Do you have a bad credit history? Our bad credit loan is designed for you.
Bad credit history can make getting a loan from a bank or other financial institution difficult. But a bad credit loan from PPL could help improve your credit profile, subject to our normal assessment criteria.
Bad credit means you have defaulted on loans in the past. A default usually refers to an outstanding bill left unpaid for more than 60 days.
A bad credit history can include one or more of these:
- Paid default
- Unpaid default
- Part XI Debt Agreement
- Current bankruptcy or ex-bankruptcy
- Too many enquiries by lenders on your credit profile can make a bad credit history worse. The major banks place strict limits on the number and frequency of recent credit enquiries.
You deserve a second chance. Everyone does. A small default should not ruin your entire credit record.
Loan only suitable for short-term needs. Not suitable for long-term or regular borrowing.
REPAYING YOUR LOAN
We set things up so you can make repayments in step with your pay cycle. We’ll match repayments with your capacity to repay. We’ll send you a repayment reminder before and on payday. On payday we’ll set up direct debits to your account.
If you think you can’t make a repayment on payday, contact our support team. Our job is to help you in advance to make your repayments predictable and painless. If a repayment is late, you may need to pay additional fees but we tell you about this upfront.
Remember: You can apply for another loan as soon as you pay off your current loan.
After we’ve helped you once, applying for another loan is fast and easy because your information is already on file. Simply re-apply online through our client portal or call us.
Over time, we’ll learn to trust each other and you’ll improve your credit history. And that means you’ll be able to borrow more money when you need it.
OUR SPECIALISED BAD CREDIT LOAN
We specialise in bad credit loans that will provide you with cash for any acceptable purpose. Our specialised bad credit loan does not consider a bad credit history as a limitation.
This type of loan caters for people whose credit history has unlimited defaults and arrears, yet the loan offers competitive interest rates for our industry. Normally with these limitations you will struggle to get finance in today’s market, but we offer you a solution.
Are these your circumstances?
- On WINZ Benefit
- Employed less than 3 months
- Self-employed but unable to unable to provide recent financial statements
- A bad credit history with mortgage arrears
- You live on a rural property
- Other circumstances preventing you from borrowing
You can regard our bad credit loan as the first step in succeeding again in dealing with a major bank or lending institution. At that point the interest rates may be even lower. This could happen within 6 months.
Take advantage of our experience.
Here are our fees:
- $24 account set-up fee (first-time clients only)
- $64 establishment fee
- 1% interest charged daily on balance outstanding
- Optional same-day deposit fee $12
- Change of payment fee $10
If you miss a scheduled payment by direct debit we need to charge you a $13 direct debit dishonour fee, unless you’ve made a prior arrangement with us.
If you contact us to make an alternative arrangement, there is a $10 change of payment fee. If you miss a payment we will try and contact you by phone, text and email.
Note: We don’t charge a default interest rate.
If your account remains in arrears after 60 days, we may refer you to an external debt collect and as a result you may incur additional fees. To complete our simple online application form, click Apply.
If you don’t want to apply online, please call us on 0483 034 87 to speak to one of our friendly staff. The sooner you contact us, the sooner we can help you.