You are getting a Sassa grant, but you are looking for a Sassa loan. Is this something that Sassa really offers, or should you something else when you are desperately looking for an instant loan?
Many people are wondering about this. Do they provide a grant loan to their recipients? There is essential information that you need to know before you can legally apply for a loan where your Sassa card is the security.
Can you apply for a Sassa loan?
There isn’t such a thing as a grant loan. You can’t apply for a loan from the official Sassa office. If you come across advertisements that are claiming that you can apply for a loan directly from Sassa, you should report it.
Sassa is only providing a monthly allowance to those that qualify. There aren’t any funds or legal reasons why they would consider giving loans to people that are financially struggling in the first place. So, no, you can apply for a grant loan.
Loan sharks offering Sassa security loans
One thing that you need to know is that loan sharks and non-registered lenders are offering a grant loan. Meaning that your Sassa payments are going towards the repayment of the loan. Sometimes they take your Sassa card from you to prevent you from using the money before they are fully paid.
If you think that this is a good idea, then you should think again. Will, they actually give your card back to you, and what prevents them from copying your card, making an illegal duplicate? Yes, it has happened before, and it will happen again and again. This is why you should be very careful in applying for a loan where your card is taken from you.
Did you know that giving your Sassa card and payments as security to a loan is illegal?
You might not even know this, but giving your Sassa card and payments as security for a loan is illegal. You aren’t allowed to give your card to anyone else. It should always be in your possession. And, if it’s stolen, you need to make sure that you report it immediately.
It is actually illegal to ask for a loan on your Sassa allowance. This is why most of the lenders that are offering these loans, are asking huge interest rates, and why they aren’t legally registered as lenders. Legal lenders will never give you an approved loan when you don’t have an actually salary. Your Sassa allowance isn’t a monthly salary.
It is important that you report lenders that are taking your Sassa card as a security
If you want to be a good citizen, you actually need to report lenders that are advertising loans that you can get on your Sassa payments. Or, where they are offering to give you money, and keeping your card until you paid them in full.
This is a problem that the government has at the moment. Money that is going to other people and that is being used for other purposes. The idea about grants is to make living and supporting yourself easier. Not to use it for getting a loan.
Other information about these loans that you need to know
If you are getting grants, why would you want to spend that money on repaying a loan? Sassa recipients are already under financial strain. Getting a loan will make your situation just worse. The moment that someone is offering you an approved loan on your Sassa grant, you need to know that this is a scam. Don’t fall for these scams as so many other people before you.
Can you get a Sassa loan from the official office? The answer is a simple no. And, it is illegal to use your Sassa card or payments as security for a loan. If your card is being used, while in someone else’s possession, you will be in trouble and you will not get the assistance you need from the government.