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Can I Get A Loan While Under Debt Review?


Is it possible to get a loan while under debt review?

The short answer is no… if you are one of the many people who are currently under debt review (Debt Counselling) it is highly unlikely that you will be able to apply for credit from any of the mainstream banks or lending institutions as it is against the law.

“It is against the law to be granted a loan while under debt review”

Once your debt review has been registered by the court you are not (from a legal point of view) allowed to apply for additional credit whilst under review. Credit providers will also not be granting a loan to someone who is under debt review as this would be against the law and can be viewed as reckless lending.

“The best option would be to avoid committing to extra debt and making your financial situation even worse.”

loan shark

However, if you are under debt review and want to apply for a loan/credit; you would have to cancel your review process before applying for additional credit. Or go the more popular option (but we do not advise) is to approach a non-mainstream credit provider.

If you do decide to apply for a loan from a lender who is not a traditional credit provider, financial institution or mainstream bank, be sure to check that they are registered with the National Credit Regulator (NCR) which will give you some protection and peace of mind.drowning in debt

Make sure you do not commit yourself to any unrealistic repayment terms or high rate of interest when signing for a loan.

Remember that loan sharks are not your only option and that there are reputable loan lenders out there who will assist you. 

While it is possible to obtain a loan while under debt review, it would be advised to examine the conditions of the loan carefully. Take special note of the interest rate being charged before signing and committing to a loan not being granted by a traditional lender or bank as it could place you in a far worse financial situation.


It is against the law to be granted a loan while under debt review, therefore deceitful lenders who are willing to grant such a loan, will want a significant cost in terms of interest and stringent repayment conditions.

“Note: Withdrawing from the debt review process will show negatively for you and will show creditors that you are not committed to becoming debt free, which will likely lead to credit providers rejecting your credit applications going forward.”


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