Personal Loans & Getting out of Debt

Personal Loans & Getting out of Debt

Getting out of Debt

Over the last few years, more and more people have accumulated debt. It’s often quite a challenge to get everything paid and for many people it simply feels like a cycle that will never end. Then there’s the bad credit record that threatens you, which is also something that people want to avoid as much as they can. Luckily, there is always a way to get yourself out of debt.

Should I Take up a Loan?

This is a question that many people want an answer to. People often consider taking up a consolidation loan to repay all their separate accounts, thereby only owning one payment each month. While it might be a great idea to consolidate your debt, always make sure that you weigh your options and get professional advice; you don’t want to end up with a bad credit record and even more debt.

Avoiding a Bad Credit Record

It’s important to try and avoid getting a bad credit record as this can have a negative influence on any future personal loan or account applications. Always try to work out a payment plan with your creditors – a smaller monthly payment is better than no payment at all, so try and settle for an amount that you can afford. Make sure that all of your creditors get something every month to avoid unnecessary penalty fees and unnecessary interest rates. Put all of your effort into paying off your current debt before you ever consider buying anything on credit again.

As a rule, don’t buy anything you can’t afford – but with that being said, debt is often something that happens unexpectedly, whether it’s due to loss of income, or even interest rates that you did not take into consideration. Ask for professional advice before you make any radical changes and work out reasonable rates with creditors.

Online blacklisted loans

What if you are already blacklisted on ITC?

This is an unfortunate situation, but by no means does it have to be a desperate one. It is still possible to qualify for a private blacklisted loan.

What is a blacklisted loan ?

Quite simply, a personal loan for people blacklisted on Credit Bureau’s.

How do I apply for a loan when I am blacklisted?

You can apply online with us in three easy steps.

What are the requirements for a blacklisted loan?

You have to be older than 18 years and be a permanent South African citizen. You must also  have your own bank account, be employed and earn a minimum monthly salary of R1500 pm.

Repayment Period

You can repay your loan between 12 – 72 months depending on the amount you qualify for and how much you can afford to repay monthly.

Can I get a blacklisted loan for things like car repairs?

Of course you can use your loan for car repairs. In fact blacklisted loans can be used for many things : consolidation of debt, student fees, school fees,

Apart from loans we also offer other services that  you might be interested in. For our insurance claim support and payment of reduced traffic fine assistance

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Personal Loans & Getting out of Debt

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.