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This page was last updated September 2018

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Fair Credit Lenders in Baton Rouge LA

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Baton Rouge City Parish Employees
Federal Credit Union
433 Government St, Baton Rouge
LA 70802 - www.brla.gov
225.389.3059

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Bayou Federal Credit Union
5880 Florida Blvd Baton Rouge
LA 70806 - www.bayoufcu.org
225.925.8800

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Louisiana USA FCU
10289 Airline Hwy, Baton Rouge
LA 70816 - www.lausafcu.org
225.292.8910

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Neighbors Federal Credit Union
7800 Howell Blvd, Baton Rouge
LA 70807 - www.neighborsfcu.org
225.819.2178

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Campus Federal Credit Union
6230 Perkins Rd, Baton Rouge
LA 70808 - www.campusfederal.org
225.769.8841

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Essential Federal Credit Union
6725 Siegen Ln k, Baton Rouge
LA 70809 - www.essentialfcu.org
888.369.2207

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East Baton Rouge Teachers CU
4836 Plank Rd, Baton Rouge
LA 70805 - 225.355.8896
www.ebrteachersfcu.org

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Baton Rouge Fire Department FCU
11123 Boardwalk Dr, Baton Rouge
LA 70816 - www.brfdfcu.com
225.274.8383

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West Baton Rouge Teachers CU
673 Rosedale Rd, Port Allen
LA 70767 - 225.344.0318

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Breco Federal Credit Union
1850 S Sherwood Forest Boulevard
Baton Rouge, LA 70816
www.brecofcu.com
225.273.1529

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La Capitol Federal Credit Union
8876 Siegen Ln Baton Rouge
LA 70809 - www.lacapfcu.org
225.342.5055

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Bad Credit Loans in Baton Rouge LA

Fast Loan Pre-App Method
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Baton Rouge LA Lender Area Map

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Baton Rouge LA Loan App Volume

Top 5 Baton Rouge neighborhood loan app volume

  1. North Gate
  2. Greenville Addition
  3. Central Business District
  4. Lake Sherwood Acres
  5. Sherwood

State Capital Building in Baton Rouge: Licensing

Baton Rouge Bad Credit Loan Example

Jane is making arrangements for her mom to move in with her and her husband. This is going to be a big adjustment for all of them with the three of them living under the same roof.

In addition, Jane's mom is in a wheel chair and needs a lot of help with daily things such as personal care etc. Fortunately, between state programs and her mom's insurance many of these expenses will be taken care of. Her mom cannot live alone and she does not have enough money to pay for her own assisted living space.

Jane's husband is very supportive and is willing to have her mom live with them, however they are going to need to make some changes to the house to make it more comfortable for all of them.

Jane's husband is not very handy so pretty much all of the work must be completed by a contractor. They have received estimates for the work and it is going to be somewhere around $7000 for everything.

They need a ramp built at the front of the house so she can get in and out. This includes a ramp to the front porch and then another smaller ramp to get in the front door.

Fortunately, they live in a one level open concept home which is going to make it much easier for her mom to get around in the wheel chair.

They need to make a lot of changes to the bathroom and also to her bedroom which is going to be just down the hall from their own bedroom.

Fortunately, they have their own on suite so everyone will have some privacy. A $7000 loan with a 3 year term 8.9% interest rate for Jane would cost her the following per month:

Loan Amount (principal) = $7000
Interest Rate = 8.9%
Term Length = 3 year
Monthly Payment = $222.27
Total Paid Back = $8001.81
Total Interest = $1001.81

With the estimate of $7000, Jane feels they can get all of this work completed in the next month and repay the loan over three years.

They just need the loan approval so they can give the contractor the green light to get started with the work. All of these plans are great, however Jane and her husband have not set aside any money for emergencies and they do not have any savings.

They have either spent all of their extra cash or used it to pay down their mortgage. The ironic thing about this approach is that while their mortgage is relatively low, they have no savings and they got into a bit of trouble several years ago financially.

This led to the bad credit rating they now have which makes it difficult to obtain a personal loan.

Lenders are interested in low risk loans and mortgages. They may consider providing a line of credit to Jane and her husband that is secured by the equity in their home. This approach might be beneficial to everyone.

The loan gets approved at a lower interest rate, it is secured by the equity of the home which lowers the risk from the lenders perspective and they get the money they need to make the changes they need for their home.

Jane and her husband are giving this approach some consideration. However, they cannot wait too long, because mom needs to move at the end of the month whether the house is ready or not. More to come on this loan application.

If you're living in Baton Rouge like Jane, 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 Baton Rouge LA

Job/Income Upgrades: Indeed / Snag-A-Job

Education Upgrades: College / University

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Baton Rouge Credit Counseling

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Counselors contact us for listing removal or info change.

Consumer Debt Counselors
13001 Justice Ave Baton Rouge
LA 70816 - 225.295.0212
consumerdebtcounselors.com

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Available Credit Service
5687 Hollywood Crossover St, Baton Rouge
LA 70805 - 225.355.4417
availablecreditservice.com

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Virtuous Credit Solutions
11715 Bricksome Avenue Suite A3
Baton Rouge, LA 70816
virtuouscreditsolutions.org
225.508.4200

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Credit Repair Pros Baton Rouge
8032 Summa Ave Suite C, Baton Rouge
LA 70809 - www.creditrepair.com
225.230.1454

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Baton Rouge Assistance Programs

Food Bank: Greater Baton Rouge Food Bank / Address: 10600 South Choctaw Drive, Baton Rouge, LA 70815 / Phone: 225.359.9940

Hot/Cold Meals: The Society of St. Vincent de Paul Baton Rouge / Address: 220 St. Vincent De Paul Drive, Baton Rouge, LA 70802 / Phone: 225.383.7837

Shelter In Case of Eviction: Living Waters Drop In Center / Address: 3255 Hollywood Street, Baton Rouge, LA 70805 / Phone: 225.248.1054

Social Assistance Programs: Louisiana Department of Children & Family Services / Address: 627 North 4th Street, Baton Rouge, LA 70802 / Phone: 888.524.3578

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Usury Law Governing Baton Rouge LA

Summary of Louisiana Usury Law(s) / Legal: 12% / Contract: 12%; business loans any rate / Judgment: 3.75% / Corporate: Any rate (read more on Louisiana lending laws)

Complaint process for Baton Rouge residents:

Louisiana Office of Financial Institutions / Complaint Process

All complaints must be submitted in writing to: Louisiana Office of Financial Institutions / Securities Division / 8660 United Plaza Blvd., 2nd Floor Baton Rouge, LA 70809-7024 / Toll Free Number: 1-877-516-3653 (free call) / Fax: (225) 925-4511

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WFL Loan Products

Baton Rouge residents dealing with a bad credit score can read about our bad credit lender pool, OR if your rating is in the average zone, you can read about fair credit loan pool. If you're DEEP in high interest debt, please read about our debt consolidation resources.

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