Believe It, You Can! Borrow Money Even With a Bad Credit
The common men, business hunks, celebrities or kingpins, one thing that's similar in all is – The Human Life. Whoever we are, rich or poor; wherever we live, on streets or in apartments, life does not always goes the smoothest way around. At some point, we may find ourselves under a pile of debts or in hardship to meet out the expenses and liabilities.
There are hurdles and there are challenges, someone just lose his job, someone is going through a divorce, someone suffered a disability while someone failed in the business and that's what life is all about. However, there are times when the rising costs of living in Australia could also be the reason that accrues past dues and bad debts.
Now enough of the soul-touching stories, let's get straight into the topic – To borrow money with bad credit.
It's clear now, if you bite off more than what you can chew, you will have a troublesome life. All your acts and incidents are recorded on a file, a report-card like document known as Credit File. Whenever you apply for a loan, the first thing banks and lenders will do to assess your credibility is your credit history check.
The Facts, the Findings!
Borrowing Even With a Bad Credit
There are ways to help you get an approval through Bad Credit Home Loans Australia. At Loans Direct, our bad credit home loan experts knows how to help you borrow money with a bad credit history.
Borrowing Capacity
If you have a default lesser than $500 and has been paid off more than a half year back, we can figure out some ways to help you borrow up to 95 per cent of property value. You may also have the option to borrow up to 80 per cent for defaults up to $3000, up to 90 per cent with a specialist lender or up to 100 per cent with a guarantor loan.
Interest Rate on Home Loan
Due to your bad credit history, the possibility to get approved and interest rates you'll be offered will be determined by your LVR (loan to value ratio). Such as -
Go Get It Even With a Black Mark
Talk to us and share your individual situation, we are there to help you manage your financial and funding matters, credit repair and can find Loans For Bad Credit History.
Think of it as the opportunity to prove that your bad credit history is now history. Now, you are in control to pay bills, rent and monthly repayments on time.
There are hurdles and there are challenges, someone just lose his job, someone is going through a divorce, someone suffered a disability while someone failed in the business and that's what life is all about. However, there are times when the rising costs of living in Australia could also be the reason that accrues past dues and bad debts.
Now enough of the soul-touching stories, let's get straight into the topic – To borrow money with bad credit.
It's clear now, if you bite off more than what you can chew, you will have a troublesome life. All your acts and incidents are recorded on a file, a report-card like document known as Credit File. Whenever you apply for a loan, the first thing banks and lenders will do to assess your credibility is your credit history check.
The Facts, the Findings!
- Approximately 14 per cent of people in Australia have a black mark or default on their credit file (as per Australian Retail Credit Association), however, only 10 per cent of Australians has ever seen those marks theirs (as per Dun and Bradstreet).
- Considering the importance of credit check in home loans in Australia, surprisingly, 6 out of 10 haven't even heard about credit reporting (as per Dun and Bradstreet).
Borrowing Even With a Bad Credit
There are ways to help you get an approval through Bad Credit Home Loans Australia. At Loans Direct, our bad credit home loan experts knows how to help you borrow money with a bad credit history.
Borrowing Capacity
If you have a default lesser than $500 and has been paid off more than a half year back, we can figure out some ways to help you borrow up to 95 per cent of property value. You may also have the option to borrow up to 80 per cent for defaults up to $3000, up to 90 per cent with a specialist lender or up to 100 per cent with a guarantor loan.
Interest Rate on Home Loan
Due to your bad credit history, the possibility to get approved and interest rates you'll be offered will be determined by your LVR (loan to value ratio). Such as -
- Less than 60% – negligible risk
- Between 60% and 80% – low risk
- 1% to 85% – medium risk
- 1% to 90% – medium high risk
- 1% to 95% – very high risk
- 95% + – extreme risk
Go Get It Even With a Black Mark
Talk to us and share your individual situation, we are there to help you manage your financial and funding matters, credit repair and can find Loans For Bad Credit History.
Think of it as the opportunity to prove that your bad credit history is now history. Now, you are in control to pay bills, rent and monthly repayments on time.
Source...