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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.


However, blacklisted personal loans are rarely offered nowadays because of the little assurance that the money will be paid. But there is no need to be frustrated because there is now another loan for you to have your gadget. This is through blacklisted cell phone contracts.


If you are interested in subscribing for a blacklisted cell phone contract, you can conveniently do it online. Just visit the website of your preferred telecommunication company and you shall be presented with an application form. Fill-up the application form and submit other necessary documents, which include a copy of identification card, proof of residency, proof of employment, and/or an active bank account. It is important to submit such pertinent documents in order for your application to be processed already since these documents will serve as an evaluation tool with regards to your credit standing.
Applying for blacklisted personal loan, the same process will be undergone - application form and submission of requirements, the works! Walk-in applications are also accepted in both entities.


The above procedure for a blacklisted cell phone contract is the same when applying for online blacklisted personal loan. And both are also offered through in-person applications.

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.