
09 Jan Debt Review Done? Get a Debt Clearance Certificate
How To Get A Debt Clearance Certificate After Debt Review.
Living in large amounts of debt can be tricky, and significantly contributes to depression and anxiety as a result of the financial pressure it puts on families and individuals alike. You might wish to attain a debt clearance certificate after a debt review to alleviate bad credit and receive financial freedom.
This process begins after you have completed the debt review process in alliance with a registered debt counselor. Debt Clearance can be life-changing!
Read on to discover factors affecting debt clearance certificate processing.
How Long Does It Take To Get A Debt Clearance Certificate?
Usually, applying, submitting Form nineteen, and gaining approval for a debt clearance certificate takes about three to six months, sometimes more.
It all depends on:
- How long debt review takes.
- How long NCR takes to verify everything– this can take many weeks.
- The time taken to issue the certificate– can take days to weeks.
Factors That May Further Affect Time Taken For Issue of Debt Clearance Certificate:
- Backlog at NCR.
- Missing information in the application.
- Delays in communication– either between creditors, your counselor, or the NCR.
How To Get A Debt Clearance Certificate Faster
There are a few steps one could take to move along issue or approval of the debt clearance certificate.
For instance:
- Be sure all documents are complete, correct, and submitted on time. Your debt counselor should help you with this.
- Communicate quickly and concisely with all parties involved.
- Work with experienced debt relievers and counselors. We suggest Credit Boost.
Get excited about an improved credit score, access to better loans, and reduced financial stress!
What Happens After I Get My Debt Clearance Certificate?
Congratulations! You’re officially debt-free.
What happens next?
- Freedom from debt review. You’re officially responsible for your finances again.
- The debt review flag is removed from your credit profile. This means you may now request credit again.
- Reduced financial stress. You no longer have to worry about debt.
Good vs. Bad Debt
To avoid undergoing debt review again, it’s important to remember to practice good financial habits. For example, not gaining debt over frivolous spending, like that overpriced fancy car or a holiday. It’s important to take out loans only for appreciating assets, like real estate.
Here are best practices to ensure good credit going forward:
- Monitor your credit.
- Develop a budget and stick to it.
- Pay bills on time.
- Consider debt counseling resources.
Work With Debt Experts
In these times, it’s tough to get by, especially with ever-rising inflation and unbudging salaries. It’s time to get in control of your finances. The moment you enter Debt Review, you gain protection from negative action taken by repossession agencies, banks, and creditors.
At Credit Boost, debt review is as easy as getting in touch with an NCR (National Credit Regulator) approved debt counselor through Credit Booster.
Get protection with the best debt counselors. We’ll assist in attaining a clearance certificate.