Specialist Services for Bad Credit Personal Loans

Sourcing low credit score financing through Jade Finance can be extremely beneficial and advantageous to those with credit problems. For starters, our realistic view of life and no judgement attitude is greatly welcomed by our customers. Each customer is assigned their own broker to ensure a completely personalised service from highly experienced and skilled professionals to source the loan.

Our service includes matching each individual with the right lender from our 80+ lenders which include bad credit lenders. These specialist lenders differ from traditional lenders such as banks, as they typically have greater flexibility when it comes to eligibility requirements for loan approval. Non-bank lenders are not restricted to many of the guidelines that apply to banks.

Applicants must be over 18 years of age, have stable employment and income, provide identification, details of current financial position, assets and liabilities, and other documentation and details in line with ASIC Consumer Credit regulations.

As part of the application assessment process, we consider the individual’s current position and refer to the CCR for positive as well as the negative credit history entries. We advise how individuals may improve their eligibility for approval by reducing existing debt or the amount requested, advise on optimum loan structure for increased approval potential, and we negotiate with lenders to achieve a workable repayment schedule.

The reasons why an individual has poor credit can be extremely important and we encourage customers to be open and honest. We, and our lenders, need to establish a detailed overview of your individual circumstances in order to present the most suitable options.

As approved credit providers under ASIC, we adhere to Responsible Lending Guidelines and our brokers will only advise customers to move forward with offers where they are in a position to meet repayment commitments.

To find out if you meet our eligibility requirements, speak with one of our brokers.

• Match with flexible non-bank bad credit lenders.
• Over 80 lenders available.
• Expert, skilled brokers, personalised service.

Loans for individuals with poor credit scores can be either Secured or Unsecured. Interest rates are typically fixed with secured loans and may be variable or fixed with an unsecured product. Rates are offered by bad credit lenders after an individual assessment of each application. Due to the higher risk of poor credit score applicants, a higher rate than the best available rate would typically apply.

A higher rate results in higher repayments, which may pose a high risk to individuals with poor repayment histories. Your Jade broker will explain how reducing the loan amount required or requesting a longer term may deliver a more workable repayment schedule.

Borrowing limits for low credit personal loans are also assessed and these are established based on the individual’s profile as well as the amount and term requested. There are ways to increase borrowing capacity which your Jade Finance broker can explain to you.

When approved, bad credit personal loans may be used for a range of purposes including purchasing vehicles, vehicle repairs, medical expenses, holidays, special events such as weddings and other types of expenditure.

Achieving a workable low credit personal loan can be a lifeline for many individuals. Speak with us about how we may achieve this for you.

• Secured and Unsecured Low Credit Score Loans.
• Higher rates typically apply.
• Borrowing capacity individually assessed.

Many individuals may steer clear of applying for credit with a poor score thinking it is an impossibility or thinking the interest rates will be completely unworkable. But there can be benefits, especially with using Jade Finance and accessing our bad credit lenders for low credit score financing opportunities.

When approval is obtained, individuals have the opportunity to build a good payment history and improve their score over the term of the funding by meeting repayment commitments. But it is essential that the repayment schedule is realistically achievable.

Borrowers may consider reducing the credit amount required by paying a deposit. This may increase the chances of approval and deliver a more workable repayment schedule. With workable repayments, there may be an increased probability of meeting the schedule and improving credit history.

Where the borrower meets their repayment schedule and improves their score over the early part of the term, there may be an opportunity to refinance the remaining balance at a lower interest rate and lower repayments.

The risks with poor credit loans include facing higher interest rates which result in higher monthly repayments. Repayments which may be unworkable over the term. The borrower may default on the loan, have the goods repossessed and further worsen their score and future prospects of obtaining credit. Additional conditions and tougher penalties may also be applied to the loan.

Your Jade broker will be outlining both the risks and the benefits and be working to achieve the best loan offer and quick approval. Apply today to see what we may achieve to assist you.

• Quick approvals.
• Workable options possible.
• Opportunity to improve credit score.