Loans are available for people who are blacklisted or for a person who has ended up with a bad credit record due to difficult financial circumstances in the past. Many people feel that once they have accumulated debt and are now blacklisted that all hope is lost for getting a loan to help them get back on their feet but this is not true, there are finance options available.
The types of loans available to people who have ended up with a poor credit history come in the form of unsecured loans and micro loans. These are the types of loans that normally do not need you to give any kind of security that permits a lender to get their hands on should you default on one or two of your monthly repayments. Micro loans need to be applied for at a micro lender agency which is basically just an office from where you can apply for a loan to suit your financial needs. Micro lenders are situated in most towns and cities, usually located somewhere within the main shopping areas or malls. Documents you are likely to have to produce to apply for a micro loan include some form of identification, proof of residence and some kind of income proof, maybe a couple of your latest salary slips.
Unsecured loans can be applied for from most financial lenders although it is not recommended that you approach the bank for this type of finance if you have a bad credit history as they are very strict on who they lend money to and are unlikely to be helpful. There will be other lending companies located in your area so it may be a good idea to have a look in your local yellow pages or phone books for places where you may be able to apply for an unsecured loan to help you out of your financial trouble.
Just be warned that the types of loans offered to people who are blacklisted will have to be paid back at a higher interest rate than normal finance as the lender views the borrower with a less than great credit rating as a higher risk to lend money to. Also, be careful. Do not trust financial institutes that are literally prepared to throw money at you regardless of your financial history, there are many loan sharks lurking about the murky depths of society ready to con any person into signing a document that gives them right to take almost everything a person owns should they default on payment. Use your common sense.
Most of all do not be ashamed. In todays world there are millions of people with financial problems and at least you are looking for ways to help get you out of your debt. Speak to a lender with boldness explaining your situation and your needs confidently and you should soon be applying for loans regardless of how bad your credit record is or what kind of blacklist you maybe on.
Justin Sawyer is an article writer offering advice and tips on finances which help thousands of people each year on matters such as getting out of debt and debt consolidation loans . Lots of this information can be found on the Loan Solutions website at: http://www.loansolutions.co.za