How to clear your name after debt review/debt counselling?

The stress and discomfort of being under debt review is hitting a lot of people these days, especially with the looming reality that we are currently in extra troubling times due to COVID. This can be a double factor stressor.

The questions that a lot of people have is, “Can my name be cleared after being under debt counselling? and “Can I have a normal life after being under debt review?”, the answer to these questions is below, and it IS positive.

It is extremely important that you know that your name can indeed be cleared after you have been under debt review, you can start over again.

Debt counselling is a method created to assist people who have reached their limits with their credit records, and there seems to be no further outcome, or to assist anyone that decide they want to clear their name and have a clean credit record, and that is where debt review comes in, to assist you in paying your creditors whilst also ensuring no further credit is being made, a debt counsellor assists you with this process.

These concerns could have an impact on your thoughts for the future, so, if you ever had the question “Will I be able to start over on a new blank page?”, the answer is YES!

Debt review removal is a process by which your name is cleared, providing you have abided with the conditions provided by your debt counsellor and repaid your creditors as per the arranged repayment terms. Read our Debt Review/Debt Counselling Removal: A Simplified Guide Blog for more detailed information on the debt review removal process and outcomes.

This means that upon successful completion of the debt counselling and receival of your clearance certificate, the record of the debt review will no longer be against your name at the credit bureau and will not be on your credit report at all, which in return means that you can start over without the concern of the debt review being against your name and without the concern that it appears on your credit record.

You can proceed to make new credit applications once your name has been cleared from the debt review; you can also leave the debt review program earlier than the full term if you can provide proof of affordability as per our previous blog.

The fact is, if you are concerned about the future once being placed under debt review, you now know it is possible to remove the debt review record from your name and start over, you do not have to question this any longer.