There are lenders that approve loans for people on Centrelink Newstart. Have you just become unemployed, just left school or been made redundant? Do you have some cash but don’t want to touch it, and think a short term loan will help you out, while you apply for Centrelink Newstart? Read and find out!
Personal Loans for people on centrelink newstart can often be approved!
It’s a pain that you have just been made unemployed, but if you have good work experience, a good reference, then it shouldn’t be a problem that you can get some sort of work, even it if is only part time work, it still pays the bills. If you feel a small loan will cover you, so you can keep your lump sum, then apply with the various lenders, they can look at you on a case by case basis and approve quickly …..
So what is your next step? How do you know it’s worth your while to apply? Lenders are smart people, they will assess your ability to repay the loan. If they see that you have assets such as a car, or money in the bank, that you can afford the repayments even on a Centrelink Benefit, they will be open minded and evaluate your application.
What type of Lenders approve Loans for people on Centrelink Newstart?
Speak to a few lenders, like Suncorp, or some of the other less mainstream banks such as Bendigo bank or Bank SA. These are the types of lenders that are likely to look at small loans for people on Centrelink newstart, or any other Centrelink benefit. Put the feelers out first.
Other options? Look at the online lenders. They will get you to fill out a form online, and might get back to you and ask you a few more questions on the phone or they will send you an email. Both the banks and the online lenders will first check you are elligable for a loan, and if you live at home, they may even ask for a parent to go as a guarantor.
Are Loans for people on Centrelink Newstart harder to get approved?
Yes they can be, but hopefully if you are doing all the right things, like applying for jobs, don’t have a lot of debts, you can show the lenders you can repay a small loan, then yes loans for people on Centrelink Newstart can generally get approved, but with conditions.