Although signs show an upturn in the economy, many Americans are deep in debt, and not everyone can work overtime or a second job to pay down that debt.
Consolidating debt with a bad credit rating
Loans for people with bad credit are intended for people as the name would suggest are blacklisted, have garnishees on their payslip OR someone who does not have enough security to apply for a personal loan.
However, if you have been placed under debt counselling/administration you’re not allowed to apply for loan. Here are the requirements to qualify: - You must earn at least R1,500 pm - You must have proof of income - You must have a valid ID document - You must have a valid bank account from a SA bank - You must be permanently employed.
If you reduce your debt you can start to improve your credit record.
Click Here - Loans For People With Bad Credit Who Can Qualify For A Bad Credit Loan?
Having a bad credit record can be frustrating and trying to get a personal loan from your bank can be a nightmare when you have a poor credit record.