Bad Credit Loans Australia
Defaults? Bankruptcy? Low credit score? Been knocked back by banks? We get it. Life happens. At Your Lending Friend, bad credit loans aren't a sideline - they're our specialty.
Your past doesn't define your future. We've helped thousands of Australians with imperfect credit find finance options.
Having bad credit can feel like a financial prison. Banks say no. Online applications get rejected before a human even looks at them. It's demoralising, especially when you're trying to get back on your feet.
But here's what the banks won't tell you: there's a whole world of specialist lenders who exist specifically to help people in your situation. They understand that a default from three years ago doesn't mean you can't afford repayments today. They look at your current income, your expenses, your employment - the full picture.
At Your Lending Friend, we connect you with these lenders. Our brokers have deep expertise in bad credit lending. We know which lenders suit which situations, and we'll work hard to find you the best possible outcome.
Who Can We Help?
We specialise in finding solutions for people in challenging credit situations
Bad Credit Loan Options
Find the right loan for your situation
Bad Credit Car Loans
Need a car to get to work? We'll find a lender who can help, even with defaults on your file.
Bad Credit Personal Loans
Consolidate debt, cover emergencies, or fund major purchases - even with imperfect credit.
Car Loans with Defaults
Paid or unpaid defaults? We have specific options for both situations.
Loans After Bankruptcy
Discharged from bankruptcy and need to rebuild? We specialise in second-chance lending.
Declined by Banks
Just been knocked back? Tell us about your situation and we'll explore alternatives.
Understanding Your Credit File
Your credit file contains information about your credit history, including enquiries, accounts, repayment history, defaults, court judgments, and insolvency records.
How Long Things Stay on Your File
| Event | Duration |
|---|---|
| Credit enquiries | 5 years |
| Defaults | 5 years from listing |
| Serious credit infringements | 7 years |
| Court judgments | 5 years |
| Bankruptcy | 5 years from discharge or 7 years from start |
| Part IX debt agreement | 5 years or until completion |
What Specialist Lenders Consider
Unlike banks, specialist bad credit lenders look at the full picture, not just a single score.
They focus on:
They're less focused on:
We Understand Life Doesn't Always Go to Plan
A relationship breakdown. Unexpected medical bills. A business that didn't work out. We've helped thousands of Australians who've been through tough times find finance options. No judgement - just solutions.
Your past doesn't define your future.
Bad Credit Loans FAQs
Common questions about getting finance with bad credit
Generally, a credit score below 500-550 is considered poor, though different lenders use different thresholds. Bad credit can also mean having defaults, judgments, or bankruptcy on your file - regardless of your numerical score.
Yes, though your options will be more limited than with paid...
Yes, though your options will be more limited than with paid defaults. Some specialist lenders will consider applications with unpaid defaults, particularly if they're older or you have a good explanation.
Interest rates for bad credit loans are typically 5-15% high...
Interest rates for bad credit loans are typically 5-15% higher than standard loans. However, as you make consistent repayments and your credit improves, you may be able to refinance to a better rate in 12-24 months.
Defaults stay on your credit file for 5 years from the date ...
Defaults stay on your credit file for 5 years from the date they were listed, regardless of whether you pay them off. However, a paid default looks better to lenders than an unpaid one.
It's very difficult to get credit while bankrupt. You'll gen...
It's very difficult to get credit while bankrupt. You'll generally need to wait until you're discharged (usually 3 years from filing). Once discharged, we can help - though waiting 12+ months post-discharge improves your options.
If you can wait, paying off small defaults and building a po...
If you can wait, paying off small defaults and building a positive payment history will improve your options. But if you need finance now (like a car to get to work), don't let perfect be the enemy of good - apply and improve as you go.
Still have questions? Contact our friendly team