Personal Loans with Bad Credit in Australia
Loans from $5,000 to $25,000**
Don’t be held back by a bad credit history.
Apply for a Finance One Personal Loan.
We understand that life can be unpredictable, with a Finance One Personal Loan you may not have to miss out – even if you’ve experienced a bad credit history! We’re committed to helping people solve their financial problems with a bad credit history and help give them a second chance at finance.
What can I use a Personal Loan for?
- Home Improvements
- Vehicle accessories
- Medical bills
- Vehicle Repairs
- Travel
- Trailers
- Education Costs
- Weddings
- And much more
- Home Improvements
- Vehicle accessories
- Medical bills
- Vehicle Repairs
- Travel
- Trailers
- Education Costs
- Weddings
- And much more
You’re not alone.
If you’ve previously had a credit incident, securing personal finance in Australia through the big banks can be a tricky process. But here at Finance One, we believe that everyone deserves a second chance for finance! That’s why we offer personal loans for people with bad credit or who have had difficulty sourcing a loan elsewhere, looking for a second chance.
We understand that sometimes bad credit just happens – we get it! We have helped thousands of everyday Australians in similar situations.
Loans from $5,000 to $25,000**
Loan Terms from 3 - 4 years
Approvals in as little as 24 hours*
Can I apply for a Finance One Personal Loan?
Income.
Are you receiving regular income?
Borrow.
Do you want to borrow between $5,000 to $25,000?**
Age.
Credit History.
Defaults on your credit file or discharged from bankruptcy?
Why Finance One? Because we believe in second chances.
Since 2010, Finance One has taken a compassionate and flexible approach to lending to everyday Australians.
We strive to find finance solutions for everyone – even those who have been rejected by the banks. We go above and beyond to help provide smart solutions to your finance problems.
Flexibility
Finance One customers can make extra repayments or increase their repayment amount at any time.
100% Aussie
With offices in Townsville and Brisbane our team is ready to assist you in finding financial success.
Support
Getting a personal loan with bad credit
Self-employed people/People with seasonal income sources/Retired people
Being self-employed can mean that you don’t fit the “right” profile for borrowing from some of the major banks or lenders, even if you’re very successful in your role. Unfortunately, the same also tends to apply to people who are retired or have seasonal sources of income. However, at Finance One, we understand that not fitting the mould doesn’t mean that you’re not a reliable borrower. That’s why we offer personal loans for bad credit as a means of helping people apply for the finance they want.
Casual employees/short-term contractors
Customers with unorthodox borrowing needs
Maximising your chances for easy personal loans with bad credit
We’ve put together some key tips around how you can apply for a personal loan with bad credit. There’s more to the process than simply filling out an application form; preparing properly in advance can significantly increase your chances of being approved.
1. Avoid multiple applications
Before you decide on a loan provider, it’s a good thing to do your due diligence and look at several different providers. But one of the most common mistakes people make is putting in multiple applications for loans while only accepting the one that they actually want after approval. But this can have negative repercussions for your credit score, as multiple lenders will likely be investigating your credit score. It’s critical to discuss the terms of a loan directly with a provider prior to making a final decision.
2. Budgeting
Before you make a decision on your loan provider and lodge an application, make sure that you can demonstrate a consistent pattern of saving. At Finance One, we understand that credit scores aren’t necessarily indicative of financial habits — but having evidence of it in the form of bank statements and receipts can be a great way to prove that.
3. Clear off your credit report
Many people aren’t aware that debt isn’t automatically cleared off your credit report when you’ve finished repaying it. So before you apply for a loan, make sure you check your credit report — this can sometimes help ensure that you don’t have any past debt limiting how much you can borrow.
4. Make your repayments
This might sound obvious, but once you’ve got a loan, it’s critical to make repayments to the lender in a timely fashion and in accordance with the terms and conditions of the loan contract. It helps demonstrate your reliability as a borrower to future lenders while also ensuring that the loan is repaid in a timely fashion and pursuant to the terms of the loan agreement.
Boosting your chances to secure personal finance for bad credit with Finance One
Here at Finance One, we understand that bad credit isn’t forever — it’s a moment in time, and getting a loan can be a great way to either build or rebuild your credit score. With our personal loans for bad credit, you should be able to get back on your feet in no time. Although we can’t offer personal loans for bad credit with guaranteed approval, we do understand that every situation is different, and we’ll work with you to try and help you find an appropriate solution.
In addition to our personal loans for bad credit, we also offer an extensive range of other finance options for people with bad credit, including loans for:
Finance One provide loans Australia wide including the Central Coast, Sydney, Canberra, Melbourne, Hobart, Adelaide, Perth, Darwin, Brisbane, Cairns, and the Gold Coast, getting personal loans with bad credit history has never been easier. Get in touch with our team to discuss your options.
*All loan approvals are subject to satisfactory documentation being received to assess the application. Normal lending criteria apply. Fees and charges are payable. Terms and conditions apply.
Let us answer your questions.
Can I apply for a personal loan from Finance One if I have a bad credit history?
Yes! Finance One can consider applicants whose credit history includes defaults, previous bankruptcies or Part IX Debt Agreements.
What could my interest rate be?
Our interest rates can vary depending on your overall profile including, but not limited to, your stability in employment and residency, your credit history, affordability and your banking conduct.Â
Can I make extra repayments, increase my repayments or pay my loan out early?
Yes, you can make extra repayments or increase your repayments. For consumer personal loans you are able to pay your loan early as we have no early pay out fees.
What documents do I need to provide when I apply?
The minimum documents we require for an application include:Â
- three months of bank statements (we will provide you with our secure link to bankstatements.com.au to provide your bank statements);Â
- proof of your income; andÂ
- completed application form and privacy statement.Â