by MBC Finance | Articles
It is extremely easy to find yourself drowning in unmanageable debt. It can happen easily through overspending using credit cards, partial or full loss of income, retrenchment or racking up many bills. Failure to pay your debts, for whatever reason, means that they will simply amass and probably grow to become unmanageable. Accumulating debt that’s beyond your affordability or cash flow is the fastest way to damage your credit rating. Money loans, especially short term loans can be the answer you need to get out of debt quickly! Short term loans can give you the necessary assistance to reduce your debt and maintain a clean credit record, if used appropriately. Money loans can ensure that you do not miss payments to creditors, especially existing payment arrangements, which will further harm your credit rating. If you are in a desperate financial situation, which requires proactive steps, you can apply for a short term loan that can also be redeemed over a short period of time. Money loans can help you pay instalments when you are between jobs. A short term loan can assist you in paying off and clearing major debts, while you focus on paying smaller ones. They are also a suitable form of bridging finance, for instance when purchasing a vehicle and awaiting your bank finance you may need to pay a refundable deposit immediately in order to secure the car. You can bridge the gap through a short term money loan, which will also aid you in the event of a compromised credit history. Many people pay their transfer costs when buying their homes with short term...
by MBC Finance | Articles
The average person will normally do everything in his or her power to avoid a loan. However, with difficult times being the order of the day coupled with unforeseen situations it may be that personal loans become the ideal credit option. For instance, after the holiday season, many families are short on cash; and with a new school year around the corner, parents might find themselves overwhelmed by the immediate costs demanded by school-going children. Apart from school fees, stationery and books, new clothing must be acquired for the child who starts school for the first time or for those who step into high school. Small personal loans can give families the bridge they need at times as depicted above. Borrowed amounts with this debt format are normally small and approval relatively seamless. The amount of the monthly repayment is arranged with the lending institution, however, interest is unavoidable. It is highly recommended that one therefore engages with a reputed facilitator to assist in securing the best credit option available. It’s also wise for the borrower to make every effort to not default on repayments and if possible enquire about settling early, if extra funds are available at a later stage. No-one wants to be penalised for late payments, or worse, be blacklisted. Further, individuals or couples with permanent income from employment or established businesses can enjoy the convenience of debit orders, which is normally a standard requirement of lenders. Personal loans can be obtained from your bank, other financial institutions or companies especially established for this purpose. It is paramount to shop around for the best rates and...
by MBC Finance | Articles
What are micro-loans? We all need a little extra cash from time to time, whether it’s for groceries or sudden emergencies like a broken window. The major banks are particularly geared for large scale loans and mainly in the form of secured low-risk loans with significant collateral. This is sadly not an answer to emergencies or short-term situations. Micro finance loans are becoming a more realistic and available option for consumers needing short term, quick cash. Applications can be facilitated easily with very fast and even ‘over the counter’ or same day turnaround time. Furthermore, minimum requirements are less demanding than term loans. In short, they’re a simple, user-friendly solution to a problem that anyone can face at any point in life’s journey. What makes them better than ordinary loans? Micro finance loans are designed to be quick, with short repayment periods and simple, no-collateral agreements. Most banks or large scale lenders require surety, a spotless credit record, and a considerable paperwork before they’ll even consider you for a loan, even if the amount is not substantial. This highlights the significance of micro finance loans. Since these loans are unsecured, as mentioned, this implies you won’t need to put up your house or car to successfully secure the amount. They are based on smaller amounts, so repayments are more affordable. It is also possible that the convenience of more than one repayment option can be presented to the borrower. A poor credit record due to falling behind with a previous account, for instance, will not necessarily prejudice your loan application here, provided reasonable steps have been taken to address...
by MBC Finance | Articles
Do you need a financial boost? Convenient and affordable loans in Durban can provide that welcome financial relief. Daily news bulletins in South Africa have been heralding of late increasingly gloomy economic forecasts locally and across the globe. With the petrol price increasing, food costs rising, retrenchments and job losses, this has become a permanent blotch on the South African economy. Being short on cash and needing that extra liquidity is no longer confined to the post Christmas holiday season, or at the beginning of the year when school and university fees need to be paid. Rising inflation rates and other contributing factors such as unexpected expenses, including medical and hospital bills, can reduce the reach of your Rand at any time. A practical avenue to overcoming personal cash flow shortages can be found in disciplined use of personal loans in Durban from reputed credit providers and facilitators. Gone are the days when finding finance was a long uphill struggle available to a few. Technology and the rise of the internet have played its part and have smoothed the process of applying for a loan. It is not uncommon to find loans available instantly with online loan applications. What if I’m blacklisted? For consumers who have been blacklisted loans may still be accessible. The process of acquiring a loan may have slightly stricter criteria, but it’s not impossible as previously believed. You can play your part, in helping the process along, by being responsible and by providing detailed and accurate information of your financial status when applying. It is also important to take responsibility of your financial circumstances. Credit...
by MBC Finance | Articles
For many families December is a time of joy…and unfortunately a time of worry too! It is a time of joy for a number of reasons, firstly because of the school holidays and secondly because of Christmas and the promise that it holds. Parents may also be on vacation and “holiday time” means fun time – and “fun” costs money. It is a time of worry because of money obligations: how to buy Christmas gifts and how to treat kids over the holiday season? With a fast payday money loan or cash loan option from MBC Finance, these obligations can certainly ease off significantly. We at MBC Finance understand the need for fast cash and we can finance small loans from as little as R500 to as much as R2000; this might be just the kind of money you need to ‘tide’ you over during this festive period. With a new school year around the corner, children might need new clothing as they are still growing and for new sporting codes; there is also the need for certain types of stationary not to mention the ever present school fees. The MBC Finance money loan can give you a welcome start to the expenses that the New Year brings. Apply for the quick money loan in one of two ways: you can phone us or you can complete the application form online and a MBC Finance consultant will call you back. Within 24 hours the money will be in your bank account. Now, what can be easier than that? Just what you need for the additional Christmas expenses! Christmas is...
by MBC Finance | Articles
With the South African Rand reaching an all-time low in 2014, and with money being tight; many people are on survival mode. The majority of the population is living from pay check to pay check, with very little savings towards those unforeseen circumstances like a family member getting sick, emergency car repairs, and other emergencies that may occur. When the unthinkable happens, there is usually very little money to alleviate the situation. Many people are increasingly turning to cash loans as a solution for such problems. Cash loans, as the name suggests, comprise of a cash advance paid into your bank account or given to you as a cash lump-sum. Cash loans are an unsecured debt and each cash loan provider has their own terms, fees and application methods. There are a number of cash loans available ranging from traditional bank loans, quick loans online, fast cash advances and guarantor loans. There are also short term loans available from financial institutions other than banks. Cash loans offer great advantages, especially when you hit a financial hurdle or find yourself facing an emergency. With cash loans, you can borrow the specific amount of money you need with relative ease. Fast cash loans are even faster than most traditional bank loans in that the waiting period for approval is drastically reduced to a few minutes or a few hours at most. You do not need collateral in order to secure a cash loan. For fast cash loans, the application procedure is also straight-forward, eliminating loads of paperwork to be completed. The main disadvantage to consider when contemplating taking out a cash...
