Frequently Asked Questions
Here are some of the frequently asked questions and the responses to them. If by an chance you have a question not covered on this page then you can contact us on the contact details displayed on the Contact Us page.
Q. How long does it take for me to know the outcome on my application?
A. It takes up to an hour to get a quote and 24 – 48 hours to get approved.
Q. Can I still apply if I am under debt review/administration?
A. No, you cannot apply if you are under debt review or administration.
Q. Can I still apply if I have garnishee orders?
A. If your garnishee orders exceed two on your payslip then you cannot apply for a loan successfully.
Q.Can I still apply if I have debit order disputes on my bank statement?
A. If your disputes exceed R500 then you cannot apply for a loan successfully.
Q.Do you do credit checks?
A. Yes we do credit checks.
Q. What if I am blacklisted?
A. Everyone’s case is unique, it all depends on the type of account you were blacklisted for defaulting payments on.
Q. Are my documents safe with Phoka Financial Services?
A. All client’s information is treated with very high confidentiality and is never exposed to a party that might compromise on the client’s safety.
Q. How long will it take for me to receive the funds if approved?
A. If approved it takes up to 24 hours to receive the funds in your bank account.
Q. Can I settle my account sooner than prescribed?
A. Yes you can contact your lender directly and request a settlement letter they will have it sent to you within 24 hours.