Since the introduction of the Internet by the American Military for civilian use, it has expanded to an industry on its own. In fact almost all industries now depend on the internet for integrated business performance. Continue reading
The process of applying for a loan can be sometimes a lengthy one, sitting in an office and signing different pages. However Loan Masters have an easy way that is fast and convenient.
About Loan Masters
Loan Masters are a credit lender that specializes in consolidation loans, bridging finance, debt consolidation for home owners and a wide range of financial products. It’s an online platform that allows borrowers to apply in the comfort of their home. Click here to apply online today !
The term blacklisted is a dreaded one, when you get blacklisted, your capacity to borrow money freezes, especially with big banks and established financial institutions. Banks will not even look at your application and your ability to pay back the loan.
Blacklisted Loan Defined
- Micro lending companies often use this term to describe credit customers who are blacklisted and have a negative credit profile.
- It means the person has failed to settle their loans in time, or have lots of credit they can’t handle, they sometimes skip payments, this bad credit is on their credit record.
- In South Africa there are companies that are not adverse to credit seekers with bad credit record; you can find such companies online that have a niche market on this sector of the industry.
- Every company that offers credit to blacklisted individuals have their own systems of checks they put every credit seeker through. Interest is usually high because of taking bad credit consumers.
Loan Masters – Consolidation loans Defined
Consolidation loans are basically one large amount you borrow from a bank or credit provider with the sole purpose of closing off all small debts. Then you will only have one big loan to settle. Consolidation loans are a form of financial discretion when you cannot cope with numerous debts or even forget to pay them. It happens that you could have a credit card, multiple fashion clothing credit, furniture, school fees, utility bills, car payments, appliances credit and you name it. All these small credit come with interest. So at the end of the month you may be paying 5 to 10 interests on different debts. The advantage of debt consolidation is that you will only have one interest to pay off, which can save you money in the long run.
Loan Masters – Bridging loans Defined
Bridging loans is a type of a financial product that is designed to cover your financial needs till you get money or funds that you are expecting in the near future. Bridge loans are perfect when you know an investment will pay off, a pension fund will be made available to you or any payment that is under contractual obligation to give you money in the near future. Bridge loans also extend to companies who have contract to work but lack funds, they can request the loan and carry out the work and when the contract pays the company, then the loan is settled in full. Most popular bridge loans are for pension funds, road accident fund claim, property sales, property commission.
Pension funds: You can wait up to 6 months before documentation is fully processed and receive the pension fund. During this period you can request a pension fund bridge loan that will cover you till you have funds transferred to your account.
Road accident fund claims Sometimes you may have to wait for full 12 months before you can have payout by the RAF. The bridge loan based on accident fund will allow you to have cash while you wait and you can take care of your medical expenses and daily cost of living.
Sale of property: when your property is sold, you can wait for 6 months before you see any money transfer into your account. You can access bridge loan for property that will see you through the months and when the funds come, you can pay off the loan.
Property agent commission: Agents when they sell a property are entitled to a commission. It also can take months to process; you can use the loan to cover your needs till you get the commission money.
You can use our finance calculator or apply for a loan.
In life there are endless financial needs. You will have to pay utility bills, buy airtime or settle contract bill, buy groceries, pay school fees, pay transport fares, the list goes on. This could be your monthly budget. So what happens when something comes up you did not budget for? It may be an emergency or just that special at your favorite shop that comes once a year. What do you do to get a small to medium loan when something comes up that is not within your budget? In this case you need quick cash.
Loans are necessary in today’s world to make ends meet. When facing a time of difficulty or just need it for celebration of life memorable moments such as throwing your only child a graduation party. To express joy and happiness for finishing one of life most important milestones. Loans are for emergencies but also for memories when you can’t afford.
If you are suffocating due to debt and afraid of asset loss, there is hope. You can have a negative listing revoked. Finances are the core of most problems that people face every day. The situation is made worse if you can’t get help through access to credit or some way of temporal financial aid. In South Africa roughly more than 2 million people are blacklisted. 17 million are credit consumers. This means the way to financial freedom is not easy for the working majority of the country. When you are unable to pay, creditors will place a listing on your credit profile with the credit bureau. Getting credit will be a serious challenge for you. Application for loans or accounts will be declined.
Did you know that a negative status on your credit record can stay up to 5 years by law? It’s clear that no one ought to be negligent when it comes to issues of credit. Financial prudence must be exercised when taking credit. As difficult as it may be to settle debts on time, its best done so that you won’t end up having judgment passed on your credit. Loaning out cash is simple, but the issue comes when it’s time to pay it back in the long term. Getting approved takes 15 to 30 minutes. But paying off the loan will take months. Depending on the type of loan you request, you may run out of steam to pay your debts. It’s crucial that you have disposable income to see you through every month, so that when cash is needed in an emergency you are prepaid. Continue reading
A guide to remove the Default/Adverse listing(s) from your credit records.
Before the year 2007, consumers had limited rights. Companies used this limitation to their advantage. Things changed to better the consumer powers through the National Credit Act 34 of 2005 when it became law in July of 2007. Since the Act consumers have been slowly getting acquainted with their rights. The National Credit Regulator worked tirelessly to ensure that all credit providers and credit bureaus are informed with the law and rights consumers have. But there are still credit providers that are exploiting the consumer’s lack of awareness and purposefully transgress the law.
Conditions under which a Debt Review can be Terminated and Removed from your Credit Bureau Profile
- Unsettled Accounts under debt review
An order of court debt review can only be rescinded by the court where the debt review originated. Meaning you can only do it thought the court by an application to the same court the review was made. Payments of installments will be made directly to the creditors when the debt review is rescinded. You can negotiate terms of payments with your creditors. When a debt review was not made an order of court, you should make an application to court and state your financial position stipulating that you are not in debt.
Approval or Declining credit application is not solely based on Your Credit Profile. All Credit Providers in South Africa have structured own risk classification, risk management according to their business operational model. Credit providers employ different standards from Credit Bureau Score system and thus they usually have their own standard for a credit profile score. With that said, every credit provider is legally bound by the National Credit Act to check your Credit Profile before credit is given to the consumer. Also when credit is given, it is by law that the credit provider has to log in your details, the amount of credit requested and the duration term of payment.
If you are looking for reliable car finance company , look no further. Carfin for years has offered very affordable and flexible car finance. Buying a car is an exciting thing, holding car keys in you, walking towards the car and opening its doors. The smell of new leather and the feel of the steering wheel. The feeling you get when driving it to friends. Continue reading