You have successfully settled all your short term debt and have been rewarded with the long awaiting Clearance Certificate!

First of all, a big congratulations is due to anyone who has obtained a clearance certificate after being patient with the entire debt review process.

What is the process behind issuing the Clearance Certificate:

It may seem simple, but there is definitely a lot of admin behind the issuing of a Clearance.

1. The debt counselor needs all the paid up letters from all the credit providers listed on the Granted court order and/or the 17.2 Accepted. This will ensure quality as well as ensuring that there are no inconveniencies with the submission of documents to the credit bureau.
2. Once the debt counselor has all the paid up letters, they can proceed with issuing the Clearance Certificate and confirming that all the credit providers are listed and the information is correct.
3. Once the information has been verified the clearance certificate needs to be certified as a true copy.
4. The certificate, paid up letters, 17.2 Accepted and/or granted court order are then sent to the credit bureau.
5. The consumer status on the NCR Debt Help System is changed to reflect that the consumer has paid up all their short term debt and is no longer under debt review.

This can only be done as soon as any outstanding fees due to the Debt Counsellor have been paid in full.

What happens after the Clearance Certificate has been issued:

It is something that is worth celebrating but should not be done with buying a brand new vehicle.

The point of Debt Review is for consumers to rehabilitate from their credit usage. Like any rehabilitation situation, you have to have strict discipline to ensure not to fall into the same debt trap again.

Most consumers want to rebuild their credit score, which is also a noble pursuit.

Here are some useful tips on rebuilding your credit score:

1. Once you start applying for new credit and realize that not all the credit providers have amended/updated your status, it is best to obtain the information of the credit bureau that the credit provider uses and send them a copy of your Clearance Certificate.
2. It will be advised to obtain a small credit agreement – something in the line of a clothing account.
3. A great tip to pushing up your credit score is to make double payments.
4. Do not apply for new accounts often. Each inquiry made will bring down your credit score which will have a negative impact on your overall credit rating.

The biggest advice regarding rebuilding and maintaining a good credit score is to not over commit and not to restart the cycle of credit that landed you in financial distress in the first place. Take your budget seriously, and if you cannot afford credit, do not apply for credit.