Poughkeepsie NY
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This page was last updated September 2018

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Fair Credit Lenders in Poughkeepsie

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Central Hudson Employee FCU
284 South Ave, Poughkeepsie, NY 12601
845.486.5209
8AM–8PM Mon - Fri
9AM–5PM Sat
Closed Sunday

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TEG Federal Credit Union
11 Marist Dr, Poughkeepsie, NY 12601
www.tegfcu.com - 845.452.7323
9AM–6PM Mon - Fri
9AM–2PM Sat Closed Sun - Sat

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Rhinebeck Bank
3432 North Road, Poughkeepsie
NY 12601 - 845.471.4467
www.rhinebeckbank.com
8AM–5PM Mon - Fri
8AM–5PM Sat
Sunday Closed

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Riverside Bank
11 Garden St, Poughkeepsie, NY
12601 - www.salisburybank.com
845.454.5511
9AM–4PM Mon - Thu
9AM–5PM Fri
Closed Weekends

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M&T Bank
4 Jefferson St, Poughkeepsie, NY
12601 - locations.mtb.com
845.485.6404
9AM–4PM Mon - Thu
9AM–6PM Fri
9AM–1PM Sat
Closed Sunday

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Bad Credit Loan Application Form

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

Learn about GAP (Gift Angel Program)

Poughkeepsie Lender Service Area Map

Poughkeepsie Bad Credit Lenders Map - Initial Static Image

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Poughkeepsie 5x5 Loan App Volume

Top 5 Poughkeepsie neighborhoods for loan application volume in the last 5 months. Source: WFL Lender Pool. Updated: Monthly.

  1. Colonial Heights
  2. Crown Heights
  3. Marist College
  4. Red Oaks Mill
  5. Spackenkill

The Bardavon Theater in Poughkeepsie NY: Licensing

Poughkeepsie Consolidation Loan

Sandra was desperate to consolidate all of her debt. She wanted to borrow at least $15,000 quickly. The penalty fees and the huge increase in her credit card APR was sinking her fast. Something had to be done and she felt a strong sense of urgency every second of every minute of every hour of every day.

It was a really bad time for her, and for a lot of reasons.

She believed that a debt consolidation loan was the silver bullet answer. She was praying she could find a willing lender or empathetic financial institution to take a chance on her. After all, she's a good and honest person who just had some bad breaks along the way. Her credit score at the time hovered at 530 on average when she took into account what the major credit reporting agencies were telling her (Equifax, TransUnion, Experian and Innovis).

She was working diligently to increase her credit score so that she could get the lowest rate possible on a consolidation loan. But it wasn't easy. Her score was drastically hit because of her daughter's medical problems. Her three old daughter had cancer and the chemotherapy treatments ruined her teeth. The insurance company through her employer covered most of the treatments (thank God) but not all. Her daughter's cancer went into remission (thank God again) and after all said and done Sandra owed just over $2000 more. So now they had to deal with getting her daughter's teeth fixed.

She had some money sent to her from her father who lives in Florida. That money looked after the remainder of the bills from the hospital treatments and gave her a $7000 dollar buffer towards the coming dental work. BUT, the dental cost around $22,000 when she was all done.

She didn't have the money in savings so she got approved for seven different credit cards. She maxed out all the cards at close to $2500 each so of course she couldn't really service the debt on all of them. She had a good job working as a paralegal but even with her salary she couldn't keep up with all the bills and payments each month.

She could manage the minimum payments on all the cards for a time, but then her car was totaled in an accident. She was wondering why this avalanche of misfortune was descending upon her.

She was'nt the one driving the car. It was her mother who borrowed it to drive into NYC for a shopping trip. Her mom walked away with minor scratches and bruises but the car was done for. Once again, the insurance company didn't provide full coverage (Sandra doesn't trust any insurance company anymore) and she was going to have to come up with another $4000 if she wanted to have safe and reliable transportation for her commutes to work and back.

So at this point in Sandra's story I'm sure you get the idea. It was just "one damn thing after another" as Arnold Toynbee and Winston Churchill reminded the world. She felt like she was cursed. She wondered what she did to deserve all this bad luck.

Coming up with a debt consolidation loan for $15000 was looking to be impossible because of her damaged FICO score, and she started looking online for angel loan providers. She was told to try making a CrowdFunding page to solve her problem, but just couldn't handle the public exposure. She's a very private person and didn't want their family's intimate life posted online. It's unfortunate she didn't go forward with the idea though - it's becoming more popular these days.

She decided she would try out our service and filled out a quick application sending her story to all of the lenders in our pool who service Poughkeepsie and surrounding areas.

Her story was heartbreaking and she was offered a loan from two different private lenders. She emailed back the lenders to see what her best option would be. With her mother's advice she took the offer that had the most flexible terms and the lowest monthly payments.

Sandra's estimated calculations using our loan calculator:

  • Principal = $15000
  • Interest Rate = 11.3%
  • Term Length = 5 year
  • Monthly Payment = $328.39
  • Total Paid Back = $19,703.1
  • Total Interest paid out = $4703.1

You can see above Sandra's new situation. She paid off all her credit cards in full and got rid of all but one of them. She kept her Citibank card. Her new interest rate on the consolidation loan was much lower than what she was paying on all her cards.

Now we can only hope that she is diligent in sticking to a budget, and that the her luck change for the better going forward.

UPDATE: Sandra was recently married to a nice man who owns a successful practice in Poughkeepsie. Her and her three children moved into his house and they were married in the summer of 2017. It's nice to see a happy ending.

P.S. - her new husband wrote a check and paid of her private lender in full. Seems her luck DID change for the better.

If you live in the Poughkeepsie NY and you need a loan regardless of a bad credit rating we hope our website helps you in some way.

Sincerely,

Andy Somerset

Andy Somerset is the son of Lance Somerset who founded the We Find Lenders Pool. He writes for WeFindLenders.com whenever he's not working hard on his degree in finance.

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Employment & Education Advancement Opportunities in Poughkeepsie NY

If you live in Poughkeepsie and you're struggling with making ends meet, you may consider advancing your education and/or finding a higher paying job. We've provided some links here to help with that.

Job Upgrade: Indeed / Monster

Education Advancement: College / University

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Credit Counseling In Poughkeepsie NY

Poughkeepsie Credit Counsellors Map - Initial Static Image

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1.) Bencharge Credit Service of New York / 237 Main Street / Poughkeepsie, NY 12601 / 845.471.2500

2.) A American Debt Consolidation / 307 Main Street / Poughkeepsie, NY 12601 / 845.486.4375

3.) Hudson Valley Federal Credit Union / 137 Boardman Rd / Poughkeepsie, NY 12603 / 845.462.0567

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Poughkeepsie Assistance Programs

Food Bank: Dutchess Outreach / Address: 29 N Hamilton Street #1, Poughkeepsie, NY 12601 / Phone: 845.454.3792

Homeless Shelter In Case of Eviction: Hudson River Housing / Address: 391 Manchester Road, Poughkeepsie, NY 12603 / Phone: 845.483.0842

Social Assistance Programs: Dutchess County Support Collection / Address: 60 Market Street, Poughkeepsie, NY 12601 / Phone: 845.486.3000

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Usury and Regs. Governing Poughkeepsie

New York State's official website for consumer lending laws.

Summary of New York State Usury Law (that Poughkeepsie lenders must adhere to) / Legal: 16% Contract: 6% but not clear as per the New York State documentation / Judgment: 9% / Corporate: No rate specified.

To learn how you can file a complaint, and/or learn more about the legal code(s) and laws pertaining to consumer financial services in the State of New York go here.

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WFL Loan Product Menu

  • Bad credit scores below FICO 650
  • 200+ lenders review your pre-application(s)
  • Applying does not worsen your credit score
  • Interest rates starting as low as 9% (cs)
  • Collateral not always required
  • Funding between 24 hours and 5 days
  • Terms from 6 months to 10 years
  • Borrow between $500 and $50,000
  • Loans for people with 650+ credit scores
  • 500+ lenders can review your application
  • Interest rates starting as low as 7% (cs)
  • Fast approvals and fast funding
  • Line of credit approvals with reasonable APR
  • Borrow between $500 and $150,000
  • Lenders who provide bad credit consolidation
  • Debt settlement or debt relief services
  • 300+ lenders can review your application
  • Interest rates starting as low as 7% (cs)
  • Seamless approval and funding process
  • Debt relief counseling available
  • Borrow form $5000 - $150,000

 

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