Little Rock AR
Fair To Bad Credit Loans
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This page was last updated
March 2019
Commentary for informational purposes
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Compare Bad Credit Lenders (2019)
Fair Credit Lenders in Little Rock AR
Lenders: contact us for listing removal.
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Arkansas Federal Credit Union
1001 W Capitol Ave Little Rock
AR 72201 - www.afcu.org
501.982.1000
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TruService Community FCU
11001 Hermitage Rd, Little Rock
AR 72211 - www.truservice.net
501.225.3636
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Telcoe Federal Credit Union
820 S Louisiana Street Little Rock
AR 72201 - www.telcoe.com
501.375.5321
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UP Arkansas Federal Credit Union
1501 Pike Ave, North Little Rock
AR 72114 - www.upfcu.org
501.374.2190
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Baptist Health Federal Credit Union
9000 Kanis Rd, Little Rock
AR 72205 - 501.202.2373
www.baptist-healthfcu.com
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VA Hospital Federal Credit Union
4300 W 7th St, Little Rock
AR 72205 - www.vahospitalfcu.org
501.661.1938
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Dillard's Federal Credit Union
1600 Cantrell Rd, Little Rock
AR 72201 - www.mydfcu.com
501.340.2300
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Electric Cooperatives FCU
1 81st St, Little Rock
AR 72219 - 501.570.2396
www.electriccoopfcu.org
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Southern Gas Federal Credit Union
2205 E Roosevelt Rd, Little Rock
AR 72206 - southerngasfcu.com
501.374.2031
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Little Rock Debt Consolidation
600 E Capitol Ave Little Rock
AR 72202 - 501.235.8602
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Debt Hero Debt Consolidation
300 S Rodney Parham Road
Little Rock AR 72205
501.235.8245
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Bad Credit Loans in Little Rock AR
Little Rock AR Lender Area Map
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Little Rock AR Loan App Volume
Top 5 Little Rock neighborhood loan app volume
- Reservoir
- River Mountain
- Upper Baseline
- Oak Forest
- Boyle Park
Little Rock Bad Credit Loan Example
Omar has lived in Little Rock his entire life now works in construction. Unfortunately, he was laid off completely out of the blue. He tried getting employment, but he had no luck getting rehired with a different contractor. His wife didn't have a job at the time, and their bills started piling up.
Omar and his wife Julie were starting to get notices from their creditors; asking them to start making payments. Their interest rates and penalty fees started acclimating as well, which resulted in a lot of stress on the family.
They have three children to support, which made it even worse for them. Julie tried getting a job too, and the both of them were now in the market for employment.
Within a year their credit score was so bad they were being turned down by all local lenders. It was a very bad time.
Omar's credit score was an abysmal 510 which made it almost impossible to get approved with ANY traditional lenders - this includes all the credit unions and banks in Little Rock.
Julie had a bad credit rating too, with a score of 580. As you can see, they were between a rock and hard place.
They looked into the Prosper.com website, hoping they could get a loan to get all their bills caught up, and get their car paid off. They were just trying to get their monthly costs down as soon as possible.
But when both people in the relationship have a poor credit rating, traditional banks and credit unions will only damage your credit rating further, if you keep applying for more credit.
Since Prosper didn't pan out, they started looking for other websites that have private lenders reviewing their request(s).
Ultimately, they found the WFL Project and submitted their pre-application for a $30,000 loan. They did the basic math and decided they needed at least $30K to catch them with all of their creditors.
Here is the math on the private loan they
were approved for from on of the lenders in our pool that can legally
service consumers in Arkansas:
• Loan Amount (principal) = $30000
• Interest Rate = 14.88%
• Term Length = 4 years
• Monthly Payment = $833.10
• Total Paid Back = $39,988.74
• Total Interest = $9,988.74
This is a very expensive loan (as you can see above) - this isn't a loan you ever want to get, but at least the interest rate is a lot less that if you borrowed money from a credit card company.
A total of almost $10000 in interest over the four year term! This is why we always encourage our users to pay special attention to their credit rating - no matter how tight your situation is - you want to take drastic measures if necessary to keep your credit rating clean and up to date.
If you're living in Little Rock like Omar and Julie and need a loan regardless of your credit rating, we may be able to help you find a willing lender.
Sincerely,
Andy Somerset
Andy Somerset is a writer for the WFL Project.
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Upgrades Nearest Little Rock AR
Job/Income Upgrades: Indeed / Monster
Education Upgrades: College / University
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Little Rock Credit Counseling
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Counselors contact
us for listing removal or info change.
Little Rock Credit Counseling
300 S Rodney Parham Rd Little Rock
AR 72205 - 501.753.0202
helpingfamiliesfirst.org
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Money Management International
Westpark Executive Centre
7101 West 12th Street Suite 200
Little Rock, AR 72204
www.moneymanagement.org
713.394.3232
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Credit Counseling Serving Little Rock
400 Hardin Rd #100, Little Rock
AR 72211 - www.consumercredit.com
501.803.9353
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Federal Resources
FTC
Budget PDF / USA.GOV Debt Info
Little Rock Assistance Programs
Food Bank: Little Rock AR Food Bank / Address: 4301 West 65th St, Little Rock, AR 72209 / Phone: 501.565.8121
Hot/Cold Meals: Little Rock Salvation Army / 111 West Markham Street, Little Rock, AR 72201 / Phone: 501.374.9296 / Monday – Friday 8:30 a.m. to 4:30 p.m
Shelter In Case of Eviction: Little Rock Shelters for Homeless
Social Assistance: Low Income Assistance in Little Rock
Healthcare Assistance:
Serving Little Rock - Healthy
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Usury Law Governing Little Rock AR
Summary of Arkansas Usury Law(s) / Quote: Legal: 6% Contract: 5.5% (consumer rate capped at 17%) / Judgment: judgment rate on contracts is greater of rates provided in contract or 10%. On other judgments rate is lesser of 10% or current contract limit. / Corporate: No specific rate (read more on Arkansas lending laws)
Complaint process for Little Rock
residents:
Arkansas
State Bank Department / Contact: Physical Address: 400 Hardin Road, Suite
100, Little Rock, Arkansas 72211-3501 / Email: asbd@banking.state.ar.us
/ Phone: (501) 324-9019 / Fax: (501) 324-9028/ Arkansas
State Bank Department / Arkansas
Complaint Process
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WFL Loan Solutions
Little Rock residents struggling with bad credit can learn about our bad credit loan solutions, or if their credit is borderline they can learn about fair credit loan solutions. If you're deep in debt you can learn about our debt consolidation loans and solutions.
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