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Loan Process FAQs

  • Will I be able to get or qualify for a Debt Consolidation Loan if I have a bad credit history and
    do not own property?

  • No matter what your monetary or financial situation are, we will still be able to get you a Debt Consolidation Loan. We specialise in helping those with a poor payment and credit history get accepted for a consolidation loan. Property is NOT needed in order to secure the consolidation loan.

  • What types of debt can I use my Debt Consolidation loan for?
  • You can use your debt consolidation loan for any unsecured debt, such as personal loans, credit cards, and store cards (Edgars, Woolworths etc). If you have debt that you want to consolidate
    but you are unsure if you can do so, please speak to one of our friendly advisors on 087 807 8566.
    We will advise you of what we will be able to do for you when we assess you current financial situation and advise what the best possible route to take is.

  • How long will the repayment be and what instalment can I expect to pay on the consolidation
  • We have an excellent panel of registered NCR lenders which means that that we should be
    able to offer you a consolidation loan that will suit your circumstances.

  • What is the maximum amount of money I can borrow for the consolidation?
  • There are a variety of factors that will determine the amount you will qualify for depending on
    your circumstances, such as your income and affordability. You need to speak to one of our
    friendly and understanding advisors who will go through your profile confidentially. They will do
    their best to offer you an affordable loan that will improve your disposable income and put
    you in better financial position.

  • When I accept the consolidation loan will it impact negatively on my credit rating?
  • No, not at all, applying for a debt consolidation loan will not damage your credit rating in any
    way. As you will be paying off your unsecured debt it will have no negative impact. However if
    you have missed payments, have defaults or court judgments your credit rating will already
    be low.

  • Do you only do debt consolidation or can I use the loan for any other use?
  • We will not restrict you what you can use your loan for. You might only want that extra money for home improvements, school fees, or holiday!

  • Do I need to destroy my credit cards and store cards after the consolidation has been
  • NO, you can still keep your credit cards and store cards. However, if you are looking at a loan to consolidate your debts to make your monthly payments easier, we would strongly advise that you DON'T use your credit cards and end up in even more debt.

  • Who can help me consolidate my debt or just get a normal loan?
  • If you are looking for debt consolidation services, it is vital that you speak to experts in their field. Here at Credit Salvage Corporation SA (Pty) LTD we pride ourselves in having great relationships with our current NCR registered lenders so we can find that loan that is right for you, no matter
    what your circumstances.

  • Am I guaranteed to get accepted for a Debt Consolidation Loan?
  • Getting a debt consolidation loan is subject to your credit history and a number of other factors
    set out by the new credit Act (regulated by the NCR) which means that not everyone can qualify. Our friendly loan advisors will do their best to find a Debt Consolidation Loan to suit your circumstances, but if that is not possible we can advise you on other debt solutions.
    Call us now on 0878078566.
  • I have been blacklisted by my creditors
  • Being blacklisted means that you are seen as a risk to lenders, and they are often not willing to
    lend you any more money. You could be classed as black listed if you have missed multiple payments, defaulted on your agreement or have judgements. If you have been turned down for that reason then our Debt Consolidation process can help, we can help you find the right loan for your circumstances.
  • What is the difference between administration and Debt Consolidation?
  • Debt Consolidation means that you will get a normal loan facility which will consolidate your existing unsecured debts into a manageable monthly instalment. Whereas Administration is a
    debt repayment plan which does not involve any further borrowing. Instead you make one lower repayment which will be distributed between all your creditors. It is important that you get expert advice before making your decision, as what is right for someone else may not be right for you.