What is a blacklisted cell phone contract? For anyone's additional knowledge, a blacklisted cell phone contract is a privilege for any blacklisted individual - persons who have accumulated a lot of debts but were unable to pay it - in order that one can own a cell phone of their choice, but at a certain price to pay. Blacklisted cell phone contract is a kind of loan, but instead of cash, cell phone is owed from the lender or telecommunication companies.
Let's try to compare cell phone contracts from personal loans. Both entities are limited to an agreed payment period wherein the amount must be paid within that timeframe. It is important to note that during that timeframe, the debtor should strictly follow the terms and conditions for such transactions since he has signed to agree with it beforehand. With cell phone contract, inability to follow terms and conditions is punishable in a form of early termination fees (ETFs) wherein you must either pay immediately for the remaining months that you are supposed to pay as an installment or pay amount demanded by the telecommunication company. Delaying payment for dues will also be imposed with additional monthly interest. On the contrary, for personal loan, inability to pay on time is punishable also by additional interest, which makes your debt even larger in sum. Or if a guarantor exists, he is asked to pay for the amount instead since he is responsible for the behaviors of his clients.
If you want instant cash, you'll have difficulty finding for blacklisted personal loans because offers are declining in number, possibly because of debtors that are irresponsible. This is why blacklisted cell phone contracts are getting popular because of the large number of people subscribing from it.
With the advancement in technology, blacklisted cell phone contract can now be easily applied to through online application. Just simply check out a telecommunication company's website so you will be accommodated by their staff. You shall be presented with the application form to be filled-up, and be given a list of some pertinent documents to submit. The documents being asked usually include an identification card, proof of residency (e.g., latest water bill), proof of employment (e.g., latest income statement), and a valid bank account. These documents shall be submitted through fax, if prefers online application.
Blacklisted personal loan application also requires the same procedure - filling-up of application form and submitting of necessary documents. Both deals can be applied through online or walk-in.
For both types of loan application, consumers are given the option for either a short term or a long term contract - depends highly on the foreseen capability by the debtor to pay such financial commitment. With cell phone contracts, there are pre-paid (you purchase a certain amount to be loaded to your number) loading of cell phones or post-paid (you pay the amount consumed by the end of the month) to choose from. Personal loans as well have different timeframes to choose from. The obvious similarity between the two is that both are useful to anybody as long as managed properly. And that, while being engaged to such commitments, consequences like past dues, damage to personal budget caused by compound interest, or litigation due to not paying at all must be avoided at all cost so as to protect one's name and reputation.
Let's try to compare cell phone contracts from personal loans. Both entities are limited to an agreed payment period wherein the amount must be paid within that timeframe. It is important to note that during that timeframe, the debtor should strictly follow the terms and conditions for such transactions since he has signed to agree with it beforehand. With cell phone contract, inability to follow terms and conditions is punishable in a form of early termination fees (ETFs) wherein you must either pay immediately for the remaining months that you are supposed to pay as an installment or pay amount demanded by the telecommunication company. Delaying payment for dues will also be imposed with additional monthly interest. On the contrary, for personal loan, inability to pay on time is punishable also by additional interest, which makes your debt even larger in sum. Or if a guarantor exists, he is asked to pay for the amount instead since he is responsible for the behaviors of his clients.
If you want instant cash, you'll have difficulty finding for blacklisted personal loans because offers are declining in number, possibly because of debtors that are irresponsible. This is why blacklisted cell phone contracts are getting popular because of the large number of people subscribing from it.
With the advancement in technology, blacklisted cell phone contract can now be easily applied to through online application. Just simply check out a telecommunication company's website so you will be accommodated by their staff. You shall be presented with the application form to be filled-up, and be given a list of some pertinent documents to submit. The documents being asked usually include an identification card, proof of residency (e.g., latest water bill), proof of employment (e.g., latest income statement), and a valid bank account. These documents shall be submitted through fax, if prefers online application.
Blacklisted personal loan application also requires the same procedure - filling-up of application form and submitting of necessary documents. Both deals can be applied through online or walk-in.
For both types of loan application, consumers are given the option for either a short term or a long term contract - depends highly on the foreseen capability by the debtor to pay such financial commitment. With cell phone contracts, there are pre-paid (you purchase a certain amount to be loaded to your number) loading of cell phones or post-paid (you pay the amount consumed by the end of the month) to choose from. Personal loans as well have different timeframes to choose from. The obvious similarity between the two is that both are useful to anybody as long as managed properly. And that, while being engaged to such commitments, consequences like past dues, damage to personal budget caused by compound interest, or litigation due to not paying at all must be avoided at all cost so as to protect one's name and reputation.
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