwork and ensure your credit report is updated (you’ll need to provide paid-up letters and a recent credit report).

  • R 2000 – Paid-Up Letter Assistance: We’ll take the burden off your shoulders by requesting paid-up letters on your behalf, ensuring diligent follow-up and removal of debt review status from your credit report.

  • R 2600 – Prescription Debt Management: We’ll manage the process of verifying and addressing any prescribed debts and handle the Form 19 submission process.

Steps to Exit

  1. Initial Consultation:Let’s discuss your situation and the best exit strategy.
  2. Assessment:We thoroughly review your finances and legal standing.
  3. Exit Strategy:We develop a plan tailored to your circumstances.
  4. Action:We help you navigate the legal process, negotiate with creditors, and obtain necessary paperwork.
  5. Form 19 and Credit Clearance:Upon meeting requirements, we handle the final steps.

Important Notes:

  • Attorneys and other legal professionals outside of registered debt counsellors cannot issue the Form 19 clearance certificate.
  • Exiting debt review takes time. CS Clear will keep you informed throughout.

Unlock Your Financial Freedom: Clear Your Debt Review Status

At CS Clear ITC Clearance, we know clearing your debt review status is key to the fresh start you deserve. Debt counselling works, and you’ve worked hard to regain control. Now, let us help you take the final step.

Our expert team will guide you through the ITC Clearance process, ensuring your debt review status is officially removed. Remember, only registered debt counsellors can do this – choose CS Clear ITC Clearance for trusted expertise.

Don’t let your past define your financial future. Contact us today and unlock the possibilities of a debt-free life.

Registered Debt Counsellor Bernidene Thieroff NCRDC 764

Registered Debt Counsellor

Bernidene Thieroff

Registered with the National Credit Regulator: NCRDC764 Bernidene Thieroff
Registered Debt Counsellor Bernidene Thieroff NCRDC 764

Registered Debt Counsellor

Bernidene Thieroff

Unlock Your Financial Freedom: Clear Your Debt Review Status

At CS Clear ITC Clearance, we know clearing your debt review status is key to the fresh start you deserve. Debt counselling works, and you’ve worked hard to regain control. Now, let us help you take the final step.

Our expert team will guide you through the ITC Clearance process, ensuring your debt review status is officially removed. Remember, only registered debt counsellors can do this – choose CS Clear ITC Clearance for trusted expertise.

Don’t let your past define your financial future. Contact us today and unlock the possibilities of a debt-free life.