Debt Review Removal
Debt Review Removal may be an option for consumers who are no longer over-indebted and need to understand the process for exiting Debt Review.
What Is Debt Review Removal?
Debt Review Removal refers to the process of exiting Debt Review. Depending on the consumer’s circumstances and the stage of the Debt Review process, this may involve a withdrawal process or a court application.
Debt Review Removal Criteria
- The consumer is currently under a Debt Review programme.
- A payment has been made and is registered with the National Credit Regulator.
- The consumer can demonstrate that they are no longer over-indebted.
- The original Debt Counsellor cannot be traced.
How Debt Review Removal May Work
The process for exiting Debt Review depends on whether a Form 17.2 notice has been issued and on the consumer’s current financial circumstances.
Before Form 17.2
A consumer may be able to withdraw from Debt Review before a Form 17.2 notice has been issued, subject to the applicable process and requirements.
After Form 17.2
Once a Form 17.2 notice has been issued, exiting Debt Review may require a formal court application.
Court process
A court may consider whether the consumer is no longer over-indebted. Legal representation may be required, and outcomes depend on the court’s assessment of the individual case.
Ready to Explore Debt Review Removal?
Speak to Credit Rescue about your Debt Review status and get clear guidance on the options that may be available to you.