If you have been looking for a loan through the traditional methods such as banks and you find that you cannot qualify with them as you are blacklisted or they inform you have a default or adverse listing this can be quite frustrating especially when you need the funds urgently. Most people may not even know they have any kind of bad credit until they go online to apply for such services.
People often forget that they owe small amounts of Money and typically these small accounts come in the form of Doctors, Lawyers and other small accounts that a person may have. If you contact details have changed and these service providers cannot contact you then what they do is list you on a credit Bureau. While these are small amounts this can impact you ITC negatively and prevent you from getting that much needed credit.
In South Africa today there are many companies that are willing to assist you even if you have bad credit. These companies understand that life may sometimes not be fair to you and as a result you may get some adverse listing against you. With the world economy just coming out of recession and millions of people loosing they job one cant help it if they find themselves in a financial predicament.
Unlike conventional bank loans these private companies have less strict Criteria and you can still qualify even if you are blacklisted. While they still need to follow rules as per the NCR these companies products are designed to assist clients whom have bad credit.
Getting a blacklisted personal loan is quite easy and we at SA Loan Services offer a quick and easy solution to your problem. Our application process is simple and all you need to do is complete an online application form. We have years of experience in the loans industry and know all the legal requirements so that you get that much needed help.
People who get a loan with bad credit often find that they pay a much higher interest rate then with banks. The reason for this is because due to the adverse listing on your name the company seeís you as a higher risk and therefore charges a higher interest rate. As per NCR regulations 2013, the maximum allowed interest rate is 31% per a year for loans 12 months and more and 5% per a month short term loans. The interest rate does not include fees such as initiation fees, monthly service fees, insurance and commission.
When signing any personal loans document it is always best to read all the terms and conditions first to make sure you are happy. Most companies are transparent and within NCR regulations but itís always best to make sure for your own safety.