Debt Review School | Don’t Take On Debt For Other People
April 29, 2024
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Debt Review School
If a family member or friend asks you to take on debt for them or to loan them money that you need to pay your existing debt, you may want to help them.
However, there are many credit providers in South Africa who specialise in providing credit.
Why not ask your family member or friend if they can rather make use of one of these credit providers? If they are scared why not go along with them to help them as they make an application with someone who has available funds and deals with credit applications all year round.
Remember, as long as they can realistically afford to repay the debt they will qualify. If they worry that they won’t get the credit because they will not be able to make the repayments asked then you would not be able to help them in your personal capacity anyway. They would also never be able to pay you back.
Another option is to introduce them to your Debt Counsellor.