With the ever-increasing cost of living many South Africans are swimming in a pool of debt with no life-boat in sight. According to the credit bureau statistics reported for the quarter ended June 2013, the number of consumers with impaired records increased by 189,000 to 9.53 million from 9.34 million in the previous quarter. If […]
27 November 2012
If you wish to exit debt counselling, it be done in the following instances:
- All debt under debt counselling is settled or all debt excluding your home loan- this allows a clearance certificate to be issued and the credit bureaux to be updated accordingly.
- A Form 17.2 has not been issued, which is only applicable to clients within the initial week of application- This allows a Form 17.W (a) to be issued.
- The Debt rearrangement order is rescinded- This allows a Form 17.W(c) to be issued.
- A court order declaring solvency is obtained, this would be applicable if a debt rearrangement order was not obtained and you are able to afford your living expenses and your debt obligations- This allows a Form 17.W (d) to be issued.
Please note withdrawal guidelines was issued by the National Credit Regulator on the 19th February 2015. The 17.W form replaces the 17.4 form, prior to these guidelines receipt of this form was sufficient to update your credit report.
If you would like to find out more information on the withdrawal process, please click here.