Getting out of debt review is a process that can take at least two months. To begin, a court request must be prepared and a hearing date must be set. This hearing date is usually no less than two weeks away, as the court request must be served to the debt counselor and creditors. The court hearing is the first step in the process of canceling debt review.
During this hearing, the court will decide whether or not to grant the request for cancellation. If the court grants the request, then the debt review will be canceled and the consumer will no longer be under debt review. Once the court has granted the request for cancellation, the consumer must then apply to the National Credit Regulator (NCR) for a clearance certificate. This certificate is required in order to prove that the consumer is no longer under debt review.
The NCR will then issue a clearance certificate, which can take up to two weeks to process. Once the clearance certificate has been issued, the consumer must then contact all of their creditors and inform them that they are no longer under debt review. The creditors must then update their records to reflect this change. This process can take up to two weeks, depending on how quickly each creditor responds.
Once all of the creditors have been informed and their records have been updated, the consumer is officially out of debt review. This process can take anywhere from two months to six months, depending on how quickly each step is completed.