Debt Counselling and Your Credit Record

Debt-counselling status versus a credit score

Debt counselling can appear on your credit profile as a status or indicator. That is different from a single score number. Scores differ between bureaux and lenders, so avoid anyone who promises a specific score change.

What happens while counselling continues

While under debt counselling, you generally cannot take new credit. Payment history, arrears and account updates may still matter. Keep statements and payment confirmations because they help resolve disputes later.

Completion and clearance

Clearance is not simply a marketing promise. It depends on the legal and payment requirements being met. Form 19 is associated with clearance, and the relevant parties must update records through the correct channels.

Check your credit report

After clearance, get your credit reports and check names, ID number, account statuses, balances, arrears, judgments and enquiries. If information is wrong, dispute it with the bureau that supplied the report.

Documents to keep

• Debt-counselling application and notices.
• The court or Tribunal order where applicable.
• Payment confirmations and statements.
• Clearance certificate and bureau dispute correspondence.