This is a personal loan from $1,600 to $10,000
Available if you have a bad credit history
Flexible repayment terms to suit you
May assist in establishing a new credit history
A Bad Credit Loan is for you if you have one or more of the following:
Bankruptcy or Part IX Debt Agreements (where you entered into bankruptcy more than 12 months ago)
Too many inquiries
This type of loan may assist you in re-building your credit rating.
Who’s this product for?
Anybody who has a bad credit history and needs funds for a range of personal reasons.
Anybody who has made an excessive number of loan inquiries in the last 12 months
Am I eligible to apply?
You need to be at least 18 years of age, a permanent Australian resident, and in regular paid employment to apply. You will require security in the form of a vehicle (registered in the borrower’s name and unencumbered) security and or real estate (can be mortgaged).
Depending on your financial circumstances you may require a co-borrower to strengthen your application.
Sorry this loan type is not available if your sole source of income is derived from Centrelink.