Unpaid credit defaults

Unpaid Credit Default Home Loans

A default on credit can occur when you miss a payment on an expected debt or fail to pay. This typically leaves a mark on your credit score. These defaults can make it hard to be approved for a home or personal loan.

Are you seeking a loan product with flexibility for unpaid defaults?

Regardless of your past financial history, some lenders cater to home and personal loans even with unpaid defaults. Even with unpaid credit defaults, you may find a suitable product and lender to help you with your financial situation.

Our job at Comparez is to find them and help you through the application process.

Reliable Lenders For Unpaid Default Loans

Many lenders are more adaptable and consider providing unpaid defaults loans than traditional lenders such as banks. The trick is that these specialist lenders will often charge a higher rate of interest than your regular banks.

However, this doesn't mean that such lenders don't check the credit history of the borrower and just lend home or personal loan to anyone.

The Pros And Cons Of Specialist Lenders In Australia

Pros

• Accept more unpaid defaults than banks.
• They even acknowledge a low doc loan with less income evidence.
• Consider your explanation for your bad credit history.

Cons

• Few specialist lenders will offer loans for construction.
• Only a few lenders will accept the properties over 5 acres in size.
• Challenging to finance vacant land.