Lenders: contact
us for listing removal.
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
Mobile Lender Service Area Map
Tap image for interactive
map.
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.
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
Tap image for interactive
map.
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 Non-Profit Services
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
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