If you have a history of paying bills late or have accrued a pile of debts, your credit score will probably be lower than you would like it to be. A history of poor credit can be an obstacle when it comes to gaining a lender’s confidence and you may assume a loan is out of your grasp – but…
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
For information about other options for managing bills and debts, talk to 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
If you are on government benefits, ask if you can receive an advance from Centrelink – website: https://www.servicesaustralia.gov.au/individuals
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
