If you’re currently receiving payments from Centrelink, there’s most likely a good reason behind it. Perhaps you’re struggling to find work, on youth allowance or you’re on a disability payment, whatever your reason Cigno will look to connect you with a partner who can help.
‘Loans for people on Centrelink’ are online loans for Centrelink customers and therefore have relatively low income.
It’s unfair that some banks and lenders do not even consider applications where the applicant’s main source of income are Centrelink payments. For that reason, Cigno will look to connect you with a partner who can provide a suitable financial solution even if you are on Centrelink.
Whether a power bill is higher than you budgeted, or a car accident has left you with urgent medical and repair costs, there are a range of reasons to apply for a quick cash loan. Is the pantry or fridge looking dry and it’s still weeks away from payday? Or are there some serious home renovations and repairs that can’t wait any longer? Cigno will look to connect you with a partner who can offer a suitable financial solution even while on Centrelink payments.
Get in contact with us today or fill out our information form to get started.
Simply fill out our enquiry form. Through our partner we will distribute your enquiry to a panel of providers who may be able to help you with a Loan for people on Centrelink.
Life does not stop while you are studying, unemployed, or retired. There are a wide range of unexpected expenses that might pop up between your Centrelink payments. These could include:
If you receive an eligible payment (e.g., ABSTUDY, Austudy, or Youth Allowance for students), you can apply to Centrelink for an advance payment whenever you need. This is a government program administered by Centrelink and has strict requirements.
You generally will not be able to apply for a second Centrelink advance if you have already received one in the past year or if you are still paying back a previous advance.
The minimum and maximum vary depending on the type of Centrelink payment you usually receive. Most people (including those on ABSTUDY, Austudy, JobSeeker, Parenting Payment and Youth Allowance) can apply for an advance payment between $250 and $500.
If you think you are eligible for a Centrelink Advance, we suggest you get in contact with Centrelink directly to discuss how much you are eligible for.
When you get an advance payment from Centrelink, you’ll need to wait 12 months before applying again. You’ll also need to pay back the advance before applying for another. You can get more information about Centrelink advance payments here.
As part of the application process, you will have the opportunity to choose a repayment schedule that is affordable and corresponds with your payday. It is important that you choose the repayment schedule that you can afford while still being able to pay your ongoing everyday expenses. If not, then you should consider other options.
If during your loan, you cannot make a repayment when required, please let us know. As your agent, we will arrange a new affordable payment schedule.
Once you have repaid your loan, Cigno can assist you to apply for future loans whenever you need them.
Centrelink cannot access your bank account directly, which is why it’s important to keep them up to date with any significant changes to your financial circumstances (e.g., new income).
Once approved, you will usually receive your payment within a couple of business days.
Unfortunately, most Centrelink advance payments are capped at a maximum of $500. Exceptions to this include the Family Tax Benefit, where you can apply for up to $1,202.54. People on the Age Pension, Disability Support Pension or Carer Payment can get an advance of up to $1,401.60 (for singles) or $ $1,056.45 (for members of a couple). Either way, you can start your application here.
For more information, check out our FAQ’s.
In the period from July 2022 to 3 October 2023, over 100,000 consumers have been lent a total of $34 million, and charged fees of over $70 million, under the ‘No Upfront Charge Loan Model’ operated by BSF Solutions and Cigno Australia. At no time has either BSF Solutions or Cigno Australia held an Australian Credit Licence.
The Court also found that Mark Swanepoel (director of Cigno Australia) and Brenton James Harrison (director of BSF Solutions) were involved in these breaches of the law.
With effect from 24 May 2024, the Court has granted permanent injunctions preventing Cigno Australia and BSF Solutions from:
Cigno Australia was ordered by the Court to, by 5th July 2024, send written communications to consumers who between July 2022 and December 2022 entered into agreements with Cigno Australia and BSF Solutions under the ‘No Upfront Charge Loan Model’.
The Court will later determine whether (among other things) Cigno Australia and Mark Swanepoel ought to pay a pecuniary penalty in respect of this conduct, and whether Mark Swanepoel should be restrained from carrying on a business engaging in credit activity.
Cigno Australia, BSF Solutions, Mr Swanepoel and Mr Harrison intend to appeal the decision of the Court and have filed an application for leave to appeal. If the appeal is successful, some or all of the orders of the Federal Court of Australia may be set aside.
You can access legal advice in your state at: Free legal advice – Moneysmart.gov.au.
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