Loans for Blacklisted People

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Loans for Blacklisted People: Typically, blacklisted people are shunned from receiving loans and financing because their finances are in trouble. This reason which prohibits them from obtaining financial aid is the exact reason why it should be more available to them. However, the ground realities are far from ideal and they usually receive loans at increasingly high rates of interest, also known as sub-prime. This throws them into a nasty cycle of debt and poverty which in turn damages their credit scores further.

In order to encourage these people on the road to contribute positively to the economy, it is highly essential to provide mechanisms through which debtors can pay off their existing loans and become productive members of the society. In South Africa, many organizations are working towards the betterment of such individuals, from helping them to obtaining loans on soft terms to providing living facilities, since many landlords are wary of renting their space to blacklisted people.

The typical conditions for granting loans to such people cover the basics, such as the individual should be of legal working age i.e. between 18 and 65 years. Similarly, he should be employed with a fixed stream of income as opposed to self employment where profits may vary month upon month. It is also undesirable that the individual may have filed for bankruptcy in a court of law. However, these conditions are far from hard and fast; rather provide a general guideline. Special cases are always considered and given the benefit of the doubt.
Loans for Blacklisted People

Get a loan or apply for car finance

11 Comments on "Loans for Blacklisted People"

  1. I would like to apply for a 50000 loan but my credit score is low.

  2. I have a judgement and i am desperately looking for a loan is there a way i can get help?

  3. i need urgent short term loan can you kinly assist me

  4. Clodia Francis Swanepoel | August 5, 2013 at 12:17 pm | Reply

    Gday I just want too find out as im under Administration will u be able to help me with a loan

  5. Clodia Francis Swanepoel | August 5, 2013 at 12:28 pm | Reply

    Gday as Im under Admin wil u be able to help me with a loan do have a letter from admin

  6. choshane john mampa | August 20, 2013 at 10:50 am | Reply

    i have a bad credit record and i need to pay off my ex-wife her share of the profit on the house we owened together.

  7. martin schoeman | November 11, 2013 at 10:53 am | Reply

    i urgently need a home loan. the owner want 250 000 and its a plot. i dont want to to sell my sheep and livestock and i couldnt get a loan from the banks, is there any way you can help. thanks martin

  8. I need a loan of R10000 payable in less than 3months

  9. Need a loan urgently

  10. I want to apply for a loan please.

  11. I need a little loan of 1500 ill pay it all by the monthend.

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