There are blacklisted finance lenders in South Africa that you can make use of when you need to borrow money. In this case, it does not matter that you have a bad credit record, but the only thing you will have to look out for is the interest rate they will be charging as this is normally where they make their money by lending to a “risk” such as yourself. You have debt already (or just a bad history), so you don’t want to mess this opportunity up too, and this is why you have to be completely sure that you won’t miss any payments when it is time to pay back the secured loan you took out.
You will still have to provide the blacklisted finance lenders in South Africa with all the specified documentation to prove that you can afford to make the necessary payments on the loan, so if your application does get denied, this could be the reason. The secured finance will only be yours if they believe you can afford it with the interest rate they will add on. Just because you have a bad credit record many people will not do business with you, in terms of you borrowing from them or buying on credit; they will not allow it, but this is why there are lenders out there that specifically borrow money only to those with this type of history.
They are best found online, but you will also find a good few by looking in the newspapers that get delivered to your home weekly. Otherwise you can go and purchase a newspaper at the store and look through there; these lenders advertise everywhere so you just have to keep your eyes open. Make sure you are happy with the interest rate you get from the blacklisted finance lenders in South Africa before you sign any papers.