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Alabama Lenders > Birmingham

This page was last updated September 2018

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Fair Credit Lenders in Birmingham AL

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Birmingham City Credit Union
708 17th St N, Birmingham, AL 35203
cobgecu.net
205.583.4654

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Legacy Community Federal Credit Union
1920 4th Ave S, Birmingham, AL 35233
www.legacycreditunion.com
205.930.5000

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Avadian Credit Union
3439 Colonnade Pkwy, Birmingham, AL 35243
www.avadiancu.com
205.967.2993

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Oakworth Capital Bank
2100 Southbridge Pkwy, Birmingham, AL 35209
www.oakworthcapital.com
205.263.4700

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Renasant Bank
2001 Park Pl, Birmingham, AL 35203
www.renasantbank.com
205.716.3475

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ServisFirst Bank
324 Richard Arrington Jr Blvd N
Birmingham, AL 35203
www.servisfirstbank.com
205.949.2200

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Wells Fargo Bank
401 19th St N, Birmingham, AL 35203
www.wellsfargo.com
205.321.3019

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Union State Bank
2200 Lakeshore Dr, Birmingham, AL 35209
www.unionstate.net
205.871.7684

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Bad Credit Loan Form for Birmingham

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)

Learn about GAP (Gift Angel Program)

 

Birmingham Lender Service Area Map

Birmingham Bad Credit Lenders Map - Initial Static Image

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Birmingham AL 5x5 Loan App Volume

Top 5 Birmingham neighborhoods for loan application volume in the last 5 months. Source: WFL Lender Pool. Updated: Monthly.

  1. Brownsville Heights
  2. Brummit Heights
  3. Smithfield
  4. Penfield Park
  5. Southside

Alabama Theatre in Birmingham: Licensing/Credit

$10000 Bad Credit Loan In Birmingham

It was as a rough time for Felix. He had a really bad credit rating and was getting turned down by every lender out there. It wasn't for lack of a good job either.

At the time of his loan application he had been working for the Birmingham Civil Rights Institute for over five hears. That's a strong employment record to have, and there's little chance of that job being terminated with his work record.

The problem was his bad credit rating.

It's so common these days. Good people with bad credit. From our perspective it feels like an epidemic. The vast majority of the people applying for loans in the Birmingham area come to our site because they have bad credit. They don't come here by searching for "I have excellent credit and need a loan" in Google.

No. If you have excellent credit you just make an appointment at the Birmingham City Credit Union over on 17th Street North, open a new account, and get a loan approved without question.

And there is the true irony of major banking institutions and credit unions. If you have bad credit and need a loan you can't get one. If you have good credit and don't need a loan, you CAN get one (and the loan officer will smile for you even).

It's tough. I've personally been there. I lost my business when I had overextended myself prior to the Great Recession of 2008/09. I lost my business and my house. I was devastated for a few months after it all came crashing down.

I swore I would never be broke again and I would never have a bad credit rating again. If you have a bad credit rating I would encourage you to take a deep breath and say these words,

"I have bad credit but it's only a situation I'm dealing with right now and not forever."

Try to remember it's only temporary.

So back to Felix. He couldn't get approved because of low FICO score. He started using the Internet and he found a web site that uses our lender pool for their main resource for finding suitable lenders for people with poor credit ratings.

He use the pre-app form and submitted his request for $10000. His application was approved for publication within an hour of submitting it. When he woke up the next morning he had an email from a qualified and reputable lender.

By that same night he had another email from a lender in his area. He talked if over with his wife and she helped him choose which offer to take.

The next day he swamped documents with the lender who serves the entire State of Alabama. Within two days of applying he had the money wired to his account.

Here is the calculation on his $10000 loan.

• Loan Amount (principal) = $10000
• Interest Rate = 8.73%
• Term Length = 2 year
• Monthly Payment = $455.61
• Total Paid Back = $10934.63
• Total Interest = $934.63

The interest rate was somewhat high, but he agreed to pay it based on the fact that his wife had just found a job. Now they had a duel income so that really helped.

He was approved for loan based on his good employment record and steady cash flow. The reasons for his bad credit score were discussed with the lenders who gave him the offers. They simply looked at why his score was so low.

They didn't just "write him off" because of his FICO numbers. They went through the reasons way he had a bad credit rating and made a judgment call on whether or not he would be able to service his new debt.

It still happens that way IF you find the right lender.

All that best to you folks in Birmingham Alabama and I hope we can help you with finding a personal loan at some point in the future.

Sincerely,

Lance Somerset

Lance Somerset founded the We Find Lenders Pool. He writes for WFL on rare occasions just for the fun of it, and to stay current with the content on our web site. His son Andy and daughter Chris handle most of the research and writing.

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Employment & Education Advancement Opportunities in Birmingham AL

If you live in Birmingham and you're struggling with making ends meet, you may consider advancing your education and/or finding a higher paying job. We've provided some links here to help with that.

Job Upgrade: Indeed / Monster

Education Advancement: College / University

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Credit Counseling In Birmingham AL

Birmingham Credit Counsellors Map - Initial Static Image

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Birmingham AL Credit Repair Restoration
2746 summit place, Birmingham, AL 35243
888.715.2400

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Utopia Credit Counselors LLC
1028 Daniel Dr, Birmingham, AL 35228
205.876.8228

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Debt Hero: Birmingham Credit & Debt Counselors
2100 Southbridge Pkwy, Birmingham, AL 35209
205.588.0023

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Consumer Credit Counseling
Birmingham, AL 35222
205.592.0300

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Birmingham Assistance Programs

Food Bank: Community Food Bank of Central Alabama / Address: 107 Walter Davis Drive, Birmingham, AL 35209 / Phone: 205.942.8911

Hot/Cold Meals: Community Kitchens of Birmingham / Address: 5712 1st Ave North, Birmingham, AL 35212 / Phone: 205.251.3569

Shelter In Case of Eviction: Firehouse Ministries / Address: 1501 3rd Avenue North, Birmingham, AL 35203 / Phone: 205.252.9571

Social Assistance Programs: Department Of Human Resources Jefferson County / Address: 2001 12th Avenue North, Birmingham, AL 35234 / Phone: 205.423.4900

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Usury and Regis. in Birmingham AL

Summary of Birmingham Alabama Usury Law(s) / Legal: 6% Contract: 1% above discount rate or Greater of 8% or 2% above prime Judgment: 12% Corporate: Any rate agreed to above $2000.

If you believe any Birmingham Alabama based lender charging up front fees or anything else questionable, you can file a complaint:

Alabama Agency for Handling Complaints / State of Alabama Banking Department / Send letters in writing to Arlene Baldwin / P.O. Box 4600 / Montgomery , AL 36103-4600
334.242.3452

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WFL Loan Product Menu

  • Bad credit scores below FICO 650
  • 200+ lenders review your pre-application(s)
  • Applying does not worsen your credit score
  • Interest rates starting as low as 9% (cs)
  • Collateral not always required
  • Funding between 24 hours and 5 days
  • Terms from 6 months to 10 years
  • Borrow between $500 and $50,000
  • Loans for people with 650+ credit scores
  • 500+ lenders can review your application
  • Interest rates starting as low as 7% (cs)
  • Fast approvals and fast funding
  • Line of credit approvals with reasonable APR
  • Borrow between $500 and $150,000
  • Lenders who provide bad credit consolidation
  • Debt settlement or debt relief services
  • 300+ lenders can review your application
  • Interest rates starting as low as 7% (cs)
  • Seamless approval and funding process
  • Debt relief counseling available
  • Borrow form $5000 - $150,000

 

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