Bad credit personal loans guaranteed approval? Apply with Good People Bad Credit instead!
Bad credit personal loans guaranteed approval seem like an attractive prospect, but they are just scams hidden behind flashy titles. It’s better to apply for affordable bad credit loans up to $15,000. There are different fees depending on the loan amount, with repayment periods up to 36 months.
Is your credit rating bad? Do you need a way to get a loan fast to cover an unexpected expense? Have you been turned down by traditional lenders in the past? If so, you might be tempted by the proposition of bad credit personal loans guaranteed approval. However, bad credit personal loans guaranteed approval are a promise that can’t be delivered on. Keep reading to find out more about why bad credit personal loans guaranteed approval aren’t possible, and what finance options are out there for people with bad credit.
What are bad credit personal loans guaranteed approval?
While it is possible to access personal loans for bad credit, bad credit loans guaranteed approval are not possible. This is because no legitimate lender should guarantee approval. If you see a lender that promises bad credit personal loans guaranteed approval, it’s probably best to steer clear.
There are plenty of online lenders that can offer legitimate cash loans. They’re not quite instant, and they don’t guarantee approval, but they are still fast and easy to apply for. Moreover, if you are approved for a loan by one of these online lenders, they will detail all costs in your loan contract, so you won’t be caught out by hidden fees.
If you’re looking for a loan but feel a bit intimidated by the prospect of going through the lending market alone, don’t worry. We’re here to help you out! Don’t risk getting caught up in the hype surrounding bad credit personal loans guaranteed approval.
What is Good People Bad Credit?
We are a lender-finding service. Basically, we can make the potentially stressful, confusing and time-consuming process of finding a lender a whole lot easier. If you’re looking for a quick loan on your own, it could take hours for you to find a lender. This would involve scrolling through pages upon pages of results for online lenders, comparing their terms and submitting applications. Jeez, that sound tiring (and boring) just reading it, right?
Good People Bad Credit can streamline that whole process. All you have to do is submit one quick application with us and your work is done. You can then go about your day as we try to find a lender for you. Our lender-finding process can really help you out when you’re in a tight spot and allows you to avoid the hollow promises of bad credit personal loans guaranteed approval.
How do I apply with Good People Bad Credit?
If you’re wanting to find lenders offering bad credit loans, you’ve come to the right place. Good People Bad Credit can help with that! Applying with us takes just a few simple steps, which we’ll take you through right now.
Check if you qualify
Before you can apply with our lender-finding service, there are a few basic requirements that you have to meet.
- Be at least 18 years of age;
- Be an Australian citizen or permanent resident;
- Have been receiving a consistent income into a personal bank account for at least the past 90 days;
- Have a direct contact phone number and email address.
We can also consider Centrelink payments as income, as long as they are consistent and reliable. That’s what allows us to find lenders offering loans for Centrelink customers!
Fill out an application form
Scroll up to the top of any page on our website and you’ll see the apply now button. Click that and get cracking on your application! It can take just a few minutes to complete, so you won’t have to spend hours sitting at the computer. Our website is even mobile compatible, so you can apply while you’re out and about! Once you’ve got everything in order, hit submit!
Wait for an outcome
Keep your phone or laptop close by as we go about looking for a lender! We know people don’t like to be kept waiting, so we always aim to deliver fast outcomes. If we find a lender for you, we can refer you to them promptly. At that point, we’ll get back to lender-finding and your lender will be in touch.
What do personal loans cost?
Good People Bad Credit are lender-finders, not actual lenders. As such, we cannot guarantee what your fees and costs are going to be. Your exact terms will depend on your lender and your loan amount. However, here’s an estimate of the sorts costs that you can expect:
Small Amount Credit Contracts:
Small loans are for amounts between $1,000 and $2,000. These types of loans are unsecured. You can expect a loan of this type to look something like this:
- A maximum 20% establishment fee;
- A maximum 4% monthly fee;
- Can be repaid over a period of up to 6 months;
- Dishonour fee if you miss a repayment.
Medium Amount Credit Contracts:
If you’re after an amount between $2,001 and $4,600, you’ll be looking at a medium loan. These are secured loans, so you will have to include a vehicle as security. This could be a car, motorbike, boat or caravan. Expect fees somewhere in the region of the following:
- An establishment fee of $400;
- Interest Rate (APR) of 48%*;
- Can be repaid over a period of between 13 and 24 months;
- Dishonour fee if you miss a repayment.
*Comparison rate of 67.41% P.A.; this comparison rate is based on a medium amount secured loan and may not include all fees and charges. Different fees, terms or other loan amounts may result in a different comparison amount.
Large Amount Credit Contracts:
If you’re looking for an even larger amount, Good People Bad Credit can find lenders offering loans from $5,000 to $15,000! Again these are secured loans, so you will need to put up some form of security. Expect fees to look something like the following:
- An interest rate of 21.24%* per annum. Keep in mind that the more you pay off the principal amount of your loan, the less interest will be charged. This is called reducing interest.
- Can be repaid over a period of between 13 and 36 months.
Comparison rate of 48% P.A.; this comparison rate is based on a large amount secured loan and may not include all fees and charges. Different fees, terms or other loan amounts may result in a different comparison amount.
We aim to find lenders for as many customers as possible. However, if we find a lender that approves your application, the final decision is yours. Make sure that you thoroughly read through your loan contract prior to signing so that you know what you’re agreeing to. Furthermore, if you choose to reject your loan contract, you can do so prior to signing your contract for no extra charge.
If you want to know more about personal loan costs, check out the Money Smart personal loan calculator.
Steer clear of bad credit loans guaranteed approval – apply with us!
Hopefully you now know why bad credit loans guaranteed approval are too good to be true. However, this doesn’t have to be the end of your loan journey. Good People Bad Credit can find lenders offering bad credit loans! Unlike with traditional lenders, we can find online lenders who won’t turn you away just for having bad credit. Because we and our partner lenders believe that your credit score doesn’t tell the full story!
Want to know more about what we do? In addition to the how it works page, we also have a section regarding costs and FAQs. Not only that, but you can also contact us directly if you have a specific question.
You don’t have to go through the process of finding a lender alone. Apply with Good People Bad Credit today!