Reviewed and updated: 12 October 2026 · MBC Finance
When debt repayments become difficult, adding another loan can increase the problem. Start with a clear budget and an honest view of what you can repay.
List the full picture
Write down reliable income, essential expenses, repayment dates and outstanding debts. Separate a once-off expense from a regular shortage. Borrowed money is not additional income.
Contact creditors early
If you expect to miss a payment, contact the creditor promptly to discuss your circumstances. Keep records of conversations and obtain confirmation of any agreed change. Do not assume an arrangement exists until it is confirmed.
Seek suitable help
Where debt is already beyond your means, consider guidance from an NCR-registered debt counsellor. A small personal loan is not automatically debt consolidation or a cure for over-indebtedness. Do not rely on a loan to repay another loan repeatedly.
If you consider an MBC application
MBC’s current policy requires permanent employment for at least 6 months or pension income and sufficient affordability. Applicants under debt review or administration cannot be assisted. If approved, examine the full costs and repayment schedule before accepting.