How to FIX bad credit in South Africa
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- čas přidán 8. 06. 2024
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How to FIX bad credit in south Africa
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What do you think about these tips ?
Just remember, take ACTION !
If i have a car loan of 72 months and I decide to pay a certain amount to reduce the total months of payment, will I also save money on interest. Let us say I pay it off in 60 months instead of 72.
Absolutely, it will reduce your capital owed, reducing your interest. This is a great way to save money. Go on google an search for " extra car payment calculator " and see what huge difference it makes. Hope it helps 🙏🏻
A video i really needed, dankie bro
Pleasure brother, thanks for watching 👊🏻
Lekker Louis, jy is all out ‘n baller. Jy dra Maxed van Mr. Price maar sit met miljoene se eiendomme😂 tipies skat ryk persoon. Love dit my vriend! Dis hoe ons rol!
Dankie brother 💪🏻💪🏻💪🏻🤣🤣
Thanks so much Louis for all your help
My pleasure Andrew 💪🏻💪🏻
❤you always come through!
Thank you for the continuous support 🙏🏻🙏🏻
Agree with this 100 per cent.
Simple amd easy explanation 👌
Thanks my friend appreciate the positive feedback 🙏🏻 🙌🏻
Thank you for this video. I have looked for information like this for a while.
I have one question, what is better. Transfer your full credit amount available into another account for a few days and then transfer it back again. "Using" credit, and paying it back.
Or use your credit card for normal payments and then pay it back at the end of the week?
Hi Thinus,
Thanks for watching. I would say to just use the limit on your credit card. Lets say you have a R10000 limit. Use R1500 to fill your car with fuel and the very next day you settle the R1500 with money in your cheque account that you would've used in the first place. The trick is to never spend money unless you have it available in your cheque account.
@@louisreynhardt
Thank you for your reply, Louis!
Great idea, will try this.
Thank you for your content!
Unrelated question. Whats the difference between the valuation of a oroperty on the eservices side and the registration value?
Great question though. In my opinion, the municipal valuations might be a bit outdated and less acurate. Paid services will be your best bet, like tpn or lightsone. What I like to do is to use all the tools available and use an average to minimize my chances of being completely wrong
Can you use the snowball method or any other for car finance aswell?
Absolutely, you can apply it to any debt. 💪🏻💪🏻
how do i improve my credit score after debt consolidation?
You can follow all these steps in this video.
Discipline will be vital. Also make sure once your done with debt counseling your name is clear and there are no other claims against your name. From there you will effectively start from scratch. But the same tips applu.
Hi Louis, thank you so much for your video. Could you please clarify, numerically, what credit score is needed (if not the highest) to get approved for a mortgage loan when applying for a property mortgage? Thanks again.
Thanks for watching, i would aim for a good to excellent score. This is around 670-850 using the FiCO system .
Your credit score combined with your affordability ( income ) will ultimately affect whether you will be granted a loan or not
@@louisreynhardt thank you
Is it a good thing to quickly pay a home loan faster than to honor the contract you signed?? Let’s say I signed repayment of 30 years & it happens tht I pay it off in 10 years, doesn’t that affect my credit score??
Paying it off earlier should positively affect your credit score . Reducing your overall debt combined with all the other tips will ultimately result in the best credit score. 💪🏻💪🏻