Reasons you can’t get an ITC Clearance Certificate

Working towards your financial independence through Debt Counselling involves dedication and work. When you access your ITC Clearance Certificate, you are considered responsible in the financial sense, and you can begin enjoying the benefits that come with financial stability. We have worked with clients who encountered problems, and outline some reasons you can’t get an ITC Clearance Certificate, as a helpful guideline.

One big reason why you have not succeeded in getting your ITC Clearance Certificate is that you have skipped a payment due to one (or more) of your creditors. This is considered outstanding debt, and until you are up to date with all your debt obligations, you will not be issued an ITC Clearance Certificate. This skipped payment could have been for anything from credit card debt to bills that have gone unpaid and loans that you’ve signed your name to. Over-indebtedness is a very real problem among South Africans at the moment, and a big red flag of too much debt is not being able to repay all of your creditors.

Reasons you can’t get an ITC Clearance Certificate include your incurred debts which have not all been paid up to date. The only way to show for certain that you have a clean credit record is to honour the full repayment of your debts according to the repayment plan – if you are not up to date, this is definitely going count against you. The main thing to remember is that you cannot be cleared of debt if you still owe money towards your debts – this rule applies to every debt except property. If you are paying off a mortgage in accordance with your loan agreement, and this is the only debt in your name, you can be granted an ITC Clearance Certificate.

Making those final payments to debtors is a huge achievement for anyone struggling with debt. At Debtco Group, we know the freeing effects of getting out of debt and offer a tailored Debt Counselling solution to consumers who are struggling with their affordability. When considering the reasons you can’t get an ITC Clearance Certificate even after banks have accepted the clearance proposal, it is most likely because the process can be a lengthy one. Keep making attempts to follow up, and also keep an eye out for potential errors in your credit record, such as paid-off debt that is still showing as unpaid, or judgments that don’t belong there.

After a successful Debt Counselling journey with Debtco Group, the next step is to get your ITC Clearance Certificate. This proves your creditworthiness so that you can be approved for loans and credit again. Start enjoying life and stop letting debt get the better of you – contact us today to find a solution to your debt problems.