Short answer:
When you enter Debt Review, your credit report will indicate that you are repaying your debts under this legally protected process.
While under Debt Review:
- You cannot apply for new credit until your debts are cleared.
- Your accounts included in Debt Review are protected from adverse listings, repossessions, and legal action. (See more: Can I be “blacklisted” by Credit Providers while I am under Debt Review?)
What Happens After You Complete Debt Review?
Once all your debts are repaid:
- Debt Rescue issues a Debt Review Clearance Certificate (Form 19).
- The certificate is submitted to credit bureaus to update your credit record.
- You can then apply for new credit, as your credit profile reflects that your debts have been settled.
Important: A Clearance Certificate can only be issued if all short-term debts (excluding home loans) that were part of the Debt Review have been fully settled.
Why Debt Review Is Safer for Your Credit
Debt Review is much safer than juggling payments or missing instalments. Falling behind on payments for a home loan, vehicle, or store card can leave a lasting negative mark on your credit report, making future credit approvals more difficult. By entering Debt Review:
- You gain a structured repayment plan.
- You are protected from creditor harassment.
- You rebuild your financial stability in a legally compliant way.
(Learn more about how your credit profile is protected during Debt Review: If I am placed under Debt Review, will my Credit Providers still contact me?)
