Lending to people already in debt is a very broad concept. In theory, anyone who has any credit or loan in a loan company or bank is a person in debt.
In the colloquial sense, however, a loan for those in debt is a loan that is for people who already have problems paying off their obligations. Often loans to the indebted are given to people with a negative opinion and history in the Credit Information Bureau and a court bailiff.
Cash loans are available to everyone
In short, even for those in debt. It must be made clear that people who are indebted and cash loans are something that is difficult to connect to, the only solution is for loans for those in debt, only in this version. Access is limited due to negative credit history.
The condition is, of course, that you have real estate and a stable source of income. Some banks are also reluctant to provide loans to those in debt, even though they insist on loans without a credit bureau. The truth is that each client is treated in a special way, and each person is considered individually.
Loans for companies that are already in debt
There are also companies on the credit market that provide loans to companies already in debt. The truth is that a company in good financial condition and with experience in the labor market will not have any problems getting loans. Some banks declare that they are able to lend to millions of small businesses even millions, but as always there are small prints and conditions at the bottom. When analyzing bank offers for enterprises, banks are very willing to borrow up to several million dollars.
However, to obtain this loan you have to meet a lot of requirements, mainly it is about documentation related to the company’s condition. For companies that do not meet the requirements listed by the bank or simply need a smaller amount, banks propose a current account, credit card or debit on her account. Such loans start from several thousand dollars and end up even on several hundred thousand dollars.
The more difficult situation is when proceedings against the case are conducted by a court bailiff, then it is much harder to get a loan. Of course you can get a loan with some debt relief but finding it is much more difficult than a regular cash loan.