The use of Bad Credit Loans is subject to the terms and conditions set out below.
- Bad Credit Loans is not a Credit Provider, an agent of a Credit Provider or a representative of a Credit Provider.
- You give us permission to submit your details as per the online application form to various Credit Providers in order to find you a loan.
- We offer a completely independent Member Benefits package
- Bad Credit Loans is not an agent nor a representative of any service provider, and does not endorse any service or product, please refer to Member Benefits page for more benefits.
- The cost for the Member benefits package is R350,00 (Once Off) and R99,00 (Per Month). The loan-finding service is offered to you upfront as there are no costs involved. The Member Benefits becomes active once the fee has been paid.
- In the event of cancellation before contacting a financial institution to apply for the requested finance, we may impose a cancellation fee for the cancellation. The fee will depend on the nature of the reservation, the length of notice of cancellation before the financial institution is contacted, the reasonable potential to find alternative clients for the reservation and the reason for cancellation. No cancellation will be accepted if the appropriate financial institutions were already contacted by our offices with regard to your credit application.
- You instruct us to load a debit against your account for the amount depicted by the package you have chosen, see point 6, using the bank provided in your application form for the Members Benefits we offer
- We will deduct the fee directly from your bank account using NAEDO My Gate Communications (Pty) Ltd at the end of the month in which you made the application for our services, we have a 1 day tracking service with MyGate Communications (Pty)Ltd
- The members benefits is charged on a monthly basis until you cancel by sending us an email asking to opt out
- The fee is only refundable if the loan is not granted due to any circumstances within Bad Credit Loans reasonable control.
- We will deduct the fee directly from your bank account using NAEDO My Gate Communications (Pty) Ltd at the end of the month in which you made the application for our services, we have a 7 day tracking service with MyGate Communications (Pty) Ltd .
- We do, however, reserve the right to deduct the fee in the month following the month in which you made the application, if for whatever reason the debits were delayed or if the debits were unsuccessful.
- You understand the terms and conditions of NAEDO My Gate Communications (Pty) Ltd. and give My Gate Communications (Pty) Ltd. permission to debit your bank account on our behalf.
- Regarding late payments of loan repayment:
What if I am late with a payment?
A: Because we do not provide the loans directly, please review the information with your lender before signing.What happens if I can’t pay?
B: Because we do not provide the loans directly, please review the information with your lender before signing.In most cases this may end up in you the client being liable for a fee, this fee is decided by the lender, you will need to discuss this with your lender.
- In the event a loan is offered to you by credit provider, you are under no obligation to accept same.
- You understand that paying the fee will ensure that we will do everything reasonable within our power to secure a loan for yourself, but doesn’t provide a guarantee that a loan will be granted in your favour.
- Please be aware that all lenders may conduct a credit check.
- We do not receive any commissions from the lenders.
- You ,acknowledge the risk involved in borrowing money from the chosen credit provider and hereby indemnify us against losses you might sustain with regards to the granting of the loan or the loan not being granted by the relevant Credit Provider, due to reasons beyond our reasonable control. This will include any economical lost pertaining to the harm/losses caused.
- Bad Credit Loans does not provide financial advice as you will deal with the financial institutes directly.
- The applicant agrees that they have fully read and understand the Terms and Conditions of Bad Credit Loans and have voluntarily submitted the application.
- We reserve the right to enforce our strict cancellation process. NO refunds will considered if any applicant cancels outside the 7 day cooling off period.
- By accepting our Terms and Conditions you agree to receive marketing communications from HDL Trading (Pty) LTD 2013/116784/07.
- Bad Credit Loans and Blacklisted Loans run independently and disbursement systems are independent.
- Please note that the loan finding service is free.
- You agree to us using your name, number and email address for marketing.
- You understand that cancellations are to be done via email , we will not accept verbal cancellation Your Member Benefits package runs month to month until cancelled , you can cancel at any point via email.