#loans for blacklisted
Cash Back Finance
PERSONAL LOANS UP TO R120 000
Please note that all our lenders are registered with the NCR. See the below guidelines when applying for a loan:
ANNUAL PERCENTAGE RATES
(unsecured credit transactions) Initiation fees: R150 per agreement plus 10% of the amount of the agreement in excess of R1000 but never to exceed R1000 Interest rates :RR X 2.2 + 20% per year.
There should only be initial cost if your monthly debit order was unsuccessful as a result of insufficient funds or changing bank accounts without prior notice to the service provider. The service provider will try to contact the client in order to resolve the problem. If the client can’t be found or the problem can’t be solved, it would be handed over to the internal collections department to see if a solution to the problem can be found. If an agreement can’t be reached, the lender can make use of an external collections company or an attorney. This will lead to an increase in fees and interest. The client will be listed with all the major Credit Bureaus. You will probably find it very difficult to buy anything on credit or get any type of finance. It might even be difficult to open a bank account.Paying back creditors for money you owe them will also not be enough to clear your name you still have to get legal help to get consent from your creditors to remove the listings.Certain company’s would not remove defaults listings even if the account is fully paid. Your records will reflect that the account has been paid up but still listed under your name. This will have a big influence on the clients credit score and it will be very difficult to get any more credit from any loan provider. Monthly premiums for loan repayments will be done by direct debit order collection from the clients bank account. Unsuccessful debit order collections may result in the client being charged a fee by his own bank for the unsuccessful transaction.
If a client is up to date with his loan repayments, they may qualify for a second or third loan depending on the criteria as set by the loan company. The client will have to apply again and the loan provider will look at the clients profile, affordability, etc. The loan provider will then make a decision based on the rules and regulations as set by the NCR.