Bad Credit

How much cash do you want?
How long do you want it for?

Loans from $2100 to $4600 require a car, motorbike, boat or caravan to be provided as security. If you cannot provide security, please apply for $2000 or less.

Repayments

The Annual Percentage Rate for Secured Medium Loans is 48%. Comparison Rate is 66.0347% p.a. This comparison rate is based on a Medium Amount Credit Contract for an amount of $2,500 over 2 years and a $400 establishment fee. Fees and charges are payable.

The maximum you will be charged is a 20% Establishment Fee and a 4% Monthly Fee. Under the current legislation lenders do not charge an annual monthly interest rate for our Small Amount Credit Contracts. You may know this as Annual Percentage Rate or APR(%)

Bad credit? No worries! Apply for bad credit loans with Nifty Loans!

Bad credit loans up to $4600! Affordable repayments structured over a tailor-made term. What are you waiting for? Apply now!

Bad credit loans – what’s all the fuss about?

Clearly, bad credit loans are considered bad because the big banks, certain Government bodies, and public opinion-makers say they’re bad. So, that must be true, right?

These few thousand people who are against bad credit loans aren’t paying any attention to the 988,000 people who relied on these cash loans in Australia over 2014-2015. At the end of the day, who would you believe? The stigma-makers or the genuine Aussie battlers? Who knows bad credit loans best?

Some people are not given access to mainstream lenders. Something has happened in their lives which led to a hiccup on their credit file. Maybe a Telco bill couldn’t be paid because they lost their job and needed a few months breathing space. Usually, something small like that will result in a default listing on their credit history. Then the banks don’t want to know about your applications for bad credit loans. Mind you, if you only want to borrow a small amount like $400, they may not want your business anyway.

Did the big banks knock you back?

The banks make it impossible for you to deal with them if you have what they perceive to be a ‘bad’ credit file. You’d think they would be able to help small bad credit loans applicants start repairing their credit file by taking out loans of $2,000 or less, but they don’t. That’s where Nifty Loans comes in!

The stigma around small amount lenders is all about their charges. The perception is that the interest or fees charged are ludicrous, and for some, they may well be. What the bad press around bad credit loans fails to pick up is that loans can be structured to give you breathing room when making your repayments. You’re also welcome to pay off your loan early at no extra cost. Well, this is true for Nifty Loans, anyway.

What will short term bad credit loans cost you?

The small amount personal credit industry is still alive despite what the newspapers say, and it’s helping Aussies like you and I every day. Contrary to what you may have read, the short-term lending space is actually highly regulated by ASIC.

The National Consumer Credit Protection Act limits the fees that can be charged on a cash advance loan (20% establishment fee and 4% monthly fee thereafter). If you borrow $100 from a small amount lender and pay it back within a month, the maximum you can be charged is $24 in fees. The nay-sayers work that out in percentage terms and compare it with a 30-year mortgage and then say the $24 is a rip-off.

At Nifty Loans, applications are assessed on merit. When it comes to processing loans, we use automated computer analysis to make sure we don’t miss a thing. Coupling these ‘smarts’ with a human element is what gives us an edge. We won’t simply decline an application from someone with a default listing on their credit history. We’ll look a bit deeper into your circumstances. We’ll understand that a small telco or utility default does not automatically mean you are a poor credit risk. To us, these aren’t bad credit loans at all. Of course, that does not mean we will approve any and all loan applications we receive! It just means we are not judging you adversely based purely on your credit history.

The whole point of small amount loans is to act as your financial safety net if a sudden expense catches you short. To get a better idea of how much our personal loans cost, just head to our homepage to use our personal loan calculator.

Can I get a bad credit personal loan on Centrelink?

If you ask any Aussie about Centrelinkers, they’ll no doubt have an opinion and perception of what a Centrelinker is- some good, some bad. Seemingly, Centrelinkers who really live on the breadline and are not able to save for those rainy-day occurrences. Think of those unexpected bills. The banks, Government bodies, and opinion-makers say that if you cannot save up for the unanticipated, then there is something wrong with you. They may suggest not giving you a loan because you are not deserving. Nifty Loans says you deserve to be treated with respect and dignity like everyone else in society. That’s why, even if the majority of your income is received from Centrelink, we’ll give you a fair go.

The fact is that 16.9% of Australia’s population is partially or fully excluded from obtaining credit through a ‘traditional’ lender. It’s fair to say that if consumer watchdogs spent more time focusing on the bigger lenders they too would cop more negativity in the public eye.

It’s time the black marks hung on the necks of small amount lenders be removed and brownie points given where they’re due.

If you need a loan for a small amount, we finance Bad Credit Personal Loans. With affordable repayments structured over a tailor-made term, we are here for you. Nifty values your situation.

How do you know if you have a bad credit rating?

Before you consider applying for bad credit personal loans, it’s worth checking that your credit score is, in fact, bad.

If you’ve noticed an increase in calls from debt agencies, been unpaid, received more official notices, overdue bills or credit card defaults, then you could have a bad credit rating.

If you’re still not sure if you have a bad credit rating, it is best to find out through an official service like:

Equifax, Canstar, Creditsavvy, Get Credit Score

What is a bad credit loan?

Bad credit loans are as simple as their name; small to medium sized personal loans for those with bad credit. When you’re faced with an unexpected bill, emergency expense or unforeseen cash flow problem, bad credit is the last thing you need to deal with. Whilst we do credit checks, we are able to look at your current relationship with money, too. If you see a lender offering no credit check loans, make sure you check that they’re a responsible lender and have your best interests in mind.

What are the causes of bad credit?

There are a few things that can contribute to a bad credit rating. If you suspect that you may have a bad credit score, see if you can find the source of the default listed on your rating. Once you’ve figured it out you can work towards paying it off and improving your score.

Making late payments or paying nothing at all will be recorded. Things like credit cards, utility bills, store accounts and other loans count here.

Showing that you have no intention of paying your balances is a serious offense. It’s always a good idea, to be honest with your creditors. In some circumstances, you’ll be able to make a payment plan or arrangement with them. While an unpaid judgment is worse than a paid one, a paid judgment is still bad as you would have been forced to pay your debt by a court.

Filing for bankruptcy or foreclosure is perhaps the most damaging to any credit score. Although they’re often the last resort for people in financial turmoil, they do stay on your record for a long time.

It’s good to know that you can still get small loans with bad credit. Just make sure you meet the minimum requirements and, even if it’s personal loans for those on Centrelink with bad credit that you’re after, you could get your cash loan quickly.

Make sure:

  • You are at least 18 years of age
  • Have an Australian Citizen or Permanent Resident
  • Must have a personal contact number

How can I borrow money with bad credit?

An unexpected answer to some, but a simple one, nonetheless. Cash loans for bad credit.

Small loans with bad credit are quick and painless to apply for! Fill in our application form you’ll find out in just one hour if you qualify for a bad credit personal loan. How? We’re able to take a more lenient approach and, whilst we do a credit check, we are able to look at your current relationship with money, too. As a responsible lender, we always do a proper assessment of your situation to make sure that you can comfortably afford to make your loan repayments. Ready to find out if you qualify for a bad credit loan? Scroll up and apply now!

How long does information stay on my credit report?

Ever wondered how long defaults stay on your record? You’ll want to work on around 6-7 years from the date of the first missed payment. In Australia, minor infringements stay on your record for around 5 years! Bankruptcies can stay on your record for around 10 years, with the accounts that were a part of the bankruptcy remaining on your record for about 7 years.

If you can provide evidence of having the defaults listed on your account as a mistake, or show that insufficient effort went into contacting you or sending your notices to you, you may be able to have defaults removed from our record.

It would be a good idea to work with a debt consolidation or credit repair firm to rectify your credit score.

How can I improve my credit score (fast)?

While you’ll likely be able to get small loans with bad credit, it’s a good idea to work on improving your credit score. Improving your credit score as soon as possible can allow you to apply for future loans easily. Bad times shouldn’t last forever, and neither should bad credit.

The first step is to know your credit score. There are several companies that can help you find out exactly what your score is and where you’ve defaulted.

Once you know where you’ve defaulted, see if you can find a way to catch up on your payments. You could come up with a payment plan with the creditor, or offer to pay it off slowly in a few payments. While defaults will stay on your credit history for a long time, it’s still better to have the word ‘paid’ next to them.

Make sure that, from here on out, you pay your bills on time. If you’re serious about fixing your credit rating, you’ll have to make sacrifices. Take a hard look at your current expenses and see what you can cut out. It’ll be hard, but so worth it in the long run.

Although it may sound contradictory, see if you can avoid closing credit card accounts. It’s important to have a long credit history so pay it up, and use it sparingly. Funny that something that could be the root of the problem could be the answer to improving your score, isn’t it?

Unsecured personal loans bad credit instant decision – what’s this all about?

While there is no guaranteed approval on every bad credit loan application, we’re all about giving you the fair shot you need. There’s no cost for applying, and no obligation to accept the loan. It’ll take just 60 minutes for us to review your application and provide an answer during business hours. For bad credit cash loans, we will do a credit check, but we’ll look at your current relationship with money, too. If your past really is in the past, you should be all good. Don’t believe us? Apply now and you could get your bad credit loan in your account on the same day.

how it works.

small personal loans.

  • Loan amounts: $300 – $2,000
  • Terms: 3 months – 6 months
  • Costs: Up to 20% Establishment Fee is charged upfront plus a monthly fee of up to 4%.

Example

Loan amount of $500 over 10 weeks repayable weekly $500 (Principle Amount)+ $100 (20% Establishment Fee) + $60 (fees based on 4% per month over 10 weeks) = $660 total repayable in 10 weekly instalments of $66.

medium personal loans.

  • Loan amounts: $2,001 – $4,600
  • Terms: 13 months – 24 months
  • Costs: Up to $400 Establishment Fee is charged upfront. Annual Percentage Rate (APR): $47.6158% with a comparison rate of 65.6597% p.a.

Example

Loan amount of $500 over 10 weeks repayable weekly $500 (Principle Amount)+ $100 (20% Establishment Fee) + $60 (fees based on 4% per month over 10 weeks) = $660 total repayable in 10 weekly instalments of $66.

don’t believe us?

Here’s what our customers have to say!

Bad Credit Loans Overall rating: 4.8 out of 5 based on 20 reviews.

Always great service from nifty, hassle free, quick, highly recommend it to my friends. Keep up the customer service guys

Deb L

5.0
2018-02-09T15:04:43+00:00

Deb L

Always great service from nifty, hassle free, quick, highly recommend it to my friends. Keep up the customer service guys
Nifty is the Best! They give you a fair go regardless of previous mistakes. Always gives you reminders of when repayments are due.

Jeff

5.0
2018-02-09T15:05:14+00:00

Jeff

Nifty is the Best! They give you a fair go regardless of previous mistakes. Always gives you reminders of when repayments are due.
Excellent people at Nifty happy to help out a single mum in need. Thanks Nifty For helping my little family though a small hurdle.

Tanya

5.0
2018-02-12T07:38:56+00:00

Tanya

Excellent people at Nifty happy to help out a single mum in need. Thanks Nifty For helping my little family though a small hurdle.
I had at a very tough stage with both my car registrations coming as well as a few other bills were all piling up. So I needed a quick fix.

Kylie

4.0
2018-02-13T11:28:18+00:00

Kylie

I had at a very tough stage with both my car registrations coming as well as a few other bills were all piling up. So I needed a quick fix.
Quick and easy to apply. Fast and efficient getting your loan . No hidden fees and a happy family to take on holidays

Ado F

4.0
2018-02-13T11:28:45+00:00

Ado F

Quick and easy to apply. Fast and efficient getting your loan . No hidden fees and a happy family to take on holidays
4.0
5

How customers rate Nifty’s Bad Credit Loans

plf Overall rating: 4.3 out of 5 based on 56 reviews.

Bad credit loan

★★★★★
5 5 1
I would recemond this company because they give everybody a go which is good would deal with Nifty Loans again.

The best bad credit personal loan lender

★★★★★
5 5 1
So far so good would recommend nifty to family and friends have no problems so far.

5 stars

★★★★☆
4 5 1
I would recommend nifty to all my friends and family good customer service I would get another loan in the future thanks nifty

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Bad Credit Loans