Tallahassee FL
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This page was last updated
July 2019
Commentary is for informational purposes only. See legal disclaimers here.
Compare Bad Credit Lenders (2019)
Fair Credit Lenders in Tallahassee FL
Lenders: contact
us for listing removal.
First Florida
Credit Union
1661 Raymond Diehl Rd Tallahassee
FL 32308 - www.firstflorida.org
850.922.7855
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Leon Federal Credit Union
1827 Capital Cir NE, Tallahassee
FL 32308 - www.tlfcu.org
850.576.8134
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Flag Credit Union
3115 Conner Blvd, Tallahassee
FL 32311 - www.flagcu.com
850.488.6781
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Envision Credit Union
440 N Monroe St, Tallahassee
FL 32301 - www.envisioncu.com
850.942.9000
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Florida A & M University FCU
1610 S Monroe St, Tallahassee
FL 32301 - www.famufcu.com
850.222.4541
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Sunshine Savings Bank
1400 E Park Ave, Tallahassee
FL 32301 - www.banksunshine.com
850.219.7200
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Wells Fargo Bank
1201 N Monroe St, Tallahassee
FL 32303 - www.wellsfargo.com
850.425.2500
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FMB
2000 Apalachee Pkwy, Tallahassee
FL 32301 - www.fmbbank.com
850.878.2626
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Prime Meridian Bank
1471 Timberlane Rd #124, Tallahassee
FL 32312 - www.trymybank.com
850.907.2300
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Sunshine Savings Bank
1700 N Monroe Street #10 Tallahassee
FL 32303 - www.banksunshine.com
850.219.7229
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Application Form for Tallahassee FL
Tallahassee FL Lenders Map
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Tallahassee FL 5x5 Loan App Volume
Top 5 Tallahassee neighborhoods for loan application volume in the last 5 months. Source: WFL Lender Pool. Updated Monthly.
- Old Dirt Road
- Sagebrook Mill
- Hawks Nest
- Turkey Creek
- Carrollwood
Bad Credit Loan in Tallahassee FL
Bill is having a difficult time trying to figure out
why his credit is so bad. He found out the hard way when he applied
for a loan and was informed that his credit score put him in the bad
credit area.
The lender he was speaking with could not approve a loan for him based
on his credit score and his credit history.
Bill needs a loan to pay off his credit cards, catch up on his utility
payments and pay his rent. He missed several payments when he had an
accident at work and was laid off.
With no health insurance and no support from his employer, he had to
find another job as soon as he recovered. All of this left him owing
approximately $9500 and a bad credit rating.
As soon as he missed payments, the folks he owed money to reported him
to credit agencies and his credit score began to drop.
He also applied for several new credit cards which were declined. But
each time he applied, this application initiated a hard enquiry and
his credit score was docked again.
Many consumers are not aware of this little known fact. Each time there
is an enquiry to a credit rating agency, you lose points on your credit
score, because it indicates that you are potentially taking on more
debt.
He has a job now and is slowly catching up. But he knows if he can borrow
this money, pay off his debts, he will actually be ahead since he will
pay less interest charges.
His credit card balances are actually costing him 20% interest on the
unpaid balance.
A $9500 loan with an five-year term and 9.9% interest rate for Bill
would cost him the following per month:
• Loan Amount (principal) = $9500
• Interest Rate = 9.9%
• Term Length = 5 year
• Monthly Payment = $201.38
• Total Paid Back = $12082.79
• Total Interest = $2582.79
Bill considers himself lucky to be approved for a loan at what many
would consider a high interest rate in today’s low interest environment.
With his bad credit score he is paying a penalty for the perceived high
risk that lenders view him to present.
This is quite typical. If lenders are willing to lend money to someone
with a bad credit score, they will often demand higher interest rates
to protect their investments.
Bill was able to get caught up on his overdue utility bills, rent payments
and his credit card debt. With the low single payment of $201 a month,
he will repay the loan in five years time and he will be well on the
way to improving his credit score as long as he does not miss any payments.
He should maintain a minimum balance on his credit cards to avoid any
further negative impacts on his credit.
Bill is still upset at his old employer for not supporting him at all
when he had an accident at work. In fact, he is looking into whether
he can sue for any compensation for the time lost on his job and other
damages.
He has kept good records of what happened and also his expenses. He
has nothing to lose at this point and could gain some financial support.
If you live in Tallahassee FL and you need a loan regardless of a bad credit rating we hope our website helps you in some way.
Sincerely,
Chris Somerset
Chris Somerset is the daughter of Lance Somerset who founded the We Find Lenders Pool. She contributes to WeFindLenders.com whenever she's not having fun with her three children and her husband Ron.
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Employment & Education Advancement Opportunities in Tallahassee FL
If you live in Tallahassee 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 Tallahassee FL
Tap image for larger interactive map.
Consumer Credit Counseling Services
2415 N Monroe St Tallahassee
FL 32303 - 850.893.7864
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1st United CRS, LLC
4583-a Capital Cir NW, Tallahassee
FL 32303 - unitedcrs.com
850.539.8000
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Federal Resources
FTC Budget PDF / USA.GOV Debt Info
Tallahassee Assistance Programs
Food Bank: Florida Association of Food Banks / Address: 200 West College Avenue #124, Tallahassee, FL 32301 / Phone: 855.352.3663
Hot/Cold Meals: America's Second Harvest of the Big Bend / Address: 4446 Entrepot Boulevard, Tallahassee, FL 32310 / Phone: 850.562.3033
Shelter In Case of Eviction: Big Bend Homeless Coalition / Address: 2729 West Pensacola Street, Tallahassee, FL 32304 / Phone: 850.576.5566
Social Assistance Programs:
Capital Area Community Action Agency
/ Address: 309 Office Plaza Drive, Tallahassee, FL 32301 / Phone: 850.222.2043
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Usury Law Governing Tallahassee FL
Summary of Florida Usury Law that applies to Tallahassee / Legal: 10% Contract: 18% and above $500K @ 25% Judgment: 6% Corporate: No ceiling
For details regarding Tallahassee's legal authority on lenders we encourage you to check out Florida State Legislature website on the Statute §687 and §516.031 page.
If you believe any Tallahassee
based lender isn't doing business in accordance with the law you can complain
here:
Florida Office of Financial Regulation Division
of Consumer Finance / Mailing Address: Florida Office of Financial
Regulation / 200 E. Gaines Street, Tallahassee, FL 32399 / Physical Address:
Florida Office of Financial Regulation / 101 E. Gaines Street Tallahassee,
FL 32399 Phone: 850.487.9687 / Online
complaint process
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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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