Getting approval for a loan nowadays can be quite challenging. Mainstream financial institutions have stringent qualifying criteria, making it harder for individuals with bad credit to apply.
How to get access to high risk loans guaranteed approval in South Africa:
Individuals with bad credit are often considered to be high risk by lending institutions. This is generally due to the risk that comes with possibly not being able to recoup costs associated with the loan. Some lenders are however willing to provide bad high risk loans.
As an individual with a bad credit record, there are ways to get access to high risk loans with guaranteed approval.
It’s important to make sure that you only work with only registered credit providers, who are National Credit Act-compliant.
To qualify for personal loans with bad credit in South Africa, you generally need to be in permanent employment for at least 6 consecutive months and you need to prove affordability.
Lenders want to see that you are in reliable employment and will be able to afford repayments comfortably. In this case, your affordability is more important than your creditworthiness.
Make sure that you repay all your outstanding debts and keep up to date with any current debts you have.
You could get a co-signer for the loan. This could significantly improve your chances of qualifying for personal loans with bad credit.
Alternatively, you could approach a specialist provider of high risk loans.
Mr Cash Loans
A benefit that comes with applying for a loan from Mr Cash Loans is that the loans are unsecured, meaning that applicants don’t have to worry about putting any collateral up as surety.
Mr Cash Loans is also a responsible lending institution, so it will assist you in obtaining the ideal loan solution for your individual needs.
Mr Cash Loans is completely transparent about the entire process, so there are no hidden costs involved.
With Mr Cash Loans, each customer’s credit profile is updated each time the loan is repaid, which counts in their favour for the next time they need to borrow money.
To contact Mr Cash Loans, call: 086 722 7109