Use the credit blacklists checking facilities in South Africa to know your financial record. It’s a good way of keeping track of where your credit is.
Having a reasonably good financial history is essential to getting by in today’s world. Most of the things we want and need in our lives require getting a loan. Cars and houses are just two of the many.
Cell phone contracts and store accounts also require a good credit history.
Qualifying for a loan or contract is only half the battle. You must be able to prove the following:
- Prove that you have a regular income which will cover all your living expenses. And the payments on the loan or account.
- That you have a good credit history with no previous instances of non payment or under payment.
Without a good credit record no financial service provider or store will give you a loan, contract or account. It is almost impossible to afford all the living essentials without a loan, contract or account.
Also See: Blacklisted and Need A Loan?
Houses, cars, cell phones and all the rest are core to our functioning in the modern day world. We would be lost without them and probably unable to earn a living.
Monthly income is generally not enough to allow us to buy all the expensive essentials that we need in cash. Therefore getting loans, accounts and contracts are essential.
Having a good credit history becomes one of the most important things in our lives.
Is all Lost if you are Already on Credit Blacklists?
If you have debt it is important to apply for debt review with a debt counselor.
The debt review process, whereby a debt counselor negotiates with your creditors on your behalf. And helps you organise your finances so that you can pay manageable amounts to creditors every month.
This could save you from a bad credit record.
If you wait too long however, the debt review process cannot help you. Once you have been issues with a court summons, you will have to face the penalties on your own.
If you are on credit blacklists in South Africa already and there are still a number of years before you will be wiped clear, you can pay for early clearance.
If you have the money to do so, it might be a good idea to get your name wiped clean as early as possible. So that you can start working on your credit history from scratch.
Because do not forget that without a credit history there is not much you can do about expensive essentials you need.
To sum, all is not lost if you have a bad credit history. If you have survived the debt, you can start to manage your money better and work on small accounts that you CAN afford. Pay them off on time and never miss a payment.
If you have been wiped clean after blacklisting it may be difficult to start anew. But if you do it carefully, manage your money well and keep track of where your credit history is, you should be just fine.
Blacklist Checks and Keeping Track of Your Credit Record
From the above it is clear why it is important to keep track of where your debt is and how you are managing it.
You only have a small window of opportunity to get help in the form of a debt review before you will have legal action taken against you.
Use blacklist check facilities to know your credit record. So that you can start taking charge of your financial situation and keep yourself out of trouble with debt. You will not regret acting now to better your situation.