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Young People Getting a No Doc or Bad Credit Loan

Young People Getting a No Doc or Bad Credit Loan

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Youth is wasted on the young, they say, but it’s not always young people’s fault that it’s wasted. Many times young people want to get on and make a success of their lives, but no-one will help them. Once I applied for a loan from the bank so I could buy a car, but they told me I couldn’t get it and were pretty rude in fact.

The bank manager asked me “you’re 26 years old, you own nothing – why don’t you own a home yet?”.

It was absurd – I couldn’t believe they were saying such a thing.

One way young people can consider getting loans for such things as buying a car or maybe even starting a business, is to approach private lenders.

Of course you must be very wary about the interest rate and all the terms and conditions, but such things – which may be known as bad credit loans – are also in effect known as low doc loans or even no doc loans – in other words they are loans where the lender is willing to give you finance even if you have “no docs” or “no documents”.

It’s never advisable to be seeking a personal loan to buy consumer products such as handbags, shoes or a new suit (unless it’s for a job interview) – a modest-priced car is about as far as your loan-minded ambition should go – however it’s true that small business loans can be worth it if you have the right business model – think seriously before you go ahead with any debt to fund a business, as some glamorous career options like owning cafes or nightclubs usually turn out to be misadventures. Many cafes survive on a one percent profit margin, at least small bars might be better because ultimately they’re in vogue and so, providing you have your social media management up and running well before you launch, you can develop a business which is popular from the night it opens.

It’s a reality that affluence varies widely between Asian students in Australia. Chinese students who are the kids of China’s technocrats or business owners need never think about having to be sensible around money. However for many others, the only way they can survive in Australia – and pay the exorbitant study fees – is by taking on dubious part-time work either poorly paid hospitality or in adult entertainment industries.

We wish we didn’t live in such a selfish capitalistic society, but we do. We wish every brave young person all the best!


Based in Taipei City, Taiwan – Young Go!. We use theatre as a portal to reach, teach and unlock the creative ability of youth. We work with thousands of teenagers each year, focusing on personal growth and supporting strong peer and community relationships.


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