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Worried about debt review and chance of a job

Dec 09 2014 15:29

A Fin24 user is worried about the impact going under debt review could have on his chances of getting a job. He writes:

I'm not sure if I should go under debt review.

My main concerns are that I am currently in the job market. Will debt review affect my chances of getting a job?

Also, will I be able to get credit after I have completed debt review in the future?

Please assist.

READ: Debt review nightmare

Wikus Olivier, a debt counsellor at DebtSafe, responds:

There is no need for concern. Debt review has been specifically designed to rehabilitate consumers into the credit market.

After completion of your debt review, a clearance certificate will be issued that will instruct credit providers and credit bureaux that your debt review has been finalised and that they should clear all information pertaining to the fact that you were subject to a debt review.

According to the National Credit Act the credit bureaux must amend their records within five business days after receiving the clearance certificate.

So, to answer your question: Yes, you will be able to apply for credit after your debt review has been finalised.

As for your concerns about employment: Being under debt review should not affect your ability to be employed.

There are certain professions like financial advisers and people working in the banking sector that might have some questions to ask, but I can confirm that it has become less and less of an issue.

We have placed quite a few bank employees under debt review without any issues caused to their employment.

READ: Debt review: Is it a good thing?

Hope this answered your questions sufficiently. Please do not hesitate to contact us  at DebtSafe should you have any further questions.

ALSO READ: Under debt review, but falling behind?

Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers. Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.

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money  |  money clinic  |  debt  |  debt review

 
 
 

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