Fair Credit Lenders in Jackson MS
Lenders: contact
us for listing removal.
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Jackson Area Federal Credit Union
5675 MS-18 Jackson
MS 39209, 601.922.7055
www.jacksonareafcu.com
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Mississippi Public Employee CU
613 S West St, Jackson
MS 39201 - www.mspecu.org
601.948.8191
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Magnolia Federal Credit Union
240 Briarwood Dr, Jackson
MS 39206 - www.magfedcu.org
601.977.8300
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Mississippi Federal Credit Union
100 Alumni Dr, Jackson
MS 39216 - msfcu.us
601.351.9200
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Jackson Area Federal Credit Union
7375 S Siwell Rd, Jackson
MS 39212 - www.jacksonareafcu.com
601.373.8465
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Mississippi DHS Federal Credit Union
767 N President St, Jackson
MS 39202 - www.msdhsfcu.com
601.354.6544
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Mississippi Hwy Safety Patrol FCU
1900 E Woodrow Wilson Ave, Jackson
MS 39216 - www.mhspfcu.com
601.987.1290
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Eagle Express Federal Credit Union
567 State St, Jackson
MS 39201, 601.355.6363
www.eagleexpressfcu.com
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Hope Credit Union
1748 University Blvd, Jackson
MS 39204 - hopecu.org
601.965.7100
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Keesler Federal Credit Union
401 N West Street Jackson
MS 39201 - www.kfcu.org
228.385.5500
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Bad Credit
Loans in Jackson MS
Jackson MS Lender
Area Map
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map.
Jackson MS Loan App
Volume
Top 5 Jackson
neighborhood loan app volume
- Fondren District
- Downtown Jackson Area
- West Capitol Street Historic District
- Mid North District
- Farish Street
Cherry & Spoon in Jackson Mississippi:
Licensing
Jackson Bad Credit Loan Example
Andrew was certainly in a pickle. His personal finances
had gone to seed in the last three years. He had gone through a divorce
and dealt with some serious health problems.
All of this added up (or should I say down), and he found
himself in a situation where he had far too much debt.
He had no realistic way of servicing all of his debt either.
He had alimony and child support payments to contend with as well as some
hospital stay bills that were long overdue.
Andrew was now in a situation whereby he couldn't even
go see his beloved Mississippi Braves. He couldn't afford to even go out
to the park for a home game, let alone see them on the road like he used
to.
So he had to find a solution. He naturally looked into
getting a loan so he could consolidate all of his debts and pay off all
his creditors at the same time.
He did the math on what he was going to need, and we're
showing those calculations below with the interest rate. Of course this
is just the raw math and doesn't include services fees his lender charged
him for the term of the note.
Loan Amount = $70,000
Interest Rate = 7.39%
Term Length = 5
Monthly Payment = $1399
Total Paid Back = $83,940.02
Total Interest = $13,940.02
You can see now that with the interest rate he got at
7.39% it was a fairly reasonable transaction. He was approved for this
loan using the WFL lender pool service because his credit score wasn't
ideal. His Equifax score was 689, his Transunion score was 695, and his
Experian credit score was 705 at the time of his approval.
Not the worst credit score, so he would likely have been
labeled by lenders as an "average risk consumer".
In Andrew's case he wasn't a risk at all. He made all
of his payments on time and was right on top of it. He was thankful to
find a private lender that took into consideration his past credit score
before his health issues and his divorce.
It was clear to this lender that he wasn't likely to default
on his payments. After all he had a steady job for over 20 years with
the same Birmingham construction company!
This is why major banks sometimes drop the ball. People
shouldn't be judged as "high risk" when you can clearly see
it's not in the borrower's nature to purposely default on their obligations.
People shouldn't be consider high risk just because of
a number for crying out loud. Here at WFL we encourage lenders to consider
MANY factors when making a decision on a borrower's request for a loan.
And we're making some headway. We now have 554 lenders
in our bad credit lender pool, and we worked very hard to find these lenders.
Some are private lenders, some are credit unions, and some are even conventional
financial institutions who are beginning to see the light.
The vast majority of people with bad credit scores don't
want to be there. They want a fresh start, and work hard to make sure
their payments are being made in full and on time.
So this was a good outcome for Andrew. He got rate much
lower than his prior credit cards and personal loans. He ended up getting
rid of his credit card stash and settled on just two credit cards (his
Citibank card and his Credit Union Visa card).
If you're living in Jackson like Andrew,
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 Jackson MS
Job/Income Upgrades: Indeed
/ Monster
Education Upgrades:
College / University
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Jackson
Credit Counseling
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map.
Counselors contact
us for listing removal or info change.
Lexington Law
234 E Capitol St Jackson
MS 39201 - www.lexingtonlaw.com
833.333.8177
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Consumer Credit Counseling Services
3000 Old Canton Rd #550, Jackson
MS 39216 - credit.org
601.969.6431
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Federal Resources
FTC
Budget PDF / USA.GOV Debt Info
Jackson Non-Profit Services
Food Bank: Mississippi
Food Network / Address: 440 West Beatty Street, Jackson, MS 39201 / Phone:
601.353.7286
Hot/Cold Meals: Stewpot
Community Services / Address: 1100 West Capitol Street, Jackson, MS 39203
/ Phone: 601.353.2759
Shelter In Case of Eviction:
Billy Brumfield Men's Shelter / Address: 1244 South Gallatin Street, Jackson,
MS 39201 / Phone: 601.948.2864 / Partners To End Homelessness / Address:
360 Comet Drive C, Jackson, MS 39206 / Phone: 601.213.5301
Social Assistance Programs:
Mississippi Department of Human Services / Address: 750 North State Street,
Jackson, MS 39202 / Phone: 601.359.4500
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Usury Law Governing
Jackson 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 Jackson 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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