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A bad credit loan is possible. In fact, At Rapid Finance, we have helped thousands of Australians with a less than perfect credit history. If you have unpaid defaults, credit card debts, or little documentation and need money to buy a car, home or bike, get started today:
If you're looking for a bad credit personal loan allow Rapid Finance to do the work for you. A friendly bad credit specialist from oour team will identify your financial strengths and use them to negotiate with various lenders. Not sure if a personal loan is the right choice? View our full range of bad credit loans.
Bad credit personal loans are specifically designed to help applicants with a bad credit history or a low credit score. For example, those who've experienced credit defaults, bankruptcy, or part IX debt agreements. Bad credit loans provide funds for a range of personal expenses, such as unexpected bills and temporary shortfalls in cash. These loans are available through lenders and brokers who understand that you may have difficulty getting approved for traditional loans due to your credit history and who are experienced assisting people with bad credit.
There are several advantages to bad credit loans, as a borrower:
Don't worry if you've had credit challenges in the past or have been rejected by the banks. Whether you need cash for emergency expenses, car repairs, a holiday or need a bad credit loan for some other reason, we're happy to help. Our expert finance consultants can help find the right solution for your circumstances:
Even with bad credit, we have access to a large panel of lenders, all with different rules on who they will lend to. We'll do our best to match you with the right lender - fast!
Please note: This is an estimate provided for illustrative purposes only, and is based on the accuracy of information provided. It does not constitute a quote. Additional fees and charges may apply dependent on your individual circumstances. Fees such as early repayment costs and establishment fees are not accounted for in the examples of weekly repayments. Interest rates may be subject to change throughout the term of the loan.
Learn your chances of loan success with a free Rapid Finance credit check. It’s fast and easy, and it won’t affect your credit rating. Request your score today – it only takes a few minutes!
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To pass our basic criteria, you must:
You must not:
Rapid Finance help people with bad credit get their home loans approved, all across Australia every week. We are bad credit home loan experts, with over 20 years financial experience. Head over to our bad credit home loans page to get started.
Yes, you could get approved on Centrelink benefits, when you are also receiving a regular income, whether that is from full-time, part-time, contract or self-employment or even Centrelink, through Rapid Finance. We have a number of loan products which may be suitable to your needs. However, the amount you could borrow, will depend on your income, expenses and the loan’s affordability. We will also consider applicants who wish to add their partner to the loan.
Did you know you could even qualify for a Centrelink Car Loan? Check it out!
Every customer is different. We can't give a guaranteed approval, without looking into your current financial situation. However, if you have passed our basic criteria, you will have a very good chance of getting a loan approval through Rapid Finance - even if you have a poor credit history
Check out our Free Finance Assessment, at the top of the page to get started.
If you don't know your credit rating and would like to check, Rapid Finance offers a free credit check. By using our free credit check, your credit rating will not be effected!
Yes, you could. As a lender, there is more risk when an applicant or borrower is in a new job or on probation, but it is possible. Your chances will improve after the probation period has ended, which is generally after 3 months in the new role. If you work contracts, it is also possible to get approved with Rapid Finance. You will need to demonstrate regular income and that the loan is affordable to you. We will work with you to find the right lending product, that suits you. We have a number of lenders on our panel, who will accept applications when the borrower is on probation in a new job.
If your credit score has seen better days, don't worry. There are plenty of advantages when getting a loan through a broker like Rapid Finance:
Just a heads-up, while many people find brokers like Rapid Finance really helpful, some brokers might charge fees (don't worry, we don’t). And remember, we can't reach out to every lender out there, so make sure to do a little homework on your own before making a decision.
Yes, we will need 2 pay slips and or a copy of your Centrelink income statement.
There are a few things you can do in the short term. Make sure you do not empty your bank account every pay day. Limit the amount you spend on gambling. Stay in the same job and at the same address if possible. Pay off as many debts, as you can. Review your credit score and make sure everything is correct. You can check your credit score for free, with Rapid Finance. Most importantly, be as honest as possible in your application with us.
No, you don't. However, there are some advantages to providing security against your loan. You are more likely to get approved, for a larger loan amount and at a better loan rate. This is due to their being less risk for the lender. Some common items of security include your car or your home.
To learn more about our secured loan options, see below:
All the lenders on our panel work under responsible lending guidelines and have processes in place to assist, when customers financial situations change. The important thing is to contact the lender directly (or us, so we can help), as soon as you can, so they know why and can assist you.
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