Do a blacklist check to know your credit rating before applying for any finance with a credit provider. Many blacklisted people feel embarrassed and ashamed when they apply for a loan with a lender only to find out they have a judgement against their name due to previously un-paid debts. No matter who you go to when you need to borrow money from a financial institute they will always run a credit check on your history to see if you are a high risk to lend money to.
The best thing to do is to run a blacklist check on your name to know your credit score and rating before you approach a lender so that you are not presented with any nasty surprises. With the new laws introduced by the National Credit Act it is virtually impossible to get finance from a major bank within South Africa but there are companies that will be willing to lend money to people that are blacklisted and where their situation has changed since they were struggling and they may now be in a steady job earning a decent income again.
Also, your score may determine the amount of cash a lender is willing to lend to you and almost certainly will affect the interest rate you will qualify for when it comes to the monthly payment terms of a loan. If you have defaulted on previous credit card payments or have had debt written off by the bank or any other financial institute then the chances are good that the results of your score will mean that you do not qualify for a large amount of cash and will have to pay it back at rather a high interest rate. On the other hand if you have been blacklisted just because of missing one or two payments in the past and it is nothing serious then a credit provider may not even regard you as a high risk at all. You can apply for a loan without knowing your score but it is always best to be prepared and to do a blacklist check to know your credit rating before you fill out any applications to get finance.