FAQs

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Frequently asked questions about Blacklisted Loans.

What is the turn around time on an application?

The turn around time on an application is normally 24 hours. When we receive your application, we immediately forward it to our panel of lenders and you can expect to hear from them within a few- to 24 hours after we have received your application.

The reason you may not hear from us within 24 hours might be because we are searching for a lender that will assist you with a personal loan.

Does Blacklisted Loans do credit checks?

At Blacklisted Loans we do not perform credit checks, but our panel of lenders may do so after receipt of your loan application.

How long do I have to repay the loan?

This will entirely depend on the lender and the agreement signed, normally anything from 1 month to 60 months
Many people apply for loans for blacklisted without being aware that they may negotiate the terms and conditions of the loan. The repayment period are normally between 12 – 72 months, depending on the amount that you qualify for and how much you can afford to repay monthly.

How do we cancel the Blacklisted Loans service?

We offer our clients a seven-day cooling-off period that allow them to cancel the service should they choose to do so. Whenever you change your mind after cancellation, please contact us and we will be happy to reactivate your account.

What does being blacklisted mean and how can it affect your credit rating and ability to apply for financial service?

When you fail to pay a personal loan or any type of credit agreement, e.g. an account with a retail store, within the set term of the contract or agreement, the loan reverts into default and your name is listed on credit bureau’s. This serves to inform other credit providers/financial institutions that you do not honour your contracts/agreements as signed by you. A listing on a credit bureau can prevent you from procuring any further loans or types of finance.

As a first step in the process, Financial Institutions and Credit Providers make use of their collections departments to list you as a slow payer. A listing as a slow payer on credit bureau results in an immediate drop in your credit score.

What is the R350.00 fee for?

To cover our cost for sourcing loans for blacklisted people on their behalf, we charge a once-off registration fee of R350.00 for our services regardless of the outcome of the loan application.

The global economic crisis that resulted in retrenchments and the ever increasing difficulty to find a new job in South Africa, led to many people being blacklisted because they could no longer honour their financial commitments.

Loans for blacklisted people may be very difficult to find when you turn to Financial Institutions for help. A bad credit record because of past financial difficulties no longer have to stand in the way of alleviating unnecessary financial pressure.

All you need to do to get a blacklisted loan is to file an online application and provide us with the required documents when asked to do so. We will do the hard work and go to the panel of lenders for you!

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FAQs

Virtually everyone will need a loan at some point in life. Many people are able to return their loans with interest, but what about the people who face certain problems in returning the loans? Or what about the people whose credit scores have gone bad and they now hold a bad credit record? There is a solution for people who find themselves in these types of situations. If you live in South Africa and you find yourself with a bad credit score, you can apply for blacklisted loans in South Africa with ease. There are various types of organizations and departments who give facility to people with a bad credit record. Blacklisted people are those whose credit records have stained and who cannot apply for a new loan, but certain organizations help them to avail this facility of applying for loans even when they are blacklisted. Therefore, it is now easy to get blacklisted loans in South Africa. Blacklisted loans in SA

Types of Loans

There are two forms of loans available for the people who have poor or bad credit history. They are micro loans and unsecured loans. These types do not require any personal security that could put your property at risk if you fail miss your repayments. In order to suit your financial needs and to have a hassle-free operation in terms of acquiring loans, you need to apply for micro loans through a micro lender agency. These agencies are located in many South African cities and towns near the shopping malls or markets where there is easy access to locate such small offices. Before applying for blacklisted loans in South Africa, there are certain things you should know. The provider will need proof of identification, such as your passport or any other valid government approved ID, proof of residence, and your proof of income, such as salary slips or a contract letter from your employer. The requirements vary depending upon the needs of the loan provider.

Applying for Unsecured Loans

When applying for unsecured loans, especially if you are blacklisted, it is advised not to approach big banks because there are higher chances of you being turned away due to negative credit scores. Banks generally are very strict about who they lend to and would not entertain your application if you have a bad credit history. In such cases, where can you go to apply for blacklisted loans in South Africa? It is simple. The easiest way is to apply online. You can also go to financial lenders as most unsecured loans can be applied for from these financial lenders. Look around your area and search for finance lending companies, or you can check local yellow pages. However, it is highly recommended that you search online when applying for blacklisted loans in South Africa. You may get help from unsecured loan providing companies for the people who have bad credit scores, which can help you in getting out of your financial troubles. Many people who have a bad credit history avoid approaching financial institutions. Applying for unsecured loans or micro loans is a better idea than approaching a bank where chances of your applications being turned down are high. The fastest and easiest way to apply for blacklisted loans in South Africa is to apply online.