voluntary withdrawal from
Previously the form 17.4 was used to remove consumers prematurely from debt review it stated that you are no longer under debt review, but not rehabilitated. The debt review listing on the credit bureaus will be removed within 21 days days but the record of your payment/default history will remain on the bureaus only a clearance certificate would remove all your defaults and payment history.Key points to remember when cancelling or volunteering to withdraw debt debt review:
If you cancel debt review program early, you will then have to go back to paying the original repayments and interest rates, as well as possible additional debt review cancelation fees that may be levied by the lawyer. You will no longer be protected from legal action that credit providers might take against you. Which means, you will be at risk of having your home and car repossessed. In order to withdraw from debt review or debt counseling before clearance certificate is issued, below conditions will have to be met :
Option 1 - pay all of your debt off under debt counselling first and then you can qualify to be withdrawn from debt review.
Option 2 - The National Credit Amendment Act now allows consumers to voluntarily withdraw from the process, without having to settle their debts completely. If you feel like you are ready to take this step, fill in a form at the bottom of the page and one of our affiliates debt review specialists/attorneys will call you.
The process starts with you giving permission and confirming that you would like to cancel debt counseling or debt review. an assessment will be made of your current affordability to determine if you qualify to be withdrawn from Debt Review before a clearance certificate is issued, with cancellation of your debt counseling on itc, there are certain implications that you would need to be aware of before we can begin the process, but this can be discussed in more details. Please note that you must be certain that you want to withdraw your debt review commitment, since your protection from creditors will be no more.
About our services
We are specialists in: Cancellation of Debt Review - Debt Mediation - Debt counseling - debt settlement negotiations - Rescission of Magistrate Court Judgments - Rescission of High Court Judgments - Rescission of Administration Orders - Removal of trace alert listings - Removal of default listings - Updating of poor payment profile - trace alerts removal - credit score improvements - Early termination of debt counseling.
We are experts in: Credit Repair - National Credit Act(NCA) - National credit regulator(NCR) - Consumer Protection Act - administration - consumer rights - consumer law - consumer complaints