There are cash loans for people under debt review available in South Africa. Nothing is a guarantee but this kind of finance is able to help you if you are desperate to borrow money. And if you have been trying all other borrowing options. However loans for debt review clients are not on offer by banks like Absa, Standard Bank, Capitec, African Bank, FNB or Nedbank.
If you are in the process of debt review or are thinking about getting help from the services of a financial counselor. Then honestly the last thing you should be considering is borrowing more cash!
It would be irresponsible of us as the owners of this public domain to offer information on where in South Africa you can get cash loans for people under debt review. The fact is you are already struggling with your finances. So making more debt is just plain stupid.
Ok. So we got that off our chests!
Having said that there are ways you can get your hands on some extra cash. Or earn an income on the side to help you with your debt even if you are under review.
Our first suggestion, perhaps not the best, is to reach out to close friends and family. You may have someone close who could be willing to offer you some money as a gift.
Or perhaps, dare we say it, borrowing a temporary loan with very low or no interest. And hopefully no exact time frame or terms on the repayment of that loan.
This may also interest you: Loan Needed but you are Blacklisted? Your Options
Pawn Shop Loans
Pawn shop loans are available for people under debt review in South Africa.
However in this case you will need personal items you can pawn against your borrowing.
South Africa stores such as Cash Crusaders offer pawn shop loans without you having to provide a payslip. Although you will need personal identification as well as proof the items you intend to pawn are yours.
Keep in mind that you must make sure you pay back the money you borrow from a pawn shop. Because if you fail to meet your repayments they will sell your personal items to cover the cost of the loan.
So even if you are under debt review you can head over to the website and have a look at the loan solution they offer.
For more information on these types of loans head on over to the Cash Crusaders website here: https://www.cashcrusaders.co.za/
Alternatives to Cash Loans for People Under Debt Review
There are alternatives to applying for cash loans for people under debt review. If you have nobody close to you that can lend you money then there are still a few options.
1. Part time work.
There is no shame in running a temporary job after hours in situations where you need extra money. Many people both young and old accept casual employment such as waitering or pizza deliveries to help out with finances. Perhaps while they are waiting for a counselor to review their debt situation.
There are even home business opportunities on the Internet these days that can help you supplement your usual income but be careful with this.
And know that some of these so called opportunities can take a lot of time for very little income in return.
2. Rent something out.
If you live in a house it maybe possible for you to rent out a spare room for a while if you have one. This can help bring in extra income temporarily. Maybe you have a car or even a motorcycle you could let people make use of in exchange for cash.
Bonus tip. Don’t waste time going to banks like Capitec, African Bank, Nedbank, Absa or FNB to get loans for people under debt review. These banks have strict lending rules when it comes to borrowing money in South Africa.
Instead of Borrowing Money Sell Unwanted Goods
Another thing you could do when you are looking for a little bit of extra money is sort out all the “junk” you have in your home.
This means that the extra kettle and toaster that have been in the cupboard for years. The spare exercise bike and other equipment that hasn’t been used in months can be sold online, preferably on Gumtree South Africa.
To sell old items is always a good idea as you get money for things you no longer need. If you are looking for an ongoing idea where you could regularly get money, you should rather think about applying for a part time job.
Saving Cash in Future
4. Change where you shop.
You may be surprised to find out exactly how much money you can save just by changing certain shopping habits. If you regularly buy certain products at Checker’s for example. Compare the prices of the same or similar products at Pick ‘n’ Pay or Spar.
After comparing the prices of the groceries you usually buy you can then choose to buy the cheapest products at the various shops. Which can save you a lot of money on weekly groceries.
To Summarize Cash Loans for People Under Debt Review
In summary the point to the information above is to start thinking a bit more outside the box when it comes to getting yourself out of financial trouble.
Only you are responsible for taking action over your finances. And instead of looking for loan sharks in SA or other desperate borrowing options discover new ways of getting the cash you need.
It’s not much use getting yourself deeper in trouble with more loans if you are under debt review in South Africa. This may not be the advice you were hoping to hear. But finances are important and knowing how to be responsible with money is vital.