Borrowing money can be handy sometimes, but sometimes you can have too much of a good thing. Getting a loan or having credit is a good way to help you get ahead; it gets you to work, gives you freedom, saves you time, but if you don’t manage credit correctly and keep it under control, it can have a negative side.
Some financial institutions may be able to assist you in getting a loan for more than you owe but we would advise that you don’t do that. If you blacklisted, you will probably think you need to go to a loan shark, but we are here to tell you that you can still get help with us.
They will first have to check if you can afford to pay back the loan amount you are requesting and if the affordability assessment shows that you cannot afford it, they will probably deny you the loan as it will be considered reckless lending.
However, if you are talking about getting a consolidation loan, to help you manage your debt, then this might be available to you. With the consolidation loan, you will receive money to pay off your other debts so that you only have one payment to worry about.