Question:
I have a debt of R 122801.58 that I owe African bank and I’m prepared to pay it back in 36 months but all the banks are rejecting me. Please give me advice. I have been to debt review but now I’m no longer interested on it I just want to settle my debt and one instalment. I’m not a homeowner either.
Answer:
Good day,
The reason why you are being rejected for a loan is most probably due to your affordability and your credit score. You can try communicating with your credit providers and attempt to re-negotiate your payment terms. If you do not want to go under debt counselling, then it is advised that you draft yourself a budget, taking out or even cancelling all unnecessary costs and expenditure to assist you in making your monthly debt repayments.