The tool many people use to help them get out of their poor credit situation is to apply for easily obtainable blacklisted loans.
How does it happen that so many people are blacklisted?
People fall behind on their payments due to the difficult financial times we experience in South Africa. Good salary earners lose their jobs, while others have to accept a minimum salary with the result that they have to lower their living standards as well.
Unfortunately, debts do not become less. On the contrary, your creditors still expect you to honor your commitments. Some of them will settle for lower monthly repayments but will penalize you by means of additional interest charged on arrear accounts.
What effect can a bad credit situation have on your health?
Stress, anxiety and depression are very common among people who suffer extremely as a result of their poor credit situation.
Does poor health contribute to your bad credit situation?
The answer is a definite yes. Most people are honest and really want to meet their commitments but are unable to do so. These people very often suffer from anxiety stress and depression that can only be controlled by expensive medicine.
Can you be helped by means of applying for blacklisted loans, and is it really a solution to your debt problems?
Yes. It can help you solve your debt problems without you losing further credibility by going under administration or debt review.
Do you benefit by applying from a lender offering loans to people who are bureau listed?
Financial lenders who offer unsecured loans to people in need of a loan are specialized in helping you get back on track again, thus you will surely benefit by applying from a loan.
Most of these lenders can offer you a variety of options and can help you to select the correct loan product for your own individual needs.
Are you allowed to open accounts again if you applied for a debt consolidation?
You certainly are. You can better your current situation by applying for an unsecured bad credit loan, debt consolidation loan, or a combination of a personal and consolidation loan whereby you can also get some cash back.
What is the difference between applying for debt council and applying for a debt consolidation?
People often get confused by thinking it is the same. It is not. With a consolidation loan your debts get settled at once, and you only have one installment to pay instead of various obligations.
When applying for debt review, your accounts are NOT settled at once. Your debt councilor negotiates for lower monthly installments with your creditors. You then pay the debt councilor a set fee for acting on your behalf.
This is a voluntary arrangement and you may cancel it at any time, but why go the long route of paying for years when you can become debt free at once by applying for a debt consolidation loan with no limitations when you may need financial assistance in the future again?
Lenders offering blacklisted loans to the consumer are experts in helping you back on your feet again and are there for the consumer who are reaching out for help.