Bad Credit Personal Loans | Urgent Loans For Bad Credit (2024)

• Why your credit score might be better than you think
• How to get an online loan if you have bad credit
• Getting a personal loan if you have bad credit
• Is it possible to get guaranteed approval with bad credit?
• How to get an urgent loan with bad credit
• Secured loans for those with bad credit

A credit score is a number that represents a person’s creditworthiness, based on their credit history. In New Zealand, anyone that has ever had credit of any kind – including things like hire purchases, car loans, a credit card, a power bill, or a mobile phone plan – will have a credit score.

This score is usually calculated by credit agencies using information from past financial transactions, such as loan repayments, credit card usage, bill payments and other forms of debt. A low credit score indicates that the person may have had difficulty repaying debts in the past or currently has a high level of debt relative to their income. This can make it challenging for them to access traditional forms of credit, such as personal loans or credit cards.

Having a bad credit score can significantly impact a person’s ability to obtain a loan. Lenders typically use credit scores as one of the key factors in determining an applicant’s creditworthiness. A low credit score may result in higher interest rates, stricter repayment terms, or even outright rejection of the loan application.

There are, however, lenders in New Zealand, like Loan Direct, who specialise in providing bad credit loans to people with less-than-perfect credit histories. These lenders understand that past financial difficulties do not necessarily reflect an individual’s current financial situation.

By assessing the borrower’s ability to repay the loan based on their current income and expenses, these lenders can offer more flexible terms and conditions compared to traditional lenders.

One thing many people don’t know about credit scores is that making a lot of loan applications in a short period of time can negatively impact your credit score. So, how can you shop around for a lender without affecting your credit score? This is where a loan broker like Loan Direct comes in.

We take your application and put it in front of 11 different lenders. We then get you the best deal from those lenders, all from that single application. This way your credit score is not affected by your applying for multiple loans. Learn more about getting a Bad Credit Loan

People searching for “loans for bad credit history” may think that because they’ve had trouble paying back a loan in the past their credit score is forever tarnished. The truth is, it is possible to rebuild your credit score by making loan repayments and bill payments on time.

Even if you have a less-than-perfect credit score, there may be positive aspects of your credit history that can help improve your chances of obtaining a loan. For example, if you have a strong payment history with certain creditors (companies you have credit with) or have successfully paid off previous loans, this can demonstrate to lenders that you are capable of managing debt responsibly.

Additionally, lenders may take into consideration other factors such as your income, employment stability, and overall financial situation when evaluating your loan application. If you can show that you have a steady income and are in a stable financial position, this can help offset a lower credit score.

At Loan Direct, having bad credit isn’t a dead end for us. With our loans, people with poor credit histories have the opportunity to access loans in a timely and affordable way. Our debt consolidation loans are one way we help people lower their loan repayments and reduce their financial pressure. Many people can borrow extra cash at the same time, subject to responsible lending checks naturally.

We specialise in providing personal loans for bad credit, as this gives our customers the opportunity to rebuild their credit score while improving their financial situation.

The best thing about using an online loan broker like Loan Direct is that everything is handled online. There’s no paperwork involved, meaning we can get approval faster, without all the hassle.

Our online loan process couldn’t be simpler: simply give us a few details using our 3-minute application form, and we’ll get back to you to discuss your needs. We then assess your application and find the best options for you, and within 1-2 hours we’ll contact you to choose the best offer. We can usually have the funds in your account the next business day.

There’s no such thing as a “guaranteed approval bad credit loan”, as lenders need to do checks to make sure their lending is responsible. However, Loan Direct finds positive solutions for most of our customers.

After you apply for a loan through us we work fast to find low-cost loans that work for you. We’ll take a look at your credit history and financial situation to see what you can afford, and then work to get you what you need without putting you under additional financial stress.

So, while we can’t guarantee approval, we can guarantee that we’ll do everything we can to try and help you.

Need money urgently but have a bad credit history? Loan Direct can help with that. Our loan consultants are highly experienced and look at your entire lending situation to try to find a better solution for you. If you have bad credit, it may take a little longer for us to find you a good deal, but there’s no lending situation we haven’t seen before.

Loan Direct is able to find ideal solutions for the majority of our customers, even those with bad credit. We’ve been doing this for years and have processed thousands of applications, so we know our stuff. What’s more we are Financial Advisors and associate members of the Financial Services Federation, so we are the right people to talk to if you have bad credit.