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Bad Credit Loans

Bad Credit Loans in NZ

Knowing you have bad credit can feel like a big weight around your neck, because it usually rules out access to traditional sources of borrowing such as bank loans or credit cards. When you need a fast cash injection, your track record of paying bills, using and repaying credit and even where you live can seriously impact your options.

Bad credit loans have recently been touted as an alternative source of short term cash for people with bad credit. Some lenders of payday loans even advertise their service on that basis – but does that make them a good alternative over traditional lenders?

Bad Credit Loans from Cash Relief

Bad credit loans are usually small sums of money that are borrowed until your next payday. Here at Cash Relief, the size and length of the loan will be quite rigid at first.  However, if you develop a good credit history with us and ensure that your repayments are made on time, we will allow your credit limit to be increased. We can also provide a credit reference for you to use in future applications to other lenders. For example if you’re struggling to get finance on a car due to your past bad credit history and you’ve developed a good repayment history with us, we can provide a letter to support your application

Critics of short term cash advances and bad credit loans argue that if you have bad credit you shouldn’t be borrowing money in the first place, and certainly not paying for credit such as payday loans. The reality is, however, that we live in a credit-based society and even the best laid plans sometimes don’t allow for unexpected expenses or a bad run of important bills. At Cash Relief, we understand that people can find themselves in financial difficulty because of sickness, losing their job, family expenses, and many other factors. If you do have significant black marks on your credit record then the chances are that cheap loans won’t be available to you. With a Cash Relief loan you know exactly what the charges will be before you apply and there are no hidden costs.

Bad credit vs bad debt

It’s important to understand the difference between bad credit and bad debt. Bad credit means payments have been missed on previous loans, and in extreme cases no payments have been made at all. Bad debt, on the other hand, means having too many financial commitments, so that the amount of money you have to pay back each week leaves you with barely enough to live on. If the latter sounds like you, a short term payday loan is probably not the best solution and you really need to concentrate on repaying some your other debt.

If you’ve had credit problems in the past and have a bad credit history we may still be able to help you with a loan for bad credit. But remember, our relationship is based on trust so if you want to improve your credit rating, you must fulfil your obligations too.

How is Cash Relief different?

Unlike a bank loan, Cash Relief doesn’t try to predict your reliability over several years. We can provide bad credit loans fast, online and with no paperwork. We often start with lending a small amount and as your credit rating improves you can borrow more. If an issue arises with the repayments we’ll work with you to find a solution that will help all involved and avoid further damage to your credit history.

In summary, bad credit could influence your approval for a Cash Relief loan, but it certainly doesn’t rule it out. With flexible, short term loans of up to $600 available, the cost can be considerably lower than a loan from another provider.

Ultimately we’re here to help. We’ll assess your credit history with an open mind. We understand that from time to time people have financial struggles and unfortunately can come out of them with a bad credit history. Because we’re here to help, we’ll be much more forgiving than a bank or other lending institution. If we believe you have the ability to repay a loan within the timeframe, you’re likely to gain approval for bad credit loans.

As responsible lenders, we’ll work with you to determine repayment amounts you’ll be able to afford, ensuring that you are a responsible borrower. By using the loan repayment calculator you’ll know exactly how much each repayment will be and when it is due. There are absolutely no hidden costs when you take out a small cash loan from Cash Relief.


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