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Massachusetts Lenders > Boston

This page was last updated November 2018

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Fair Credit Lenders in Boston MA

Lenders: contact us for listing removal.

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Metro Credit Union
1071 Massachusetts Ave Boston
MA 02118 - www.metrocu.org
877.696.3876

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City of Boston Credit Union
200 Nashua St, Boston
MA 02114 - www.cityofbostoncu.com
617.635.4545

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Mass Bay Credit Union
147 W 4th St, South Boston
MA 02127 - www.massbaycu.org
617.269.2700

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First Priority Credit Union
100 Swift St, Boston
MA 02128 - www.firstprioritycu.com
617.482.4787

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Liberty Bay Credit Union
131 Oliver St, Boston
MA 02110 - www.libertybaycu.org
617.439.6500

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American Airlines Credit Union
300 Airport Road Terminal C
MA 02128 - www.aacreditunion.org
617.561.0625

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Harvard University Employees CU
149 13th St, Charlestown
MA 02129 - www.huecu.org
617.495.4460

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Hanscom Federal Credit Union
5 Post Office Square #340, Boston
MA 02109 - www.hfcu.org
617.412.4869

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Roxbury Branch
2029 Centre St, Boston
MA 02132 - www.bosfirecu.com
617.288.2420

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Taupa Lithuanian FCU
368 W Broadway South Boston
MA 02127 - www.taupaboston.com
617.269.1450

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Bad Credit Loans in Boston MA

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

Learn about GAP (Gift Angel Program)

 

Boston MA Lender Area Map

Boston Bad Credit Lenders Map - Initial Static Image

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Boston MA Loan App Volume

Top 5 Boston neighborhood loan app volume

  1. South End
  2. Harbor Islands
  3. Boston Common
  4. Four Corners
  5. Codman Sq

Old South Meeting House Boston Massachusetts: Licensing

Boston Bad Credit Loan Example

Michael in Massachusetts really needed to buy some critical welding equipment. He is a private contractor working in the Boston area and he relies on his equipment to make sure he his work is up the standards set by the State, and the companies who employ his services.

He has a brand new diesel work truck (Dodge) that works beautifully. It was brand new at the time of his loan application. The problem being that his old Miller equipment packed it in.

He knew his truck had to be replaced with a newer model, AND he knew his welding equipment was hurting too. Unfortunately, he didn't have enough credit to buy everything new. At the time of his application hew was "fit to be tied". He HAD to have a perfect truck and welding unit so he could start a huge project for the city. This contract was going to keep his business flush with cash for three years!

He couldn't mess around with this. He had buy a brand new Miller Welding unit or he was running the risk of losing this lucrative contract.

Michael had some problems with money because he has just recovered from a gambling addiction that wiped out all of his savings. Furthermore, his wife of 6 years had recently left him and as per a court order, he had to pay his wife alimony, and child support. With all that and his own apartment rental costs, etc., he fell behind on his credit card payments and his line of credit payments with his business.

It was perfect storm that wipes out a lot of people and sends them down into the valley of eternal debt. But alas....debt is only temporary and he did find way to fix everything. Before we finish Michael's story, I should point out there was luck involved.

So with all of Michael's missed payments he was eventually punished in the form of credit score black marks. His Equifax, Experian, and Transunion scores all took a major beating. His credit card interest was hitting the 22% area (give or take a point), and he had no way to pay it all back with the way interest was compounding.

He tried with his local credit union branch to get a debt consolidation, but they turned him down. He was upfront about his gambling problems so that probably didn't help much at all.

He felt like he was at the mercy of loan sharks and predatory lenders. He couldn't find a friend, partner, or family member who was willing to lend him the money needed to but all of his work equipment. Everyone was spooked he was getting really depressed and didn't think he would ever get a loan.

Eventually he found a website that was using Lance's Bad Credit Lender Pool. He made is pre-app (see below) and made sure to tell all the lenders viewing that he had the signed contract in his hand, proving that he was going to be making a great income for the next three years working for the City of Boston.

He waited two days for lenders serving residents of Massachusetts to review his pre-app and get back to him. He had a phone call exchange, a FaceTime call, and an email communique with interested lenders. He faxed a copy of his signed contract to a private lender based out of Boston and was approved the next day.

He was funded with an interest rate of 12% which was perfect, and even better he borrowed $50,000 dollars instead of the $20K he was initially looking at borrowing.

He paid off ALL his high interest debt, got rid of all his credit cards except for his Visa card, and got his equipment installed on his new work truck. He outfitted all of his welding gear with replacements and repairs so he was 100% ready for work. He made enough money that first year working for the city of Boston, he was able to pay off the loan entirely.

If you're living in Boston like Michael, and need a loan regardless of your credit rating, we may be able to help you find a willing lender.

Sincerely,

Chris Somerset

Chris Somerset is a writer for the WFL Project.

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Upgrades Nearest Boston MA

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

Education Upgrades: College / University

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Boston Credit Counseling

Boston Credit Counsellors Map - Initial Static Image

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Counselors contact us for listing removal or info change.

Key Credit Repair
1571 686 Morton Street #2
Boston, MA 02126
www.keycreditrepair.com
617.265.7900

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Boston Credit Repair Pros
33 Arch St, Boston
MA 02110 - www.lexingtonlaw.com
617.793.2045

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MA Credit Solutions
185 Devonshire St Suite 302
Boston, MA 02110, 617.532.0729
macreditsolutions.com

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Boston Assistance Programs

Food Bank: The Greater Boston Food Bank / Address: 70 South Bay Avenue, Boston, MA 02118 / Phone: 617.427.5200

Hot/Cold Meals: Haley House Soup Kitchen / Address: 23 Dartmouth Street, Boston, MA 02116 / Phone: 617.236.8132

Shelter In Case of Eviction: The Woods-Mullen Shelter / Address: 794 Massachusetts Avenue, Boston, MA 02118 / Phone: 617.534.7101

Social Assistance Programs: Massachusetts Department of Transitional Assistance / Address: 600 Washington Street, Boston, MA 02111 / Phone: 877.382.2363

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Usury Law Governing Boston MA

Summary of Massachusetts Usury Law(s) / Legal: 5% / Contract: 9%; any rate business loans / Judgment: 9% / Corporate: Any rate allowed (read more on Massachusetts lending laws)

Complaint process for Boston residents:

Massachusetts Division of Banks / Massachusetts Complaint Process / Massachusetts Complaint Form (PDF)

Mail of fax to: Commonwealth of Massachusetts Division of Banks / Attention: Consumer Assistance Unit, 1000 Washington Street, 10th Floor, Boston, Massachusetts 02118-6400 / Phone: 617.956.1500 Fax: 617.368.2700

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WFL Loan Products

Boston 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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