Bad Credit Loans

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Interest rates

From 6.99%

Loan term

1 to 7 years

Online application

5-10 minutes

Loan approvals

Fast and simple

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If you have bad credit, our personal loans could help you turn it around. Because it can be difficult to convince a bank to loan you money when you have a low credit score, paying off a loan with us is the best way to improve your credit profile.

What is bad credit?

Bad credit is something that becomes associated with you if you have defaulted on your loan repayments in the past. Typically, a loan repayment left unpaid for more than 60 days is considered a default. Depending on the details of the specific loan, bad credit can include a default left unpaid, a default that has been paid off, part IX debt agreement, present bankruptcy or past bankruptcy.

How do credit inquiries affect bad credit?


Every time you apply for a credit product, like a loan, a credit inquiry is recorded on your credit profile for a term of five years. These remain on your file whether you are rejected or accepted. This means that many large banks will see a large number of credit inquiries over a short time as likely evidence that you have applied for many loans and they have been declined – if they haven’t been declined, it may still harm your chances for taking out a new loan, as lenders will assume that if you are paying off the products indicated by the credit inquiries on your file, you will be less able to pay back what they lend themselves. This is why it’s important to only apply for a loan when you really need it – applying too often, whether successful or not, can make bad credit look worse.



What can I do?


Everyone deserves a second chance. Talk to us about taking out a bad credit loan to boost your credit profile back to health. To help you know what you can apply for, we have created the guide below. Please read this before making an application.


It is worth applying for an unsecured loan if your bad credit is limited to:

  • No more than one default to a finance company or bank, which is paid off
  • No more than two small unpaid defaults to any other company


It is worth applying for a secured personal loan if your bad credit is limited to:

  • No more than one default to a finance company or bank, that you are currently paying off
  • No more than two small unpaid defaults to any other company; and
  • You own a car or a home


Unfortunately, we do not have the resources to help you if you are:

  • Currently bankrupt
  • Currently under a No Asset Procedure



Contact us today


For more details on secured or unsecured personal loans NZ can trust, contact Max Loans today, so we can provide advice and assistance to you about your specific situation.

Find out more about bad credit loans

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