At one point you are applying for a HELB Compliance certificate and along the way you cannot be issued with a compliance certificate because you have an outstanding HELB loan balance.
The scenario is common among HELB loan beneficiaries who have already serviced their loan or the loan is actively being serviced and has never been defaulted.
There is nothing as frustrating as your application for a HELB compliance certificate being rejected because of an outstanding amount yet you do not owe HELB any amount and your HELB loan has fully been repaid or you are actively servicing the loan.
This may happen to individuals who are remitting their monthly installment through their employers or are personally servicing the loan.
Upon acquiring HELB loan.HELB expects you start repaying back your loan after completing your studies. There are cases where beneficiaries take long to start repaying their loans leading to HELB listing them with Credit Reference Bureau CRB. In this case it will be hard for an individual to acquire a HELB Clearance certificate.
What to do if you are Listed with HELB as a Loan Defaulter
In case you have been listed by HELB as a defaulter, in this case you were not in a position to repay your loan on time, but you have plans to start repaying it, it is advisable to visit the nearest HELB offices to make arrangements on how you will be repaying the loan. Should you reach an agreement and start repaying your loan, ask HELB to lift your default status. In this case, you will need a batch number from HELB that you should present to CRB before you can be able to access financial services or apply for HELB Compliance certificate.
I have paid my HELB loan but am listed as a defaulter by mistake.
In case you have already repaid your HELB loan to the last coin but cannot be issued with a compliance certificate, then your HELB account needs to be checked and updated. In this case, by visiting HELB offices your account will be checked and updated before you can apply for the certificate. The scenario implies that you were listed as a defaulter by mistake.
I am actively repaying my HELB Loan but am listed as a defaulter and I can’t apply for a HELB Clearance certificate.
In this case, most likely you were listed by HELB as a defaulter before you had started servicing your HELB loan or you stopped servicing it along the way and got listed.
To get your records upright you will need to contact HELB so that your records can be checked. Evidence of you servicing your HELB loan will be enough to sort the issue.
Am a HELB loan defaulter and I need HELB Clearance Certificate
This is a common scenario especially for the first time job seekers. Long after you completed your studies and having benefited from HELB loan program, you are invited for an interview and HELB compliance certificate is one of the Key requirements. You try to apply for the HELB compliance certificate only to realize that you are listed as a defaulter and you cannot be issued with.
In this case you will have to visit HELB offices. In case you are within the time frame of loan repayment grace period, you will be assisted to get the certificate. However, if you had defaulted due to overdue non repayment loan, You can enter into agreement with HELB on modalities of your loan repayment. Whether or not you will be issued with a HELB compliance certificate by HELB at this point will be determined by how you agree.