How long does Debt Review stay on your name?
Updated: Sep 1, 2020
From the moment that you apply for Debt Review, the law protects you from anyone taking anything you own towards payment of your debt. This includes your house and car.
We will ask your credit providers to make significant sacrifices to help you pay less and part of the deal is that you do not take new debt while this happens. For these reasons it will be listed on the credit bureaus that you are under Debt Review. This listing stays in place until you have paid off all of your debt, except for a home loan.
When your happy DEBT FREE DAY comes, we will issue a document called a Clearance Certificate in your name. This very powerful document not only removes the Debt Review tag from your credit bureau profile, but it also expunges all record that you were ever under debt review or even had problems with the debts that have been cleared.
It is difficult to say how long the process will take without a detailed understanding of your personal circumstances, but at 58-eight we strive to help all of our customers to become debt free in no more than five years. For a professional assessment of your situation make a no obligation and free appointment with us now.