Can I purchase a house or car on credit once I have gone through the debt review process?
Yes! Debt-911 clients emerging from the debt review process exit with an untarnished credit record and provided they pay their revised monthly debt repayments diligently, clients are not blacklisted. This is one of the major benefits of entering the debt counselling process.
Debt-911 will inform all credit bureaus and credit providers that the client has entered debt review. Credit bureaus will then flag the client’s profile on their system as being under review. This effectively prevents a client from taking on more debt during the debt review process.
Debt-911 then assists in rehabilitating a client’s financial situation.
Once the client has cleared their debt which is typically between 24 -36 months, Debt-911 will send clearance certificates to all credit bureaus as well as lending institutions, prompting them to remove the under review flag on the clients profile allowing the client to purchase on credit again.
Debt 911 clients are urged not to rush into fresh credit agreements as becoming debt free can be a stressful and overwhelming process. With the rising cost of living, getting by without credit can be difficult, but we urge clients to draw up a monthly budget that includes a savings element which if built up over a period of time will ensure clients can truly live debt free.
Are you feeling the pressure of overdue monthly debt repayments?
If so, call us, SMS Help to 40935 or fill out the form alongside and a registered debt counsellor will call you to assess your personal situation and give you a free consultation.