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This page was last updated November 2018

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Fair Credit Lenders in Lewiston ME

Lenders: contact us for listing removal.

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Central Maine FCU
1000 Lisbon St Lewiston
ME 04240, 207.777.6202
www.centralmainecu.com

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Maine Family FCU
555 Sabattus St, Lewiston
ME 04240, 207.783.2071
www.mainefamilyfcu.com

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Community Credit Union
144 Pine St, Lewiston
ME 04240, 207.783.2096
communitycreditunion.com

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Lewiston Municipal FCU
291 Pine St, Lewiston
ME 04240, 207.783.3991
www.lewistoncu.com

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Dirigo FCU
6729, 381 Main St
Lewiston - ME 04240
www.dirigofcu.com
207.784.5435

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Great Falls Regional FCU
34 Bates St, Lewiston
ME 04240, 207.782.7192
www.greatfallsfcu.com

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Five County Credit Union
35 Ash St, Lewiston
ME 04240, 800.750.0959
www.fivecounty.com

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Rainbow Federal Credit Union
391 Main St, Lewiston
ME 04240 - www.rainbowfcu.com
207.784.5435

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Sabattus Regional Credit Union
2 Middle Rd, Sabattus
ME 04280 - www.srcu4u.com
207.375.6538

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Androscoggin Bank
505 Sabattus Street Lewiston
ME 04240, 207.777.6644
www.androscogginbank.com

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Bad Credit Loans in Lewiston ME

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

Learn about GAP (Gift Angel Program)

 

Lewiston ME Lender Area Map

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Lewiston ME Loan App Volume

Top 5 Lewiston neighborhood loan app volume

  1. New Gloucester & Pownal
  2. Auburn
  3. Montello Street/Central Avenue
  4. Canal Street/Can Street Aly
  5. Lisbon Street/Webber Avenue

Basilique Saint-Pierre et Saint-Paul in Lewiston ME: Licensing

Lewiston Bad Credit Loan Example

Mike has a number of small loans that all have a high interest rate. He feels that he is paying much more interest than he really should. He would like to consolidate them into one loan and one payment based on a lower interest rate.

The problem for Mike is that he has a bad credit score. Too many loans, too many missed payments on utilities and credit cards and just poor attention to handling his money all contributed to a bad credit rating.

Obtaining a loan in a bad credit situation can be more difficult for many people. Most banks will not even give you an appointment let alone approve a loan.

They just are not into taking on what they perceive to be high risk clients. They have lots of other business to consider with clients that are low risk and willing to pay the low interest rates they are charged.

Mike was considering payday loans until he found out just how expensive a payday loan can be. This type of loan really did not meet his needs and was going to be far too expensive as well. He might as well stay with the current loans and pay the interest he is currently being charged.

What Mike needs is a $9000 loan spread over a four year term with as low an interest rate as he can get. Current rates that he might be considered for are in the range of 8%, which is much lower than his current interest rate on his existing loans.

A $9000 loan with a 4 year term 7.9% interest rate for Mike would cost him the following per month:

Loan Amount (principal) = $9000
Interest Rate = 7.9%
Term Length = 4 year
Monthly Payment = $219.29
Total Paid Back = $10526.12
Total Interest = $1526.12

In terms of employment, Mike has a descent well paying job. He has been there for over two years and it appears he has a stable job with the opportunity for long term employment. Mike's real problem is that he does not pay a lot of attention to paying his bills.

Before this loan can be approved, Mike will need to provide a checking account number for the loan proceeds to be deposited to. Each loan payment will also be withdrawn from this same account.

In fact, we recommend to Mike that he make arrangements for all of his regular monthly payments be paid automatically. This arrangement will ensure that he never misses a payment again. He just needs to make sure there are sufficient funds in the account to cover all payments.

Following this approach will bring some discipline to Mike's monthly payments. His pay check will also be auto deposited to the same checking account.

Mike needs to provide documentation supporting the various loans that he intends to repay. In fact, the lender is willing to pay the loans on his behalf to ensure that the money goes to the right place.

He will be on the hook to pay all monthly payments for this loan. If he successfully repays the loan, he should see an improvement in his credit score.

If you're living in Lewiston like Michael, 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 Lewiston ME

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

Education Upgrades: College / University

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Lewiston Credit Counseling

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Counselors contact us for listing removal or info change.

Pine Tree Legal
95 Park St #301 Lewiston
ME 04240 - ptla.org
207.784.1558

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Gosselin & Dubord
7106, 86 Lisbon St
Lewiston - ME 04240
www.gosselindubord.com
207.783.5261

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Lewiston Assistance Programs

Food Bank: St. Mary's Food Pantry / Address: 208 Bates Street, Lewiston, ME 04240 / Phone: 207.513.3841

Hot/Cold Meals: Trinity Jubilee Center / Address: 247 Bates Street, Lewiston, ME 04240 / Phone: 207.782.5700

Shelter In Case of Eviction: St. Martin De Porres / Address: 23 Bartlett Street, Lewiston, ME 04240 / Phone: 207.786.4690

Social Assistance Programs: Lewiston Social Services Department / Address: Lewiston, ME 04240 / Phone: 207.513.3130

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Usury Law Governing Lewiston ME

Summary of Maine Usury Law(s) / Legal: 6% / Contract: No maximum on commercial if in writing / Judgment: 8% up to $30,000 / Corporate: No specific rate (read more on Maine lending laws)

Complaint process for Lewiston residents:

Maine of Financial Regulations / Maine Complaint Process / Maine Complaint Form

Or call: 207-624-8551 toll free anywhere in the State Maine @ 877-624-8551 / Physical Address: Department of Professional & Financial Regulation / Office of Securities / 121 State House Station, Augusta, Maine 04333

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WFL Loan Products

Lewiston 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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