Need a loan to help you through a rough patch temporarily or for consolidation of bills and payments that have to be paid regularly and are getting you into a lot of debt? With many countries of the world experiencing financial difficulties a lot of the major banks are tightening their belts and very careful these days with exactly who they lend money to. This is the case in South Africa where banks such as Nedbank, Absa, Standard bank and FNB are governed by strict rules in the National Credit Act Law that restricts them from lending money to people who are blacklisted or have a bad credit record.
Someone that does need a loan urgently will have no success with the banks in the current financial circumstances and is better off applying to borrow money from private financial credit providers especially if blacklisted. There are so many different reasons people require the extra cash. Some want to be able to consolidate their debts so that they are left with a single payment each month instead of many, others require maintenance or repairs done on the car and there is no extra cash to spend in this area. Then there are those who really feel they need a holiday or break and do not have the extra money for this at the moment and would like to borrow the finance temporarily.
Smaller amounts can be available in a persons account within 24 hours especially in cases where credit records are excellent or there is security to sign against money borrowed such as a house or property. With the laws being so strict a person has a record of all actions taken and applied for around South Africa. For instance if you applied for a credit card last April at Standard bank in Cape Town and now you want to borrow money from Nedbank, that credit card application will be on your credit record even if it was denied, everything gets recorded. Credit checks can be done for those who would like to see their financial history before they inform a credit provider that they need a loan to help out with a financial situation.