Rochester NY
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This page was last updated July 2018

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Fair Credit Lenders in Rochester NY

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Genesee Co-Op Federal Credit Union
395 Gregory St, Rochester, NY 14620
www.genesee.coop
585.461.2230

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Lexington Ave Federal Credit Union
1275 Lexington Ave, Rochester, NY 14606
www.lexfcu.org
585.254.4543

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ESL Federal Credit Union
518 Ridge Rd, Rochester, NY 14621
www.esl.org
585.336.1000

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Advantage Federal Credit Union
1000 South Ave, Rochester, NY 14620
www.advantagefcu.org
585.454.5900

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Canandaigua National Bank & Trust
2075 Monroe Ave, Rochester, NY 14618
www.cnbank.com
585.242.5874

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M&T Bank
1882 East Ave, Rochester, NY 14610
locations.mtb.com
585.442.1821

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Bank of America Financial Center
1 East Ave, Rochester, NY 14638
locators.bankofamerica.com
585.546.9203

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Upstate National Bank
150 State Street, 3rd Floor, Rochester, NY 14614
www.upstatebank.com
585.454.3450

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Ukrainian Federal Credit Union - Rochester Branch
824 East Ridge Road, Rochester, NY 14621
ukrainianfcu.org
585.544.9518

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WIT Federal Credit Union
22 4th St, Rochester, NY 14609
www.witfcu.com
585.454.4580

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Bad Credit Loan Form for Rochester NY

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Rochester NY Lender Service Area Map

Rochester Bad Credit Lenders Map - Initial Static Image

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Rochester 5x5 Loan App Volume

Top 5 Rochester neighborhoods for loan application volume in the last 5 months. Source: WFL Lender Pool. Updated: Monthly. See all of New York State personal loan volume data.

  1. Strong
  2. South Wedge
  3. North Marketview Heights
  4. Susan B Anthony
  5. Central Business District

Rochester NY Skyline: Licensing

Fair Credit Loan in Rochester NY

Marg needs to come up with $9500 in the next few weeks to pay off interest free credit card debt that will come due in a few weeks.

Like many consumers, Marg took advantage of an opportunity offered by several stores to buy furniture, charge it to a store credit card and not pay any interest on the balance for one year.

The year is almost up and interest will begin to accumulate at the hefty rate of 29%! Marg clearly did not plan on paying 29% and does not have the funds to pay it in full at this time.

Any savings that she was able to obtain as part of this deal will be lost quickly if the credit card company begins charging interest on the unpaid balance.

Marg did not set aside any funds to be ready for this interest free loan when it became due. Just like many other consumers, she almost forgot about the loan until she received a reminder the other day that this free loan would end shortly.

She needs $9500 within the next two weeks to pay off the debt she is carrying on this credit card or begin paying interest on the unpaid balance.

A $9500 personal loan with a five-year term and 6% interest rate for Marg cost her the following per month:

• Loan Amount (principal) = $9500
• Interest Rate = 6%
• Term Length = 5 year
• Monthly Payment = $183.66
• Total Paid Back = $11019.70
• Total Interest = $1519.70

Marg was quickly approved for the loan at a reasonable interest rate compared to that charged by the store credit card provider. She has a fair to good credit rating and low debt load.

She feels that she will be able to repay the loan in much less time than the term she agreed to. Although it will cost a small amount of interest she did not plan on, Marg is still happy with her furniture.

She is glad she made the purchase when she did.
When asked whether she would take advantage of an interest free credit card deal again if she had the chance, she indicated yes with one exception.

The next time she said she will begin saving so that she can repay all or at least a large portion of the cost when the free interest period ended.

She is glad she was able to obtain a low interest loan, but would prefer to avoid this solution in the future. Marg is not alone in this situation.

In fact, many consumers take advantage of an interest free credit card and then find that they cannot pay the balance at the end of the interest free period.

Unlike Marg they do not always have a good credit rating and are unable to find a lender to help them. They end up paying high interest rates and the cost of the item they purchased actually balloons much higher than the funds they saved by taking the deal in the first place. It may take them years to repay this debt at such high interest rates.

If you live in the Rochester 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 Rochester NY

If you live in Rochester and you're struggling to make ends meet, consider advancements in education and employment.

Job Upgrade: Indeed / Monster

Education Advancement: College / University

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Credit Counseling In Rochester NY

Rochester Credit Counsellors Map - Initial Static Image

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Consumer Credit Counseling Service of Rochester
1000 University Ave, Rochester, NY 14607
www.cccsofrochester.org
585.546.3440

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RethinkingDebt
1000 University Ave #900, Rochester, NY 14607
www.rethinkingdebt.org
888.724.2227

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Rochester Back Tax Debt Relief
100 State St, Rochester, NY 14614
www.rochestertaxdebtrelief.com
585.563.3395

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Credit Restoration Services
45 Exchange Blvd #713, Rochester, NY 14614
www.crsofrochester.com
585.546.8428

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Rochester Assistance Programs

Food Bank: Community Food Cupboard / Address: 11 Nester Street #3, Rochester, NY 14621 / Phone: 585.325.4990

Hot/Cold Meals: St. Peter's Soup Kitchen / Address: 681 Brown Street, Rochester, NY 14611 / Phone: 585.235.6511

Homeless Shelter In Case of Eviction: Rochester Area Interfaith Hospitality Network / Address: 142 Webster Avenue, Rochester, NY 14609 / Phone: 585.506.9050

Social Assistance Programs: The Community Place of Greater Rochester / Address: 145 Parsells Avenue, Rochester, NY 14609 / Phone: 585.288.0021

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Usury and Regs. Governing Rochester NY

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

Summary of New York Usury Law(s) Pertaining to Rochester / 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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