How can I remove the debt review status from my credit profile?Let's dive into the process of removing the debt review status from your credit profile after applying for debt review. Due to the abundance of people who are dealing with this issue, we felt it was appropriate to start a discussion regarding debt review status removal and what it entails.
Can the debt review inquiry listing be removed? Is there any way to accomplish it?
When someone submits an inquiry about debt review, the NCR mandates that it be documented on their credit profile. The goal is to prevent the individual from accumulating more debt while they are already facing financial challenges.
Is it possible to eliminate the negative listing on the credit profile resulting from inquiring about debt review and thereafter not proceeding with the debt review process?Indeed, the debt counsellor in charge should take care of removing the flag. But keep in mind that the flag can only be removed if the process was terminated prior to entering into negotiations with the creditors.
Are there any alternative methods to eliminate the debt review flag from my credit profile?
Alternatively, once the debts are settled, it is important to submit the paid-up letters as proof of settlement for the remainder of the balances owing. This will help remove the debt review flag from your credit profile. However, it is possible that this will only occur towards the end of the debt review process, unless the debts are resolved earlier.
The National Credit Regulator is closely monitoring this process. So, if you have any inquiries about debt review, it's important to note that larger companies often reach out to creditors right away. Regardless of whether you've signed Form 16. This is where problems arise with adverse listings that cannot be removed after an inquiry has been made.
At CureDebt, we firmly believe that if you haven't signed the Form 16, no adverse listing can be submitted. Further to this, we also believe that individuals seeking solutions to their over-indebtedness should have the freedom to seek guidance from experienced debt relief experts without fear of repercussions for a decision they haven't even made yet.
CureDebt guarantees no public listings will be made against your name until you have made the decision to proceed with the debt review process. We assure you that we will make sure that no financial institution receives notice of your inquiry until you have accepted the terms of the debt review and signed the Form 16. If you require guidance from a debt relief specialist, rest assured that you won't have to endure the unpleasant task of removing a negative listing for a debt review inquiry. Our aim is to help you understand the potential benefits of the debt review process.
Can CureDebt help me get any debt review listings removed from my name after an inquiry with another service provider?Yes, we could help you remove any negative listings caused by a debt review inquiry if the voluntary cancellation occurred before the Form 17A was submitted to the creditors. Remember that we must follow the rules and regulations stipulated in the
National Credit Act. Therefore, we will need to have a conversation with you first before presenting you with an unambiguous "yes" or "no" answer.
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Cure Debt today to assist you with your financial difficulties. Start living again.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Call on
Cure Debt rather than relying on the information herein to make any decisions. The information is relevant to the date of publication.
