There is no PEP loan designed for blacklisted people. Loans applied for at PEP are Capfin personal loans, and Capfin does not publish a product for applicants with a bad credit record or any promise to approve them. What it does publish is that every application goes through a credit check and an affordability assessment, and that the amount offered depends on your income and expenses, your credit profile and your payment behaviour.
So if you are looking for PEP loans for blacklisted borrowers, the real questions are what your specific listings are, whether the law allows you to take new credit at all, and whether a new instalment would fit your budget. The standard Capfin criteria are set out in our guide to PEP loans requirements. This page deals with applying when your credit record is adverse.
Eligibility Requirements at a Glance
“Blacklisted” is not a legal status. The National Credit Regulator describes it as a term the public uses for an adverse listing, a judgment listing or an administration order listing on your credit report at a credit bureau. There is no single list, and the bureau does not approve or decline anyone: Capfin makes the decision using the bureau’s information. How you stand depends on which kind of listing you have:
- Adverse listing (for example “slow paying” or “default”): you may still apply. Capfin weighs it in its credit check, and approval is not guaranteed.
- Civil judgment or administration order: you may still apply, but Capfin publishes no rule on how it treats these listings, so expect them to count heavily against you.
- Under debt review: a Capfin loan is not an option. The National Credit Act bars new credit agreements, other than a consolidation agreement, while debt review is running.
- No permanent job or monthly salary: you do not meet Capfin’s published criteria, whatever your credit record shows.
Capfin’s own first-time application guide lists a good credit history among the basic requirements to check before you apply. Treat an adverse record as a real obstacle, not a formality that the store can work around.
Income and Affordability Requirements
With a poor record, affordability is usually where an application fails. Accounts in arrears, handed-over debts and judgment instalments still count as monthly obligations, and they reduce what is left of your salary for a new loan.
Capfin cannot lend around this. Under section 80 of the National Credit Act, a credit agreement is reckless if the lender skipped the affordability assessment, or went ahead when the information showed the loan would make you over-indebted. A loan that fails that test is not one Capfin may lawfully grant.
Before you apply, list your net monthly salary against every current instalment, arrangement and essential living cost. If the balance is already negative, or you are borrowing to cover arrears on other debt, a new loan is likely to be declined, and if granted it would deepen the problem. Capfin may also offer less than you asked for, so work out whether a smaller amount would still solve anything.
Credit and Financial Requirements
Negative information does not stay on your record forever. The NCR’s credit bureau brochure sets out how long bureaus may keep each type of information:
- Adverse classifications such as “delinquent”, “default”, “slow paying”, “absconded” or “not contactable”: one year
- Civil court judgments: five years, or until the court rescinds the judgment or the credit provider abandons it
- Debt restructuring (debt review): until a clearance certificate is issued
- Your payment profile: five years
- Credit enquiries: two years
You are entitled to a free copy of your credit record once a year from a credit bureau, and you have the right to challenge information you believe is wrong. Capfin’s terms and conditions repeat these rights, including the right to correct inaccurate information at a bureau.
Debt review is the one situation that rules you out completely. Section 88 of the National Credit Act says that once you have applied for debt review, you may not enter into any further credit agreement, other than a consolidation agreement, until the debt counsellor rejects your application, a court finds you are not over-indebted, or you have paid all the debts that were restructured. Wait for your clearance certificate before applying to Capfin or any other lender.
Documents and Verification Required
Capfin asks every applicant for the same documents, whatever their credit record: a valid South African ID and either your 3 latest payslips or your 3 latest bank statements. It checks your credit record itself, so you do not submit a credit report.
With an adverse record, keep these papers ready for your own checks and any dispute. Capfin does not list them as requirements:
- Your latest credit report, so you know what Capfin will see
- Paid-up letters or settlement confirmations for accounts you have cleared
- A court rescission order, if a judgment against you has been rescinded
- Your debt review clearance certificate, if you have completed debt review
How to Apply and Improve Approval Readiness
- Get your free annual credit report from a registered credit bureau and identify each negative listing and its type.
- Dispute anything that is wrong directly with the bureau. If it refuses to correct the information, you can complain to the NCR or the Credit Information Ombud.
- Bring arrears up to date, or agree payment arrangements with the creditors, so that your record and your budget both improve.
- If you are under debt review, stop here until you have a clearance certificate.
- Apply once, through one channel: online at capfin.co.za, by SMS to 33005, or at a PEP or Ackermans store. Each application involves a credit enquiry, and enquiries stay on your record for two years.
- If you are declined, ask Capfin in writing for the reason. Section 62 of the National Credit Act requires it to give you the dominant reason and, if it relied on an adverse credit report, the name and contact details of that bureau. Capfin’s FAQ says you can reapply after 30 calendar days.
People with bad credit are the main target of loan scams. The NCR warns that fake lenders prey on blacklisted consumers, that it is unlawful for credit providers to charge upfront fees, and that anyone who has paid one to a fake lender should open a case with the SAPS. Capfin’s registration number is NCRCP13053. Check any other lender on the NCR register before sharing your ID or bank details.
If you cannot keep up with what you already owe, a loan is the wrong tool. Debt counselling through an NCR-registered debt counsellor restructures your repayments so you can pay all creditors from your current income while covering living expenses. The NCR stresses that it is a debt relief measure, not a savings scheme, and that you cannot be placed under debt counselling without your consent.
Frequently Asked Questions
Does PEP give loans to blacklisted people?
PEP does not lend at all; Capfin does, and it does not advertise loans for blacklisted applicants. You can still apply, but the outcome depends on Capfin’s credit check and affordability assessment, and a negative record makes a decline or smaller offer more likely.
What does “blacklisted” actually mean?
According to the NCR, it is an everyday term for an adverse listing, a judgment listing or an administration order listing on your credit report. There is no official blacklist, and each lender decides for itself.
Can I get a PEP loan while I am under debt review?
No. Section 88 of the National Credit Act prohibits new credit agreements, other than a consolidation agreement, until your debt review ends in one of the ways the Act sets out, usually when you have paid the restructured debts and received a clearance certificate.
How long does a bad listing stay on my credit record?
It depends on the type. The NCR lists one year for adverse classifications such as “default”, five years for civil judgments unless rescinded or abandoned earlier, and until a clearance certificate is issued for debt restructuring.
Can someone clear my name so that Capfin approves me?
Be wary of anyone selling this. You can challenge incorrect information with the credit bureau yourself, and correct negative information expires after the periods set by regulation. Nobody can guarantee a Capfin approval.
Capfin declined me. How do I find out why?
Ask Capfin in writing. Under section 62 of the National Credit Act it must tell you the dominant reason and, where an adverse credit report was the basis, which bureau supplied it. You can reapply after 30 calendar days.
Capfin sets its own credit criteria and can change them at any time. Confirm the current position with Capfin on 087 354 0000 or at capfin.co.za, and check any lender or debt counsellor on the NCR register. This page is general information, not financial advice. See loan requirements and browse all finance and funding requirements.