Bad Credit Loans

A bad credit loan is simply a cash loan for people who have bad credit ratings. It may sound unpleasant, but it actually helps individuals who have low credit scores to access the quick cash they need. Usually it is a secured loan, which means you need to provide collateral such as property, car, etc., to be qualified to get this loan.

Getting knocked back from borrowing money? If banks and credit unions don’t seem to want to lend you money, it could be a sign that you have a bad credit score or a less-than-ideal credit history.

The simplest way to check is through ClearScore. It’s free and takes three minutes, giving you credit information from illion and Equifax. Armed with this information, you’ll get a clearer picture of how lenders might see you.

Whatever your score, we believe everyone deserves a fair go. We can work with you to personalise a loan that’s suitable for you.

Your credit score can be affected by various things. And for many, it’s the result of a simple mistake. You can request a free copy of your credit report from ClearScore if you want to investigate further.

Credit score taken a hit? These things could be the cause:

• You missed some bill payments.

• You defaulted on a loan.

• You forgot to make credit card repayments.

• You filed for bankruptcy.

Not to worry. At Fair Go Finance, we know that your credit score is just one factor, and it won’t be the only thing we focus on when assessing your loan application.

Unfortunately, yes. Every time you apply for a loan, the enquiry is added to your credit file. And if you have too many requests for credit, it can make it harder to secure a loan.

At Fair Go Finance, we understand the ins and outs of credit scores, and we can tailor our loans to suit your unique circumstances.

Not always. It’s possible to damage your credit rating further by applying for a bad credit loan and being unsuccessful. Also, it’s important to choose a loan that’s right for you and your circumstances. Bad credit car loans are also available for those looking to finance a vehicle despite having a poor credit history.

Ask yourself the following questions when you’re looking for a bad credit lender:

• Are you eligible?

• Do you really need a cash loan?

• Is a cash loan the best form of credit for you to apply for?

• What are the terms of the loan, and do they work for you?

• Have you shopped around?

• Can you afford the repayments?

We can help. Our personal loans can be tailored to you. And if you make repayments on time, your credit score will get a boost during your loan term.

Our goal is to give everyone a fair go. And that includes making loans for people with bad credit scores. But as a responsible lender, we can’t guarantee every applicant will be eligible for a personal loan. Instead, we assess everyone as an individual. Securing a loan with bad credit is possible by focusing on your current financial situation rather than just your credit history.

Whether you’re suited to a bad credit loan or not, we’re still here to help you improve your financial health. You can speak to our team on 1300 324 746 or get in touch here.

Our goal is to give everyone a fair go. And that includes making loans for people with bad credit scores. But as a responsible lender, we can’t guarantee every applicant will be eligible for a personal loan. Instead, we assess everyone as an individual.

Whether you’re suited to a bad credit loan or not, we’re still here to help you improve your financial health. You can speak to our team on 1300 324 746 or get in touch here.

Yes. As a responsible lender, we make sure every applicant can comfortably take on the loan we offer them. And a credit check is one part of the process. But we’ll also consider your income and outgoings, so it’s not the only factor.

We use Comprehensive Credit Reporting (CCR) to ensure our customer’s positive borrowing behaviour boosts their score. And it’s just one way we can help you improve your financial health and borrowing power.

The first step to fixing your credit score is understanding your financial health. You can request a free copy of your credit report from ClearScore to get you started.

Our personal loans for people with bad credit can help break the cycle. They’re personalised and responsibly structured, so you can comfortably make repayments. Poor credit loans are designed to help individuals with low credit scores improve their financial health through responsible borrowing. And thanks to Comprehensive Credit Reporting, which rewards positive borrowing behaviour, your credit score will improve as you pay back your loan.

How much you are eligible to apply for will depend on your current financial circumstances and requirements. As a Responsible Lender we want to make sure your loan is affordable for you, so we will always need to complete your assessment first before we can provide you with the loan amount you’re eligible for. Loans for bad credit are available to cater to diverse financial situations and urgent needs.

Our loans are based on your individual and current financial circumstances. Until we receive your application and your bank statement information, it is not possible for us to guarantee you will be approved.

Our loan repayments vary depending on the loan amount, the loan term and the interest rate. You can use our loan calculator as a guide, however because we tailor our rates to your unique credit profile, we will not be able to confirm any repayments until your assessment is complete.

The interest rates for our loans are calculated using risk-based pricing, which simply means the better your credit rating, the better the interest rate you can be eligible for. We won’t be able to confirm what interest rate you may be eligible for until your assessment is complete, however you can see the range of our interest rates for our personal loans here.