Bad credit debt consolidation loans for people who are struggling to get money from the banks or are blacklisted can be obtained in the form of secured loans. What this essentially means is that if you own a property or house, car that is paid for or some other item of value then the chances are good that you can still get approved for finance by signing over that item as security against the borrowed money. This type of solution has to be taken with caution though as if you cannot afford to pay back the borrowed money then you run the risk of losing your home or property, or whatever you used as surety.
Applications for the bad credit debt consolidation loans are in the form of a simple online application which then gets sent to various registered South African credit providers. Out of those credit providers there is usually one or two that are willing to approve finance to people who are blacklisted or think they may be on some sort of blacklist. The amount of money a lender will be willing to lend an individual will largely depend on exactly how bad their credit rating is and how much money they are currently earning, how long they have been employed by their current employer etc.
South Africa is home to millions of people in debt and these days it is not something to be ashamed of or to try and hide from people. If you need help then you must speak up and tell someone and try all necessary options available both online and offline to get out of your current financial problems. There are many debt counselors available that can assess a persons specific individual financial problems and needs to work out a get out of debt program to suit each person separately. If you think you know what you need to help you get out of trouble and are just looking to apply for finance online then a bad credit debt consolidation loan maybe your solution.