Wellness Consolidation Loans
Criteria
- 1 – 60 months
- Maximum Loan – R120 000
- Minimum salary – Affordability
- Maximum salary – Affordability
- Maximum % of Total Nett income – Installment must not exceed 30% of the available spend
- Proof of identity – ID or Passport
- Citizenship – South – African
- Foreigners (Valid passport and work permit)
- Min age – 18
- Max age – 65
- Min employment period – 3 months
Loans to be consolidated
- Hand-over Accounts to External Debt Collectors and Judgments can be included
- Adverse Accounts on Bureau can be included
- Settlement letters required
- Settlement expiry date needs to be in time frame when loan is granted
- Loans to be settled should reflect on the credit bureau
Exclusions
- Revolving credit ( Credit Facility)
- Non-financial institution accounts (E.g. Dstv, School fees etc.)
- One-month loans
- Loans active for less than three months
- Customers with recent debt consolidations – Treated case by case
- Administration and Sequestration orders