Bad Credit Loans

Get a second chance at finance. Talk to one of our specialist loan consultants about bad credit loans.

Apply for bad credit Finance


        
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No impact on your credit file

no impact on your credit rating

We Are Australian Bad Credit Loan Specialists

6 types of bad credit loans

We have loans for all types of bad credit circumstances:

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Bad Credit Debt Consolidation

If you have damaged credit but still need to consolidate your loans there are still options. Bad credit debt consolidation loans offer those with poor credit to get on top of unmanageable, multiple debts so they just have one regular monthly repayment.

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Bad Credit Personal Loans

With a simple, streamlined application process, our personal loans for bad credit applicants, help to reduce the stress and anxiety. We have a fully trained team of understanding loan consultants who bad credit personal loans.

Business Loans Services

Bad Credit Business Loans

Are you looking to build, run or grow your business? We have over 25 years bad credit business loan experience. Our team can introduce you to a broad range of business finance options, even if you have a bad credit history.

car loans and finance

Bad Credit Car Loans

Start hearing “yes” to your car finance enquiry. Our background helping people with bad credit get behind the wheel of their dream car. If you long for that “new car smell” talk to one of our trained, experienced bad credit car loan experts.

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Bad credit home loans

We know you have worked so hard to pull your deposit together and want to get the best result for you. Our team work tirelessly to help borrowers with bad credit get the best home loan available, even for those who are credit impaired.

Dental Bills

Dental Loans for Bad Credit

It’s hard when you get that quote from your dentist and you just don’t have the available funds to pay for urgent dental work. Bad credit dental loans are available and are geared to help make dentist bills this more manageable.

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Low Credit Score Loans

If you have been declined based on a low credit score or having no credit score, Australian Lending Centre will not assess your credit score when you apply. Additionally, you don’t have to feel helpless because of a bad credit rating. 

Investment loans

Fresh Start Loans

Don’t have a squeaky clean credit file? At ALC we think it’s unfair if you can’t get a suitable loan because you have a bad credit score. We offer fresh start loans so you can start investing in your future. Your past stays in the past.

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No credit check loans

Need a fresh start for your finance? The Australian Lending Centre believe in fair finance, even if you have a bad credit score. Our fresh start loans allow you to start investing in your future and you past stays where it belongs, in the past.

Is your bad credit history getting in the way?

It is important to realise that you aren’t the only person that has bad credit. In fact, it is estimated that up to 20% of people in Australia had marks on their credit history. The result of this is bad credit and limits to borrowing money if you need to.

The reason there are so many financial products in the market is that circumstances are like DNA, everyone is different. The causes of credit impairment and many are out of your hands.

Australian Lending Centre are specialists in personal loans, commercial finance, home loans and debt consolidation, many of which can be tailored for individual who have found themselves with bad credit.

Australian’s turn to us when the banks have turned them down and their credit file has unpaid debts and late payments. We have fully-trained, specialist loan consultants who can put together a tailored plan to get you in a better financial situation. And don’t forget, enquiring with us will not leave an enquiry on your credit file.

Bad credit debt consolidation
Family happy despite having a bad credit history

A Bad Credit Loan Can Assists You to...

If you forgot to pay a parking fine, got into a pickle with Centrelink, had a default on an energy or your credit cards are out of control, you could quickly end up with black marks on your credit history. These can lead to the banks saying “no” to finance enquiries, which then add more negative events on your credit file. It’s a downward spiral.

Because we want to help Australians trapped by bad credit, we work hard to find bad credit financial options for our customers. Our mission is to find loans to suit bad credit applicants, who may think they have no other options available.

25 Years Experience in Bad Credit Loans

It is important to realise that you aren’t the only person that has bad credit. In fact, it is estimated that up to 20% of people in Australia had marks on their credit history. The result of this is bad credit and limits to borrowing money if you need to.

The reason there are so many financial products in the market is that circumstances are like DNA, everyone is different. The causes of credit impairment and many are out of your hands.

Australian Lending Centre are specialists in personal loans, commercial finance, home loans and debt consolidation, many of which can be tailored for individual who have found themselves with bad credit.

Australian’s turn to us when the banks have turned them down and their credit file has unpaid debts and late payments. We have fully-trained, specialist loan consultants who can put together a tailored plan to get you in a better financial situation. And don’t forget, enquiring with us will not leave an enquiry on your credit file.

Enjoying life beyond bad credit history
Trouble making repayments and afraid of asking for another loan?

Are the banks saying "no" due to bad credit?

The Australian Lending Centre specialises in helping people who are looking for a loan with bad credit.

Initially we look at your personal and financial circumstances, to understand which loans and services are best in your situation. Our consultants really listen and want to help.

A consultant will then go through solutions available to you, so you can make the best decision moving forward. Our loan application process is under 10 minutes and we will get back to you with an answer within 48 hours. In most situations, we can offer solutions, when the banks won’t. And remember, applying with the Australian Lending Centre will not negatively impact your credit score.

Over the last 25 years we have helped thousands of people, just like you, get bad credit loans and we can offer that support to you today.

Are you struggling with repayments?

When banks refuse finance it can feel like you will never achieve your dreams. If you have multiple large loans and can’t seem to keep up with repayments it can be daunting to ask for help. The Australian Lending Centre welcomes people who are in this situation.

The Australian Lending Centre are in the business of finding a way out of the debt cycle. All you need to apply with us is some form of employment/income and a bank account. Our consultants understand if you have fallen behind in a few repayments.

People worry that a bad credit score mean they aren’t eligible for finance, but we welcome bad credit applicants. Your situation is unique and bad credit is the result of a variety of factors. Our team looks at each application in an individual basis to determine which product will be best for each individual, so we can customise you loan specifically.

Trouble making repayments and afraid of asking for another loan?
Secured and unsecured bad credit loan option

Secured/Unsecured Loan Options

When you find yourself with bad credit, it’s good to understand that owning or paying off property is not essential for obtaining bad credit finance. There are two main personal loan options: secured personal loans (secured with equity) and unsecured personal loans.

Even without equity, there are still bad credit financial products that offer flexibility with repayment terms and personalised customer service. Personal loans for bad credit can be approved in less than 3 days. One of our specialist loan consultants will help you get the best interest rate and repayment terms to make the most of your finance.

How do I apply For A Bad Credit Loan?

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1. Apply Online

Our form takes less than 30 seconds and won't impact your credit score.

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2. Let's Talk Finance

Once we get your enquiry, we will call to clarify details and get to know you.

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3. Upload Documents

You will need to upload your documentation so we can verify your information

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4. Sign Loan Offer

Once your loan is approved, check and sign your loan offer.

Loan funds transferred

5. Funds Transferred

Funds can be transferred in as little as 48 -72 hours from loan approval.

Bad Credit Finance FAQs

Our range of loan products includes bad credit quick loans, bad credit secured loans, bad credit business loans, unsecured personal loans, secured personal loans for people with bad credit, personal loans with bad credit and many other kinds of bad debt loans.

At the Australian Lending Centre our aim is to make applying for finance, whatever your credit score, easy and fast. Unlike the banks, we don’t require huge piles of documents and can be more lenient on criteria. This means that the process from first enquiry to application approval only takes a few days, not weeks. Less fuss, less stress.

Get to know you credit score. Find out exactly what is on your credit file. Is is as bad as you thought it was? The down side to bad credit loans is that they tend to have higher interest rates and may not be quite as flexible. It’s important to have a realistic picture of where you stand credit wise, so your loan will match your situation.

Do you really need finance? Ask this question and if you do, be realistic about whether you will be able to service your loan. If you default, you may end up harming your credit more. Make sure you are able to pay back the loan under the terms of the agreement. Doing a budget is useful at this stage.

Is credit repair something to consider? If you have a bad credit report, but there are errors on your file you could repair this, which in turn could save your a lot of money in interest, as the higher your credit score, the lower your interest rates. We recommend Clean Credit to help you improve your credit if this situation applies to you.

Apply for your bad credit finance. You can enquire online in just 30 seconds via our apply now button. We will be in touch within 24 hours to chat about your financial and personal situation and the options that are available for you. If you are approved, you could receive funding within 48 hours.

In short yes! We can find the perfect loan for you, regardless of your credit and car loans are no exception. If you need to upgrade your current car or need a new vehicle to get to your new job, having bad credit doesn’t mean a dead end. Get on the freeway to a new car with one of our car finance options, despite having a bad credit report.

You may need to pay more in interest that someone with pristine credit report, but there are options to get your behind the wheel of the car you want. Most people don’t buy a car outright and if you stick to your payment schedule, you won’t damage your credit report any further.

Because a bad credit loan means a higher risk to the lender, it is common to find that the fees and charges for this type of loan may be higher than for someone with a healthier credit history. This of course varies individually and will depend upon how much you want to borrow, the length of the loan, repayment schedule and whether or not the loan is secured against equity. A secured bad credit loan may give you an interest rate that is better. To get a good idea of your fees and charges, complete our 30 second enquiry form, which won’t affect your credit history in any way, or call and speak to one of our team members on 1800 138 188.

We charge a fee when your loan is established. This is called the loan establishment fee. The loan establishment fee covers such things as credit assurance, assessment and the verification services needed to process your application to give you the loan. This small one-off fee usually ranges between $100 – $700. You will be required to pay the fee at the time your loan is established and generally it is not refundable.

If you want to look at other bank alternative finance options, the Australian Lending Centre offers a very broad range of financial products including:

Debt Management: We are experts in solving debt problems. No matter where you are in the debt cycle, we have a product to suit. Our solutions range from consolidation, debt negotiation, debt management (where we manage your debt repayments with your creditors) and debt agreements.

Bad Credit Debt Consolidation: If you’ve got multiple debts that you are struggling to repay on time each month, a debt consolidation loan, even with bad credit, is a great place to start. You’ll only have one repayment each month, one set of fees and one interest rate, which is generally lower than credit card interest rates, so you’ll save time, money and stress.

No Credit Check Loans: Do you want to protect your credit history? Are you worried that applying for a loan will cause damage to your credit? No credit check loans are there to allow individuals to apply for finance without the worry of a credit enquiry on their report. You can still be approved for a loan based upon other criteria.

Credit Repair: If your credit history contains incorrect information then you probably have a case to have these marks removed from your credit report. Making sure your credit is a high as possible can save you money in lower interest rates and more favourable terms. Get in touch to see how we can help you clean your credit.

When you find yourself in a situation with a bad credit history, bad credit loans offer you a second chance at finance. If you have applied to the banks and been refused a loan it can feel like you have no other options. You may have made late payments in the past or let your debts pile up because it was too hard to manage. The Australian Lending Centre talks to people, just like you, everyday. There are options for people with bad credit, it is not the end of the line. If you need money for the dentist, medical bills, to pay school fees or to buy a much needed car to drive the family around, talk to one of our caring professionals. Bad credit loans are there when you don’t have the option of a bank loan.

A secured bad credit loan is where you use equity in an asset you own (or as in the case of property, may partially own). The reason for using equity is to offer the lender less risk when lending you money. It tells the lender that you guarantee you will pay the loan, against your asset. Taking our a secured bad credit loan can lower your fees and interest and offer better terms for your loan, as the means you are a safer risk to the lender. For example, if you have equity in your home, you can borrow against that equity, to secure your loan. You need to remember however, that this puts that asset at risk should you not meet the terms of the loan.

If you don’t have the luxury of being able to use an asset such as a car or house to secure a loan, then you need to apply for an unsecured loan. An unsecured loan is a more risky proposition for a lender and therefor the institution will probably charge higher fees and interest rates, to mitigate any risks. At the Australian Lending Centre we are able to find the best unsecured bad credit loans to help you get back on your feet again. As with all loans it is vital that to stick to the repayment plan exactly and don’t make late repayments or you could risk further damaging your credit history. If you are in debt, there are other options, such as debt management or debt agreements to help you pay your debts off which will, in time, help to restore your credit reputation.

Yes, although it depends on your situation. If you have good credit and a limited amount of debt, you probably won’t need to close your existing accounts. You can use a balance transfer or even a debt consolidation loan without this restriction. Getting a balance transfer credit card never comes with restrictions. If you get approved for the card, the creditor will not require you to close your other cards.

After going ahead with a credit card debt consolidation loan and bringing the amount owed to your credit card providers down to $0, it’s not recommended to cancel your credit card accounts.  Having a zero-balance credit utilisation ratio will boost your credit rating.

If you do close your credit accounts off then your available credit will shrink, lowering your credit utilisation ratio and if you need to access finance in the near future, it will be a much harder if you have to go through the process of applying for & being approved credit cards again.

If you find yourself being too tempted with your credit cards still being available, then lock them or store them away somewhere safe to avoid the temptation. Do you have issues with controlling your spending or living beyond your means? If so, you need to address these problems before looking to enter into a finance agreement such as a debt consolidation personal loan. Otherwise, you could face serious financial problems later down the line. Without controlling your spending, you could end up with a high level of outstanding debt again before too long. 

If you are feeling overwhelmed by debt there are people who can help. The free National Debt Helpline is open from 9.30am to 4.30pm, Monday to Friday.

There are several reasons why the banks are so strict in their lending criteria, most of which are the restrictions place on the big banks by Government. These changes are there to protect our financial system, however these changes have had major consequences, some of which were not intended. More recently the pandemic has led the banks to further change lending policies and loan processing.

There is a great emphasis on online applications, due to lockdowns and social distancing. Many lenders can process their applications electronically and lending policies have been tightened in response to the economic effect of the pandemic.

Banks require more documents than ever before. As well as this, banks don’t just believe what you say on your application form automatically, they need to verify all of your documents, including accounting for your debts, checking your current mortgage documents, your bank account and more. It can feel like a never ending process.

The Australian Prudential Regulating Authority (APRA) and the Australian Securities and Investment Commission (ASIC) require banks to keep records about how they assess applications. This means that the lender has to ask a lot more questions and they need this in writing, which can slow down or even stall your application. Because of this applications with banks take a lot longer than they used to to get approved.

Bank also take into account your living expenses using the Henderson Poverty index or the Household Expenditure Method (HEM) to assess your living expenses. When banks ask for you living expenses, they will either go off your stated living expenses or the HEM, which ever if higher, to calculator this. Households with high income will be scaled up, which can reduce your borrowing power, if you compare it to several years ago. If you living expenses are too low, the banks may be accused of not asking enough questions.

Banks can’t rely on common sense when assessing applications, due to the strict regulation placed upon them by APRA. They cannot make exceptions as they may have in the past. If you fall outside the very strict criteria it is unlikely that your loan will be approved.

Due to historical low interest rates in Australia, APRA has put restrictions in place to ensure that people won’t find themselves in hot water if those interest rates go up, due to debt to income ration, preventing people from borrowing more than 6 x their income. This affects interest only loans and investment loans in particular.

Other thing that the banks assess is your retirement age. For example a bank will not approve a 25 year loan to a person which is over 60. This change has come about from the guidelines of the National Consumer Credit Protection Act of 2009, managed by ASIC.

With all these strict guidelines there are many people who now find themselves unable to obtain loans from banks, which is why companies like the Australian Lending Centre, offer bank alternative finance options.

The Australian Lending Centre offers an alternative option to the banks. We have a range of bad credit loans from reputable, non-bank lenders for those people who have negative events recorded their credit history. These can include paid defaults, unpaid defaults, bankruptcy and part 9 debt agreements. If you have been to bank only to be declined for finance and your need finance, please take the 30 seconds required and get in touch with us. Because we specialist in bad credit loans we take to regular people, who may be struggling, to be the best possible financial solution to their financials woes.

Our trained consultants will listen to your story and work hard to find a solution that you will qualify for, to put you in a better financial position. We want to be there for our customers for the long haul. Many of our customers come back again and again because they have had success with us, where the banks have failed them.

When you get a bad credit loan approved, you have the opportunity to improve your credit rating with regular repayments and a second chance. A strong credit history will put you in a better position in the future.

At the Australian Lending Centre we treat every customer as an individual. Every bad credit loan applicant has a different story and credit history so requires a different solution to their financial situation. We do have to be responsible in our processes and so cannot guarantee approval to everyone. What we can say however is that we aim to find a solution to all our customer’s needs, based upon their individual circumstances.

It takes only 30 seconds to enquire for a bad credit loan with the Australian Lending Centre, and is obligation free and won’t impact your credit history. Get in touch for a chat with one of our trained consultants for a complimentary consultation to see how we can help you improve your financial situation today.