Blacklisted? Needing a loan? Tired of your applications being declined? Here is how you can be helped.
By applying to lenders who cater for unsecured loans for blacklisted people you can get on the road to financial freedom again. It is the easiest way to get financial help when turned down by the major banks if you are blacklisted, or have a garnishing order or judgment against your name.
Things you should be aware of when applying for a loan when you are blacklisted.
Normally the majority of financial institutions offer unsecured personal l
oans and can assist. However it is not usually possible for them to help someone who does not have a good credit record, a circumstance which applies to many people.
Luckily there are financial lenders throughout South Africa who have the consumer's best interest at heart, even if they are blacklisted, and will give every client's application the full attention it deserves.
Interest on the loans obtained from the micro lenders who specialize in loans to people with bad credit records will normally be higher than that of the normal bank. The reason for this is that they are taking on a higher risk in helping people with a poor credit record as opposed to people who have a good credit record.
Where can you find the lenders who assist with unsecured loans for blacklisted people?
It is as easy as ABC. You may find the Internet the most convenient way by visiting their websites. You can save a lot of time by doing business this way as you do not have to go to them in person.
Where else can you look?
You can also find them through newspaper ads, or on bulletin boards. It is important, however, that you look for a reputable company as they will not charge you any illegal upfront fees. It is therefore of paramount importance that you always read the fine print of whatever arrangement you are considering.
What documentation is requested when you need to apply for a loan?
A clear id copy, most recent salary advise, bank statement and proof of address are required. It is essential for them to have all the requested documentation so they can give you the offer best suited to your personal needs. Another benefit of this kind of Loans Consultant is that nearly all of them use faxes or emails and do not request original documentation.
Why do they need all these personal documents?
Reckless lending is illegal. When a loan application is made the law requires the lender to calculate the affordability of a loan to the customer and to adhere to this affordability calculation. Without these documents it is impossible to work out how big the monthly installment is that the applicant can reasonably afford to pay, and thus how big the loan is that they can offer the applicant.
All personal details stay highly confidential and will not be given to any 3rd party; they are merely used as tools to help the Loans Consultant establish how they can best assist the consumer who is in need of a loan in despite having a bad credit record.
Do you need to be in a certain age group to qualify for a personal loan?
The answer is yes. Mostly it is between the ages of 18 and 65, but it can vary depending on the various loan products on offer. The micro lender usually has a variety of products to offer to the consumer. Each of them has their own minimum criteria that need to be met. A loan is therefore not guaranteed before all relevant factors have been taken into consideration.
Loans for blacklisted people are designed to help the customer recover from his/her bad debt and regain a position of financial stability.
By applying to lenders who cater for unsecured loans for blacklisted people you can get on the road to financial freedom again. It is the easiest way to get financial help when turned down by the major banks if you are blacklisted, or have a garnishing order or judgment against your name.
Things you should be aware of when applying for a loan when you are blacklisted.
Normally the majority of financial institutions offer unsecured personal l
oans and can assist. However it is not usually possible for them to help someone who does not have a good credit record, a circumstance which applies to many people.
Luckily there are financial lenders throughout South Africa who have the consumer's best interest at heart, even if they are blacklisted, and will give every client's application the full attention it deserves.
Interest on the loans obtained from the micro lenders who specialize in loans to people with bad credit records will normally be higher than that of the normal bank. The reason for this is that they are taking on a higher risk in helping people with a poor credit record as opposed to people who have a good credit record.
Where can you find the lenders who assist with unsecured loans for blacklisted people?
It is as easy as ABC. You may find the Internet the most convenient way by visiting their websites. You can save a lot of time by doing business this way as you do not have to go to them in person.
Where else can you look?
You can also find them through newspaper ads, or on bulletin boards. It is important, however, that you look for a reputable company as they will not charge you any illegal upfront fees. It is therefore of paramount importance that you always read the fine print of whatever arrangement you are considering.
What documentation is requested when you need to apply for a loan?
A clear id copy, most recent salary advise, bank statement and proof of address are required. It is essential for them to have all the requested documentation so they can give you the offer best suited to your personal needs. Another benefit of this kind of Loans Consultant is that nearly all of them use faxes or emails and do not request original documentation.
Why do they need all these personal documents?
Reckless lending is illegal. When a loan application is made the law requires the lender to calculate the affordability of a loan to the customer and to adhere to this affordability calculation. Without these documents it is impossible to work out how big the monthly installment is that the applicant can reasonably afford to pay, and thus how big the loan is that they can offer the applicant.
All personal details stay highly confidential and will not be given to any 3rd party; they are merely used as tools to help the Loans Consultant establish how they can best assist the consumer who is in need of a loan in despite having a bad credit record.
Do you need to be in a certain age group to qualify for a personal loan?
The answer is yes. Mostly it is between the ages of 18 and 65, but it can vary depending on the various loan products on offer. The micro lender usually has a variety of products to offer to the consumer. Each of them has their own minimum criteria that need to be met. A loan is therefore not guaranteed before all relevant factors have been taken into consideration.
Loans for blacklisted people are designed to help the customer recover from his/her bad debt and regain a position of financial stability.
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