Great Tips for Blacklisted people that need a Loan
Being blacklisted is not the end of your credit road for you. South Africa has a lot of registered credit providers that are willing to look at your case and help you apply for a loan (in the case of facilitators) or even loan you the funds themselves.Here are Great Tips for Blacklisted people that need a Loan.
Therefore you can go straight to a credit provider to apply for a loan and you will get your answer sometimes within minutes depending on the loan amount. The best thing to do in most cases for blacklisted individuals is to go see a credit facilitator. These are the people who apply on your behalf to credit providers and facilitate your application process to give you a better chance of being approved for a loan.
Let’s look at credit facilitators and how they help people who are blacklisted but need a loan.
A loan is often looked at case by case to see if you qualify. Credit facilitators that apply for a loan for you are experienced enough to know how to present your case to lenders and which documents and information is needed when presenting a loan application to registered credit providers. Information that you would normally have to have are your monthly expenses, monthly/fortnight salary, SA ID book and employment record.
Tip: make sure you are able to afford a loan by calculating your monthly expenses. You will most likely be approved if you can show that you can afford the loan. Do not cheat when calculating your expenses as credit providers can easily check what you are paying to other credit providers. Make sure you calculate all your expenses including your groceries and clothing accounts.
Tip: keep a record of how you are paying for the debts that you are currently blacklisted for. A track record of good financial management will look good for credit providers. No credit provider wants to get into trouble with the NCR for giving a loan to a person who is unable to pay their debts.