If you’re in a bit of a financial situation, there’s nothing to be embarrassed about. Everyone, at some point or another, experiences economic expectations beyond his or her budget or savings. These situations include emergency repairs to a vehicle, health expenses, or even loss of employment.
Head over to Cigno’s Bad Credit Loans page for more information and assistance in finding a loan solution for you.
But here on our blog, we’re talking about Centrelink loans.
Firstly, what is a Centrelink loan?
In a nutshell, Centrelink is a benefits program specifically fashioned for the people of Australia under the government department of Human Services.
The aim of the Centrelink is to offer assistance to pensioners, students, people with disabilities and those experiencing financial hardships, lower income or unemployment.
In some cases, a Centrelink loan, otherwise known as an Advance Payment, can benefit individuals and families in mild financial crises. People who apply for Centrelink loans are often seeking money to assist in paying for expenses.
Depending on the type of benefit you receive, and the maximum and minimum payment amounts, a lump sum could be deposited into your account as an advanced payment to aid temporary monetary issues.
How are Centrelink loans applicable to me?
Centrelink loans are often confused with bad credit or quick cash loans. In either situation, they aren’t able to change your entire financial situation, as you’re only borrowing money. But, a loan could save you from more dramatic financial implications.
For more information about types of cash and personal loans, check out this article: There’s some great information out there about various types of cash and other personal loans. Doing some research never hurts. Check this article Personal Loans – What You Need to Know
The Centrelink advance payment, or any other loan is immediate cash, which you can acquire by filing some documentation and adhering to a lender’s procedure.
If Centrelink doesn’t approve your advance payment, you may be eligible for the Cigno service. Help is always available, no matter your circumstance.
Requirements and rules for acquiring a Centrelink advance payment loan
Centrelink advance payments are approved every day. But there are some requirements and regulations for acquiring them. For example, you must be over 18 years of age and must provide a valid proof of identification and age.
You must be an Australian citizen to receive this benefit. The applicant must also provide pay slips or a proof of net income, and your credit history is also taken into consideration.
If your credit history is bad, but you’re still in need of some financial stimulation, you can apply for a Bad Credit Loan with Cigno. Call us today!
Read more about borrowing with us in this previous blog post: Bad Credit Loans: It’s Still Possible to Get a Loan, Even if You Have Bad Credit.