If you’re one of the unlucky many who have bad credit, you may have stumbled upon blacklisted loans while presumably scouring the internet for a quick fix, after being rejected by all of the reputable banks.
You may be contemplating blacklisted loans because you have outstanding rent to pay and stand to be evicted, or you may need money for a medical emergency. Perhaps you’re playing around with the idea of blacklisted loans because you’re in denial over the instability of your lifestyle and just want a new car, despite being on the brink of over-indebtedness.
Whatever your motivation for looking into blacklisted loans, as a person who is over-indebted or getting close to it, you need to be aware that the advantages of debt review will always outweigh those of blacklisted loans.
Consider recent statistics, such as the revealing fact that South Africans were rated as the world’s top borrowers in 2014. Or how about the ugly truth that there are more than 22.5 million blacklisted consumers in our country.
That’s a lot of people taking out loans and a lot of people falling short on their promise to repay money that doesn’t belong to them.
The reality is that it isn’t always the borrowers’ fault. These days, it would be abnormal if opening up a local newspaper or scanning the national online news did not bring up headlines about reckless lending, predatory lenders, unlawful garnishee orders or unscrupulous micro-lenders.
On the other hand, you don’t need to be an economist to know that history often repeats itself. Thus, as a blacklisted consumer, we at NDA strongly advise you to, at the very least, speak to one of our consultants about debt review, before even considering blacklisted loans.
After all, it was a loan that got you blacklisted in the first place, and blacklisted loans won’t get you a clearance certificate or lower debt repayments. These two advantages come exclusively with debt review, along with legal protection against credit providers. Make the right choice, contact NDA now.