30/09/2021
𝐖𝐡𝐞𝐧 𝐜𝐚𝐧 𝐚 𝐜𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐠𝐞𝐭 𝐚 𝐜𝐥𝐞𝐚𝐫𝐚𝐧𝐜𝐞 𝐜𝐞𝐫𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐞?
• A clearance certificate can be given by a debt counsellor when all the debts that formed part of the debt counselling application has been paid in full.
• Alternatively, a clearance certificate can be given
when the consumer can show that:
- He/She is financially stable and can in the future, pay the outstanding debts under long-term credit agreements that formed part of the debt counselling application, such as a home loan.
- The long-term credit agreements that formed part of the debt counselling are paid up to date, but it does not have to be paid in full
- All other debts that formed part of the debt counselling, except for the above, have been paid in full.
• The debt counsellor must, within seven days of issuing the clearance certificate, file it with the National Credit Register and all credit bureaus. All the information relating to the consumer being under debt counselling must be removed from their records.
