Specialized credit

Drifter

Drifter

Honorary Master
Joined
Dec 19, 2012
Messages
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Location
Vereeniging
I applied for a personal loan, and got told all is approved. There is a hold up on the disbursement because my application is sitting with "Specalized credit dept".

They say they are looking at my application "in depth".

What does this mean?
 
You were pre approved, now they are finalising it by going over the finer details.You not blacklisted or anything?
 
Nope,but our head office is closed, so they wont be able to to proof of employment other than my pay slip and salary deposits into my bank account.

I already signed the contract,debit order instruction, credit life cover, did FICA, the works.
 
I can point you towards a loan shark. Only 2000% interest p.a.
 
Gerhardva said:
Nope,but our head office is closed, so they wont be able to to proof of employment other than my pay slip and salary deposits into my bank account.

I already signed the contract,debit order instruction, credit life cover, did FICA, the works.
Click to expand...

You'll probably notice that your signed forms are all pre agreements, and/or the fine print will stipulate the loan is subject to some checks.

These checks range from employment confirmation to fraud assessments. The good news is most lenders have workaround solutions for closed employers, so you should be fine


Edit: with respect to your OP, the Specialised credit department is likely checking out an anomaly on your payslip, bank statements or bureau profile
 
Last edited:
eehellfire said:
You'll probably notice that your signed forms are all pre agreements, and/or the fine print will stipulate the loan is subject to some checks.

These checks range from employment confirmation to fraud assessments. The good news is most lenders have workaround solutions for closed employers, so you should be fine


Edit: with respect to your OP, the Specialised credit department is likely checking out an anomaly on your payslip, bank statements or bureau profile
Click to expand...

Thanks, so does that mean that they can still reject the application, or is it just a formality? I am not aware of any anomallies. The person I dealt with is of the opinion it would have been rejected already before it even reached this stage if there was a serious issue. It is with one of the major banks.
 
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