Late loan payments – now what?
Late loan payments can have a detrimental effect on loan applications and getting approved loans. When late loan payments occur it is added to your credit record which will adversely affect your credit score. Approved loans can therefore be denied because a consumer is viewed as someone who does not pay their creditors consistently.
However we understand that late loan payments are human and that consumers are not always in control of their salary payments or bank errors – we will still issue approved loans despite this. Do not despair if you have made late loan payments in the past, our approved loans service looks past that and assesses you as an individual, not as a statistic.
Contact us and talk about approved loans with a consultant.
Article written by: Andrea van Tonder 03-2014