If you are under debt review, you may have seen adverts online promising you a loan even if you are
“blacklisted” or already in the process. When money is tight, these offers can look very tempting.
But please be careful — they are not real, and the people behind them are only trying to trick you.
When you enter debt review, it means your debt counsellor is already helping you pay off your debts
in a way you can afford. One of the rules of debt review is that you cannot take out any new credit
until you have paid off what you already owe. This protects you from sinking deeper into debt. So no
matter what an advert might claim, it is not possible to get a legal loan while in debt review.
Sometimes, scammers will even promise to “clear” your debt review status so that you can borrow again.
The truth is that even if they removed your status from a credit bureau, you would still not qualify
for new credit until your debts are settled and you can afford it. Any genuine credit provider has to
check your credit record and make sure you have enough income to pay them back along with all your
other monthly expenses.
Scammers know that people in debt review may feel desperate for quick cash. That is why they ask
you to pay them money upfront for things like “fees” or “insurance.” Once you send them the
money, they disappear, and you are left with nothing but more stress. It is not only dishonest,
it is cruel.
The best way to stay safe is to remember a simple rule: real credit providers do not ask for money
upfront. If someone offers you a loan without checking your credit history or without making sure
you can afford it, they are not real. Rather than risk being scammed, talk to your debt counsellor
if you are struggling. They are there to support you and help you through tough times.
Debt review takes patience, and it can sometimes feel tiring, but every payment you make is a step closer to being debt free. Do not let scammers derail your progress. If it sounds too good to be true, it usually is. Stay safe, stay focused, and protect the hard work you are already putting into becoming debt free.