Under Debt Review - Need a Loan




Under Debt Review - Need a Loan


Under Debt Review - Need a Loan

Can you get a loan under debt review?

If you are under debt review and think you need a loan, then something is seriously wrong. You are under debt review because you can't afford the full repayment of the debt that you have. The point of debt review is to repay your debt with an affordable yet reasonable amount. The credit bureau is notified of your application for debt review. No creditor should extend any form of credit to a consumer under debt review.

If you believe you need a loan because you find that cannot afford your debt review repayments, then it is possible that your budget wasn't calculated correctly, or your financial situation has changed.

If this is why you are looking for a loan, then you should rather speak to your debt counsellor and see if you can get your repayments restructured.

If you would like to get a loan to make a discretionary purchase ie a nice to have, not a must have, then it is unlikely that the court will restructure your existing loan.





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