itc debt review removal

Who is the ITC? ITC is an archaic term for a major credit bureau now known as Transunion. They store all information about your credit and payment history, including; loan and credit card payments, defaults and judgments, debt review status, and public records like insolvencies and bankruptcies. From the information in your credit report, ITC generates a credit score, which decides whether you can attain credit.

The debt review itc clearance process works by removing debt review and ensuring all outstanding debts are paid off. There are regulations in place that allow debt review to be removed once all debt has been settled. we can also assist you if you’ve successfully completed the debt review process and have yet to be issued a clearance certificate. Only once you receive your clearance certificate will the debt review red flag  be removed from your credit profile. Section 71(2)(b)(i) of the National Credit Act initially made provision for consumers to only exit debt review through issuance of a clearance certificate after they have paid all their re-arranged debts in full. The effect of this provision is that in instances where a home loan formed part of the debt review application, consumers have to remain under debt review for the duration of the home loan term even after settling re-arranged short term debts.

Removing debt review status from your credit report, often referred to as the ITC (Insolvency and Credit Bureau) debt review removal, occurs after you have fully settled your debts and obtained a clearance certificate from a registered debt counselor. Once you have completed your payments, your debt counselor submits the necessary documentation to the credit bureaus to update your credit profile, indicating that you are no longer under debt review. This process can take a few weeks, and it's essential to verify with the credit bureaus or your debt counselor that your status has been updated correctly. Remember, you cannot request removal of debt review status prematurely; it can only be done after full repayment and official clearance.Our agents are experts in removing debt review, fill form below and we will call you back

ITC clearance is a critical step towards improving one’s credit score. By clearing your credit record, you remove any negative information that may be affecting your credit score such as debt review or defaults on loans or credit cards.