How Do I Pay Off My Debt Review Faster?

If you're under debt review, you’ve already taken a smart step toward regaining financial control and protecting your assets. But what if you want to pay off your debt review faster and get your debt clearance certificate sooner?

In this blog post, we’ll explore practical strategies to speed up your debt review payments, shorten your repayment term, and help you achieve financial freedom faster.

1. Pay More Than the Minimum Monthly Installment

Under debt review, your monthly debt repayments are reduced to make them more manageable. However, if you only stick to the minimum repayment amount, you’ll take the full repayment term to complete the process.

✅ How to Speed It Up:

• Pay extra whenever possible – even small additional payments can make a big difference.
• Use bonuses, tax refunds, or extra income to settle more of your debt faster.
• Round up your payments – for example, if your installment is R2,850, round it up to R3,000.

📌 Every extra payment goes directly to reducing your principal debt, meaning you’ll pay less interest over time and complete your debt review sooner.

2. Cut Unnecessary Expenses & Redirect the Savings

One of the quickest ways to free up extra money for your debt payments is to review your spending and cut unnecessary costs.

✅ Ideas of where to cut back:

• 🍔 Reduce takeaway & eating out – Cook at home more often.
• 📺 Cancel unused subscriptions – Streaming services, gym memberships, and magazines add up.
• 🚗 Save on transport – Carpool, use public transport, or limit unnecessary trips.

📌 Redirect any savings straight into your debt repayments to speed up the process!

3 Avoid Taking on New Debt

While under debt review, you legally cannot take on new credit—but it’s still important to maintain good financial habits.

✅ What to Do Instead:

• Resist the urge to borrow money from friends, family, or loan sharks.
• Focus on building an emergency fund so you don’t need to rely on credit.
• Stick to your repayment plan—trying to shortcut the process with additional loans could lead to financial setbacks.

📌 The sooner you complete your debt review, the sooner you can start rebuilding your credit score!

4. Communicate with Your Debt Counsellor

Your debt counsellor is there to help you, so stay in touch and update them if your financial situation improves.

✅ Why This Helps:

• They can adjust your repayment plan if you can afford higher payments.
• They ensure that once your debt is settled, you receive your clearance certificate and get removed from debt review as soon as possible.

📌 At Meerkat, we make the process simple and guide you every step of the way!

5. Earn Extra Income & Put It Towards Your Debt

If you’re serious about paying off your debt faster, consider ways to increase your income.

✅ Ideas to Boost Your Income:

• 🏠 Freelance or side hustle – Offer your skills online (graphic design, tutoring, admin work, etc.).
• 📦 Sell unused items – Clothes, electronics, or furniture can bring in extra cash.
• 🍽️ Do odd jobs – Babysitting, pet sitting, or weekend work can help bring in additional funds.

📌 All extra income should go straight into paying off your debt to shorten the repayment period!

6. Stay Consistent & Stay Motivated

Paying off debt is a marathon, not a sprint—but by sticking to a strategy, you’ll finish sooner than expected!

✅ Keep Yourself Motivated:

• 🎯 Track your progress – Seeing how much you’ve paid off will keep you motivated.
• 🏆 Celebrate small wins – Every debt cleared is a step toward financial freedom.
• 🤝 Surround yourself with support – Talk to others in the same journey or seek advice from financial experts. You can follow our social media channels to help you stay on course.

📌 Remember: Every extra effort you make today brings you closer to a debt-free future!

What Happens If I’ve Paid Off My Debt But Still Have the Debt Review Flag on My Credit Report?

If you have fully paid off all your debt, but are still flagged, you’ll need to remove your debt review status so that you can access credit again.

🎉 Good news! Meerkat can help you get your Debt Review Clearance Certificate in just 10 days for only R1150!

📢 How to Get Your Clearance Certificate:

✔ Submit proof that all debts are paid (paid-up letters from creditors).

✔ We process your debt review removal and notify all credit bureaus.

✔ Your debt review status is removed, and you’re officially debt-free!

📌 Need help? Contact Meerkat today and get your clearance certificate hassle-free!

Final Thoughts: Is It Possible to Pay Off Debt Review Faster?

Yes! By paying extra, cutting expenses, and increasing your income, you can speed up your debt review process and gain financial freedom sooner.

💡 Key Takeaways:

✅ Pay more than the minimum installment.

✅ Cut unnecessary expenses and redirect savings.

✅ Avoid new debt and stick to your repayment plan.

✅ Communicate with your debt counsellor for the best strategy.

✅ Earn extra income and put it towards your repayments.

📢 Ready to remove your debt review status? Contact Meerkat today for fast, legal clearance in just 10 days!