The assessment processes used by many NZ banks and finance companies can be overly restrictive to those tagged with a low credit rating score. This process often prevents many Kiwis with just one or two defaults on their credit record from gaining much-needed cash loans. We assess your credit score from a number of angles and can often lend to you despite a few hiccups in the past.
First and foremost we’ll be upfront about payday loans London what we’re offering. We’re sorry-this loans for bad credit offer isn’t for everyone. If you have a long history of defaults and debts unpaid you would be better off talking to a budget advisor (and there are a lot of great services available). However if you’ve only had one or two defaults and are now struggling to get a loan at a reasonable interest rate we may have exactly what you need.
Quite simply, we love being able to empower our customers. One of the best parts of our job is helping them achieve their financial goals and, in doing so, helping them leave a bad credit history behind.
If you think a bad credit loan will help you step forward we’re ready to guide you through. Our fast, easy online loan application means that, more often than not, you’ll receive confirmation of whether you have been approved on the very same day.
Our calculator quote provides a rough estimate only and is not to be considered an offer of finance. Our interest rates and fees are calculated in accordance with our credit and lending criteria based on your personal profile. We always conduct credit checks and review bank statements before approving a loan. The quote excludes any optional payment protection cover.
There may be additional charges if we have to inspect collateral or register a mortgage or caveat over land. We will always provide you with a quote before we prepare any loan documents.
Quick Loans bad credit loans start from $1, and can be confirmed within 24 hours (and often sooner)
- Interest rates from 9.95%
- No early settlement fee
- Minimum 6-month term
- 100% online application
- Fast response confirmation
- Flexible criteria
When to apply
Many Kiwis have had their credit rating negatively affected for reasons that should not prevent them from gaining a loan and financial support. Defaults in the past could have occurred due to random utilities bills and disputes or even things you may have forgotten about or incurred while living overseas or flatting. In other instances, a debt consolidation loan is ideal for tidying up a few outstanding loans and ensuring one easy payment at one consistent interest rate.
Applying for and paying off a loan is also a good way to boost your credit score. If you are sure you can pay back this debt it can significantly help in the future, as people with high credit scores are not placed in the same risk bracket by lenders and therefore can access better interest rates and less expensive rates. If any of the above circumstances sound like your situation an online bad credit loan application might be just what you need.
When not to apply
You’ll probably know if your bad credit is due to a couple of mistakes and setbacks in the past – or if it’s considerably more. A one-off event won’t generally affect your credit score too much. More than three and you’ll certainly struggle however. Even applying for a new credit score may negatively affect your current position.
If there’s an ongoing pattern of defaults and other issues we recommend talking to someone who can help with budgeting advice. For financial advice in New Zealand, there are dozens of organisations that can help you – and their services are free, confidential and non-judgemental.
Ready to apply?
In order to accurately assess your eligibility criteria, we will need to access your financial information. These are your responsibilities to ensure our lending process can run quickly and correctly. Here are the main points to consider:
- Your credit history must be assessed and deemed suitably positive enough to proceed. Yes, you’ll have a low credit number, but that’s not the end of the story as far as we’re concerned. Most importantly, we need to know you can (and will) pay back your loan.
- You must not have any current payday loans.
- You must provide bank statements for the last three months showing an acceptable level of financial stability and have a regular income or a benefit. We will not provide a bad credit loan if you are unemployed.
- You must have a current driver’s license or passport for ID purposes.