Montgomery AL
Fair To Bad Credit Loans
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This page was last updated
January 2019
Commentary is for informational purposes only. See legal disclaimers here.
Compare Bad Credit Lenders (2019)
Fair Credit Lenders in Montgomery AL
Lenders: contact
us for listing removal.
Guardian
Credit Union
3380 Eastdale Cir, Montgomery, AL 36117
www.myguardiancu.com
334.244.9999
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MAX Credit Union
2785 Zelda Rd, Montgomery, AL 36106
www.mymax.com
334.260.2600
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Avadian Credit Union
2906 Atlanta Hwy, Montgomery, AL 36109
www.avadiancu.com
334.271.4526
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ASE Credit Union
1000 Interstate Park Dr, Montgomery, AL 36109
www.asecu.org
334.270.9011
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River Bank & Trust
7075 Halcyon Park Dr, Montgomery, AL 36117
riverbankandtrust.com
334.396.6565
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Wells Fargo Bank
7690 Vaughn Rd, Montgomery, AL 36116
www.wellsfargo.com
334.277.4457
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Amerifirst Bank
8165 Vaughn Rd, Montgomery, AL 36116
amerifirstbank.com
334.409.2980
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Regions Bank
3421 Mcgehee RD Montgomery, AL 36111
www.regions.com
800.734.4667
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Cadence Bank . Montgomery Branch
6836 Atlanta Hwy, Montgomery, AL 36117
cadencebank.com
334.277.8478
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Bad Credit Loan Form for Montgomery
Montgomery Lender Service Area Map
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map.
Montgomery AL 5x5 Loan App Volume
Top 5 Montgomery neighborhoods for loan application volume in the last 5 months. Source: WFL Lender Pool. Updated: Monthly.
- North Montgomery
- Downtown
- Arrowhead
- Capitol Heights
- Maxwell Air Force Base
Bad Credit Car Loan In Montgomery
Gale wants to get another car to replace the one she has been using for the past five years to get back and forth to work.
She assumed that she would just be able to go into
the dealer, purchase a car and receive on the spot financing. The last
time she purchased a car she had an excellent credit rating and was
able to be approved immediately for a low interest car loan the same
day.
Unfortunately for Gale, her credit rating has not been maintained over
the past five years. She forgot to make payments on a credit card bill
and only paid it after collections starting calling her at work.
This was an error on her part, however she is paying the price for not paying attention to the mail. Gale also got into a dispute about one of her utility bills.
She refused to pay the utility for one of her monthly
bills. They did not mess around. They reported her missed payment almost
immediately which meant that her credit rating took another hit.
All of this contributed to her bad credit situation and being unable
to secure a car loan at the dealer where she expected to make her car
purchase.
She is looking for a car loan for $35,000 and knows that she will probably
have to pay more for the loan than if she could have got the loan through
the car dealer.
A $35000 personal loan with a seven-year term and 14% interest rate
for Gale cost her the following per month:
• Loan Amount (principal) = $35000
• Interest Rate = 14%
• Term Length = 7 year
• Monthly Payment = $655.90
• Total Paid Back = $55095.63
• Total Interest = $20095.63
Dealers have an agreement with lenders to provide excellent interest
rate car loans. When you look for a car loan on your own, and have bad
credit, car loans are much more expensive.
Never the less Gale needs to have a new car and is willing to pay for
it. She was able to find a loan with a 7-year term and a 14% interest
rate. The payments are high, but she needs to be able to get back and
forth to work.
She briefly toyed with the idea of just keeping her existing car until
her credit rating improved. She would have had to spend over $2000 on
maintenance for new tires and a muffler system along with a major tune
up.
She elected to go with the loan and avoid having to
spend money on repairs.
Gale is very happy in her new car and she feels safer with all of the
new technology that today's cars come with.
She knows she has to pay more attention to paying all
of her monthly payments on time if she is to improve her credit rating.
She is making very sure that her loan payments for the car are coming
out of her bank account every month automatically. Maybe when she goes
to replace this car her credit rating will be much improved.
Sincerely,
Andy Somerset
Andy Somerset is the son of Lance Somerset who founded the We Find Lenders Pool. He writes for WeFindLenders.com whenever he's not working hard on his degree in finance.
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Employment & Education Advancement Opportunities in Montgomery AL
If you live in Montgomery 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.
Education Advancement: College / University
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Credit Counseling In Montgomery AL
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map.
Scott's Credit Repair
4131 Carmichael Rd #15, Montgomery, AL 36106
www.scottscreditrepair.net
334.272.4540
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Clean Slate Credit LLC
600 S Court St #214, Montgomery, AL 36104
www.cleanslatecredit4u.com
334.430.5296
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Precision Credit Recovery LLC
2421 Presidents Dr #21, Montgomery, AL 36116
877.885.2650
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Credit Restoration Services
8125 Decker Ln # H, Montgomery, AL 36117
334.356.2303
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Goodwyn Credit Counseling
2939 Chestnut St, Montgomery, AL 36107
334.262.7450
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Federal Resources
FTC Budget PDF / USA.GOV Debt Info
Montgomery Assistance Programs
Food Bank: Montgomery Area Food Bank / Address: 521 Trade Center Street, Montgomery, AL 36108 / Phone: 334.263.3784
Hot/Cold Meals: Friendship Mission / Address: 3561 Mobile Highway, Montgomery, AL 36108 / Phone: 334.281.2395
Shelter In Case of Eviction: Family Promise of Montgomery / Address: 3020, 28 Crenshaw Street, Montgomery, AL 36104 / Phone: 334.265.2010
Social Assistance Programs:
Human Resources Department / Address: 11 South
Union Street, Montgomery, AL 36130 / Phone: 334.242.1325
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Usury and Regs. in Montgomery AL
Summary of 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 Montgomery 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
Debt Consolidation Loan Calculator
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