Here at Fair Go Finance, we’re able help customers who currently have bad credit and are looking for a bond loan.

In this blog we explain what types of bad credit we can consider, what our bad credit bond loans can be used for, and tips on how to make sure you are eligible for a bad credit bond loan.

What type of bad credit is acceptable for a bad credit bond loan?

As a guideline, Fair Go Finance are able to consider customers who have the following listed on their credit report:

1. Late or missed payments for a loan, credit card or bill

We understanding missing one or two can happen, but it can’t be a regular behaviour. For example, if this has happened consecutively for the past 3 months you unfortunately won’t be eligible.)

2. Paid defaults and unpaid defaults

Paid defaults are better than unpaid defaults, but we’re also happy for our loans to be used towards paying and settling an outstanding default too.

We do have limits so we will look at how many defaults you have listed, and when they were listed. For example, if you have quite a few, and they have only been listed very recently, then unfortunately we may not be able to consider you right at this point in time.

3. Declared bankrupts, part 1X’s and debt agreements

We can provide bad credit loans to Aussies who have declared bankruptcy, or are currently in a part 1X or debt agreement.

The one requirement we have for declared bankrupts is that they must have been in bankruptcy for a minimum of 12 months.

You’re welcome to check out some of our customer stories to show how we helped.

What can a bad credit bond loan be used for?

Our bad credit bond loans are able to be used for a lot more than just paying for your rental bond or housing bond!

Here is a quick list we have come up with, but you may have even more ideas. They key is, if it helps you with moving, or living, it should be fine.

  • Pay for your rental bond (also known as tenant bond and housing bond).
  • Help with moving costs like a removal van.
  • Help with purchasing new home items like furniture, appliances and homewares.

rental bond loan

How long can I take out a bad credit bond loan for?

Our loans (from $500 up to $10,000) can be taken over a 3 month period, up to 12 months.

We always check your affordability, and will only offer you a bad credit bond loan if you can comfortably afford the repayments.

Am I eligible for a bad credit bond loan?

To know if you are eligible to apply, you can refer to our dedicated page called “Am I eligible for a loan?”

It’s important that there are always two steps when it comes to loans.

Firstly, you need to make sure you’re eligible to apply. Eligibility relates to criteria such as your age and employment.

Then once you submit your application, you will be further assessed using our guidelines which covers criteria such as credit history (or credit rating), affordability and bank statement conduct.

Tips to know before you apply

Before you apply, understanding what lenders look for, is a great step to improving your chances of being approved.

Whether you’ve been declined in the past or not, our blog “Got a loan application declined? What should you do next? has got valuable tips worth reading, before you apply for a bad credit bond loan.

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Are you eligible to apply?


It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:
For more information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.

Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
If you are on government benefits, ask if you can receive an advance from Centrelink.

The Australian Government’s MoneySmart Website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.