Bad credit loan approval – helping blacklisted people obtain credit in Durban.
Debt isn’t fun. Having to manage it is even harder work. However, no matter how dedicated you may be in trying to keep in control of your finances and bring those debts down, your credit score is still struggling. With this unexpected cash flow emergency that you are now faced with, you’re feeling a little lost with who to turn to. The great thing, however, is that there is someone out there. Many “someones”.
As an individual with a poor credit record or potentially blacklisted, it’s always a good idea to try and source personal loan approval for your emergency through someone you know if at all possible. That way you can avoid the interest as well as the potential rejection. Depending on the amount, will depend largely on whether this is possible. For every other scenario, you will need to consult a lender.
Traditional lenders such as the banks aren’t in favour of lending those who are blacklisted or have poor credit scores, with further credit. It makes sense since this only aids the problem, apart from the fact that you are a flagged as a bad payer. Luckily for those that are in this compromising position, there are solutions out there to meet the demands of your further credit requirements and get you quick loan approval when you need it.
What do I need in order to qualify?
Searching for bad credit loan approval in Durban on your name might seem like an impossible task. But the truth is that no matter where you are in Durban, you can simply apply online if you meet certain criteria that each lender offering this loan requires.
To qualify you need to be over the age of 18, possess a green bar-coded South African ID book and be employed full time. An affordability assessment is done in place of the typical credit check. Simply because you could have attracted a far more improved disposable income in recent months, even though your credit score is not yet clean. If a lender with bad credit loan offers sees that you can afford the monthly repayments, then the chances are high that they will offer you short term loan approval.
What are the fees & costs involved?
Certain companies don’t charge any fees at all and are free. Others are free the first time, while others might have an administration fee. The primary thing is that most of them are upfront with their fees. You will be aware of what you’re liable for from the outset.
Concerning the interest rate, this is ordinarily fixed for the entire period of the loan agreement. The loan agreement is drawn up in the form of a quotation which stipulates the charges, fees and interest that you would be liable for. At this point, it is up to you to accept the quotation or not.
Lenders make it their business to be registered with the National Credit Regulator, meaning that responsible lending is a part of their policy and commitment to you, to offer you payday loan approval if they ascertain that you can afford to repay.
How do I apply?
Bad credit loans are no different from traditional loans, whereby you can apply online with ease from wherever you are, provided you have an internet connection. It is also important that you have 3 months’ bank statements handy, as well as recent payslips reflecting a minimum monthly income of R3000.
By filling your details through the online application form and uploading the required documents, you can expect to receive instant communication on the outcome of the loan once all is complete on your end. It takes just minutes to apply, and if your affordability passes the test, you can expect to have your bad credit loan approval and the funds transferred into your account the very same day!
It’s never been simpler to achieve a loan with bad credit. The only time you might encounter an issue is if you are undergoing a debt review, in which case many lenders might reject your loan application.