Joint Personal Loan Applications with Bad Credit
Find finance options for co-borrowers struggling with their credit here with Savvy.
The features and benefits of a joint bad credit personal loan application
One of the most common uses for a personal loan is to consolidate debts into one repayment, which is especially useful for making shared debts more manageable.
Many couples opt for joint personal loans as a means of taking on a shared financial responsibility, particularly if you’re looking at buying a house together in the future.
Our flexible lending partners will assess your application on its merits regardless of your recent or past credit history and there’s no need to worry about putting an asset forward as collateral for your loan.
You and your partner can decide whether to repay your personal loan on a monthly, fortnightly or weekly basis depending on what suits you the most.
We can connect you with lenders who don’t charge monthly account-keeping fees, establishment fees, early repayment fees or all three.
By splitting the repayments between two borrowers, you’ll save money with each instalment compared to a loan taken out by yourself.
Why choose Savvy to help find your bad credit joint personal loan?
A checklist for before your joint bad credit loan application
Ensure that you’re both eligible
Above all else, you should first confirm that both you and your co-borrower are eligible to take out a joint personal loan. There’s little point in applying for a personal loan whose criteria you don’t meet, as it’ll lead to a simple and swift outcome and a mark on your credit file. Both of you will need to meet the following qualification points:
- 18 years of age
- An Australian citizen or permanent resident
- Earn at least $400 per week
- Own an Australian online banking account, with which to receive your income
Common joint bad credit personal loan application queries
Helpful personal loan guides
Still looking for the right personal loan?
Personal loans come in all shapes and sizes, so read more about the ways you can use them, as well as how they might work for you.