There are loans for people with bad credit. In South Africa, a bad credit record doesn't need to stop you, you can get a loan with the help of Fincheck.

I have a Bad Credit Record! Where can I get a Loan in South Africa?

Mar 07, 2016

Bad credit is nobody’s friend.

Credit providers tend to shy away from a loan application with a bad credit score. There is hope though. Personal loans for bad credit records do exist. Let Fincheck direct you to a few.

Please note that your situation is unique. Institutions will have to spend time with you to quantify your situation. Only with the necessary assessment will it be able to determine your eligibility for a loan.

It should also be said that a poor credit record will have limited offers for bad credit loans.

Debt Busters

DebtBusters believes in giving South African consumers a second chance to build a brighter financial future. The stories we hear from our clients, about how they have been able to transform their lives through debt counselling, is at the core of what drives us.

Click to check out DebtBusters.

Debt Rescue

Debt Rescue is an established company boasting 2 awards at the Debt Review Awards 2015. A South African favourite and a recognised institution by the Debt Review Awards panel of judges.

Debt Fresh

Debt Fresh is situated in Port Elizabeth. They have people skilled in the debt counselling industry and will be able to give qualified advice to customers.

Letsatsi Finance and Loan

Letsatsi Finance and Loan has over 15 years of experience. They were Established in 1999 and have more than 40 branches in 6 provinces across South Africa.

Please remember that another loan means another monthly instalment to pay. If you default on your payments of your new loan it will just worsen your credit record.

Not all of the institutions that are named here may be able to give you bad credit loans. All of the institutions will however be able to assist you in your situation. Contact them to assist with your credit score and have a look at Fincheck’s loan comparison page.

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Fincheck is a financial comparisons website that organises information to assist the borrower in making their best financial decision.

Fincheck gathers information from numerous banking partners and presents it to the borrower in a simple, understandable way. Lenders benefit from an additional market place and extensive customer reach. Loan amounts vary from lender to lender. Fees, interest rates, loan amounts and credit scores influence the repayment terms. Lenders require personal details to control their risk and assist the government to combat theft, money laundering, terrorism. Fincheck does not endorse any particular product or company. We are an independent company. The information shown and provided is an opinion, based on numbers and must not be seen as advice or consultation.