If you feel overwhelmed by debt, desperation may set in. In this case, it's best that you seek financial assistance and advice from professionals like your bank's consultants, your financial advisor, an accountant or attorney who are best equipped and qualified to advise you. They may suggest that you consolidate your debt.
Debt consolidation helps you manage your finances more easily by consolidating – or combining- all of your existing debts and loans into just one account. Scammers use this information to lure you into sharing all your personal information with them and stealing any assets you have remaining. Make sure you are dealing with a registered and licensed debt consolidation agency.

A debt collector is any person or company other than an attorney who collects debts owed to their clients.Don't let debt collectors or scammers posing as debtor collectors, sweet talk you into instantly resolving your financial problems.
Check if the debt collector is registered with 'The Council for Debt Collectors, in accordance with the Debt Collectors Act 114 of 1998, Section 8. Website: https://www.cfdc.org.za/.
Understand the legalities. There are many complicated terms and conditions you need to understand and agree to. Ask your lawyer to review an offer made and explain the associated risks and consequences. Rather safe than sorry!

Beware of loan sharks. Loan sharks offer loans at extremely high interest rates, have strict terms of collection if you fail to pay, and often operate outside the law. They promise to loan you money without the 'complicated legal process' as they are probably not complying with the legal requirements that protect you.
Their exorbitant interest rates will place you further in debt rather than resolve your problems.

Don't loan money to people you are romantically interested in or don't know 100%.
Speak to or contact investors/customers who have dealt with the business.
Dealing with money can be a tricky and emotional subject, especially when it comes to loaning it. Friends and romantic partners may plead with you to loan them money for a particularly distressing reason, and make you feel guilty for not doing so. That guilty feeling is your first warning that it's NOT a good idea. Do not loan money to people you know very little about – they may owe you money, but they also owe you no loyalty. Scammers pretend to be friends and lovers, playing on your guilt and affections to manipulate you into loaning them as much money as possible, more than once, over an extended period. They then promptly disappear, leaving you abandoned and broke.
Your best policy is to be firm and refuse to loan money altogether. If they claim the funds are for a specific, genuine reason, however - school fees, for instance - pay the funds directly into the school's bank account after confirming the banking details with the school directly.

Guard your emotions & guard against “catfishing”
Seeking romance, and even a life partner, online is increasingly popular. This pursuit may well have a “happy ending” but it may also result in a broken heart, and shattered finances!
Do not trust the profiles on popular dating and social applications, when looking for a life partner. Scammers “catfish” potential victims with the intention of stealing as much money from you in any way possible, phishing your data by sending you images or links with malware, begging for loans for emergencies or telling you about some fantastic opportunity they have stumbled upon and offering you to join.
In extreme cases sensitive images shared / retrieved from your devices are then used to scare and blackmail you for funds or access to your banking details.
Scammers create fake online profiles to charm you out of your sanity and money.