Loans For Blacklisted
Unfortunately, in life, we need to apply for credit, personal loans, clothing accounts etc. So that we achieve our goals and acquire what we need. When financial difficulties strike avoid defaulting on any account as best you can.
The company that you owe money too can Blacklist if you do not pay them their money back. This is not a pleasant experience if the situation was not entirely in your control. When you do experience this try to negotiate with the company to make payments as best you can to settle the debt.
It is in the Creditors interest to get their money back so they will look at negotiating with you. Unfortunately, there are some Creditors out there that might not want to listen to reason or will demand the payments that you agreed to make.
When you do see yourself heading into financial difficulty getting a Debt Consolidation loan before you get into to real financial trouble can be an option for you to look at.
Read More: Wesbank Debt Consolidation Loan.
Defaulting On An Account
When you do default on an account the company will hand over to their attorneys to try and get their money back. If the cost too much to appoint an attorney then the debt will be written off. In that, case the company will hand over the collection of the money to a Debt Collector.
This will mean that the debt you owe can increase as Debt Collection companies charge additional fees to collect the money from you. If you do settle the debt by paying the Debt Collector this process will stay on your Credit Record for about two years.
Judgments granted from the high court exceeds amounts above R100 000 and from the magistrate’s court below R100 000. If you pay the outstanding debt from the judgment of the magistrate. The judgment can still reflect on your record for five years.
Loans For Blacklisted
If you are Blacklisted and is trying to get a Personal Loan to move forward again.
There are some loan providers that do assist the South African public that has been Blacklisted with Personal Loans.
Visit Black listed express
Read: Wesbank Cash Power Loan – Consolidate Your Debt