Biloxi MS
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Mississippi Lenders > Biloxi

This page was last updated December 2020

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Best Bad Credit Loans for 2020

Fair Credit Lenders in Biloxi MS

Lenders: contact us for listing removal.

Biloxi Coastal Credit Union
1042 E Howard Ave, Biloxi, MS 39530
www.coastalcu.net
228.432.0284

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Keesler Federal Credit Union
7503, 107 Galaxy St, Biloxi, MS 39534
www.kfcu.org
228.385.5500

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Biloxi Hope Credit Union
188 Porter Ave, Biloxi, MS 39530
hopecu.org
228.374.1667

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Biloxi Credit Union South
# 18, 2410, 400 Veterans Ave, Biloxi, MS 39531
www.creditunionsouth.com
228.388.5040

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Harrison County PO Employees CU
1976 Popps Ferry Rd, Biloxi, MS 39532
postofficecu.com
228.896.0038

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Gulf Coast Community FCU
11522 Cinema Dr, D'Iberville, MS 39540
www.gulfcoastcommunityfcu.com
228.539.7029

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Biloxi Schools Credit Union
1455 Father Ryan Ave, Biloxi, MS 39533
www.biloxischools.net
228.436.5126

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Biloxi Money Now
2458 Pass Rd, Biloxi, MS 39531
www.moneynow.net
228.385.2888

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Acceptance Loan Company
3179 Mallett Rd, D'Iberville, MS 39540
www.acceptanceloan.com
228.396.5601

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Biloxi Republic Finance
3200 Mallett Rd Ste. D1, D'Iberville, MS 39540
www.republicfinance.com
228.392.0004

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Bad Credit Loans in Biloxi MS

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)
Learn about GAP (Gift Angel Program)

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Biloxi MS Lender Area Map

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Biloxi MS Loan App Volume

Top 5 Biloxi neighborhood loan app volume

Presidential Library Biloxi MS: Source

Biloxi Bad Credit Loan Example

John has been struggling with employment for the past few years. He was laid off his job a year ago.

He had been at this company for over 20 years. He has been looking for full time employment ever since, although he has worked several small contracts and has even worked at Walmart to make some money while he looked for work in his career area.

It has been very frustrating and now he feels that he needs a consolidation loan to place all of his debts in one low interest loan.

His credit score is good. He has made sure that he always pays his bills on time and has never missed a payment. He knows that without stable income, it will be more difficult to obtain a loan of this size.

He has applied for several jobs and he feels that his current application in his career area has a strong probability of succeeding.

He has gone for several interviews and has one more with the chief financial officer. He is on the short list and expects to hear with the next few days whether he has the job or not.

At the present time, he has several credit cards that are max’d out totaling $20k with statement due dates in the next few weeks.

With limited income, several emergencies and emergency savings gone, John had no choice but use his credit cards for groceries and cash advances to pay utilities.

He can pay the minimum monthly payment, however, this will initiate interest charges at the prevailing high interest rates that credit cards charge. He needs $20k to consolidate this credit card debt this week.

A $20000 loan with a five year term and 7.7% interest rate for John would cost him the following per month:

• Loan Amount (principal) = $20000
• Interest Rate = 7.7%
• Term Length = 5 year
• Monthly Payment = $402.66
• Total Paid Back = $24159.75
• Total Interest = $4159.75

John is indeed in a difficult situation. Although he has a good credit score and has always paid his bills on time, he is not in a good position to be approved for a consolidation loan.

With no income at this time, he would have difficulty paying the monthly loan payment let alone his normal living expenses for utilities and groceries.

Although John feels that he has a good shot at this current job he is being interviewed for, he still does not have a job and cannot be counted as income until he actually gets the job.

Once he has been hired and the company is willing to provide documentation supporting his hiring and salary level, most lenders will consider his loan.

At the present time no lender is willing to consider his application.

One week later after this application was originally submitted, John was offered the job he had applied for and he starts immediately.

He has resubmitted his application for a consolidation loan and provided documentation for the job he was just hired for. His application for the consolidation loan will be reassessed.

Looks like John’s year of unemployment is over and he can begin recovering his financial health again.

If you're living in Biloxi like John, 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 Biloxi MS

Job/Income Upgrades: Indeed / CareerBuilder

Education Upgrades: College / University

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Credit Counseling Near Biloxi

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Counselors contact us for listing removal or info change.

Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Biloxi Non-Profit Services

Food Bank: Twelve Baskets Food Bank / Address: 333 Cowan Road, Gulfport, MS 39507 / Phone: 228.822.0836

Hot/Cold Meals: Loaves & Fishes / Address: 610 Water Street, Biloxi, MS 39530 / Phone: 228.436.6172

Shelter In Case of Eviction (nearest Biloxi): Gulf Coast Rescue Mission / Address: 2750 Mission Lane, Biloxi, MS 39531 / Phone: 228.388.3884

Social Assistance Programs: Catholic Social & Community Services / Address: 800 Division Street, Biloxi, MS 39530 / Phone: 228.374.6588

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Usury Law Governing Biloxi MS

Summary of Mississippi Usury Law(s) / Legal: 8% / Contract: 11%; 15% on organizational loans over $2,000 / Judgment: 8% / Corporate: 15% over $2,500 (read more on Mississippi lending laws)

Complaint process for Biloxi residents:

Mississippi Department of Banking and Consumer Finance / Mississippi Complaint Process / Complaint Form (PDF)

Physical Address: Department of Banking and Consumer Finance / PO Box 12129, Jackson, MS 39236-2129 / Phone: 601.321.6901 / Fax: 601.321.6933 / Toll free: 800.844.2499

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