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Mississippi Lenders > Meridian

This page was last updated June 2020

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Fair Credit Lenders in Meridian MS

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Meridian Mutual FCU
809 26th Ave, Meridian, MS 39301
www.meridianmutualfcu.com
601.693.1900

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Muna Federal Credit Union
4400 MS-39, Meridian, MS 39301
www.munafederal.com
601.693.8563

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1st Mississippi Federal Credit
600 19th Ave, Meridian, MS 39301
www.1stms.com
601.693.6873

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Meridian Ms Angfcu
6503 M St #305, Meridian, MS 39307
www.meridianangfcu.org
601.483.7307

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First Heritage Credit
2680 N Hills St, Meridian, MS 39305
www.1stheritagecredit.com
601.485.0700

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Navy Federal Credit Union
255 Rosenbaum Ave Ste 164, Meridian, MS 39309
www.navyfederal.org
888.842.6328

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Acceptance Loan Company
93 S Frontage Rd #400, Meridian, MS 39301
www.acceptanceloan.com
601.484.6334

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Meridian Tower Loan
832 Hwy 19 N # 520, Meridian, MS 39307
www.towerloan.com
601.693.4663

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Meridian Money Now
2209 Old Hwy 45 N A, Meridian, MS 39301
www.moneynow.net
601.483.1143

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Meridian 1st Franklin Financial
4820 Poplar Springs Dr Suite C, Meridian, MS 39305
locations.1ffc.com
601.483.9700

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Bad Credit Loans in Meridian MS

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

Learn about GAP (Gift Angel Program)

 

Meridian MS Lender Area Map

Meridian Bad Credit Lenders Map - Initial Static Image

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Meridian MS Loan App Volume

Top 5 Meridian neighborhood loan app volume

  1. Eastside
  2. Briarwood
  3. Northwood/Poplar Springs
  4. Zero/Causeyville Road Area
  5. Suqualens North

Meridian Museum of Art: Source

Meridian Bad Credit Loan Example

Joel is looking for a combination consolidation loan and a car loan. He is buying another car and he also has credit card debt that he would like to add to the loan.

He needs twenty five thousand for the car he wants to buy and another five thousand for the credit card debt that he would like to add to the loan.

The credit card debt is pretty straight forward. He spent some money on repairs for his existing car and also bought materials for his home.

He is doing some renovation work around the home and charged the materials and the car repairs to his credit card.

He could probably pay his credit card debt in a few months, however if he can avoid paying some of the interest on his credit card, he will save a few hundred dollars.

He and his wife feel they need a second car. He has a chance to purchase a used car from a buddy of his. It has been well taken care of and really is in like new condition.

His buddy has all of the maintenance paperwork for it and the car is still under warranty for another six months.

He can use the warranty to do any repairs that are needed, although at the moment there are no recalls on file and everything is up to date. He plans to use the car as security for the loan.

A $30000 loan with a five year term and 2.7% interest rate for Joel would cost him the following per month:

• Loan Amount (principal) = $30000
• Interest Rate = 2.7%
• Term Length = 5 year
• Monthly Payment = $535.07
• Total Paid Back = $32104.23
• Total Interest = $2104.23

Joel wants to use the car he is buying as security for the loan he has applied for. Unfortunately, the value of the car is less than the value of the loan he has applied for.

As a result, lenders would not agree to accept the car as security. Even though he is purchasing the car at below market value the number that is used for this purpose of loan approval is the lower of two numbers - market value or purchase price.

As a result, Joel has decided to use the equity in his home to cover the collateral he needs to support a low interest loan. Although approval of the loan will take longer this is probably the best approach if he wants a low interest loan.

He will need his home appraised and based on the appraised value, his loan will be added as a lien against his home. There will also be appraisal fees and processing fees which Joel might not have been aware of.

All of the other factors that are typically considered for a loan of this size have been considered. These include income, credit utilization, credit score, cash flow and equity value in his home were evaluated. Joel and his wife provided all of the information needed and his application is being considered.

If you're living in Meridian like Joel, 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 Meridian MS

Job/Income Upgrades: Indeed / CareerBuilder

Education Upgrades: College / University

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Credit Counseling Near Meridian

Meridian Credit Counsellors Map - Initial Static Image

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Counselors contact us for listing removal or info change.

Consumer Credit Counseling Services
Meridian, MS 39301
www.consumercredit.com
601.483.6241

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Dlv Partners Credit Repair
1426 52nd Ave, Meridian, MS 39307

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Meridian Non-Profit Services

Food Bank: Wesley House Community Center / Address: 1520 8th Avenue, Meridian, MS 39301 / Phone: 601.485.4736

Hot/Cold Meals: Feed By Faith / Address: 3401 5th Street, Meridian, MS 39301 / Phone: 601.483.8999

Shelter In Case of Eviction (nearest Meridian): Salvation Army Men's Shelter / Address: 710 B St, Meridian, MS 39301 / Phone: 601.286.3016 / Hope Village For Children / Address: 2433 23rd Avenue, Meridian, MS 39301 / Phone: 601.553.8660

Social Assistance Programs: Human Services Department / Address: 2911 8th Street, Meridian, MS 39301 / Phone: 601.359.4500

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Usury Law Governing Meridian 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 Meridian 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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WFL Loan Products

Meridian residents who require a fresh start with a bad credit loan to rebuild credit learn more here. Or, perhaps your score is just fair - you can learn more here. If you're in debt way over your head, you can learn about our debt consolidation solutions here.

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