When starting the process, We lets all credit bureaus and credit providers know that you are under debt review. The credit bureaus then flag your profile as ‘under debt review’. While your profile is flagged, you are not eligible to take out any more credit. This is so that you can pay off your debt effectively without the hindrance of more debt.
After completing the process, i.e. your debt is completely paid off, you will be issued a clearance certificate. This certificate is known as Form 19.
Thereafter, we will notify the credit bureaus that you are debt free! The credit bureaus are legally required by the National Credit Act to remove the ‘under debt review’ flag from your credit profile within 21 business days of being notified that you are no longer under debt review.