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Bad Credit Loans

  • Find and compare multiple bad credit finance options including; loans, subsidies, benefits & more.
  • Understand the qualification process see what lenders look for.
  • Get genuine money assistance options if qualifying for a loan is not a possibility.

Do you have a poor credit history? Are you finding it hard to get approved?

Finding a genuine lender when on a low income with bad credit can be difficult. Getting approved for the great rates advertised by the banks will virtually be impossible and continuously applying for them can further impact your credit score.

Options for bad credit applicants are limited but there are a few borrowing opportunities available. One thing you must come to terms with is that if you have bad credit, you have little to negotiate with; you are primarily limited to accepting the terms of the lender. This can be costly and agreeing to unfavourable terms may put you in a worst position.

Many Australians with bad credit believe that payday loans are the only choice available for those who need quick cash. They tend to have looser approval criteria than the banks although are an expensive way of getting cash. They typically have high admin and weekly fees in addition to even higher late fees should you miss a repayment. If you don’t have the means to service this type of loan, you can quickly add to the negative aspects of your credit score and be further out of pocket.

Some alternative funding options for emergencies or house hold living needs include government, non-profit and community based initiatives. These services are specifically designed for low income earners and provide financial assistance that cover most needs.

Quick view – See loan and benefit options for specific circumstances here.

Below are multiple loan and money assistance programs for Bad Credit issues

Specialist Lender: – If your having troubles getting a small loan through the bank, a specialist lender may be a good option. They provide loans from $1000 to $5000 and generally have flexible approval criteria, even helping those with bad credit – Learn more and apply here.

Speckle Loans: This is a small short term loan with lending amounts from $200 – $2000 with a pay back period between 3 and 12 months. Those collecting Centrelink benefits can qualify however no more than 50% of your total income can be made up of benefits.

Advanced Payments – This is available to Centrelink recipients and is essentially what it states, an advance on your next benefits payment. With good budgeting, this can be a great alternative to borrowing money.

No Interest Loans Scheme – Similar to the StepUp, this is a small loan between $800- $1200 but there is no interest paid on this loan. This loan needs to be used for the purchase of essential household goods.

Be careful and question short-term loan providers that try to sell benefits of bad credit loans as being positive. Be mindful of lines such as:

– Credit repair or fix bad credit
– Establish a credit score
– Easy and fast approval
– Instant fund transfer
– Flexible repayment terms

Whilst it may seem like these loans are simple and hassle free, there are serious consequences to them should you have issues with the repayments – these are never highlighted. If you are in need of a loan to cover everyday living bills, talking to a free financial counselor would be highly recommended.

This Post Has 34 Comments

  1. I need help. need a loan for 500.00 as I am I diabetic and I need medication and no seam to want to help me with this amount. I have no medicare card and it is costing me a arm and a leg for table I need plus with my blood pressure tables. so can you be able to help me out with this small amount. thanks Sharon may smith

    1. Hi Sharon, A one off loan may only be a short term fix to your ongoing medical condition and you may start to accumulate serious debt if you take out loans to pay for medication and other medical bills. Try contacting your local free financial counsellor as they can provide you with detailed information on grants and benefits you may qualify for…which can help with medical costs ongoing. They should also be able to help you with any other financial circumstances you may need help with. Learn more here

  2. Hi i have bad credit and am needing to consolidate my debts i was looking to maybe get a loan for just under the $3000 mark and im currently on a centrelink payment could you please recommend someone to me that i could contact please i would be very grateful as im inexperienced and im worried ill go to the wrong company and be taken advantage of of them not having my best interest, thankyou, Mitch.

    1. Hi Mitch,

      You are right to be wary of getting put into a toxic loan. If you are solely on Centrelink you options may be very limited in where you can borrow. One potentially strong option is that of StepUp through the GoodShepardMicroFinance another possibility is Peer to Peer financing. Whatever you do, make sure that the interest rate is much lower than what you currently have and there are little to no fees involved.


  3. good morning ,

    I am looking for a loan on just 400 to get to my mum funeral on the weekend. I am have been working for 2 months now on a contract base salary which I don’t mind that much but it has its days .
    It there there any way you can help me .

    1. Hi Rebecca,

      If you are currently collecting any Centrelink benefits in addition to your part-time work, you may qualify for a Advanced Payment through Centrelink. Other options may include StepUp or Nils which are to low or no interest loans provided by


  4. Hello,

    I have got two defaults each around $5000, and i am currently self employed (but have only been for 2.5months) and i need a car as mine has now stopped working. I am currently renting one for $200 a week – I would much prefer to use this money to pay off a car, but cannot seem to get a loan?

    1. Hi Teagan,

      Try reaching out to as they provide 2 loans which may be ideal for you.


  5. hi there my name is shane i am very stressed seen today i found my entire bank account garnished by the sdro i ring then and found out they were sending letters to the wrong address … so in total they took all my money 2000 .. i said to then i have no way of paying rent or food petrol so on and im not on center link cause i changing from one job to another so i am not currently working and they money was going to see me through till i started a new job …

    question i there anyone or any organisation that can help me ..

  6. Hi i am a single mum on patenting payment single an also recieve the family tax benifit i currently am ttying 2 save 2 b a hyundi getz off a family member as i need it 4 my daughter an it will b easy 4 getting 2 an from wrk plus a lil extra money will help as at the moment as i recieve very minimum money off the father an living exspences r tight as we r living from pay 2 pay so if some1 could let me know who can help me asap that would gr8 Happy Regards

  7. I applied for the StepUp loan but was refused as I had taken out Centrelink advances previously, I was told that it went against me because I had used the advances, even though it had been a year since it had been paid back.

  8. I am employed but had multple enquiries in short period and had paid loan in full amount but still decline and I need for an emergency travel to visit my family overseas for three weeks

  9. i would like a loan of 3000 to help pay a ph and internet bill i need internet for my kids and i need to pay a payday loan i carnt aford at there innterest rate

  10. Hi my name is Tam I urgently need to borrow $2000 for I am starting a course and need to buy a laptop have money for internet and a books I have been on centrelink for 3 months now and need the money so I can then study

  11. I need a small loan to move out of the house I currently am living in. It is the house my partner and two children now live in whilst I live in the garage outside. I have recently applied to centrelink for separated under one roof but that will only increase my pay by roughly 60 extra dollars and has yet to be approved and considering I need to ask to use the inside amenities it makes life very difficult. I would also need extra income to get a cheap vehicle so that if I was to receive work in an area not easily accessible by public transport it wouldn’t be a problem to get to said employment. I have only been on centrelink for 3 payments, so 6 weeks and maybe the 3 weeks prior if they count that from the time you first tried to get on centrelink. I had a workplace accident 3 years ago and haven’t worked since that time but I used my compensation payout to live during the last year and now I have outstanding debts and would have a very bad credit history. So I would need any help you could give in this regard. Thank you.

  12. hello my name is jucinta i was wondering is there any loan places that could help me out with my bond i only need 600 i currently am on parenting payment single and family tax bennifit but i have bad credit from when i was young through optus does anyone know off a place ??

  13. Hi looking for a loan around $6,000 to pay a fine,get a new fridge and pay bills,im aboriginal,on Disablity pension

  14. What options could be available to a government benefit recipient,with 3 dependants and with bad credit looking to relocate to a better support system interstate?

  15. […] borrowers, especially those with a low income, know very little about different bad credit loans and advances provided by different bank, government and non-profit partnerships. Whilst these loans may be for […]

  16. […] borrowers, especially those with a low income, know very little about different bad credit loans and advances provided by different bank, government and non-profit partnerships. Whilst these loans may be for […]

  17. I find hard to get a loan because of bad credit but if I can find the right people to consider giving me a loan would be great.

    1. Sorry my e-mail was wrong but as I said I can’t get a loan because of bad credit but if I can find the right people to consider giving me a loan would be great.

  18. I am a full-time student and have recently finished my seasonal work – I will have about two months where I will rely solely on Centrelink. I also have a credit card debt of $6000 that needs to be settled before they list as default. I really want to try to pay this off all at once then repay at a low rate until I have better income again. I realise being low income does not make me eligible for consolidation loans from major banks…. and advice?

  19. I urgently need a 2.5K loan over 18 months. I can now easily repay double ($277 pmonth) but have had far too many credit inquiries in a short period a couple of months ago so lenders decline me. I have also, during a difficult period, made late payments on loans. I have no defaults listed. I am employed FT & can make these payments. Please help.

  20. Need help with my high interest Lombard account. I am in arrears and it is going to a debt collector soon if I can’t pay

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