MONEY CLINIC | How soon after receiving a debt clearance certificate may I apply for a home loan?

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A Fin24 reader currently under debt review wants to apply for a home loan. He writes: 

I'd like to know the following: if I settle all my accounts under debt review and I get clearance certificate, how long must I wait to get or apply for a house bond?

Benay Sager, Chief Operating Officer at DebtBustersresponds:

Well done on considering to pay your accounts early – this is fantastic news!

Once you receive a clearance certificate, the debt counsellor updates NCR’s debt help system to indicate as such, which then updates credit bureaus.

This is meant to happen regularly, so in reality as soon as you get your clearance certificate you can apply for new credit, including a bond immediately.

Compiled by Allison Jeftha. 

  • Questions may be edited for brevity and clarity.

Have a money problem that needs solving? Fin24 can help! Send your question to editor@fin24.com

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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