Navigating Debt Review: How to Successfully Exit the Process

Why Debt Review Exists in the First Place

If your debt feels like it's climbing Mount Everest, you're not alone. Debt review is a legal lifeline in South Africa for people who are seriously over-indebted. Basically, you team up with a registered debt counsellor who helps you create a more manageable payment plan. It's all done through the courts, which gives you protection from creditors trying to repossess your stuff or harassing you with calls.

The goal? To help you catch your financial breath. Once you're stable again, you can think about exiting and reclaiming your financial freedom.

So How Exactly Does Debt Review Work?

• Your debt counsellor reviews all your financials—income, expenses, outstanding loans.
• They contact your creditors and propose a new, realistic repayment plan.
• This gets approved by the court or National Consumer Tribunal for legal protection.

The cool part is many people under debt review enjoy reduced interest rates—sometimes even down to 0% according to this report by the Department of Trade, Industry and Competition.

But it’s not all smooth sailing. While under debt review, you can't take on new credit, and the legal process can be slow, especially depending on where you live in SA. Areas like the Western Cape and Gauteng are seeing major spikes in new applications, as noted by Insolvency Care.

For more on this in your region, check out our local guide on Debt Review Cape Town.

When Can You Stop Debt Review?

Okay, so the first question is, can I get out of debt review?

The short, sweet answer? Yes — but only after all your debt has been paid off except for long-term agreements like your bond (home loan).

Once your debts are settled, and you're in the clear (except for your bond), your debt counsellor can issue what's called a clearance certificate. This official document is your golden ticket out of debt review. It tells the credit bureaus and creditors, "Hey, I'm done. I'm good now."

According to Negotiation Credit Solutions, you can’t exit just because you feel ready—you must meet the strict criteria.

Some credit types (like a mortgage or up-to-date vehicle finance) don’t stop you from exiting, which is confirmed by Legal Rights South Africa.

Steps to Exit Debt Review (Without Guesswork)

If you've ticked all the boxes and you're ready to leave the process, here's what to do:

1. Make sure all the debts under review are paid. Double-check with your creditors and grab those paid-up letters. Don’t skip this step!
2. Apply for your clearance certificate. This goes through your counsellor, who should handle the submission to the credit bureaus.
3. Update your credit records. Once the bureaus receive the certificate, they’ll remove the debt review status from your name.

Want an inside scoop on this process? Check this article from DebtBusters.

For more details if you're in the city, our guide on Debt Review Johannesburg is worth checking.

What Happens After You're Out?

Now that you've earned your financial freedom badge, it’s super important not to fall back into old habits. Think of this as a second chance.

Here are a few things to keep in mind:

• Create a budget—no more guesswork. Know what’s coming in and what’s going out.
• Start saving, even if it’s just R100 a month. Peace of mind is priceless.
• Rebuild credit the smart way—start with small, manageable loans or accounts and pay them off on time.
• Don’t rush into debt. Just because you're eligible for credit, doesn’t mean you should take it.

The folks at Credit Salvage have great tips on how to boost your credit score the safe way.

If you're based in KZN, take a look at our guide focused on Debt Review Durban to navigate what life after review looks like in that area.

Final Thoughts

Getting into debt review is not admitting defeat—it's taking control. And getting out? That’s the victory lap.

So yes, you can get out of debt review, just like our original question asked. But it takes commitment, discipline, and the right info. Stay informed, ask questions, and if you're stuck—speak to a professional.

In the meantime, stay smart and keep building that financial freedom one step at a time.