Cigno - bad credit

Ways To Solve Your Bad Credit Problem

January 2, 2019
, , Bad Credit Loans 1

When you have a bad credit history generally you are not qualified for a loan from banks or traditional lenders. Not many know, but there are bad credit loan alternatives available and they are very accessible. You’ll simply need to demonstrate that you can repay the loan by giving proof of a regular income, whether it comes from your employment or Centrelink.

What bad credit loans are like?

Bad credit loans are similar to standard personal loans, except for their fee and interest rate structure. Bad credit loans are more expensive because the companies run a higher risk of lending to those with bad credit histories. The good news is that these companies give everyone a fair chance to be considered for a loan.

Want to see if you qualify for bad credit loans? Get more information here.

Do I have bad credit?

If you have things such as bankruptcies on your credit file, you can assume that you have bad credit — The degrees of bad credit vary. Another way to see if you have bad credit is to have a look at your credit report and credit score.

Also be mindful of what can cause bad credit and try to avoid it, click here for more tips. Your credit score is also a good indication of your chance of approval. Consider a credit score that ranges between 0 and 1,000. If your credit score is 800-1000, it is excellent. If it’s 0-549, it is weak and below average. The lower your credit score, the more likely it is that you have bad credit.

Be careful with excessive credit applications in a short period of time, as this can cause you to fall into the bad credit category — be informed when it comes to credit card use.

Bad credit loans and the chances of approval

There is no absolute way to guarantee you will get approved for a quick cash loan. Keep these pointers in mind, when your credit history isn’t perfect and you’re considering to get a loan:

  • Check your eligibility — Lenders have set eligibility criteria which the borrower needs to meet. Make sure to visit the lender’s website or call them to learn if you meet their criteria and to discuss your situation. The following criteria are the most common eligibility requirements: an Australian citizen or permanent resident; at least 18 years old; has a regular income through employment or Centrelink benefits.
  • Get a free copy of your credit file — Your credit file is your financial history record, this is what the lender will evaluate to estimate your creditworthiness. Credit reporting agencies in Australia can provide you a copy of your credit file.
  • Compare bad credit loan options — Make sure you compare your options before you apply for a loan to minimise the number of applications you make. This is helpful and a good practice because every application you make shows up on your credit file.

Factors to consider when comparing bad credit loans

Before you resort to this form of borrowing, let’s look at some things to keep in mind when applying for a loan with bad credit.

  • Online application — You can save time with the convenience of applying online. It is also much easier to compare a range of credit providers online which will help you make the best choice. If you are interested in getting a loan go to Cigno Loans and simply fill in their easy application form.
  • Minimal to no credit checks — It is common practice for lenders to do a credit check. It’s a challenge to be approved for a personal loan from most credit providers when you have a bad credit history. You might want to consider a no credit check loan if you have credit problems.
  • Repayment terms — Most lenders will give borrowers different options on how to make their loan repayments. The most common way is through direct debit, which can be set up and broken down to eliminate the time spent making monthly payments. There is also robust security technology in place to increase the borrower’s confidence in the automated process.
  • Fees and interest rates — Although you can expect higher fees and interest rates due to the risk of these type of loan, rest assured that the fees are capped by The Australian Securities and Investments Commission (ASIC).

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Don’t fret, you are not stuck with a bad credit

You should know that having bad credit doesn’t have to be a permanent thing. Late payments, foreclosures, and even bankruptcies will fall off your reports after a certain amount of time. This means that even if you file for bankruptcy, it’s still possible for you to work toward better credit.

The bottom line is it’s still possible to find lenders who will work with you and your bad credit. Just work towards improving your credit score and learn to handle your finances responsibly.

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The Difference Between Risky & Smart Loans In Australia

November 26, 2018
, , Bad Credit Loans, Emergency Loans, Payday Loans

When you need a quick loan, it’s easy to jump online and find a sea of options to choose from. The thing is, there are loads of loan options out there are designed for specific circumstances. When you’re on the hunt for a smart loan in Australia, it helps to know a few of the most crucial financial ground rules that’ll let you separate the good from the bad.

In this article, we’re going over some of the most important things you need to look for when you’re searching for the perfect loan option. These are the key things you need to ask yourself:

 

Do you need the money right now or can you wait?

There are two forms of loan, short-term and long-term. Long-term loans are the conventional personal loan format that are commonly offered by banks and well known financial institutions.

They take a bit longer to apply for, usually span over years into the future, and the interest rate you receive is based on your credit history. If you need the cash right away to solve a really urgent issue,  a long-term loan isn’t the best option for you.

Short-term loans are much faster. They are designed to be paid back within weeks or months of you receiving the money. These short-term solutions are usually referred to as payday loans. The best advantage of a payday loan is speed.

At Cigno Loans, we offer to make payment within 24 hours of your application being approved. Need the funds today or tomorrow? Then this is the way to go.

 

What’s your credit score like?

If you have an amazing credit score, you’ll be able to access options like overdrafts and credit cards. It’s important to remember that credit cards, overdrafts, and payday loans usually have a similar cost range in terms of interest rates and fees, so it’s worth doing some looking around to find the best offers.

If you have a poor credit score, you won’t have easy access to a lot of financial products or credit purchases. Payday loans traditionally don’t include a credit check. So even if your credit history is really bad, you’ll have no problem getting a short-term loan as long as you can prove you earn a stable income from work.

The most important thing any payday loan provider is going to want to check is your monthly salary. At Cigno, we do this by asking to see your most recent bank statements. If it looks like you can afford the loan comfortably, we’ll be happy to help.

 

What do you need the loan for?    

Need the money for a really urgent situation? Then taking a payday loan is completely justified. Want the money to plan a big holiday? Then you shouldn’t really be using short-term financial products to fund it.

There are loads of ways to handle holidays that don’t cost too much, but the amount you spend isn’t the only problem – your ability to pay back within the next month is just as vital. The thing to remember with payday loans is that they’re designed to help you get through tough times, not pay for luxury pleasures.

When you take a conventional personal loan or credit card, once you’re approved for the money, you can do what you like with the funds provided. With short-term loans however, we like to be far more careful that you’re using the cash for something you absolutely need.

If you tell us that you’re looking to buy a new accessory for your car or a new bag, we’ll be forced to advise that you have a very careful rethink of your intentions and this will mean delays.

Some of the most common reasons we provide our loans include:

  • To repair damages to the house that compromise your safety and well being.
  • Repairs to cars that are vital for your travel to work.
  • Food and necessities for the rest of the month.

That’s it! These are the main things you should be asking yourself when you’re looking for a smart loan in Australia. When you’re low on cash, and need a quick injection of funds to make it to your next payday, a short-term loan is your best bet. Have more time and want a larger amount of money to do something more special? Then you have the freedom to look for long-term personal loans from established providers.  

The Difference Between Risky & Smart Loans In Australia

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Read more about bad payday loans here, or in our previous blog post: Why No Fuss Payday loans Are Rising In Popularity

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Common Barriers To Loans With No Credit Check

October 29, 2018
, Bad Credit Loans, Payday Loans 2

When you’re looking for a loan with bad credit, there are certain things you need to be aware of so that you don’t apply to the wrong places, waste your time, and damage your credit rating even further. In this post, we’re taking a look at some of the most common factors that prevent borrowers actually achieving a loan with no credit check. Read through these so that you have an understanding of the right loan products to chase and give yourself the best chance of being approved first time.

We’ll start with:

 

Unsteady income

At Cigno Loans, we specialise in short-term payday loans. These are loans with no credit check because they are designed to be paid to your account as quickly as possible. Credit checks take time, so when you need to act fast, you need a loan that doesn’t include this time sapping process.

Because we don’t run credit checks, we need to be sure that you can afford the loan we’re giving you. To do this, we check your current income. If your current income isn’t high or consistent enough, we’ll be forced to offer you a lower amount or refuse your application entirely. This dynamic will work exactly the same way with any payday loan provider.

You need to make sure you have recent bank statements that clearly show you’re earning a steady salary from work. Have this to hand when you apply along with your ID and you’ll have a great chance at being approved without delay.

 

Wanting the loan for the wrong reasons

Payday loans are for emergencies. They should never be used to buy things you don’t need or to have a good time. If you put down in your application that you want the money to get yourself a nice new wardrobe for the summer, your application will be delayed or refused.

When you find yourself constantly struggling to make ends meet, saving on variable costs like bills and weekly shopping is one of the best ways to improve your situation. When a cost comes up that can’t be ignored and you don’t have the cash to cover it, that’s when a payday loan can be very handy.

Need the money to buy a new TV or car? Then forget it. Tell us you need the funds to repair your boiler, buy food for the month or any other necessity and we’ll do our best to help. The fastest way to be refused a payday loan is to admit that you want the money for investments or gambling. You might have heard others brag about the money they’ve made using payday loans for seed money, but it’s just not what these loans are made for.   

If you need to make extra money on the side, you’re best bet is to find a part time job, sell things around the house that you no longer use or consider cutting back on luxury services that you no longer need.

 

Not having ID that’s up to date

When’s the last time you checked whether your passport or driving licence is expired. If it’s been a while, you should double check before you start your loan search. All payday loan providers will ask for official government identification that’s in date and clearly shows your current address. If yours is expired, you’ll need to get it renewed before you can apply.

At Cigno, we aim to process loans within 24 hours of your application. Many of our customers need instant cash paid out so that they can settle urgent costs as soon as possible. If there’s any reason your application cannot be completed, we’ll get back to you as soon as we can to let you know what’s holding us back.

There they are! These are the most common issues that people tend to come across when trying to apply for a loan with no credit check. Bad credit is certainly a limitation, but there are always ways to get your score back up to good levels. The absolute best way to recover your score is to make sure you pay all your credit debts as quickly as possible. We help you do this with handy notifications to your phone to remind you of your upcoming payment dates.

Common Barriers To Loans With No Credit Check

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Read more about no credit check loans here, or in our previous blog post: Can I Get Fast Cash Loans With Bad Credit?

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3 Big Threats To Avoid When Looking For An Online Loan

October 26, 2018
, Bad Credit Loans, Payday Loans, Short Term Loans 1

 

The rise of the internet has made a lot of things easier. When you’re short on cash, one of the first things you’ll likely do is have a quick search for an online loan using your phone of any other device. The thing is, the internet is full of options, both good and bad. In this article, we’re highlighting 3 huge threats you need to look out for when you’re on the hunt for an online loan.

Here we go!

 

No physical address

Whenever you deal with anyone whether it’s online or not, you need to know where they’re based and that they are a real company. You’re bound to come across at least one or two online loan companies that claim to offer dependable services but don’t actually have a physical address. This should be one of the first things you look for when you enter any website.

At Cigno Loans, we know how important it is provide customers outstanding customer service, especially when they need it most. This is why we offer our contact details and actual address so clearly on our website. What do you think it actually means when an online business doesn’t show you any contact details or a real address? It means they don’t have a base, it probably isn’t a robust team of professionals, and they definitely won’t have a dedicated team that’s on hand to help as needed. Don’t take the risk! Avoid these types of companies completely.

 

Payment upfront

This is a really cheeky one! There’s such a thing as a secured credit card, which requires a deposit payment made upfront, but an upfront cost for a loan is something else entirely. Credit checks are an important part of modern living and it’s common for people now to buy too much and overspend especially using credit cards. Even if your credit score is really bad, you still should never need to pay upfront costs to receive a cash loan.

At Cigno, we definitely never ask customers to pay anything upfront and we don’t check credit history either. The most important thing we need to see is your most recent bank statements. If you do consider an online loan with some kind of deposit structure, make sure it’s from a market leading company that comes highly reviewed by a mix of the largest financial advice resources out there. Taking a deal like this from an unknown brand is far too risky to even consider.

 

Companies that guarantee approval

There’s no such thing as guaranteed approval for any financial product. Any credible company will have some form of assessment for you to complete. A finance product that guarantees approval is like a doctors that guarantees to fix any and all afflictions under the sun – it’s just not feasible.

Our criteria is very simple. We need to see that borrowers are able to make the repayments that’ll come with their loan amount, and the best way to do this is by checking your monthly income. It’s in our best interest to make sure you can afford the loan you’re applying for. If someone doesn’t need to see any proof of your ability to repay, it basically means they have no interest in making sure the loan is appropriate for you. There’s only really one phrase that accurately describes these kinds of offers – “click bait”.    

There you have it! These are the three biggest threats when looking for a loan online. Strapped for cash? It’s always a good idea to watch the pennies, but there are certain circumstances where buying cheap or going for the most attractive options isn’t necessarily the best answer. The online environment makes it super easy to apply for loans, but you still need to protect yourself from scams.

Our online application process is designed to be as easy to complete and forthcoming with information as possible. We don’t believe in hiding facts away and absolutely want you to be 100% confident that you understand all the agreement details before you decide to accept the loan.

We hope this quick list has helped! Think we’ve missed anything? Feel free to get in touch or leave your ideas in the comments!  

 

3 Big Threats To Avoid When Looking For An Online Loan

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Read more about online loans with instant approval here, or in our recent blog post: Where To Get Online Loans With Instant Approval In Australia

Cash Loans With No Credit Check – How Do They Work?

October 8, 2018
, Bad Credit Loans, Payday Loans 1

Cash loans can be very helpful in situations where you’re running low on money and need funds fast. In this article, we’re going to explain some of the factors that make cash loans with no credit check so well suited to those in desperate financial circumstances. Heard about payday loans before and want to learn more? Have a look through this overview to see if this might be an appropriate solution for you. We’ll start with:

 

What is a payday loan?

Payday loans are the core solution we focus on at Cigno Loans. These loans are designed to bring customers fast payouts so that they can use the money to address their situations as soon as possible. The funds are paid straight to your account and you are expected to pay back what you owe using your next payment from work.

 

When do people tend to use payday loans?

Payday loans are intended to help you with urgent circumstances. You might have spent too much this month and run out of cash for essentials or an urgent cost might have come up in the form of a housing or vehicle repair. There are loans of reasons someone might consider a payday loan to be their best route. If you need the funds right away and don’t have access to a credit card or people that can loan you the cash you require, a payday loan could be the most practical option for you.    

 

Why don’t these loans require credit checks?

Normal loans require credit checks because the loan term is usually spread over years. Payday loans are meant to be paid back within weeks or months. Because they are short-term, a credit check is not as useful as checking your current income levels. As long as we can see that you are earning a consistent income, we’ll be confident in your ability to pay what you owe.

We never want to see anyone run into debts or money trouble, so we do all we can to ensure the process is handled as responsibly as possible. Once we have assessed your most recent bank statements, we’ll get back to you with an offer that we think fits your situation perfectly.

When your credit score is low, you might struggle to access typical lines of credit like credit cards and overdrafts. Thes types of product usually always involve a credit check. Sometimes applying can even damage your score further if you are refused. You won’t be refused for a payday loan as long as you are in gainful employment and can prove that your next payment from work will be enough to make repayments comfortably.   

 

How much can you get with a payday loan?

At Cigno, we offer loans up to $500 for first time borrowers. This is a sensible amount that should help you get through most cash shortage situations. The worst thing you can do with a payday loan is take more than you need or more than you know you’ll be able to pay back without any problems.

This amount can go up if we can see you have a history of borrowing from us without issues. Make sure everything goes well with your first loan and we’ll be happy to continue helping you when you need a fast injection of urgent cash in future.

Managing your money effectively is hugely important if you want to avoid constantly reaching the limits of your monthly budget. We never advise people to use cash loans with no credit check to buy things they don’t need. Missing payments can seriously impact your credit history as well as land you the kind of penalties most people would expect from all forms of unsecured credit, be it credit cards, overdrafts or payday loans. When you take these financial solutions, you must be sure you have a solid plan to pay back what you owe exactly as agreed in your terms.

That’s it! That is our basic break down of cash loans with no credit check and how they work. Need more advice? Feel free to get in touch with our team if you have any other questions about payday loans and we’ll do our best to provide as much information as we can.  

Cash Loans With No Credit Check – How Do They Work?

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Read more about cash loans with no credit check, or check out our previous blog post: Why So Many People Prefer Loans With No Credit Check

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Top Facts About Cash Loans For Bad Credit

October 2, 2018
, Bad Credit Loans, Payday Loans

You’ve run out cash and need a loan to make it to your next payday. Do you ask friends, apply for a new credit card or take a payday loan? If speed and avoiding a credit check are at the top of your priorities list, a payday loan could be your best move. In this post, we’re giving you our top facts about cash loans for bad credit ratings. Take a look at these vital points to make sure you pick the right course of action for your situation. We’ll begin with:

 

Cash loans are usually based on your income

Payday loan companies like Cigno Loans might not assess your credit score, but your income certainly plays a large role in the process. If your rating is low but you have a steady monthly income, you’ll certainly quality for a payday cash loan for bad credit. At Cigno, we try to have an open mind towards the needs of individual applicants rather than see everyone as a just a collection of digits.

We need to see that you can easily afford the loan you’re looking for. It would be terrible on our part if we gave out cash loans to people that are were not earning enough to pay for them. One of the fastest ways to land yourself in a deepening puddle of debt is to continue borrowing amounts that you cant afford. We do our best to avoid this by ensuring we remain very careful with who we accept.

As long as we can see in your most recent bank statements that you have a regular income, we’ll be able to make you a loan offer.   

 

Loans for bad credit pay much faster

We can all benefit from cutting down our spending and putting more effort into planning our days more carefully. Living a simpler life is not as tough as you’d think if you’re prepared to make a few sacrifices. The more we spend, the more risk we take in overstretching our incomes. When money is tight, speed becomes a pressing concern. This is why payday loans are designed to pay out very quickly.

Cash loans work for bad credit borrowers so well because they ditch the credit check. This is one of the main reasons they can be so fast. Credit checks take a lot of time to process properly. Our team doesn’t have to do them, so we can move on and get your application through the stages in double quick time. In most cases, we can ensure your loan is paid to your bank account within 24 hours of your application being approved.

As you can imagine, this kind of lightning speed is perfect for situations where you need the cash right away. If your car’s broken down or a pipe has burst in your house, you can’t exactly wait weeks to have it fixed. These are the exact circumstances where an immediate injection of the exact level of funding you need can be a real lifesaver.

 

Repaying what you owe is crucial in restoring your rating

However you choose to borrow, you should always aim to make repayments exactly as outlined in your agreement. Planning your day-to-day is a huge step towards taking control of your finances. Whether you chose to use a credit card or payday loan, making repayments on time is the best way to prove that you’re responsible with credit. This is the path to reducing your debt, increasing your credit score, and being able to access the best interest rates for large loans in future.

If you decide to take a payday loan, you have to make sure that you don’t miss repayments or fail to pay at all. This can have a very negative impact on your credit score. If your ambition is to raise your rating back up to stellar levels as soon as possible, the last thing you want to do is fail to successfully repay your loan on time.

Those are the top facts you should remember when looking for a cash loan with bad credit. Need more help? Feel free to leave a message in the comments or get in touch with our team for more advice.   

Top Facts About Cash Loans For Bad Credit

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Read more about cash loans for bad credit here, or in our previous blog post: Centrelink Loans – How To Get Cash Funding While On Benefits

Why So Many People Prefer Loans With No Credit Check

September 17, 2018
Bad Credit Loans 5

Thinking about taking a loan anytime soon? Most loans will feature a credit check near the start of the application process. There’s a growing amount of people now that look for loan options that bypass the dreaded credit test. Here, we’re going to cover some of the most important reasons that loans with no credit check are becoming increasingly attractive to so many borrowers.

Let’s get going!

Credit checks are bad news if you have a poor credit score

One of the main reasons for people to dodge the credit check is because they have a bad credit rating. Your rating lets banks and other loan providers know that your past experiences with borrowing haven’t gone so well. They see this as really strong evidence of your lack of ability to pay back what you owe, so they’ll more than likely refuse anyone that has a score below a certain point.

At Cigno Loans, we don’t assess people based on their credit history when they apply for our short-term loans. Your credit score only says so much and we believe even those with bad credit should be allowed a chance to prove themselves able to borrow successfully. The most important thing we look for is your main source of consistent income. As long as we can see that you can afford to pay what you owe us when your next payday comes in, we’ll be happy to make you a loan offer.

Having no credit checks saves time

Loans with no credit check are a whole heap faster than loans with full checks. That’s why applying for a personal loan from a bank takes so much time. They have so many more processes to deal with than we do. We can provide instant payout loans within 24 hours of your application being approved. In some cases, we’ve even had the money paid out within a few hours.

This kind of same-day speed is impossible if you insist on running credit checks. When money is an issue, time can be everything. We understand that when you have an urgent cost to settle right away, you can’t sit around waiting for the money to be paid to you a few weeks or days down the line. You need it as soon as possible. This is the main reason we’ve structured our process to enable lightning fast payouts direct to your bank account.

Saving is hard when you live on a limited budget. Ideally, everyone would have a safety fund to fall back on when things are tight. If you’re still working on building yours, and a huge emergency cost has turned up out of the blue, your options can be quite limited. Our fast short-term loans are designed to be there for you when you need just enough to get you to your next payment from work. We offer up to $500 for first time borrowers and our website allows you to apply for any amount you need below this level.

Refusal based on credit can sometimes hurt your score further

Have you ever tried to apply for a credit card and been rejected only to find that the failed application has actually driven your score down even lower? This is one of the most frustrating things about the credit check system. Not only can it be really hard to access the credit you need if your score is less than perfect, but being rejected can damage your rating even further.

You might have a stellar record in your bank account history, but still be struggling to access credit due to a low score. This is another reason why more and more people are dodging credit checks altogether. Sometimes it’s best to go for loans with no credit check than taking the risk of applying for one that’ll set your rating back even more if you’re not accepted.

There they are! These are the main advantages of seeking a loan that is based on your current income rather than your credit score. We hope you’ve found this review helpful and will be happy to help if you have any further questions about our loan application process. Feel free to get in touch or leave a comment below for more information.

Why So Many People Prefer Loans With No Credit Check

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Read more about no credit check loans here, or in our previous blog post: Why No Credit Check Loans are Your Solution to Unexpected Expenses

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Centrelink Loans – How To Get Cash Funding While On Benefits

September 11, 2018
, , Bad Credit Loans, Payday Loans 7

The government’s Centrelink program is there to help those who need it most, but what happens when the funding you receive isn’t quite enough? In this article we’re going to be looking at the best ways you can access a Centrelink Loan that fits your circumstances. Have a read through these pointers to see if a short-term solution might be the ideal option for your urgent financial situation.

Payday loans with instant payouts

Cigno Loans offers payday loans and microloans to people who need cash as soon as possible. As well as those in full-time employment, we also like to provide help to people outside of work that are living on welfare and need a Centrelink Loan to get them through the month. Sometimes, the money you receive from benefit payments just isn’t enough. When you find yourself short on money and unable to pay for necessities, the most ideal solution would be a fast injection of emergency cash from a reliable source. This is exactly what we aim to bring you.

Handling your income and finances isn’t always easy. New costs can come up and people run out of cash from time to time. When you find yourself in this situation, your options can be quite limited. You can take a loan from a friend or try and pull off some extra work on the side, but how quickly will these ideas payout and give you the funds you need right away? With our payday loans, we usually try to have the money reach you within 24 hours of accepting your application.

You can apply for a payday loan with bad credit

Your credit score isn’t all that important when it comes to short-term Centrelink Loans. All we need to see is your latest bank statements to ensure you have the steady income needed to pay us back within the coming months. If your credit score is really low, you may have tried applying for credit elsewhere and found nothing but rejection. We like to be far more open minded and understanding of different peoples needs, so we’ll still consider your application even if your credit rating is really low.

You can apply for the exact amount you need online or over the phone

Modern living is filled with money challenges, and when you’re living on a limited income, things can pop up that you didn’t expect. We always advise that borrowers only take exactly what they need to cover their most urgent costs. Take too much and your final bill will be higher. It’s never a good idea to spend your loan on things you don’t need. Our short-terms solutions are designed to help you with emergencies, not entertainment or luxury purchases.

The most convenient way to apply is online. Using the Cigno loans website you can complete your application anytime of the day or night. Prefer speaking to someone? Our friendly team is available during daytime office hours to help you through the application process if this is your preference. Once we have your application, we’ll do everything we can to send you an offer within hours!  

Repay successfully and we’ll be happy to lend to you in future

Find yourself struggling on a regular basis? If you take your first loan with us and repay without issue, we’ll be more than happy to continue lending to you with even faster processing times in future. If you can prove to us that you are a responsible borrower by paying back what you owe exactly as agreed in your loan terms, you’ll have faster access to our services should you need more help at some point down the line. Our basic loan limit is $500, but we may be able to offer higher amounts to people that have borrowed from us on numerous occasions before without issue.

There you have it! A payday loan could be one of your best options when seeking instant funding. Whether you’ve just started receiving Centrelink benefits or have been for a while now, as soon as you need cash fast, Cigno can offer you a short-term loan that’s paid out within hours. Remember, you’ll need your bank statements and at least one form of official government ID to complete your application.      

Centrelink Loans – How To Get Cash Funding While On Benefits

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You can also read more about our Centrelink loan products here, and in our previous blog post: The Advantages Of Cash Loans For Centrelink Customers With Bad Credit

 

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The Benefits Of Payday Cash Loans For Bad Credit Borrowers

August 28, 2018
, Bad Credit Loans

There aren’t too many options available to you when your credit score is low and you need a fast cash loan to cover urgent expenses. In this post, we’re looking at the main advantages of instant cash loans for borrowers with bad credit history. If you’re on the hunt for an instant injection of cash to sort out your immediate money worries, have a read through this post to see if a payday loan sounds like the right move for your situation. We’ll start with:

The application process involves no credit check

At Cigno Loans, we offer fast payout cash loans for up to $500. We don’t include a credit check in our process so that we can offer payouts within 24 hours. This kind of speed is impossible to achieve if you’re relying on credit agencies to process reports as part of the application process. We understand that in times of need, speed is key. This is exactly why we prioritise income as an indicator of an applicant’s eligibility for one of our short-term loans.

You might have a really poor credit rating, but as long as we can see that you’re currently earning a steady income, we’ll be able to help you out with a fast payday loan straight to your account. All we need from you in the application is proof of your current salary in the form of your most recent bank statements, and your government issue ID. That’s all it takes! Once we have assessed your financial situation, we’ll send you an offer for the amount we’re happy to lend you and process payout as soon as we can if you accept our terms.  

Due to this level of simplicity, we’re able to help those who’ve been let down by credit card issuers or banks. We don’t think your credit score is the only factor that truly reflects your ability to borrow responsibly, so we like to give chances to those that would be rejected elsewhere.

It’s a chance for you to prove your ability to pay back credit

The vast majority of borrowers that apply to us with bad credit, have a damaged rating because they’ve failed to make repayments as agreed for other loans and personal credit. When you take one of our short-term loans, it’s a great opportunity to actually show that you’re now a far more responsible borrower. This is often one of the best benefits of cash loans for bad credit customers.

The worst thing you can do to damage your credit report is to borrow money and fail to pay it back on time. Likewise, the best thing you can do improve your standing is successfully take credit from a regulated source and pay it back exactly as agreed.   

We tend to be more understanding than other forms of credit

Like any other form of lending that is offered to people with bad credit history, not paying in time can have some serious consequences. Unlike other sources of funding, at Cigno we have a deeper understanding of our customers and appreciate how important it is to work with you when things go wrong. Saving money in modern society is not always possible, and we know how easy it is to become a little short in a mix up.

When you mess up repayments on a credit card, you’ll have the major fees to deal without question. With us, as long as you contact us as soon as you think you’ll have trouble paying, we’ll do everything we can to try and amend your repayment schedule to suit your needs better. We don’t see you as just another number. It’s in our best interest for you to pay back what you owe smoothly, so we’re always on your side to help make this happen without harsh consequences.        

These are the key benefits to using a cash loan for bad credit customers. When you’re in a pinch with cash, it’s hard to find the exact amount you need made available within hours. With a payday loan, you can specify the precise level of funding you require to make it through to your next payment from work. We hope this quick overview has helped!

The Benefits Of Payday Cash Loans For Bad Credit Borrowers

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Read more about bad credit loans here, or in our previous blog post: Why No Credit Check Loans are Your Solution to Unexpected Expenses

 

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The Advantages Of Cash Loans For Centrelink Customers With Bad Credit

August 24, 2018
, Bad Credit Loans 7

If you’re a Centrelink customer, you’ll be well aware of how difficult it can be to make ends meet on a low budget. In this post, we’re gonna go over the key advantages of cash loans for Centrelink customers with bad credit. Think you might be a bit stuck for cash this month and have important things to pay for? Read through these pointers to see if a quick payout cash loan is the way to go. Let’s make a start with:

Short-term cash loans pay out fast

Short-term cash loans are also known as payday loans. Unlike regular loans that can take weeks to finally reach you, payday loans are designed to be paid to your account as soon as possible. The term for a payday loan isn’t very long and you’ll be expected to pay back what you owe using the money from your next work or welfare payment.

Some payday loans companies only deal with borrowers that are in full-time employment. At Cigno Loans, we offer short-term loans to Centrelink customers as well as those in work. Whether or not you have a good credit score is not important as we don’t conduct credit checks in our assessment. As long as we can see that you have a steady income, we’ll be able to help you with instant cash solutions that meet your needs. In the vast majority of cases, our fast loans can be paid out on the same day that you apply.    

Get the amount you need with a hassle free application process

Another huge advantage of our payday loans is how easy it is to apply. We’ve designed an internet based application process that makes our service far more practical and convenient than ever before. You can apply online through our website at any time and we do everything we can to ensure the money reaches the account of your choosing within hours.    

It can be tough living on a restricted income outside of work. We understand that making things balance can be tricky at the best of times, especially as all it takes to put you in a real pinch is for an unforeseeable cost to turn up suddenly. All you need to apply for one of our loans online is your most recent bank statement showing your income from Centrelink or your place of work and a government issued ID.    

Not only is our application process very simple, we also allow you to pick the exact amount you want to borrow. We offer loans up to $1000 and will provide you an offer of the amount we think is most suitable for your circumstances after we have processed your application. Taking the minimum you need to cover your most urgent costs is highly advisable and will help ensure you’re able to pay what you owe comfortably.  

Clear offers and helpful repayment notifications

The best way to attack your money worries is to practice being as sensible with money as possible. We believe in providing short-term loans the right way, which is why we make all of the charges and rates in our loan terms as clear as possible in our offers. This helps you make a perfectly informed decision and be sure of all conditions before you agree to anything.

We also understand how easy it can be to forget certain dates down the line, which is why we’ve built helpful notifications into our process that keep you up to date on your upcoming repayment days. When you’re having to manage a tight monthly budget, it’s never a bad idea to try and cut down on unnecessary spending as much as you can. Check out this helpful post to find a bunch of ways you can save on day-to-day expenses.

Those are the core benefits of cash loans for Centrelink customers with bad credit. We hope this quick list has helped! If you receive Centrelink payments and have a bad credit score, you can still access quick funds in emergency situations. Don’t like the idea of applying online? We have a friendly customer service team that will be happy to help you complete your application over the phone.    

The Advantages Of Cash Loans For Centrelink Customers With Bad Credit

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Read more about bad credit loans here, or in our previous blog post: Can I Get Fast Cash Loans With Bad Credit?

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