Terms and Conditions

The use of Bad Credit Loans is subject to the terms and conditions set out below.

1. Bad Credit Loans is not a Credit Provider, an agent of a Credit Provider or a representative of a Credit Provider.
2. 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.
3. We offer a completely independent Value Added Services
4.Bad Credit Loans is not an agent nor a representative of any service provider, and does not endorse any service or product
5. Our Value Added Services consist of :

Debt Counselling
Debt Counselling offers a remedy to over indebtedness that has the aim at rehabilitation into the credit market.
Debt Review will protect the consumer from losing crucial assets and keep the Credit Providers from taking legal action on accounts that was lawfully included in the debt review.

The consumer will make monthly payments according to the debt re-arrangement until balances have been settled or if the consumer is able to continue with payments at the original contracted rates and instalments.

THIS BENEFIT ALLOWS YOU THE CLIENT A 30% DISCOUNT.

Legal Services
Our service provider offers the following one stop legal services:

  • Formulation of Trusts (family trusts, business trusts, ect)
  • Draft of Wills, ITC Checks
  • Draft and Prepare Various Commercial Contracts
  • Administration of Estates
  • Rescission of Judgments
  • Clearing of ITC / Credit reports and Divorces

THIS BENEFIT ALLOWS YOU THE CLIENT A 30% DISCOUNT.

Short Term Insurance Management

The service provider offers a management service by assisting clients with submission of their insurance claim forms.
For the client there is no fuss, no hassle when it comes to the usual paperwork of a short term insurance claim.
From obtaining quotations of stolen or missing items up to the submission of all documents.
There is no need any longer to take off from work to get these quotations, our service provider will take care of this.
This should enhance the turnaround time of finalising each claim.

Annual Tax Returns (IRP 5)

Our service provider is a registered tax practitioner with SARS (South African Revenue Service).

They offer a professional taxation service to the client at a 30% discount of their normal fee as a value added service to all our clients.

This will save you the client an enormous amount of time and run around.

6. 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.
7. You instruct us to load a debit against your account for the amount of R299,00 (Once Off) and R79,00 monthly using the bank provided in your application form for the Value Added Services we offer
8. We will deduct the fee directly from your bank account at the end of the month in which you made the application for our services, we have a 1 day tracking service
9. The Value Added Services are charged on a monthly basis until you cancel by sending us an email asking to opt out
10. The fee is only refundable if the loan is not granted due to any circumstances within Bad Credit Loans reasonable control.
11. We will deduct the fee directly from your bank account Ltd at the end of the month in which you made the application for our services, we have a 7 day tracking service.
12. 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.
13. You understand the terms and conditions and give permission to debit your bank account.
13.1 In case of cancellation as a result of breach on the part of the applicant/client, the remaining balance shall become immediately due and owing to Bad Credit Loans. In the event Bad Credit Loans should hand the applicant/client over for collection of any amounts owing to Bad Credit Loans , Bad Credit Loans shall impose an administration cost of 25% (Twenty Five Percent) added to the outstanding amount owing by the applicant/client to Bad Credit Loans .All legal fees associated with the collection of monies owing to Bad Credit Loans in terms of these policies, being it for breach or otherwise shall be paid by, or be liable by the applicant/client on an attorney and client scale.
14. 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.

15. In the event a loan is offered to you by credit provider, you are under no obligation to accept same.
16. 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.
17. Please be aware that all lenders may conduct a credit check.
18. We do not receive any commissions from the lenders.
19. 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.
20.Bad Credit Loans does not provide financial advice as you will deal with the financial institutes directly.
21. The applicant agrees that they have fully read and understand the Terms and Conditions of Bad Credit Loans and have voluntarily submitted the application.
22. 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.
23. By accepting our Terms and Conditions you agree to receive marketing communications from Bad Credit Loans.
24. Bad Credit Loans runs independently and disbursement systems are independent.
25. Please note that the loan finding service is free.
26. You agree to us using your name, number and email address for marketing.
27. You understand that cancellations are to be done via email , we will not accept verbal cancellation Your Value Added Services package runs month to month until cancelled , you can cancel at any point via email.

Debit order: means a standard debit order or an early debit order (the choice of which will be at our election) whereby we instruct your bank to deduct an amount directly from your bank account and registration fee as well as the monthly fee of R79 for the value added service package. This deduction will be done by SureTransact and will show on your bank statement as “to pay that amount over to us. You agree to pay an once off amount of R299 via debit order for the SureTransact”. The monthly charge will remain until you cancel it by sending us an e-mail.

In the event of your debit order being returned unpaid we have a 7 day tracking service with SureTransact. We reserve the right to submit for payment the following month if your debit order is unsuccessful for whatever reason.

The once off amount of R299 will be deducted regardless of the outcome of your loan application.
You agree that your on line application may be submitted to various lenders in order to source a loan for you.

Acceptance of the terms and conditions on this site will form a binding contract between you and Bad Credit Loans.

You agree to receive marketing communications from Debt Consolidation Loans by accepting your terms and conditions.

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