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Loans for debt review clients in South Africa

by | May 19, 2022

loans for debt review clients

What We Do

If you are struggling to keep up with mortgage payments and your property is at risk of repossession, we can help. Real Estate Assist helps by Unlocking the equity in your home to provide for necessary family matters.

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If you own a property and need debt consolidation without debt review, contact us

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Debt review client loans and what you need to know

Who can apply for a loan?

  • You must be in debt review.
  • Will need to have an income of at least R3000 per month.
  • You must also have a clear credit record.

Things to consider before applying for a loan.

Before deciding to borrow money, you need to consider a few things. Firstly, it’s important not to borrow more than you can afford. If you do this and then find yourself unable to repay the loan, there is a good chance that your credit rating will be damaged in the process.

Secondly, while it may seem like an attractive way of getting quick cash when life gets tough, borrowing from a loan shark is never a good idea! They’ll charge extortionate rates of interest and could put your safety at risk if they want their money back quickly.

Which type of loans are available?

There are many types of loans for debt review clients. You can borrow money in order to:

  • Consolidate your debts and reduce interest rates
  • Escape the cycle of borrowing from loan sharks or payday lenders
  • Pay for a new car, computer, or vacation
  • Start a business and buy equipment
loan shark

You can apply for secured or unsecured loans depending on what you need and how much you want to borrow. When you have collateral like property (your property is your solution) or shares, this means that the lender will take it as security against the loan if you do not repay it as agreed. If you don’t own property or stocks, an unsecured loan may be more suitable for your needs.

You’ve applied for loans before.

If you are a debt review client, it’s important to check your credit report before applying for any loan. This is because if it shows that you haven’t paid back loans in the past, this may affect your ability to get another loan.

If you’ve applied for loans before but find that your credit report shows incorrect information about your current financial situation, there are steps you can take to fix this and improve your chances of getting approved:

The good and the bad of loans.

  • The good side of loans.
  • The bad side of loans.
  • Pros and cons of different types of loans:
  • Student loans are one type of loan that many people have to take out in order to go to college or graduate school, but they have their disadvantages as well as benefits. One disadvantage is that they’re usually very expensive and come with high interest rates, so you’ll be paying them off for a long time if you can’t pay them back right away. Another disadvantage is that there are usually limits on how much money you may borrow each year (or sometimes over the course of your entire education), so if the amount you need exceeds what’s available, then it could take longer for your student loans to get paid off than expected or even not at all! On top of these issues comes another problem called “defaulting.” If someone defaults on his/her student loan payment obligations, then he/she risks losing [his/her] driver’s license; professional credentials such as licenses from physicians; ability to continue working until finding new employment; state-funded assistance programs such as food stamps or welfare assistance programs like Temporary Assistance for Needy Families (TANF); federal government assistance programs like Social Security Income (SSI). In addition: A student loan will typically have much higher interest rates than other types because defaulting means losing access to vital services like those previously mentioned above which could lead into homelessness due lack adequate financial means necessary maintain oneself adequately through adulthood after graduating college.[4]

Having debt doesn’t make you lazy.

Having debt doesn’t make you lazy. It’s more of a sign that something is wrong, and it can be difficult to pay off the debt. But with the right help and guidance and financial education and empowerment, it’s possible to not only get out of debt but also start saving money for retirement and other goals.

Debt happens when you spend more than your income allows. There are many different types of debt: student loans (for college), medical bills (from a missed appointment), credit card balances (unused points), car loans (for buying a used car). Sometimes people take out these loans because they want to buy something they think will improve their quality of life—a new TV or laptop computer or car—but never use them enough to pay back what they borrowed by their next paycheck.*

Loan

How to avoid falling into the debt trap again.

  • Avoid taking out another loan.

If you have trouble with debt, the best thing to do is avoid taking out another loan. The reason why it’s so hard to pay off your debt is because it can grow quickly if you don’t know how to manage it properly. If you take out another loan, that will only make things worse and add more stress on top of what you already have.

  • Make a budget and stick to it!

The first step in avoiding falling into the debt trap again is making sure that everything is under control before getting into any new commitments or obligations. Learn how much money comes in every month and how much goes out, then make sure everything balances out at zero each month (or better yet, leaves some wiggle room for emergencies). This will ensure that there won’t be any surprises later down the road when unexpected expenses come up unexpectedly because they were already factored into the budget beforehand! Don’t forget about retirement savings either – these are important as well!

There are many ways to get out of debt, but they all involve making difficult decisions and changes in your life.

It’s not easy to get out of debt, but it is possible.

It’s a problem that many people struggle with and there are some great ways to get rid of your debt. However, you must be careful when choosing a company or program to help you with this task. There are many fake companies who just want to take your money and run away without solving any problems for you in return.

You need to find the right person or program that will work with you on getting out of debt. There are lots of people who have been able to pay off their debts completely because they were smart enough not to fall prey into scams by bad companies! If you have a home loan contact us for a free solution consultation.

If you own a property and need debt consolidation without debt review, contact us today.

Disclaimer: The information provided in this blog is for general informational purposes only and should not be considered legal or property advice. We do not take responsibility for any actions taken based on the information provided in this blog. It is always recommended to seek professional advice for your specific legal or property needs. Contact us (Real Estate Assist) if you seek such advice and we will appoint a professional from our team to be of assistance.

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Please Note: We are unable to provide assistance if you do not own a property. Real Estate Assist specializes in helping property owners who are experiencing challenges with their mortgage payments. If you own a property and require support with debt consolidation without going through the debt review process, our team is here to help you explore options to unlock the equity in your home for necessary family matters.

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