Short answer:
No — while you are under Debt Review, you cannot apply for new credit or use your existing credit cards. This includes loans, store accounts, and any additional forms of credit. (This also answers: “Can I get a loan while under debt review?” — the answer is no.)
Why Can’t I Take on New Credit?
Debt Review is a legal debt relief process designed to help you repay your existing debts in a structured and affordable way.
Taking on new credit would:
- Increase your financial burden
- Undermine your repayment plan
- Put your Debt Review status at risk
This restriction is in place to help you focus on becoming debt-free.
What Happens During Debt Review?
While under Debt Review:
- All your debts are consolidated into one affordable monthly payment
- Your debt counsellor manages communication with your creditors
- You are protected from legal action and new adverse listings
(Learn more about how this affects your profile: How Will Debt Review Affect Your Credit Record?)
When Can I Apply for Credit Again?
Once you have successfully completed the Debt Review process:
- You will receive a Debt Review Clearance Certificate (Form 19)
- Credit bureaus will update your credit profile
- You can then apply for credit again if needed
(Read more about the process: What happens when I complete the debt review process?)
The Bigger Picture
Although it may feel restrictive, this step is essential to help you regain financial stability. Debt Review gives you the opportunity to reset your finances without falling deeper into debt.