Looking for a guaranteed bad credit loan?
‘Can I get guaranteed approval of loans for bad credit applications on Centrelink?’ Perhaps, this is the first question that comes to your mind when you’re looking for bad credit loans on Centrelink. And the answer is YES, you can get bad credit loans on Centrelink however, approval is never guaranteed. Wondering how this is possible? Let Pocket cash fill you in.
Who is Pocket Cash
Let us introduce ourselves, we are Pocket Cash. We’re the lender-finder Aussies turn to, for help finding bad credit loans. You might be thinking ‘what’s a lender-finder.’ Well, put simply, we find lenders for 
applicants by matching their circumstances and preferences.
Guaranteed Approval Loans for Bad Credit Applications Centrelink
Unfortunately, we cannot guarantee approval for any lenders we find you. Pocket cash partners with lenders who commit to responsible lending practices which means they will conduct an assessment on every application they receive. However, Pocket Cash partners with lenders that can accept permanent Centrelink payments as a regular income. Since it is considered an income, you have a good chance to get a loan even if you have a poor credit history. However, Pocket Cash does not guarantee any loan approval, as we are not a lender.
Unlike traditional lenders, like banks and credit unions, Pocket Cash partners with lenders that can look past a poor credit score or the fact that you’re receiving Centrelink. There are many lenders associated with providing bad credit loans to anyone with a regular income. Their sole criteria for loan application approval is the borrower’s ability to repay the loan. They are open to considering Centrelink payments as your income and can tailor their loan products to your situation.
Can I get a loan on Centrelink?
Yes, it is possible to get loans on Centrelink. If you have a good credit score, it is a bonus to get quick loans. When the credit rating is poor, you still can seek bad credit loans on Centrelink. These government benefits are mostly viewed as regular income and therefore Centrelink recipients are considered eligible for personal loans . However, as we’ve previously mentioned we cannot guarantee approval on loans Centrelink recipients with bad credit. If we’re able to match you to a lender, they will most likely assess your application on your income, spending habits and ability to repay the loan.
How can I get a loan with bad credit on Centrelink?
If you have been receiving Centrelink payments for more than 90 days can apply for bad credit loans on Centrelink. Most lenders, however, won’t lend to people receiving temporary benefits like Newstart and Youth Allowance. Instead, lenders will most likely consider the following as regular income:
- Disability Support Pension
- Age Pension
- Farm Household Allowance
- Parenting Payment
Pocket Cash’s lender finding service offers a fast way to apply for bad credit loans Centrelink recipients can receive. The entire application process is 100% online meaning you can apply anytime, anywhere in just a few minutes. When you have a regular stream of income, whether it be from employment or from benefits, into your bank account, lenders will assess if you can comfortably afford the repayments.
What about guaranteed approval loans for bad credit applications Centrelink?
Be cautious of anyone offering guaranteed approval loans for bad credit applications Centrelink. If a lender is guaranteeing approval on a loan, they’re not doing their due diligence and, if you already have bad credit, you likely don’t want to be stuck with unsuitable loan terms that could result in your credit worsening when you cannot repay it on schedule. Rather, look for bad credit loan providers that do a thorough assessment before offering you a loan that suits your unique circumstances so you can pay it off and work towards improving your score over time.