Blacklisted individuals often have a hard time finding loans when they need them the most. Banks are often not willing to take risks on individuals with a bad payment history. This was made worse by the financial crash of 2008. Fewer lending institutions have simple lending criteria. Institutions want to be sure that they are lending to individuals who can comfortably afford to make repayments.
Being blacklisted can be as a result of numerous factors. You may have been fired or retrenched – resulting in you being unable to meet your credit obligations. You may have had a medical emergency that requires large sums of money – leaving you without much disposable income. This does not mean that you can’t access funds when you need them. It’s always advisable to only get a loan if you can afford to make the necessary repayments.
Loans for blacklisted individuals are often unsecured loans. These loans are offered on a short term basis (usually no longer than 30 days). Blacklisted loans Pretoria specialise in providing loans for individuals with bad credit.
It’s important to consider that interest rates that are offered differ per individual. Borrowing as a blacklisted individual often means that you have to pay higher interest rates. This is to cover the risk financial institutions have as a result of lending to you.
Comparison websites may offer the best assistance by finding the ideal loan solution for your individual needs.
In South Africa, finding a loan as an individual with bad credit is not as difficult as it used to be. The majority of companies are approved and regulated by the National Credit Regulator. Using a comparison site is usually your safest bet as the websites listed are approved and reliable lenders. These sites may also help you source the ideal loan solution for your individual needs. Blacklisted loans Pretoria has simple solutions for individuals with bad credit.
Applying for a loan from blacklisted loans Pretoria is simple, because like most lenders, they require you to submit documents online. Once you are approved, you usually have immediate access to the funds so that you can take care of your urgent financial needs.