How to Remove Debt Review From Your Name: A Step-by-Step Guide

By Princella Esther Agyei Certified Credit Counselor & HR Manager, HR People Associates

Making the decision to enter debt review was a brave first step toward regaining financial control. But now, perhaps years later, you’re in a better position. You’ve been diligent with your payments, your circumstances have improved, and you’re ready for the next chapter: life after debt review.

The question on your mind is likely a pressing one: “How do I get this debt review flag off my name?”

The internet is filled with confusing and often misleading information about this process. This guide will cut through the noise. We will provide the clear, factual, step-by-step process for legitimately removing debt review from your credit record, explaining the critical role of the Clearance Certificate and what costs, if any, are involved.

The Only Legitimate Path to Debt Review Removal

Let’s be direct and unambiguous: The only way to successfully and legally exit the debt review process is to complete it. This means fulfilling the obligations of your restructured payment plan.

Any service or individual promising a magical shortcut or a way to remove the debt review status while you still owe the original debt is likely misleading you and could put you in a worse financial position. The National Credit Act (NCA) is very clear on the procedure, which is designed to protect both you and your creditors.

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There are two primary scenarios for completing the process:

1. Paying Off All Short-Term Debt: You have paid off all the short-term debts (like personal loans, credit cards, and vehicle finance) that were included in your debt review plan. Your home loan may still be active, but it must be up to date.
2. Settling All Debts in Full: You have paid off every single account that was part of the debt review agreement, including your home loan.

Once one of these conditions is met, the formal removal process can begin.

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The Golden Ticket: Understanding the Debt Review Clearance Certificate

The most important document in this entire process is the Debt Review Clearance Certificate (Form 19). This is the official document that proves you have fulfilled your obligations under the restructured plan.

It is not something you apply for yourself. Your registered Debt Counsellor is legally required to issue it within seven business days of confirming that you have satisfied your debts according to the court order.

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Here is the crucial role it plays:

1. Your Debt Counsellor issues the Clearance Certificate.
2. They send this certificate to all your creditors, formally notifying them that you are no longer under debt review.
3. Most importantly, they submit the certificate to all registered credit bureaus (like TransUnion, Experian, etc.).
4. The credit bureaus are then legally obligated to remove the debt review flag from your credit profile, effectively clearing your name.

“How Much Does It Cost?” – Unpacking the Fees

This is a major point of confusion. Let’s clarify: there is no official “removal fee” for the debt review flag itself. The service of issuing the Clearance Certificate and notifying the bureaus is part of the service you have already been paying your Debt Counsellor for.

However, there can be associated costs:

• Final Payments: The primary “cost” is simply ensuring all your final payments to creditors are made.
• Debt Counsellor’s Final Fee: Your fee structure should have been outlined at the start. Ensure your final payment to your counsellor is up to date.
• Settlement Negotiations: If you receive a lump sum (like a bonus or inheritance) and wish to settle your debts early, there are no extra fees for this, but it requires coordination with your Debt Counsellor to get the correct settlement letters from creditors.

The Myth of “Free Debt Review Removal”

You may see ads promising “free debt review removal.” This is a misleading marketing tactic. While the administrative process of removal is indeed free of any new charges, it is entirely dependent on you having paid the underlying debt. No legitimate Debt Counsellor can or will issue a Clearance Certificate if the debts are not settled as per the court order.

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Your Step-by-Step Checklist for Exiting Debt Review

1. Maintain Communication: Stay in regular contact with your Debt Counsellor, especially as you approach your final payments.
2. Request a Final Statement: Once you believe you are done, ask your Debt Counsellor for a final reconciliation statement to confirm all accounts are settled.
3. Confirm the Clearance Certificate is Issued: Follow up with your Debt Counsellor to ensure they have issued the Clearance Certificate (Form 19) within the 7-day timeframe.
4. Wait for Credit Bureau Updates: It can take the credit bureaus up to 21 days to update their records and remove the flag from your profile.
5. Check Your Credit Report: After a month, pull your own free credit report from a major bureau to personally verify that the debt review flag has been removed. If it hasn’t, your first point of contact is your Debt Counsellor.

Conclusion

Removing the debt review flag from your name isn’t about finding a loophole; it’s about successfully crossing the finish line of a marathon you bravely started.

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By understanding the process, the central role of the Clearance Certificate, and ignoring misleading promises, you can ensure a smooth and legitimate transition back to full financial health.