Getting a loan whilst you are in creditor’s bad books will tax you with your finance and time. Running from pillar to post looking for the best rates, let alone a lender who will lend you money, when you are blacklisted is a task. With a quick search on the internet I think you will find that you can find a lender who will give you a loan with your bad credit rating.
Get a loan with bad credit by meeting these requirements and you will be on your way to secure a loan with most lenders:
- Be a South African with a valid ID
- Your three latest payslips
- Make sure your salary was deposited in the same bank account for the previous three months
- Check your affordability by making sure your monthly expenses will fit in with the amount you will likely pay.
If you are under administration or in any kind of debt restructuring program you cannot apply for most loans.