Blacklisted loans and finance for people with bad credit to buy a car, help with debt consolidation or for home improvement for example is available online but not as straightforward to get as a normal personal loan. ABSA, Nedbank, Standard Bank and FNB are operating under tight rules when it comes to lending money to borrowers and even if you are listed as a slow payer because of being a few days late with an account payment you may struggle to be approved for finance. The good news is however that there are other lending companies that have nothing to do with the banks in SA and a few will be a bit more lenient in lending money.
Security is the key to getting blacklisted loans and finance from a credit provider if your credit record is bad and signing an item of value against borrowed money in the form of a secured loan is usually the only way to borrow in these circumstances. Caution must be taken seriously with this kind of solution though as signing with a credit provider for secured finance gives the lender the right to take your home or item of value that you sign over in the event that you default on paying back the borrowed cash.
A simple form is all it takes to be filled out by the applicant and can be submitted quickly online. That application is then used to check your credit record and a decision is made on which financial credit provider will be in the best position to help lend you the money you need. In some cases a letter from an employer or other documents maybe required in order for an application to be finalised and approved. In cases where people are blacklisted to such an extent that no lending company will be willing to help out because of the risk, applications can be submitted to a debt counselor for help in matters of getting out of debt and trying to clear a bad credit record for good.