- The National Credit Regulator’s (NCR) Debt Help system status code will be updated to B, G, G1, F2, or F1. Each of these codes represents a different status in the debt review process.
- The debt review listing will be removed from your credit profiles. You can check this by obtaining a copy of your credit report from one of the major credit bureaus. It’s important to regularly check your credit report to ensure that all information is accurate and up to date.
- Your creditors will send you confirmation that the debt review listing has also been removed from their systems. This is an important step, as it ensures that all parties involved in the debt review process are aware that you have completed the process and are no longer under debt review.
- Your debt counsellor will also send you confirmation. This usually comes in the form of a clearance certificate or copy you when he/she forwards the 17.2C together with the court order to the relevant parties.
Here are some additional points to remember:
- It typically takes 21 business days for the credit bureaus to remove the debt review flag.
- If your report still shows the flag after a reasonable timeframe, there might be a delay or an error. You can then follow up with your debt counsellor or the NCR to rectify the issue before you raise a dispute with the credit bureaus.
Got More Questions? We have gathered the most frequently asked questions about exiting debt review here.
