In this economy it is not a surprise if one experiences financial difficulties because of reasons that are beyond one's own control. It is not just the economy of South Africa that is going through this process but everywhere around the world people are suffering because of a similar economic situation. One of the financial aspects that get problematic in such situations is the ability of a person to secure a loan. In the financial sector this is known being blacklisted. A person who has been blacklisted cannot get a loan because they have failed to repay their debt in the past. Most lenders are not willing to assume the higher risk. In the majority of cases in South Africa if you are going through the above mentioned difficult financial times the regular financial institutions are not going to give you a loan, but there are readily available loans for blacklisted.

I'm blacklisted, do I have a chance ?

However, despite the gloomy situation, it is not the end of the world. There are alternative options that one can tap into in South Africa. There are lenders that have designed their systems especially to accommodate such sort of situations. The key alternative that we are going to talk about here is the range of blacklisted loans. These are loans for people who don’t have the right kind of credit standing to go to a regular institution. Blacklisted individuals can get loans that they require from these special lenders.

Now the first question that comes to mind is where to find such a place in South Africa.

The most common place one can look around is the internet where most such lenders have established presence, in the advertisement section of the paper, on community boards and business plazas too.

There are a few things that one needs to know about this system. One is that these lenders are going to charge a comparatively higher interest. This is because of the potential risk that is involved in giving out this sort of a loan. Also, this is not going to be an unsecured loan, again because of the potential risk involved in the process.

At the time of applying for the loan, one needs to provide a set of personal documents so that the company giving out the loan can make the required verifications. Every company is going to have their own criteria. In general to get such a loan, one has to be employed. As far as customer service is concerned one should look for a good one despite the circumstances.