How to easily find the facts
Were you turned down for credit recently? Perhaps you’ve been even told there’s a debt review flag against your name and weren’t expecting it.
In any of these situations, the facts are your best friend. And if you want to know how to check if you are on debt review, start with your credit report.
It can help you see what is recorded against your name and if something needs to be checked or corrected.
Here are three easy (and free) steps to help you check your debt review status:
Step 1: Get your credit report
Get your latest credit report and read through it carefully. With Finance365, you can get your latest credit report for free, any number of times a year.
Step 2: Confirm your debt review information
Don’t just look at your credit score. Check your report for any reference to debt review or debt counselling.
Remember that a credit report debt review flag tells credit providers that you are in the debt review process.
Helpful tip: If you don’t understand what you’re seeing on your credit report, speak to a debt counsellor and ask them to confirm your current status.
The National Credit Regulator’s (NCR’s) public online register is there to check if a debt counsellor is registered.
You can also contact the NCR on 0860 627 627 if you need help with a complaint or an issue you haven’t been able to resolve.
Step 3: Know what the different debt review status codes mean
The NCR uses its Debt Help System (DHS) to record where consumers are in the debt review process.
Some of the main status codes are:
| Code | What it means |
| A | You’ve applied for debt counselling and are being assessed. |
| B | The assessment resulted in your application being rejected. |
| C | You’ve been assessed as over-indebted. |
| D3 | Formal debt restructuring through the courts has started. |
| D4 | A debt restructuring court order has been granted. |
| F1 | Your restructured debts have been settled, except your mortgage agreement. |
| F2 | All your restructured debts have been settled. |
| G / G1 | Court outcomes mean you are not under debt review in the circumstances covered by these codes. |
The NCR identifies A, C, D3 and D4 as active debt review status codes.
What if the debt review flag is wrong?
Don’t ignore it. Start by contacting the credit bureau that issued your report and lodge a dispute.
Be sure to include any proof that supports your case, such as your ID, paid-up letters, clearance certificate or relevant court documents.
From the time of receiving your dispute, the credit bureau has 20 business days to investigate it. If the problem isn’t resolved, you can then take the complaint to the NCR.
Finance365 also has a simple guide to removing incorrect information from your credit report if you need more help with the next steps.
Most importantly, if you are legit under debt review, don’t wait and hope it goes away by itself.
Get a debt counsellor to handle your case and know that while you’re under debt review, you generally can’t enter into new credit agreements.
If you’re unsure about anything about debt review, you can also talk to National Debt Counsellors (NDC).
And never be afraid to ask for help. The sooner you understand exactly where you stand, the sooner you can work out what to do next.
Want to check your debt review status right now?
Start with what is recorded against your name. Get your latest Finance365 credit report for free, check the information carefully and keep checking it as your credit record changes.
