Can I apply for a home loan or vehicle finance once I exit debt review?
Yes, however, it is important to understand that by law no new debt can be granted whilst a client is under debt review. This is to afford the consumer maximum opportunity for a successful rehabilitation of his finances.
Debt-911 is obliged to inform credit bureaus and lenders that a consumer has entered debt review.
Should a client diligently maintain their debt repayment obligations whilst under debt review, the client exits the process with a valuable debt clearance certificate which we issue. Debt-911 communicates this achievement to all credit bureaus and the consumer emerges from the process with his credit record intact.
This will make it much easier to apply for credit once the process has been completed.
Don’t rush back into credit
Debt-911 advises that clients think carefully before rushing back into credit. Once a consumer is on the path to debt freedom, it is wiser to spend some time to draw up a revised budget and to plan for the purchase by setting some money aside every month.
It is prudent to get into the habit of diligently setting aside some money every month for a rainy day.
Invest in your future
Educate yourself about investing and do your utmost to prevent becoming over indebted. If you must make purchases on your credit or store cards, aim to clear the entire amount at the end of each month or at the very least, be sure to pay off more than the monthly minimum.
Debt-911, your trusted debt counselling partner
If you are concerned about the affordability of your debt repayments, simply call us, SMS Help to 40935 or fill out the form alongside and a highly trained, Debt-911 counsellor will make contact with you to assess your personal financial situation and give you free advice.