Bad credit loans in Australia, assessed fast and fairly

A bad credit loan is a loan for someone with credit issues, such as defaults, missed payments, court judgements, a debt agreement or a past bankruptcy. At Ume Loans it's a secured loan from $5,000 to $50,000 for a car, caravan, camper trailer, boat, jet ski or motorbike, or against a car you own. Ume Loans assesses your income and what you can afford as well as your credit history.

Yes, you can apply. Ume Loans considers very bad credit, including several defaults, court judgements, a Part 9 debt agreement or a past bankruptcy. We look at your income and what you can afford today as well as your credit history. You do need to be working, and your bank statements need to show you can afford the repayments. Our guide explains whether a bad credit loan is right for you.

You can borrow $5,000 to $50,000 over 1 to 7 years, secured by the vehicle or asset. Ume Loans charges no upfront costs and no early payout fees, and offers options for weekly, fortnightly or monthly payments that align with your income. Your repayments are reported to Equifax, so paying on time may help you rebuild your credit rating.

Ume Loans may not be the right lender if you need less than $5,000, want a payday (SACC) loan, aren't working, or your only income is Centrelink. Being currently bankrupt, or holding a visa that doesn't meet our conditions, can also rule us out. Ume Loans doesn't offer guaranteed approval, no credit check or home loans. If you're unsure, call us on 07 5443 3863 before you apply.

No. A lender can't honestly promise approval before it has assessed you, and every Ume application is assessed on your income and what you can afford. Starting an application won't affect your credit score, and credit issues alone don't rule you out.

Starting an application doesn't affect your credit score. Ume Loans will protect your credit file by only completing credit checks when it's likely we can get you approved. Please hold off applying with other lenders while we assess your application, because multiple applications can lower your credit rating.

Not automatically. Ume Loans asks what happened and what has changed since, and assesses your application on your income and what you can afford today. A Lending Specialist will talk it through with you.

Yes, you can apply. After bankruptcy, Ume Loans considers applications from the day after your discharge. With a Part 9 debt agreement, you need to be at least halfway through it and to have paid well.

Apply as normal. Having little or no credit history doesn't stop you applying, because Ume Loans assesses your income, your spending and what you can afford today. Share your last 3 months of bank statements and a Lending Specialist will talk through your options.

There's no set minimum credit score for our car loans. For a low doc car loan, the minimum comprehensive credit score is 300. Ume Loans looks at your income, your expenses and your ability to repay as well as your credit history, so a low score, even around 400, doesn't automatically rule you out.

Yes, you can apply. Casual workers need at least 3 months in their current job. Others are considered case by case. Ume Loans looks at your bank statements to see that your income covers the repayments.

Yes. In most cases Ume Loans verifies your income from your last 3 months of bank statements, so you don't need tax returns. If you don't have full financials, our low doc car loans are built for self-employed borrowers.

Your rate depends on your credit history, how you manage your current commitments, the vehicle or asset and the loan term. Your Lending Specialist will explain why your rate is what it is before you decide. Rates on bad credit loans are usually higher than a bank's, because Ume Loans lends to people a bank has turned down. There are no upfront costs, and any fees are included in your loan and disclosed before you proceed.

No. Ume Loans charges no early payout fees. You can make extra repayments or pay your loan off early with no extra or hidden fees, and keep the savings.

Many applications are pre-approved within hours, some may need further review. It depends on how quickly we receive your information. The more responsive you are, the faster we can get you approved. Once you've signed, funds can be paid the same day. If you apply after hours, you can still complete your application and bank statements straight away, so we can get started the following business day.

To get a loan with bad credit, apply online with Ume Loans in about 2 minutes, then share your last 3 months of bank statements through our secure link. A Lending Specialist will call to talk through your options. If you apply after hours, you can still complete your application and bank statements straight away, so we can get started the following business day.

A secured loan uses something of value as security. At Ume Loans, that's the car, caravan, camper trailer, boat, jet ski or motorbike you're buying, or a car you own for a personal loan. Because the loan is secured, Ume Loans can look past your credit score to what you can afford. If repayments aren't maintained, the asset can be repossessed and sold to help cover the loan.

Ume Loans offers bad credit loans for cars, caravans, camper trailers, boats, jet skis and motorbikes, plus low doc car loans for self-employed borrowers and secured business car loans. A secured personal loan against a car you own can cover repairs, weddings, accessories, home renovations and travel. Ume Loans doesn't fund debt consolidation, tax debt or home loans.

A second chance loan is for people who've been turned down elsewhere because of their credit history. That's who Ume Loans lends to. We assess your income and what you can afford, and a Lending Specialist talks with you before we decide. Our guide to second chance loans has more detail.

It's a not now, not a no. If we can't approve your application today, we'll explain why and how we can work towards a future approval. See our 5 steps to improve your chances of getting a loan. You can also call us on 07 5443 3863, Monday to Friday, 8:30am to 5pm.

Yes. Ume Loans offers bad credit loans across Australia, in every state and territory, and you can apply online from anywhere in the country. You need to be an Australian citizen, a permanent resident or a visa holder. Temporary visa holders need at least 2 years remaining, working rights and a deposit.