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This page was last updated November 2018

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Fair Credit Lenders in Mobile AL

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New Horizons Credit Union
6320 Airport Blvd Mobile
AL 36608 - www.newhcu.org
251.316.3240

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Alabama Credit Union
901 Spring Hill Ave, Mobile
AL 36604 - www.alabamacu.com
888.817.2002

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Mobile Educators Credit Union
3150 Airport Blvd, Mobile
AL 36606 - www.yourmecu.com
251.473.4712

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University of South Alabama FCU
103 Hillcrest Rd, Mobile
AL 36608 - www.usafedcu.com
251.706.0255

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Navigator Credit Union
1175 Hillcrest Rd, Mobile
AL 36695 - www.navigatorcu.org
800.344.3281

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Commonwealth National Bank
2861 SpringHill Ave, Mobile
AL 36607 - 251.478.1222
www.ecommonwealthbank.com

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First Community Bank
2862 Dauphin St, Mobile
AL 36606 - www.fcb-al.com
251.344.5821

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Regions Bank
891 Hillcrest Rd, Mobile
AL 36695 - www.regions.com
800.734.4667

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Wells Fargo Bank
6391 Cottage Hill Rd, Mobile
AL 36609 - 251.370.1554
www.wellsfargo.com

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BBVA Compass
4685 Airport Boulevard Mobile
AL 36608 - 251.470.7390
www.bbvacompass.com

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Bad Credit Loan Form for Mobile

Fast Loan Pre-App Method
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Mobile Lender Service Area Map

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Mobile AL 5x5 Loan App Volume

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

  1. Malibar Heights
  2. Gorgas
  3. Yorkwood
  4. Dauphin Acres
  5. Parkhill

Mobile Bay in Mobile Alabama : Licensing/Credit

Bad Credit Loan Example In Mobile

Bruce's divorce is not going well. He had tried for an friendly divorce without using lawyers. He wanted to use counselling services and save money by not paying for a lawyer.

His soon to be ex went along with this approach at first, however it seems that she has been talking to her friends who suggested she was being too nice and should take him for everything she can.

She has decided to get a lawyer and it went from bad to worse. He feels that he needs a loan to help pay for the legal fees he is going to have.

He now must also get a lawyer and they are paying legal fees that will quickly eat up any money that they were going to save and then some.

The only ones to make any money will be the lawyers. They have a court hearing in a couple of weeks and Bruce does not have not have the cash to pay his lawyer.

He is at risk of losing his house and all of his savings. If he fights this legal action, they both will not end up with very much at all.

Because of the situation, neither his wife nor Bruce have a credit rating that will support a loan at low interest rates.

He has a home, however there is no indication of whether he will end up with the home, if it will be sold to cover expenses or if it will be transferred to his wife as part of the divorce proceedings.

His best estimate at this point is that he needs to come up with $8000 to pay legal fees.

A $8000 loan with a three-year term and 9.5% interest rate for Bruce would cost him the following per month:

• Loan Amount (principal) = $8000
• Interest Rate = 9.5%
• Term Length = 3 year
• Monthly Payment = $256.26
• Total Paid Back = $9225.49
• Total Interest = $1225.49

Few lenders will approve a loan in a situation like the one Bruce is in. His obvious solution is to somehow work with his ex to resolve the issues in the divorce proceedings and avoid significant legal expenses.

He is appealing to some of her friends that will speak with him to see if they can talk to her and show her just how much it will cost them both. In fact, he believes that she will be further ahead if she settles now instead of using a lawyer.

After everyone cooled off a bit, both Bruce and his ex were able to work things out with the aid of a counsellor who cost them both far less money than a lawyer for each of them would have cost.

He was able to explain with the help of the counsellor that the money they saved actually put them in a better position in the long run.

Although Bruce did not need the loan in this situation, he also learned that he would have to pay a high interest rate on a loan given his poor credit rating.

He is going to focus on improving the credit score over the coming years to help him qualify for better rates in the future.

A shout out to all living in the Mobile Alabama area. If you need a loan regardless of credit, we may be able to help you today.

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.

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Employment & Education Advancement Opportunities in Mobile AL

If you live in the Mobile area, you can use these links to research job and/or education advancement(s).

Job Upgrade: Indeed / Monster

Education Advancement: College / University

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Credit Counseling In Mobile AL

Mobile Credit Counsellors Map - Initial Static Image

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Consumer Credit Counseling Services
705 Oak Circle Drive North, Mobile
AL 36609 - www.cccsmobile.org
251.602.0011

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M T & E Credit Repair
(near Mobile AL)
101 W Lee St C, Chickasaw
AL 36611 - 251.308.2321

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Mobile Assistance Programs

Food Bank: Feeding the Gulf Coast / Address: 5248 Mobile South Street, Theodore, AL 36582 / Phone: 251.653.1617

Shelter In Case of Eviction: Waterfront Rescue Mission / Address: 279 North Washington Avenue, Mobile, AL 36603 / Phone: 251.433.1847

Social Assistance Programs: Mobile Community Action / Address: 658 Donald Street, Mobile, AL 36617 / Phone: 251.457.5700

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Usury Law in Mobile AL

Summary of Mobile 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 Mobile 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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