Having bad credit can make it almost impossible to acquire any kind of loan. Buying a house or car on credit can become nearly impossible when you are blacklisted.
Becoming blacklisted may be a result of poor financial decisions or unfortunate financial circumstances due to sudden changes in financial circumstances. A bad credit record means that you will be regarded as a financial risk to most lending institutions.
Given the increase in the number of people who have become blacklisted in recent years, more lending institutions have created facilities designed to tap into this market. There are numerous companies that have spotted a gap in the market who now provide a much-needed service to blacklisted people.