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This page was last updated November 2018

Commentary is for informational purposes only. See legal disclaimers here.

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Fair Credit Lenders in Los Angeles CA

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Los Angeles Federal Credit Union
201 N Los Angeles St, Los Angeles, CA 90012
www.lafcu.org
877.695.2328

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California Credit Union
4008, 420 Rosenell Terrace, Los Angeles, CA 90026
www.californiacu.org
800.334.8788

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USC Credit Union
3720 S Flower St, Los Angeles, CA 90089
www.usccreditunion.org
213.821.7100

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First City Credit Union
1200 N State St #1649, Los Angeles, CA 90033
www.firstcitycu.org
800.944.2200

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Preferred Bank
601 S Figueroa St # 29, Los Angeles, CA 90017
www.preferredbank.com
213.891.1188

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First Republic Bank
888 S Figueroa St, Los Angeles, CA 90017
www.firstrepublic.com
213.239.8883


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Bad Credit Loan Form for Los Angeles

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

Learn about GAP (Gift Angel Program)

 

Los Angeles CA Lender Service Area Map

Los Angeles Bad Credit Lenders Map - Initial Static Image

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Los Angeles 5x5 Loan App Volume

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

  1. Toluca Lake
  2. Silver Lake
  3. Los Feliz
  4. Eagle Rock
  5. Reseda
 

Hollywood Boulevard Sidewalk Stars in LA: Licensing/Credit

$30000 Bad Credit Loan In Los Angeles

Kalen needed $30,000 to pay off various debts, a couple of pay day loans and emergency medical bills. He works full time at a local restaurant in the LA area making pretty good tips as a waiter and just let his expenses get out of control.

His difficulties began with a trip to the hospital with his daughter who needed emergency surgery. They do not have health insurance so he has to pay the entire amount for the operation. He tried to negotiate a lower price for the surgery and was somewhat successful, however he still owed $25,000.

Next he thought he would take out a couple of pay day loans to cover some of his credit card debt which ended up costing even more money than the credit card interest rates would have. He did not even try to apply for a loan in Los Angeles because of his bad credit situation.

Kalen missed a few payments on rent and car loans a couple of years ago and his credit rating has never recovered from this time. Every time he applies for a loan, they either refuse to lend the money or they want to charge him an arm and a leg in fees and interest rates.

It is a bit discouraging, especially since he was really getting things under control until the medical emergency occurred. He was actually making some progress on recovering his credit rating.

A $30000 bad credit Loan in Los Angeles California with a five-year term and an 10.5% interest rate could cost him the following:

• Loan Amount (principal) = $30000
• Interest Rate = 10.5%
• Term Length = 5 year
• Monthly Payment = $644.82
• Total Paid Back = $38689.02
• Total Interest = $8689.02

Kalen needs a $30000 loan spread over 5 years. The calculations are shown above. He figures that with this term and interest rate he can meet his monthly payment as long as his wife and he can continue working with no more emergencies.

The lender is going to approve the loan for him at these rates, however he will need to place a lien on his car in case Kalen cannot repay the loan. Both he and his wife will need to sign for the loan to provide some level of additional security for the loan to the lender.

The interest rate is very attractive considering that Kalen has such a bad credit rating. If his credit indiscretions had occurred more recently he probably would not have been approved for the loan.

Kalen really needs to make sure that he meets his obligations for this loan. If for some reason he misses a payment, he will risk losing his vehicle and most likely will not be able to obtain any kind of loan in the near future.

Kalen and his family are doing well, His daughter recovered nicely from the operation and he has made several payments on the bad credit loan. He sees no reason why he should not be able to repay the loan in less than the five-year term that was approved.

For all of us at WeFindLenders.com We wish the best for Kalen and his family.

If you live in the Los Angeles CA and you need a loan regardless of a bad credit rating we hope our website helps you in some way.

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 Los Angeles CA

If you live in Los Angeles 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 Los Angeles

Los Angeles Credit Counsellors Map - Initial Static Image

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Financial Counseling Center
4311 Wilshire Blvd Ste 602, Los Angeles, CA 90010
www.financialcounselingcenter.com

(323) 954-4330

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Home Step Solutions
1503 S La Cienega Blvd, Los Angeles, CA 90035
(424) 777-0060

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Best Credit Repair FTC Solutions
530 W 7th St Apt 1103, Los Angeles, CA 90014
(323) 447-8027

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Los Angeles Assistance Programs

Food Bank: Los Angeles Regional Food Bank / Address: 1734 East 41st Street, Los Angeles, CA 90058 / Phone: 323.234.3030

Hot/Cold Meals: Hospitality Kitchen / Address: 821 East 6th Street, Los Angeles, CA 90021 / Phone: 213.614.9615

Shelter In Case of Eviction: Los Angeles Mission / Address: 303 East 5th Street, Los Angeles, CA 90013 / Phone: 213.629.1227

Social Assistance Programs: Los Angeles County Department of Public Social Services / Address: 1740 Gage Avenue, Los Angeles, CA 90001 / Phone: 866.613.3777

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Usury and Regs. Governing Los Angeles

California DOB Website / California Usury Law Codes

Summary of California Usury Law(s) / Legal: 7% Contract: 10% for personal, family or household purposes or any other purposes / Judgment: 10% / file an online complaint, or learn more about the legal code(s) applicable to the State of California view our California State page.

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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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