Can you qualify for a loan if you are under debt review?

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It’s important to make sure that your credit score is good before you apply for a new credit because if your application for a new loan is denied, it will have a negative impact on your credit score. As a legitimate company, Freedom Debt Relief has helped clients reduce debt and pay off unsecured debts such as student loans and credit card debt. Most lenders don’t want to work with you immediately after a debt settlement.

Can I buy a house in South Africa after the debt check?

For some, the thought of loans can be quite scary as they are afraid of returning to the situation where they had to drown in debt. Your credit profile is marked as a debt check, which causes lenders to prevent you from getting more loans. As a result, your customers have repaid all their debts as part of the debt review. You’re free to take out loans again and are allowed to buy a house, car,. Contact credit agencies if the “Debt Review” %26 Standard Offers flag has not been removed within a reasonable time frame.

How long does it take for the debt review to be completed?

Pursuant to point 2 above and as further explained in the National Credit Regulator’s Debt Review Removal Guidelines, the debt review process can only be terminated if the consumer requests the court to cancel the debt review order if one has been obtained, or if it is found that That the consumer is no longer over-indebted. Continuously implement your personalized 5-stage debt management plan to ensure you’re taking on what you can afford and avoid over-indebtedness. If you have missed a debt payment or have debt collection accounts, this can remain in your credit profile for up to 10 years, depending on the situation.

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