Bad Credit - Cigno Loans

How to Get a Loan with Bad Credit

January 2, 2020
, , , Bad Credit Loans, Easy Loans, No Credit Check Loans

A blemish on your credit history can make it more difficult to get approved for a loan, but you do have options. If you need a financial solution that won’t rule you out based on past mistakes, the good news is there are lenders who will still consider your application.

In this article, we look at how to get a loan with bad credit, the steps you should take, and some advice for improving your credit history moving forward. We also discuss home and car loans specifically.

 

Step 1: Check Your Credit History

The first thing you need to do is find out just how problematic your credit history might be. This also gives you the opportunity to review your report for any potential errors – the last thing you need is a false incident negatively impacting your credit score.

There are several credit-reporting bodies that are obligated to provide your credit report for free once per year. These include:

You can also access a free report within 90 days of having a loan application rejected.

You can read more about accessing your credit report on the government’s Office of the Australian Information Commissioner website.

 

Step 2: Select a Viable Lender

Lenders to Choose From - Cigno Loans

Once you know if your credit rating is excellent, very good, good, average or below average, you’ll be better able to apply with the appropriate lenders. If your score is below average, you can skip the big banks and other institutions that won’t consider you and move directly to companies that specialise in bad-credit loans.

It’s also worth looking for a lender that uses real people to make decisions rather than relying on algorithms. A human is sometimes more likely to say yes – even when a computer says no.

Finding the right lender can feel overwhelming, so you may prefer to work with a finance specialist like Cigno to arrange the loan for you. We know which lenders will consider borrowers with low credit scores, so you’re less likely to have your application rejected.

 

Step 3: Apply

This step doesn’t vary too much from applying for a regular loan. However, it’s in your best interest to be honest and upfront about your credit score and provide as much evidence as possible showing that your current circumstances won’t lead to any repeats of previous defaults. For example, it may help if you bring recent bank statements that show you successfully paying bills and repaying other loans.

 

Step 4: Improve Your Credit Score

Paying Off Credit Card - Cigno Loans

You’ve experienced the restrictions a low credit score can place on your access to loans, and you’ve likely paid more interest than you would have with a healthy credit rating. There’s no better time to take a serious look at improving your credit history.

The obvious place to start is by repaying your bad-credit loan promptly and in full. Then you can consider some of these tactics for improving your score:

  • Lower the limits on your credit cards
  • Set a direct deposit schedule to ensure all your rent and bills get paid on time
  • Aim to pay off your credit card in full every month
  • Consolidate your existing loans/cards into a single loan
  • Make mortgage and other loan repayments on time.

Taking steps now to bump up your credit score will make it easier in the future to get approved for loans with lower interest rates.

 

How to Get a Home Loan with Bad Credit

The steps above are all relevant for getting a home loan. However, there’s an extra tip to consider when applying for a mortgage: lenders mortgage insurance (LMI). If you can save up enough of a deposit (usually around 20%), you may not need to worry about LMI. This means you skip the extra step of having a mortgage assessor review your application – and that’s one less person who might reject it.

Home Loan and Car Loan - Cigno Loans

How to Get a Car Loan with Bad Credit

Just like getting a personal loan, successfully applying for a car loan with bad credit involves:

  • Knowing your rating in advance
  • Being honest and transparent in your application
  • Taking steps now to improve your rating
  • Proving you’ll be able to repay the loan (e.g. with evidence of stable employment and other prompt repayments).

To discuss the short-term finance solutions available to you based on your credit score, feel free to contact our friendly team today.

Credit card in hand

Crucial Reasons To Get Your Cash Advance Online

December 10, 2018
, , Emergency Loans, Payday Loans, Short Term Loans 1

There are plenty of ways you can get a cash advance these days. In this article, we’re going to explain the top reasons why we think it’s best to get yours online. Whether you need the money to buy groceries or pay for crucial repairs around the the house, online loans promise speed and convenience above all else. Take a look through these definitive facts to see if getting your advance online seems like the right way to go. Let’s start with:

 

Online advances can be paid in hours

One of the most popular types of cash advance is a payday loan. This is the kind of short-term finance we offer at Cigno Loans. When you apply for one of these loans online, you can expect delivery of the money right into your account within 24 hours of your application being approved. In most cases, we can pay out the same day! This kind of speed can be essential when you’re in a tough situation, and being able to apply through our website makes the process so much easier.

 

Doing it online means no meetings or waiting lines

One of the worst things about going to the bank or a pawn shop, is having to wait in a line. When you apply online, there’s no such hassle. You can select the exact amount of money you need and get in touch with our dedicated customer service team if you have any questions at all. Instead of being an all day process, your application for an online cash advance can be addressed within minutes. In some cases, we can have the money reach you within hours.

When you try and get a loan or overdraft from the bank, you’ll no doubt have to set a meeting with whoever handles assessments and this can be a real time sapper. Payday loans are designed to be as fast and convenient as possible saving you from all the conventional horrors of getting a cash advance from a physical establishment.

Shopping for a good credit deal is never easy. Most banks and loan providers will almost certainly run you through a credit check as part of their application process. We don’t like the hassle of credit checks and we understand that a lot of people feel the same way, so we never use them as a form of assessment in our short-term loan process. We look at your current income instead as we know this is a much better way to check if you can definitely afford the amount you’re looking to borrow.  

 

Apply at night if needed

Most of us still work a 9-5 routine. That means showing up for meetings or taking lengthy calls during the day to get your loan can be a pain. With our online applications, you can get started on your loan application at any time. Whether you want to get on with it just before hitting the sack or really early in the morning, the option is there for you. Our team does work typical office hours, but we promise to jump on all applications as soon as we get in the next day!  

 

You can compare options easier online

One of the most crucial but also the most tedious facts about borrowing is having to weigh up options. When you get your cash advance online, you can weigh up your options with just a few clicks and page swaps. We’ve been in this business for quite some time now, so we know what separates the best providers from those that don’t survive. The best thing to look for is a solid company profile including a real business address, great customer reputation, and a very dedicated customer service team. Without these necessities, an unknown short-term loan provider could prove very risky to work with down the line.

 

Cut costs by doing it online

You’re probably in need of a cash advance because you’re already facing costs you can’t manage. Paying bills is often more expensive and harder now than it ever has been before. If you’re in a jam with money, the last thing you want is to have to spend more getting yourself from A to B. When you get your cash advance online, there’s no need to spend money on tickets, gas or parking, because you’re doing it all from the safety of your couch. The exact amount of money you need, paid to your account while you’re relaxing wherever you want to be – that’s exactly how it should be!

Crucial Reasons To Get Your Cash Advance Online

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

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4 Situations That Actually Warrant An Emergency Cash Loan

December 3, 2018
, Emergency Loans, Payday Loans 2

At Cigno Loans, we receive applications everyday from people who are in desperate need of financial support. We also receive quite a few applications from people who should think twice about taking a short-term loan for their intentions. As a responsible emergency cash loan provider, it’s in our best interest to only offer loans to people that really need them.

In this article, we’re looking at 4 situations where your need for such support is fully justified. The next time you’re in one of these situations and you’re short on cash to pay for the costs, we’ll be happy to help! Here they are:

 

  1. Need a new cooker or fridge

These are items that most families can’t live without. When the cooker or fridge goes bust while you’re short on cash, you’ll have no choice but to find the means to buy a new one as quickly as possible. Our loans are available within 24 hours of your approval, so they are perfect for situations where the money is required the same day.

How do we make the loans so fast? We don’t waste time with credit checks or an overly complicated process. We understand how important it is for the service to be as efficient as possible, so we’ve designed every step of our product to be smooth and super sharp.

 

  1.  Your car’s broken down

Your car is vital for many things, but the most important reasons you probably have it is for safety and transport to work. If it’s a sports car you keep locked up in the garage, then the repair can probably wait until you can afford to spend you own money on it. But if you use your car for everyday essentials, you won’t be able to live without it.   

Find yourself struggling quite often? There’s bound to be loads of ways you can save if you really put your mind to it. Whether you work full time for a salary or currently rely on welfare like Centrelink for your living, we’re prepared to consider anyone with a steady income they can work with.  

To make the process as practical as possible, we pay the emergency cash straight to your personal bank account. This means not having to hold the lump sum at any point if you don’t want to, not having to head out to pick it up, and an electronic transfer that takes seconds to arrive in most cases.  

 

  1. A big leak in the roof

This isn’t something anyone should have to tolerate even when money is tight. Leaving the situation to worsen could be a safety risk. Our loans for first time borrowers has a limit of $500. This should be enough to help people get through the most urgent situations while controlling the max amount that is accessible.

A lot of people see payday loans as a means to fund activities that we wouldn’t consider safe. So to remain as responsible as we can be, we have to be careful with how much we offer to new customers. We don’t condone gambling and never think it’s a good idea to borrow using a short-term loan in order to buy luxury or unnecessary items.

Holidays are the other major temptation. There are plenty of ways to plan a budget holiday without having to max out your credit cards or seeking an excessive personal loan. Looking to take a trip that’s absolutely vital for personal reasons? Then that’s a very different issue and one we’d certainly be prepared to help with.

 

  1. You need groceries for the coming weeks

It’s easy nowadays to get your finances mixed up and to spend more than you usually do. Lose track too quickly and you could find yourself lacking the cash to buy basic essentials for the month. When payday is just a few weeks away, a few hundred dollars would be more than enough to get you there.  

Our entire application process can be completed online through our website which means you can effectively send the form through 24/7. As soon as we get your application, we’ll get back to you with an offer as soon as we can. If you agree to the terms that are clearly presented in the offer, we’ll have your emergency cash paid to your account within moments.  

4 Situations That Actually Warrant An Emergency Cash Loan

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Read more about quick cash loans here, or in our previous blog post: The Best Advantages Of Fast Cash Advances And How To Use Them

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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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Vital Factors To Look For When Searching For Fast Loans

November 12, 2018
, , , Payday Loans

When you’re running low on cash, one of the most convenient things you can do is search for a fast loan that gives you the amount you need to get you to your next payday. In this article, we’re going over some of the most important things you need to keep in mind while you chase down your best loan options. Check out these pointers to keep your head above water and give yourself the best chance of landing a rapid loan from the right source.

 

Not all fast loans companies are the same

A lot of people might think short-term companies all do exactly the same thing, so once you’ve found one, you’re done. If this were the case, there would only be one company monopolising the whole market, as nobody would see the point in competing. In reality, all fast loans companies offer packages that slightly vary in a variety of ways.

One example of how loan providers can differ might be in their cash limits. At Cigno Loans, we offer loans up to $500. Some companies will offer more, some less. It’s important to remember that you should never aim to take as much as you can when it comes to short-term loans. Fast loans are designed to be paid back as soon as possible. So taking more than you need could prove more costly than necessary.

It’s always a very good idea to look around when hunting for a fast loan. Weigh up policies, limits, and whether or not you like the look of each companies testimonials and contact information. Don’t dive in! You might regret it later.  

 

The speed of payout

If you’re caught in a real pickle, you might not have time to wait for a credit card or long-term loan. Fast loans can usually be paid within a day, but you’ll need to keep any eye out for companies that claim they can do it much faster. If the offer is too good to be true, it usually is.

At Cigno, we promise to have the money paid to you within 24 hours. This is the fastest time you should realistically expect from any reputable short-term loans company. You might come across some websites that promise to have the money paid to you within minutes. Be very careful with these options, as they’re likely not handling things as thoroughly as they should be.

We bypass the credit check to make our payouts as swift as possible. The only reason our process takes hours is because we like to be very sure that you can afford to pay for the amount you’re applying to take. Without this process, we’d be handing out loans blindly and this wouldn’t do anyone any good. Want to play it safe? Pick wisely by sticking to market leaders that come highly recommended.

 

Don’t take limits that will tempt you to spend

One of the most powerful tactics that credit cards use to draw you in is to offer you huge limits that are totally unnecessary. If you find yourself constantly falling short on cash, the last thing you need is a piece of plastic in your pocket that’ll let you buy anything you want with a flick.

One of the most simple ways to save money is to remove yourself from temptation, avoid using large limit credit cards, and reign in your spending as much as possible. Anyone who’s ever worked hard to build their credit score back up will tell you – the first thing credit card companies do when they see that you’re managing your credit more sensibly, is to offer you a huge new card.

These are some of the most important things you need to keep in mind when looking for fast loans online. Sometimes, the safest bet is to go with an established company with a proven record in providing great quality service. Customer care is one aspect we take very seriously at Cigno, as we know people look for reliability and professionalism above all else when it really matters.

We hope this quick list of pointers has helped! Feel free to get on touch if you have any other questions regarding fast loans or fast finance!      

Vital Factors To Look For When Searching For Fast Loans

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Read more about fast loans here, or in our previous blog post: 4 Things You’ve Heard About Fast Loans That Are Unfounded

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Common Myths People Believe About Short-Term Loans

November 5, 2018
, , Emergency Loans, Payday Loans, Short Term Loans

Think you’ve heard everything you need to know about short-term loans? In this quick article, we’re busting down some of the most common misconceptions about these kinds of short-term cash solutions (also known as payday loans). Have a quick read through and see if any of these less-known truths tells you something you didn’t know. We’ll start with one of the most common myths out there:

 

Myth 1: Payday loans are designed to trap people into debt

Nothing could be further from the truth. It doesn’t do anyone any good when a loan is defaulted. If anyone ever tells you it’s possible to survive in finance by handing out money to people that can’t afford to pay it back, they haven’t really thought it through. At Cigno Loans, our main aim is to help people out when they need it most.

The first thing we look for is proof that the applicant earns more than enough to afford the loan they’re applying for. Any reputable payday loans company will do the same because they know the only way to succeed in this industry now is to provide a helpful service, look after the needs of loyal customers, and concentrate on ensuring every loan is completed without difficulty.

 

Myth 2: Short-term loans include loads of hidden fees

Ours certainly don’t! Again, if we bombarded you with piles of hidden fees on your first loan from us, would you come back to us the next time you needed help? Absolutely not! We like to make our fees and interest rate perfectly clear when we send you our loan offers. This ensures the customer knows all the important details upfront, can make a clear decision, and enjoys a surprise-free experience.

Imagine you owned a loans company. You know that the cost of living is already going up as it is, and people are needing reliable fast cash loans now more than ever. Think it would be a good idea to fill your policies with loads of hidden traps that hurt your customers? No, we don’t either. We absolutely believe in being as forthcoming with information as we can throughout the process. Tricky deals don’t cut it anymore. We hate them just as much as you do, so we avoid them as much as we can!

 

Myth 3: Payday loans are for gamblers and the unemployed

We actually always advise against the use of payday loans for anything that isn’t a necessary purchase. Gambling is certainly one of the most dangerous ways to use the money from a short-term loan. People on very low or no income don’t make it past our application process unless they are receiving a steady income from welfare services like Centrelink.     

If you tell us you need the loan to buy new personal items like necessary shopping sprees, holidays, or home improvements, we’ll always remind you that payday loans are only suitable for emergencies. Need to replace the boiler or don’t have enough to buy groceries for the next couple of weeks? These are the kinds of situations we’d be more than happy to help with.

Myth 4: Short-term loans companies jump at the chance to apply late fees

Some loans companies can be. Just like with all credit cards, payday loans are designed to be paid back as soon as possible, so if you miss your repayment dates, late fees are supposed to be applied. At Cigno, we like to take a far more progressive approach to late payments.

The main thing we want to do is help ensure your loan experience is a good one. Get in touch with us as soon as you think you might be late paying and we’ll do everything we can to help rearrange your repayment schedule to suit your needs.

The worst thing you can do is ignore your repayments and then ignore contact with your loan provider. This is a sure way to end up owing more than necessary. The very best thing you can do is communicate with us as early as possible so that we can work with you to find a resolution.

These are 4 of the biggest myths out there surrounding payday loans. We hope this quick list has helped reshape your thoughts on these short-term, fast payout cash solutions.

Common Myths People Believe About Short-term Loans

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Read more about no credit check loans here, or in our previous blog post: 7 Common Reasons for Short Term Cash Advance Loans

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Centrelink Loans – Where To Find Them And How To Apply

October 22, 2018
, Payday Loans 2

You don’t need to be earning a major salary to access loans anymore. Today, more and more people are turning to quick payday loans when they’re short on cash and need instant support. Even citizens receiving welfare are able to apply for fast Centrelink loans that can be paid to your account within 24 hours. Here, we’re going to explain how these loan work and where to find them. If you’re in dire need of some urgent cash, this option could be a great solution for you.

First, let’s start with:

 

What exactly is a payday loan?

Short-term payday loans are our prime finance product at Cigno Loans. These loans are not like standard personal loans. When you apply for a standard loan, the loan term will be for years, the process will take ages, and your credit score will be checked before anything else. Payday loans are designed specifically to help people who are in urgent need of cash without delay. For this reason they are paid out as soon as possible and need to be repaid within the coming weeks or months.

We all aspire to be more careful with our money, but every now and then, things can just go wrong unexpectedly. This is exactly when a payday loan can prove to be the most practical option available to you.

 

Who can take a payday loan?

As payday loans need to be such a fast response solution, they bypass the credit check. This saves huge amounts of processing time and allows the money to be paid out to you much faster. Instead of a credit check, payday loans companies will always need to see proof that you earn enough money to afford the loan. This usually means assessing your latest bank details.  

You need a consistent income to be approved for a fast short-term loan. That doesn’t mean you need to be earning a solid salary to be eligible. Most people on Centrelink will have the income necessary to apply for payday loan. At Cigno, we definitely have a open minded approach to our loan services and are prepared to consider anyone who finds themselves struggling to meet their immediate costs.

 

What are the advantages of a payday loan?    

If you’re in need of a Centrelink loan, the odds are, your credit score might not be in the best condition. Payday loans are not based on your credit rating, so they’re accessible to those with poor credit. A lot of people have had bad habits with cash at some point in their lives. It’s easier now more than ever to spend more than you earn. If you need money quickly and all other lines of credit are closed to you, a payday loan could still be your last remaining reliable source of financial support.  

Another advantage is the fact that these loans can be applied for online quickly and easily. No need for lengthy meetings and waiting around. You can jump onto Cigno’s website and get your application going any time of the day 24/7. We’ll always do our best to process your application as soon as we get back into the office. Almost all approved applications receive their money within hours.

Payday loans are paid straight to your bank account, which is safe and convenient. There’s no need to go anywhere to sign anything, you won’t be holding the cash in hand at any point, and the transfer takes seconds once it’s initiated.

 

What do you need to apply?

The most important documents you need to complete your application are your most recent bank statements and your ID. As long as you have these two key pieces of information we’ll be able to assess your situation and make you an offer. Your Centrelink loan will be clearly outlined in our offer so that you can look over the details before making the final decision to accept or not.

As soon as you sign the offer and send it back to us, the agreement will be binding. The most important thing to do with these loans is to ensure you make the repayments exactly as agreed using your next Centrelink payments. Fail to pay and your account may escalate with dishonour fees. If you fall into trouble, the best thing to do is contact us as soon as you can. We’ll do our best to help as much as we can and might be able to reschedule your repayment dates to suit your needs much better.

Centrelink Loans – Where To Find Them And How To Apply

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

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4 Crucial Rules When Taking Quick Cash Loans

October 4, 2018
, Payday Loans 1

The popularity of quick cash loans, also known as payday loans, is rising. Why? Because when you’re low on cash, payday loans give you access to the amounts you need fast, hassle free, and straight to your bank account. In this post we want to highlight 4 very important rules all borrowers should follow when looking for one of these instant payout solutions. Let’s start with:

 

  1. Never take more than you need

One of the main problems that people tend to have when they borrow, is being tempted to take more than you actually need. This can lead to a growing circle of debt if you fail to manage your money correctly. At Cigno Loans, we always encourage our customers to borrow the minimum level of funding they require to cover only the most urgent costs. This helps ensure they protect themselves from being unable to make repayments comfortably.  

We offer up to $500 to new applicants. If you take the full $500 even though you only need $200 to get you through to your next payday, you’ll have the constant temptation to spend the extra $300 that you’ve borrowed. This is one of the most impactful ways that credit cards tend to pull people into trouble. If you’re walking around with a limit of $2000 in your pocket, it can be pretty hard to shop sensibly knowing the funds are right there and very easy to use.

When you apply for a quick cash loan, you can specify the exact amount you want to receive. This means you can avoid the issue of temptation by taking as little as possible.

 

  1. Borrow from trusted companies   

At Cigno, we’ve been offering payday loans successfully for years and have developed a reputation for great customer service and reliability. Many others in the quick cash loans market are less established and this means they can sometimes resort to making offers that are far too good to be true. If you’ve been using the web for some time, you probably already know the basics of identifying false claims when you see them.

Most people go with market leaders because they come with an element of safety. How can you tell if a loans company if going to be reliable? There are a few sensible indicators to rely on. Do they offer a great customer support service? Try contacting them. If they’re very responsive and helpful, it means they have a dedicated help team. You can also check testimonials and reviews online to see if others have had good experiences with them.

If a vendor is unresponsive and doesn’t have any sort of online presence in the form of reviews or customer references, they’re probably not worth going for, even if their offers are extremely attractive.  

 

  1. Make sure you intend to make repayments exactly as agreed

When you take a quick cash loan, you need to be sure you’re going to be in a great position financially to make the repayments on time. This is where budgeting and effective money management becomes crucial. The better you plan your expenses against your incomes, the better idea you’ll have of the level of funding you should be asking for.

There are a few ways people can make extra money on the side if you are frequently running short on cash month to month. Increasing your income even by a little is a great way to decrease your reliance on credit cards and borrowing.

 

  1. Use the money for urgent purchases only

Ask any of your friends and they’ll more than likely agree that it’s never a good idea to spend quick cash loans on expensive luxury items. It might be common for people to go on huge shopping sprees with credit cards and their overdrafts, but that doesn’t make it the right thing to do. Dodge leaving yourself in large piles of debt by only spending money that you’ve saved and can afford to expense.

There you go! Those are the 4 most important things you need to keep in mind while you’re looking for a quick cash loan. Avoid the threat of debt and poor service by making sure you have your budgets planned and you borrow from the most reliable sources. 

4 Crucial Rules When Taking Quick Cash Loans

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Read more about quick cash loans here, or in our previous blog post: 4 Things You Should Never Do With A Cash Loan

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4 Things You’ve Heard About Fast Loans That Are Unfounded

September 25, 2018
, , Payday Loans, Short Term Loans 4

When you’re finding your usual monthly budget isn’t quite going as far as it needs to, a fast payday loan could be the best way to get you to your next payment from work. You’ve probably heard a whole bunch of things about these kinds of fast payout loans from friends or family and wondered what’s true and what’s not. In this post, Cigno are letting you in on 4 top rumours that are simply not true. We’ll start with:

  1. Short-term loans end up costing more than you borrow

You might have heard this one from a guy at the pub that’s had one too many. This isn’t how it works at all. At Cigno, we charge a fixed interest rate and show you all the charges that will apply to your account before you accept the loan. It’s true that the worst financial products out there try to hide fees as much as they can but that’s not how we like to do things.

For us, being upfront with our prices is the best way to do business. Spotting a scam in today’s online environment can be tricky, which is why we put so much effort into making everything as clear as day when it comes to our loan terms.

The only way you can ever be charged more than the amount you borrow for a loan is if you ignore your account way past your payment deadlines and refuse to respond to contact. Anyone claiming payday loans are a rip-off have probably experienced the consequences of failing to make payments on time.    

  1. Payday loans aren’t regulated

Every financial solution you ever take needs to be from a credible provider regulated by the Australian Securities and Investments Commission. Fast loans like payday solutions are no different. There might be swarms of dodgy vendors out there trying to offer you deals that are too good to be true, but it’s best to stick to the most reliable sources.  

  1. Payday loan companies try to make you pay late

It doesn’t benefit anyone when borrowers pay late. The most important thing to us is that we only lend to people that we can clearly see are able to afford the repayments. Payday loans companies only succeed when their customers borrow what they need and pay back right on time. In it’s our best interest for the loan to go as smoothly as possible, which is why we do all we can to help borrowers make repayments as planned by issuing notifications to remind them of upcoming deadlines.

Even if you have issues paying, we’ll work with you to make new arrangements so that you can settle your account without having major penalties applied to the amount you owe. We’d rather build great relationships with responsible borrowers, than spend all of our time chasing people that have no intentions of paying back.

  1. Payday loans are designed to rip people off

Nope. Actually our fast loans are designed to help people out when they need it most. Wealth isn’t always everyone’s path to happy living, but security and having a safety cushion can certainly make all the difference. If you don’t have a safety cushion fund and your budget is pushed to its limits, you might need a few dollars to get you through to your next payday.

That’s what a payday loan is really for. We’re not keen on helping people buy new watches, cars, or 50 inch TVs. We’re far more interested in providing people a means to access the emergency funds they need to cover urgent costs.

If you plan on spoiling youself with new stuff, it’s best to save up for it. If your survival and well-being is at steak, we’re here to help. Short-term loans are only suitable for those that really need the speed and practicality that come from having such a fast loan option.

Those are out 4 picks for now! There’s bound to more out there but these are some of the most common myths surrounding payday loans. If you need to apply for urgent funding, it’s important to only go ahead if you’re sure you really need the money as soon as possible. Think we’ve missed any? Feel free to let us know in the comments or get in touch.  

4 Things You’ve Heard About Fast Loans That Are Unfounded

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Read more about fast loans here, or in our previous blog post: 4 Ways To Get A Fast Cash Advance

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Top Reasons To Use The Same Payday Loan Provider For Future Loans

September 13, 2018
Payday Loans 1

When you apply for a payday loan for the first time with a new provider, you’ll need your most recent bank statements and your ID to prove you can afford the loan. If everything goes well and you make your repayments exactly as planned, you could develop a beneficial relationship with that vendor that can prove very helpful in future. In this article, we’ll be taking a look at the best advantages to staying with the same loan provider whenever you need a fast cash loan to get you through the month. Let’s start with:

Faster approval

At Cigno Loans, payday loans are our main focus. Our aim is to help you find the perfect short-term loan for your situation. If you’ve borrowed from us before successfully, we’ll be far more confident in helping you secure a loan in future. Come back to us for a second loan and the process will be even faster than it was for your first. We understand that speed is a crucial factor when cash is tight, so we fully appreciate how much difference it can make to offer a payout that’s as fast as possible.   

Familiar notification service

When you’re busy and flustered, it can be hard to remember little details and specific dates. Which is why we offer a range of handy notifications to remind you of the most vital stages of your loan. Different loan companies will have different approaches. At Cigno, we like to keep you well informed with texts to your phone. Most people love this idea as it gives them a little extra reminder to help ensure they don’t miss any payments.

If you get another loan from a different company, you might find they don’t keep you up to date as regularly, or they don’t contact you at all. These little features might seem trivial, but a lot of people look for consistency and like to stick with processes that are familiar.      

All of your history is kept on record in one account

It can be a great help to keep all of your loan information safely stored within one account. Whenever you want to look at past loans or check any account details, it’s all in one place. If you have multiple accounts with a range of websites, looking through your history becomes a bit more of a challenge.  

The main reason to take a payday loan is if you’re running low on cash and need a quick injection of money to get through to your next payment from work. If you’re out of work, we may be able to offer you loan that fits in line with your welfare payments. A short-term loan is a means to solve a money issue as well as prove you can borrow money responsibly. If you ever need to study or display your loan record for any reason, it’ll be much easier to do so if your entire loan history is accessible in one place.  

Potential access to larger amounts

We offer loans up to $1000 dollars to first time applicants. The only way we can offer more is if we’ve worked with you before and have seen that you’re perfectly capable of paying us back. There’s no better way to prove your capability with credit than by borrowing and making repayments exactly as agreed. This also plays a big part in restoring your credit rating to greater levels.  

Those that have dealt with us on numerous occasions successfully in the past are welcome to contact us about higher amounts. You never know when you might need access to larger sums of money for future emergencies, so building an account that allows you higher loan amounts can prove highly beneficial.

Those are the top reasons to use the same payday loan company for your future short-term loans. If you prioritise saving a few cents, looking around for other options may be suitable for you. But if you think consistency, greater convenience and building a strong account is more important, it’s worth doing your research to pick the right company from the start and sticking with them.

Top Reasons To Use The Same Payday Loan Provider For Future Loans

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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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