Jul 25

Need a Loan? – Questions To Ask

Times are tough and sometimes you have no other choice than applying for a loan, but you should ask some questions first such as;

DO YOU ASK ANY UPFRONT FEES?

If the answer is yes, ask why you have to pay these fees, do not just pay it. Some dishonest people ask large so called “legal fees” for preparing of documents before they can deposit your money. Mostly this is a scam so be on the lookout. Make sure at the NCR that this is legal.

WHAT TYPE OF LOAN TO TAKE?

Compare different lenders and the rates charged against each other and do not choose the one with the highest interest rates.

Click here for more questions to ask.

Jul 19

Bad or no credit history – what can one do?

  • Perhaps you always lived on a cash only basis but due to the ever rising costs of living need some financial assistance but nobody is willing to help you.  Or you just turned 18 and started your first permanent job, and also as in previous scenario mentioned have no credit record as well and cannot understand why the financial institutions are reluctant to grant you credit.
  • Although you are not blacklisted they have a very good reason for that.  Lending out money is always risky and the service providers usually base their decision to grant you credit on your past repayment history.  Do not despair as there are solutions for the problem.  Open a small clothing account, repayable over 6 months and pay it every month or even settle early.  Hereby you will now have a credit history and can now re apply for a personal loan or any other type of credit should you be in need of it.  You will also find loan providers willing to offer you a small loan over a short period with a high interest rate to give you a change to proof your credibility.  Do not turn down the offer because it is small and expensive but use it as a stepping stone to start building a good credit record.  After you made at least 3 instalments you should be able to apply for higher credit with cheaper interest rates.   However should you not need further credit after this first application please do not open anymore accounts if not really necessary.  Remember, you took these steps solely so you can get a credit score in case you may need help in the future.
  • Having a bad credit history?
  • You will be judged by you past credit history when applying for credit. A lot of factors will be taken into consideration but do not lose hope there are numerous companies willing to help you back on the route of rebuilding your credit record.  Applying for a bad credit loan to finish up some small accounts can be a help.  Just know that you will not be able to get a big loan and the interest rate will also be high as a result of your past history.  Pay all your accounts on time, even if you pay regularly every month but are making late payments it gets recorded on the credit bureaus and will lower your score.
  • Do not get into the habit of making one loan after the other once your credit has improved. Only apply for any kind of credit when it is crucial. Try and live a simpler lifestyle, you do not need the latest cell phones or big screen TV sets etc, the older and cheaper (or 2nd hand versions) work just as good.  Be responsible and adopt good credit habits.
  • Should you really be in need of a loan click here to apply.

 

Jul 17

Over indebted, what can I do?

Once over indebted it can be very stressful and difficult to get out of this situation but it is possible.  By making some changes in your personal life it can be done, but only if you are determined and self disciplined as this will be a lengthy process.

Some steps you can take to make the financial situation better.

First look at your day to day life, see where you can save on expenses, no matter how small the amount you can save every bit will help.

Make a list of what are essential expenses and what not.  Be prepared to let go of some habits and minimises the extras (things that you just want to have but do not really need). Perhaps you have DSTV and are on expensive packages as you would like to be able to watch all channels available.  Stop that reasoning and revert back to the cheaper options.  You will be surprised to see that it can indeed be a benefit. You will be able to spend more quality time as a family and can explore a lot of other options that can be fun as well, like reading, outdoor walks, card games with your kids etc. Doing things together usually brings people nearer to each other as well as now they have time to each other again.

Do not be tempted to buy something from the canteen at work, bring your own lunch packet from home.

Buy school uniforms from the school clothing banks or if you are unable to afford the school fees go see the principle, explain your situation and see if you can perhaps pay a lower amount.

Go see your creditors eye to eye if possible.  Make a detailed list of your income and expenses, show it to them and see if together you can reach a reasonable new repayment plan.  Should you get to an agreement ask them to give it to you in writing so you can fall back on it should the person you spoke to may be leaving the company and then you have no proof of the arrangement made. Never ever lie to your creditors, be totally honest and keep to your promise religiously. By doing so you no longer have to fear that debt phone calls and letters of demand.  Also never ignore any letters or calls from your creditors.

Unfortunately it will now take longer to re pay your creditors and you will pay more interest as well.

You can also apply for a blacklisted loan whereby you can settle some of your smaller debts so your total monthly repayments will be less than before.  By keep on doing this and not opening any new accounts you will eventually be out of this traumatic time of your life.  Just remember it is a lengthy process so you need to be strong and determined and be willing to live modestly.

Save every month a certain amount, put it in your budget as a much.  Do not be tempted to use it for minor needs; it can be your lifeline in times of major emergencies.

Click here should you need assistance in the form of a personal or personal blacklisted loan.

 

Jun 26

Blacklisted, stressed, you need cash but do not know where to go?

Money problems are one of the main reasons for people getting physically or mentally ill in our society today. Putting up a smiley face towards friends, family and colleagues while your inside is constantly in turmoil because of your financial status and money worries can even result in you having a breakdown and land in hospital.  The medical expenses will also make your finances still worse and you may be battling to get well physically again.

Never be too proud to admit that you have problems, confide in somebody you trust.  Just talking to another person helps a bit but you still need to tackle the actual money shortage problems as well.

Should you be in need of urgent cash in whatever situation speak to you employer and see if they can perhaps assist you with the amount needed at a low interest (or they may even ask you no interest should you be lucky).  Explain why you need the money and agree for them to deduct it from your salary monthly.  Do not be ashamed, your boss may understand better than you think. Perhaps they were in a similar situation at some point in their own life.

If this does not work think about a family member or friend who may be able to help you out.  Although it is difficult to ask forget about your pride and just do it.  Don’t be mad if they cannot assist and think they just do not want to help you.  It can be that their own finance is not so good although it may look different to other people. When you get assistance these ways do not be casual about it.  Money can easily ruin even the best relationship between people.  Draw up a contract stipulating interest and monthly instalments duly signed by both and a witness.  Never skip a payment as your next of kin may have used money they saved for emergencies in their own lives to help you out.

You can also apply for a personal loan from a blacklisted credit provider or through one of their agents, or the brokers acting on their behalf. Looking for a service provider is very easy.  Use the internet, search for the words, loans for blacklisted people, blacklisted loans, poor credit loans or bad credit loans.  On their websites you will find all the info needed  how to apply.  Just make sure you use a trustworthy company that is indeed registered by the NCR, as most unregistered places often try to squeeze as much as they possibly can out of the poor person already struggling, they are not limited on how much interest they ask you, all they think about is their own greed.  On the other hand most registered lenders are serious in helping the client with a not so good record who are in need that cannot get assisted by their own banks, due to them only looking at your credit score and nothing else. Even people not blacklisted but with a low score will not be assisted by them.  The blacklisted service provider consider all facts and know that it is not fair that a person must be penalised for life as there are so many reasons why this blacklisting could have happened to them.  They understand that some things in life like loss of employment, losing a partner now only have one salary to depend on, medical bills etc are not in anyone’s control and could have been the reason for a person being listed for defaulting on their accounts.

If you have a not so good credit record but need financial help click here.

Jun 25

Blacklisted with bad credit and struggling to survive?

Very few people do not have financial problems of some kind due to the ups and downs of the economic stand of affairs we are experiencing in South Africa.  Even people that are not blacklisted are affected  by the ever increasing cost of living caused by factors such as higher petrol and electricity rates, Strikes like these at mines are also very very bad for any economy as it influences the import and exports negatively, and also job losses.

There are various solutionsas to what to do in times of difficulties, like moving to a smaller and cheaper house, if you have more than one car sell one, take your children out of a private school etc. should you not be able to maintain the high standard of life you were used to. By doing this you will still have the means to stay debt free for some time.

What can people not owing their own car or house do?  Lowering your day to day lifestyle can be a big help. Stop going on expensive holidays, visiting expensive restaurants or only buying brand name clothes and consumables. Also consider making use of second hand shops, you will be surprise what bargains you can get there being it appliances or clothes. These few tips can help you continue with a cash only lifestyle.

Unfortunately tthese advice to continue living debt free as before will not help the blacklisted consumer who may already be struggling and may be living on the border line, due to past uncontrolable events that turned their previous positive record to a bad record.  If this is applicable to you don’t lose hope if it looks like you will no longer be able to put food on the table. Perhaps you are already buying from second hand shops, or using no name food brands and now you do not know how you will be able to survive if the essentials you cannot live without are getting more expensive.  There are other ways out for you as well. Arrange with your friends to pass on children’s clothes that are still in a good condition to each other should it get too small for the one but can still fit the other one’s child.

When you have a landline telephone as well as cell phone decide if you really need both.  Keep your phone or cell bill as low as possible.  You can also put two children in one room and get someone to rent the free room (excluding or including meals).

Be in charge of your finances by keeping to your monthly commitments.  Never, ever let there be an unpaid debit order on your bank account.  It does not only make your credit rating worse, you will also have to pay the creditor as well as the bank penalty fees.  Combined it can easily exceed R100 per item no matter how small the amount was you did not provide for.  You get penalised for each and every returned item so it can become quite a substantial amount of money that you really cannot afford to throw away.  Check your bank statement every month for errors.  Should you pick up a debit that you need to dispute go to the bank and ask them to check where it originates from.  Should you not have enough money due to some emergency that happens and are unable to pay a creditor, contact them and make arrangements with them to not debit your bank account that specific month, but you also need to make an agreement of how you are going to pay back that skipped payment?

Another solution to make life easier for one is by applying for a personal loan for blacklisted people but only if you can benefit by it.  Total all your monthly instalments for debt, see if you can reducethese amounts by applying for a small personal loan whereby you can settle some of the smaller accounts.  Do not apply for a big amount as the economic situation is too unsecure and the future unpredictable.  You can pay all extras you now have available making advanced payments on your other accounts.  Not only will your debt be settled sooner but when you have a difficult month this can help you out, by being in advance you can afford to skip that one month knowing your instalment is already covered for.

Today we have to save as much as possible and only apply for a loan in cases of extreme emergencies or like mentioned in the case above, and then pay it back as soon as possible.

To apply for a blacklisted bad credit loan that can increase your monthly cash flow click here.

Jun 24

Pre approved for a Personal or Blacklisted Loan, can I be 100% sure I will get the funds?

The only time you can be 100% sure  is once the money gets disbursed in your bank accoun,t even should the credit grantor gave you a pre quote and you accepted it things can still go wrong.

Pre quotations are of vital importance to both the consumer and the lender for various reasons. When applying for a personal blacklisted or any other kind of loan you are usually requested to complete an application form where you need to declare some personal information. By completing and signing this form does not mean that you are now obliged to take a loan from the specific company.  Without the information on the form they will be unable to see if they can assist and with what amount. You then submit it fully completed and signed to the financial company together with proof of your remuneration details,identification document, and bank statements as that will also be requested by the lender.  They can now take a thorough look and see if they can make you an offer, you will receive a pre equation which you can accept or decline.

Never bargain on the money beforehand as a lot can still happen.  The loan process does not lie in the hands of just one person or department.  It is very seldom that a loan gets rejected after the pre approval but it can happen in instances like where they do a work confirmation as they must make sure all you stated on you application form is correct, and then discover you resigned, or the company you are working for is planning retrenchments of staff, or some other reasons, your loan application can still be rejected even if you signed the contract.  One other reason where your loan amount can re reduced or you no longer qualify at all is beacuse you took to long to return the relevant documents as a pre quation is only valid for a certain time.

If you return it after the expiry date of the pre quote everything must be done from scratch again, resulting in your credit score becoming lower again as this happens every time your record gets checked. To prevent this happening to you send your documents in the requested time period, you are not bided by anything since you are also entitled to a cooling off period during which time you can cancel eventhough the funds were paid out to you.  The client will then just have to pay the full amount back to the credit provider as per there terms.

When one’s application gets send to the vetting department they can discover that there were errors on the pre quote and the client can only afford a lesser amount, or cannot afford it at all.

All banks and other financial service providers  have a fraud department where they know how to look for a false id, pay slips or bank accounts.  Unfortunately  there are some people that is dishonest when applying, but the majority of people do not fall in this category.

Pay outs for loans can be from same day, 3 days, and 7 days or more as it is different from credit provider to credit provider.  Never rely on a certain date as there can be system problems, electricity can go off, or shortage of staff, these can result in a bag lock humanly uncontrollable.

To apply for a blacklisted term loans with possibility of same day pay out click here.

Jun 20

When is it essential to make Budget Changes?

There are some valid points to be considered when drawing up a budget for oneself.  If you did not consider the following points it is time to make changes.

Ask yourself the following: Did I take all expenses in consideration; did I provide for emergency situations, did I take my Gross salary or Nett pay as income?  Depending on each individuals answers to these questions it may be time to make some alterations.

You need to take your take home cash amount, after all deductions (in other words the amount that gets paid into your bank account) make a list of all expenses no matter how small, subtract the expenses from the cash amount available and only then start working out a reasonable budget, one that you will be able to stick to.

A good idea may be to keep all till slips for a week or month so you can see where you can cut back on if necessary.

You may be working overtime on a monthly basis or getting commission, but did you ever think what will happen should the overtime stop, you are on leave or sick leave and there is no more overtime available.  Take your total commission or overtime amounts for 3 consecutive months, divide it by 3 and then by two.  Consider that figure as an income and put the rest on your budget as an expense for savings in times in difficulty or emergencies. Should any household appliances or anything else need to be replaced you will have cash at hand.

First item on you budget must be a monthly allowance for yourself, certainly if you feel like buying you a chocolate, some fruit or whatever you should not deny yourself that pleasure as life is there to enjoy.  Without some spending money for yourself you will soon become negative and depressed.

You now take subtract all expenses from the take home pay and see what money you actually have left.  Should the expenses be more than the funds available take paper and pencil, go back to the drawing board and see where you can still cut back? Perhaps you are buying weekly magazines and some of your friends are buying the same.  See if you can make a deal, one week you buy, the next week your friend buy it and you share reading it.  If there is an article in both want to keep makes a copy of it should it not be your week to keep the magazine.  This is only one small suggestion but I am sure you can think of a lot more.

Work towards a goal, say for example by such and such a date I want to be finish with certain accounts and put all extras you can afford towards that.  After every goal achieved spoil yourself by going to a nice restaurant, going to the theatre, a nice massage or anything else you will enjoy.

This all sounds very positive but you may need a little boost to start going in the right direction by applying for a small personal loan whereby you can settle some of your small little accounts thereby having some extra cash monthly to make your budget work.

Click here should you need such a boosting personal loan. Please do not fool yourself and start spending more as more cash comes available as you never know what the future holds in hand for you.  We all know retrenchments are happening every day and you can be one of the unfortunates. who this can happen to, try to finish all debt as soon as possible and strive to be debt free so it will not hit you too severely.

Jun 18

Need to apply for a Bad Credit Loan, what will be not revealed on my credit report?

The only reason loan providers need to check your credit report is to see what your monthly financial obligations are; some people are not declaring all their debts or some minor accounts may just slip their minds. Your payment profile, total amount of debts and default data will be recorded on your credit report.  Also garnish and judgement details should it be applicable.  It is vital for the blacklisted loan providers or any other credit granting companies to have access to these data so they can see if they can risk granting you credit.

Having bad credit does not automatically exclude you from qualifying loans for blacklisted people. With this info at hand the credit provider will make an informed decision as they are able to see how old the listings are, and what your debts are totalling to

Your salary will not be revealed, the credit company can get that info directly from your salary advice as they need to do an affordability calculation. It will also not mention should you be receiving maintenance or have any other kind of extra income.

Should you be married each partner will have his or her own credit record, your spouse’s name may be stated on your history at some bureaus. Your address, employer (but not your position there) work and private tel numbers will show.  Should you be married in community of property and you are under administration, debt review or sequestration it will be picked up as a joint responsibility and both will be held accountable for that.  Your banking details will also be withheld from your credit report, so the things that are really private are not revealed.

Should you need a personal finance of any kind being it a blacklisted bad credit or any other type of loan must you give permission to a credit check?

The answer is yes If you really need the money and want to work with the loan provider in making sure you will be able to pay back without over committing yourself give your approval.  You do get bad credit loans where they say “no credit checks”, but by applying from such companies is not really to your benefit.

The personal loan provider will ask you to provide them with and id copy, bank statement and salary slip, this together with the insight on your payment profile can help them to make a decision in your favour as they are not holding it against you being blacklisted before.

To apply for bad credit loans click here.

 

Jun 13

Fast and convenient way to apply for a Personal or Blacklisted Loan

In today’s hectic life, time is a big factor and we are always looking for ways where we can save time. There are not enough hours in the day to get everything done, very often people have to work after hours as well just to keep up to date with all their responsibilities.  So it is just natural when you have to apply for personal finance you will also be looking for the fastest way it can be done.

Technology opened a whole new world for us and virtually everything can be done by using the internet.  When looking for a personal loan or loans for blacklisted people one can use this tool sitting behind your desk, or being at home.

Almost all financial companies have websites where you can apply online at any time when it is convenient to you.  You are not hold by office hours for submitting your application; it can be done 24/24, but some lenders will only be able to work on the application during office hours.  Just search for personal loans, blacklisted loans, unsecured loans, bad credit loans, secured loans depending on what you are looking for. You can then choose the company you would like to apply from by comparing them to each other.  Just do not apply at a lot of places at the same time, your credit score will suffer if you do so, it can give the impression that you are shopping around for as much credit as you can get even if it is not the case.  Perhaps you may think it is a good idea to apply at a couple of places at once to see which one comes back to you the fastest.  Unfortunately after every credit check done on you your score will be reduced, it can even be by much as 15 points at a time.

All processes of online loan applications were designed to save time and effort.  The application forms are in most cases only one page and can be completed in a couple of minutes.  As the loans for bad credit and other service providers can view your history in seconds it will also speed up the process.  They need to see what your overall debt is as well as your monthly instalment amounts and your living expenses so they can decide whether you will qualify with them or not. The blacklisted credit grantor are not interested in anything else on your credit report, they merely need to see if the affordability works out, they know reckless lending is forbidden by law and they also need to see if you will be able to pay them back should they approve your personal loan application. Your permission will be needed before they are allowed to to these checks.

Another positive f is that there is not need for you to go into a branch physically to apply a person can be apply from anywhere in South Africa, no matter where you stay, as everything can be done by fax or email.  You will also be requested to forward your personal documents as salary advice, bank statement and id copy to the service provider, their brokers or agents.  These are all tools they will need to see if the client who needs finance can be assisted or not.

If you are a South African citizen, permanent employed, salary paid electronically into your own bank account click here to apply for personal finance for blacklisted or personal loans.

Jun 12

Bad Credit Pay day Loans, How to Escape from this month to month cycle

You may need cash immediately and y within hours, perhaps your children played cricket in the back yard and accidently hit one of your glass doors or windows, so it need to be fixed without delay.  The repairs costs including labour will R2000 just as an example.  It is the middle of the month, you do not have that kind of money, you went into a panic as your family, friends and employer all stated they will not be able to help you out.  Knowing you are listed as a bad payer you then turned to a pay day loan advance company as you are forced to do so.  Many other emergencies can put you in such a bad situation.

At this stage the loan is to your advantage and a good solution, cash is available same day and you can pay it on pay day, as a once off liability.  Unfortunately it seldom works that way. You will have to repay the R2000 with a steep amount of interest added to the original loan amount.  You may now find that you cannot afford to put food on the table for the new month as you have too little cash left after the pay day loan was deducted.  This is where the bad cycle starts, you are now continuing borrowing that R2000 each month to be able to get through with buying food and your other daily expences.

As your boss, friends and family already stated they do not have the means to assist you, or it is against the policy of the company you work for to grant any salary advances you may think you will need to go on like this for ever.

Fortunately there are quite a lot of financial places who are offering loans for blacklisted people, repayable over periods of 3 months 6 months and 12 months.  You can apply from one of these bad credit lenders for an amount that will cover your pay day loan, you can then escape this month to month rut by settle them in full, benefits being you have a longer period to repay, your instalment will be much lower monthly and you will be able to life like normal again.  Once you settle this new loan try not to apply for any other loans again, rather put some money aside for times of emergency. Some of the blacklisted money providers can also do same day pay outs.

Even if you take such precautions as saving some cash for these rainy days it can happen that you will come into a situation where you will need cash funds again and your savings are not enough.  It will be wise to then rather apply from the blacklisted service providers offering these longer repayment times.

What never to do.

Never ignore your liability to the pay day lender.  Pay them what is due to them.  After all they did help you out of a difficult spot by lending you the R2000 initially.  You also agreed to their interest fee well knowing they charge a very high interest rate. Also do not think of changing your bank account t without notifying them.  Should you do so you will be dishonest and also damage your credit record immensely.  By trying to run away from your responsibilities you may end up in a situation where the pay day lender can get a garnish or judgement against you, resulting in you paying back double or more than what you originally owed.

 

If you are in need of a term loan please click here.

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