Loans for people with bad credit history

Loans for people with bad credit history

 

Good Credit Score Ratings

If you are looking for a loan in South Africa, you might know just how important it is to maintain a clear credit record. This will count in your favour when you apply and you might even quality for lower interest rates based on your profile. However, there are other things to consider too and there are different types of loans to consider.

Unsecured Loans

Unsecured loans refer to loans given without any asset given as security for the loan. Unsecured loans are often difficult to obtain, as the lenders will have a risk on their hands if you don’t pay. There will be certain criteria that you will need to meet and the terms of the loan as well as the loan amount will differ between lenders.

Secured Loans

Secured loans are provided against an asset that can be given up as security. These loans are often a bit easier to obtain, especially if you assets to offer, like property or a vehicle. You might also qualify for bad credit loans if you have security to offer, since the risk will be minimal on the lender’s side.

Online Blacklisted Loans

Blacklisted loans are loans given to people with a bad credit history. It’s not impossible to obtain credit, but banks and some other financial institutions might not be willing to extend credit to you if you have a bad credit history. There are lenders who do provide loans, so make sure that you weigh your options and choose one that will be flexible enough for your personal needs.

As one of the best Blacklisted Loans providers in South Africa we offer loans to people from R1000 – R200 000. The only requirements are that you must be a South African citizen and 18 years or older; have a bank account and earn a minimum salary of R1500 per month.

You can apply online in three easy to follow steps and within a few hours to 24 hours you will know if you have qualified for a blacklisted loan.

Easy Cash Blacklisted Loans

Our online blacklisted loans are available for any of your financial needs whether it be medical bills, house improvements, annual school fees, vehicle repairs and many many more.

For same day blacklisted cash loans – apply today.

When you want to obtain a personal loan in South Africa, assess your personal situation and determine the type of loan that you want to qualify for. If you don’t understand the terms, ask for help or advice from an expert first, before you sign an agreement that you won’t be able to upkeep.

INSURANCE CLAIMS SUPPORT

For more information on our other services that include insurance claims administration support and reduction in traffic fines – click here.

 

3.00 avg. rating (63% score) - 2 votes

Share the Post

About the Author

Comments

Comments are closed.

Loans for people with bad credit history

Have you found yourself in a situation in which you have accumulated an amount of debt that you feel it will be impossible to repay? Billions of people around the world have accumulated debt that spirals out of control. Maybe you have student loan payments, car payments, and home loan payments to make and one day you find yourself in the unfortunate situation that you are unable to make your payments on time. Maybe you lost your job or incurred medical expenses or had to put unexpected repairs on a credit card. Before you know it, your credit score plummets and you find yourself blacklisted. Do not despair. It is always possible to take control of your debt. Blacklisted loans are here to help people in your exact situation. blacklisted loans in SA

What Are Blacklisted Loans?

Blacklisted loans are, first and foremost, loans designed to help a person with bad credit consolidate their debt by using the money to pay off previous debts so that they only have one payment to make. You can also use these loans to cover situations such as car repairs and student fees or school fees. Even if your name has been blacklisted because of bad credit, you can qualify for a blacklisted loan as long as you are 18 years or older, and you have a steady job and a bank account.

How Do Blacklisted Loans Work?

When you are applying for blacklisted loans you will be required to give your bank account details and to prove your identity, age, residence, and employment. Most of the companies that provide blacklisted loans will not conduct a credit check. Depending on the company providing the loan, you may be required to conduct an interview by phone. Upon accepting your application, the loan provider will discuss interest rates and payment plans with you and set one up depending on your budget. The terms of the loan will usually require a full repayment in a period of 12-72 months. Keep in mind that interest rates for these loans are generally high as they are designed to be used as a last resort for debt consolidation or emergencies.

Benefits of Taking a Blacklisted Loan

Though the interest rates of blacklisted loans are high and the period of time to pay back a large sum of money is short, the benefits of taking a blacklisted loan can be great if you use the loan responsibly. Avoid taking a blacklisted loan unless it is completely necessary to do so. Taking a blacklisted loan to consolidate your debt, if done in a responsible way, can save your credit score and lift some big financial burdens from your life. Blacklisted loans are designed to help a person overcome with debt to get back on their feet and re-build a good credit score once again. However, if you take a blacklisted loan and treat it irresponsibly by buying unnecessary things and neglecting the payments, your credit score will plummet further and you will have a very difficult time in finding financial assistance for anything in the future.