14 Aug Why My Credit Report Still Shows Debt Review?
The process of clearing your debt and credit during and after debt review is a journey of structure and time. Nothing happens overnight, and sometimes, unforeseeable delays can be frustrating. As professionals in ITC clearance, we know how to legally remove debt review from your record. This step is essential to regaining control of your finances.
Wondering, “Why my credit report still shows debt review?” The good thing is that you have assessed your profile and are asking the right questions. Your credit report represents your financial responsibility, and if it is not updated, it can hinder your future. Not sure where you stand? Here is how to check if you are under debt review.
Reasons Your Credit Report Shows Debt Review
Being in control of your finances means ensuring that your credit report accurately portrays your circumstances. If you have completed debt review, you’ve already put in the dedication to overcome your financial troubles. These are the most likely reasons your credit report still shows debt review:
Clearance Certificate Not Submitted: In most cases, the debt review flag should be removed within 21 business days of receiving your credit clearance certificate (Form 19). Your debt counsellor is responsible for issuing this certificate to both you and the relevant credit bureaus. Here are some possible reasons you can’t get a clearance certificate.
Credit Bureaus Experiencing Delays: Don’t be alarmed if your credit report still reflects debt review after the 21 days. Delays are not uncommon and could happen for various reasons. Let us know if you need assistance, and we can request an update on your case.
Admin/Communication Errors: The delay in debt review removal may be due to admin or communication issues. Simple mistakes, like missing documents or incorrect account details, can affect the process of your credit report clearance.
Outstanding Debts: The debt review process is only settled when you have repaid all your debts under the agreement. The clearance process can only take place afterwards. Let our team help you achieve a fresh start: removing debt review and taking control is the most important step.
Debt Review Removal
For the best results in debt review removal, enlist the services of our Cape Town Legal Consultants team. We can file a dispute with the credit bureaus on your behalf, assisting you with all the important details that need to be completed 100% accurately.
When asked the question, “Why my credit report still shows debt review?” we take it on a case-by-case basis. No two journeys through and after debt review look the same, and we’re here to ensure you can enjoy a good credit score. CONTACT US to get started today.