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THE AUTOMATED SYSTEM FOR YOUR DEBT REVIEW CLEARANCE PROCESS

 

DEBT HELP SYSTEM UPDATE - (DHS) 

THE ONE SYSTEM DESIGNED TO RESOLVE ALL DEBT REVIEW ARGUMENTS

THE DHS IS A COMPUTER SYSTEM THAT IS USED TO REMOVE THE DEBT REVIEW FLAG 

THERE IS NO MIDDLE GROUND

YOU ARE OVER-INDEBTED OR NOT OVER-INDEBTED

Only Over-Indebted Consumers should be Under Debt Review

If you are no longer over-indebted you can be released through DHS Update. 

  • You can only be under debt review because you applied and you are over-indebted.
  • If you did not apply - the debt review listing is unlawful and should be removed
  • If you applied and you are no longer over-indebted, the DHS System should be updated and the flag removed. 

  

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GENIUS SYSTEMS DHS ONLINE DEBT REVIEW REMOVAL PROCESS 

Genius Debt Help System Update  Protocol

Genius System ---> Finwise --->NCR Dhs ---> Credit Bureau

How it Works:  

  1. Register for Genius Online Dhs Update Service
  2. Supply your ID, Payslip; Settlement Letters and Outstanding Accounts statements (if any)
  3. Complete Form16 to authorise Financial Circumstances Assessment
  4.  Pay a once-off refundable R250 file activation (assessment fee)
  5. The Finwise System shall be used to conduct your financial circumstances assessment to determine your indebtedness.
  6. If assessment outcome is over-indebted - the R250 will be refunded
  7. If assessment outcome is not over-indebted the removal process shall commence immediately

Removal Process: 

  • The Finwise Financial Circumstances Assessment results are submitted to the NCR
  • The NCR will update the Dhs Code to "B" (Not Over-indebted)
  • The updated Dhs code is automatically transmitted to the the credit bureaux. 
  • The Credit Bureaus shall remove the debt review flag within 7 days. 

* The entire process including compilation of information, NCR verification of documentation and Credit Bureau removal of the flag can take up to 14 days. 

 

DEBT COUNSELLOR MISSING/UNKNOWN NO LONGER OVER-INDEBTED DHS UPDATE 
UNLAWFUL DEBT REVIEW  NO LONGER OVER-INDEBTED CLEARANCE CERTIFICATE
  •  Did you sign Form 16?  
  • Did you agree on the new instalment (distribution amount)?
  • Did the debt counsellor explain the debt counselling fees?
  • Did you sign PDA (Payment Distribution Agency) debit order authorisation?
  • Did you sign and submit a supporting affidavit for court application?
  • Did you receive a copy of the Court Order? 

If your answer is No to any of the above, the Debt Review Agreement is deemed Unlawful.

 

If any of the above applies to your debt review situation, you can approach another debt counsellor to update the DHS to remove the debt review flag. 

 

 

 

 

 

 

 

 

A consumer voluntary applies for debt counselling and is approved and placed under debt review because it has been determined that he/she is struggling to maintain his/her accounts in a timely manner and thus over-indebted. 

 

At any time or any stage, If the consumer concludes that the debt review program is not helpful or the consumer's financial circumstances improve, he/she can notify the debt counsellor to terminate the process or to redo the financial circumstance assessment. 

 

The debt counsellor shall update the DHS system with the outcome of the assessment.

 

If the debt counsellor does not cooperate or unavailable, the consumer can transfer to another debt counsellor - any debt counsellor -  to request re-assessment and DHS update to remove the debt review flag. 

 

 

 

 

 

 

Clearance Certificate can be acquired under the following conditions: 

 

All accounts paid in full

 

All accounts are settled in full (except home-loan where applicable)

 

When all accounts are paid in full as above, the consumer or the debt counsellor must request a obtain all settlement letters from credit -providers. 

 

The debt counsellor shall verify the account settlement, issue a clearance certificate and submit documents to the NCR to update the DHS system to remove the flag from your records. 

 

If the debt counsellor refuse to issue a clearance certificate, or is missing or not contactable or deregistered, the consumer can transfer to another debt counsellor - any debt counsellor - to issue a clearance certificate and update the DHS to remove the debt review flag. 

 

 

 

 

 

 

 

 

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