Have you ever heard of blacklisted cell phone contracts? Blacklisted cell phone contract is a form of personal loan wherein a cell phone is purchased instead of money. Since blacklisted individuals are often banned from any lending companies, they tend to have difficulty in having a cell phone of their own. Hence, telecommunication companies have come to a strategy called cell phone contracts to help these people own a cell phone of their own despite their bad credit record.
Now you may ask how cell phone contracts are alike with personal loans. Cell phone contracts have timeframe. And within that period, consumers are bound to follow the conditions attached to the signed contracts. Otherwise, consequences are at stake like early termination fees (ETFs) in which either you are asked to pay the remaining months you are suppose to consume before contract is finished or you pay certain amount prescribed by the cell phone providers. If you are delayed in paying your monthly cell phone dues, this results to penalty in the form of interest. On the other hand, personal loans are binding too between credit companies and the creditors for short period of time. However, if credit is not paid and unpaid months are accumulated, additional interest is imposed or if there is co-maker (someone who agreed to assume the payment in case the original creditor does not pay) included in the contract, co-maker is liable to pay as if he is the real creditor.
These days, because of minimal assurance and greater financial risk on the lender's part, blacklisted personal loans are already declining in availability, which is contrasted by blacklisted cell phone contracts that has lots of supplier and/or lender because of higher demand or greater number of subscription.
Online application for a blacklisted cell phone contract is easily done. You just simply have to log in to the website of your chosen telecommunication company and fill-up the application form presented to you. And as a blacklisted applicant, certain requirements are being asked from you (e.g., identification card, proof of residency, proof of employment, a valid bank account) as a back-up for your application form - all sent through fax machine. And when all these are already complied, all you have to do is to simply wait for the approval or rejection of your application.
Duration of contract is highly flexible for both types. You can choose for a pre-paid or postpaid cell phone, which differs in its load capacity. With pre-paid, you purchase a certain amount and consummation is limited to such amount, although of course you can always prefer to add or purchase another load so you can continuously enjoy the services offered. On the contrary, in postpaid, you pay your amount by the end of the month either in a fixed amount or not. But with personal loans, there is a different timeframe to choose from - it could be monthly, quarterly, or even yearly. Both deals are advantageous to someone who is not endowed with much wealth. You just have to remember that in whatever deals you engage into, it is advisable to be at your best behavior so as to avoid any problems with misconduct.
Personal loan and cell phone contracts can be paid on various duration, which highly depends on the ability of the debtor to pay the amount. Cell phone deals can be pre-paid or postpaid. With pre-paid cell phone, the consumer is going to pay for a load, which his consumption highly depends. But with a postpaid cell phone, the consumer must pay for the consumed load by the end of the month, plus the extra bill if there are any. For personal loans however, payment schedules will vary according to the agreed time - could be monthly, quarterly, among others. For both types of deal, it is most important to pay for dues on time so as to avoid further problems; thus, slowly gaining back one's reputation since consequences - past dues, compound interest, or even litigation - are quite difficult to solve when already engaged into.
Now you may ask how cell phone contracts are alike with personal loans. Cell phone contracts have timeframe. And within that period, consumers are bound to follow the conditions attached to the signed contracts. Otherwise, consequences are at stake like early termination fees (ETFs) in which either you are asked to pay the remaining months you are suppose to consume before contract is finished or you pay certain amount prescribed by the cell phone providers. If you are delayed in paying your monthly cell phone dues, this results to penalty in the form of interest. On the other hand, personal loans are binding too between credit companies and the creditors for short period of time. However, if credit is not paid and unpaid months are accumulated, additional interest is imposed or if there is co-maker (someone who agreed to assume the payment in case the original creditor does not pay) included in the contract, co-maker is liable to pay as if he is the real creditor.
These days, because of minimal assurance and greater financial risk on the lender's part, blacklisted personal loans are already declining in availability, which is contrasted by blacklisted cell phone contracts that has lots of supplier and/or lender because of higher demand or greater number of subscription.
Online application for a blacklisted cell phone contract is easily done. You just simply have to log in to the website of your chosen telecommunication company and fill-up the application form presented to you. And as a blacklisted applicant, certain requirements are being asked from you (e.g., identification card, proof of residency, proof of employment, a valid bank account) as a back-up for your application form - all sent through fax machine. And when all these are already complied, all you have to do is to simply wait for the approval or rejection of your application.
Duration of contract is highly flexible for both types. You can choose for a pre-paid or postpaid cell phone, which differs in its load capacity. With pre-paid, you purchase a certain amount and consummation is limited to such amount, although of course you can always prefer to add or purchase another load so you can continuously enjoy the services offered. On the contrary, in postpaid, you pay your amount by the end of the month either in a fixed amount or not. But with personal loans, there is a different timeframe to choose from - it could be monthly, quarterly, or even yearly. Both deals are advantageous to someone who is not endowed with much wealth. You just have to remember that in whatever deals you engage into, it is advisable to be at your best behavior so as to avoid any problems with misconduct.
Personal loan and cell phone contracts can be paid on various duration, which highly depends on the ability of the debtor to pay the amount. Cell phone deals can be pre-paid or postpaid. With pre-paid cell phone, the consumer is going to pay for a load, which his consumption highly depends. But with a postpaid cell phone, the consumer must pay for the consumed load by the end of the month, plus the extra bill if there are any. For personal loans however, payment schedules will vary according to the agreed time - could be monthly, quarterly, among others. For both types of deal, it is most important to pay for dues on time so as to avoid further problems; thus, slowly gaining back one's reputation since consequences - past dues, compound interest, or even litigation - are quite difficult to solve when already engaged into.
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Want to find out more about Cell Phone Deals, then visit Theuns Koekemoer's site on how to choose the best Cell Phone Contracts for your needs.
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