Blacklisting the blacklisted loans headline

Need money? Quick cash, same day payout, blacklisted welcome are the main keywords used by some credit providers to bait financially distressed consumers to visit their establishments. The South African government is not impressed with this sort of advertising. A loan product promotional message that claims  to welcome people who could not lawfully obtain credit or are unable to obtain credit because there is proof that they are not able to pay their debts amounts to false advertising. The main problem is the consumer lack of understanding on what constitutes a blacklisting.

Being sloppy in paying your debts does not mean you will end  blacklisted. If you are paying your credit accounts and you keep paying, slowly but surely you will finish paying your debts and your credit provider will smile all the way to the bank because being a slow payer attracts penalties in the form of hefty interest charges.

Who is welcome when the claim of blacklisted welcome in made?
The reason some credit providers use blacklisted welcome in their advertising messages stems from the fact that most consumers who are behind on their loans or accounts repayment obligations thinks they are automatically excluded from getting new loans or more credit because of their conduct, being slow or erratic account payers. They stop looking for formal credit or loans from registered providers even though they can still qualify. This is why some legitimate credit providers use blacklisted welcome in their advertising messages.
Who is not welcome?
If you are under debt review or administration then the blacklisted welcome advertisement do not speak to you. Do not waste your time making enquiries in the hope that this people will give you a debt consolidation loan or any solution that will make your financial problems go away. If they claim to have a remedy or some sort of help.Then they will ask you to pay upfront fees to remove your name from the credit bereau. If you pay these fees you will be scammed and they will keep asking you for more and more money until you give-up. If something is too good to be true, it usually is.


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