Erie PA
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Pennsylvania Lenders > Erie

This page was last updated September 2018

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Fair Credit Lenders in Erie

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Erie Federal Credit Union
1109 E 38th St Erie
PA 16504 - www.eriefcu.org
814.825.2436

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Erie Federal Credit Union
3503 Peach St, Erie
PA 16508 - www.eriefcu.org
814.825.2436

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Erie Community Credit Union
1129 State St, Erie
PA 16501 - www.erieccu.org
814.455.6400

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Erie Community Credit Union
2165 W 21st St, Erie
PA 16502 - www.erieccu.org
814.452.2152

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Tri State Rail FCU
110 W 13th St, Erie
PA 16501 - 814.455.0092
www.tristaterailfcu.com

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Marquette Savings Bank
920 Peach St, Erie
PA 16501 - 814.455.4481
www.marquettesavings.bank

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Huntington Bank
2185 W 12th St, Erie
PA 16505 - www.huntington.com
814.455.8011

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Northwest Savings Bank
1030 State St # 1, Erie
PA 16501 - www.northwest.com
814.456.0296

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First National Bank
711 State St, Erie
PA 16501 - 814.871.1700
locations.fnb-online.com

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ErieBank
2302 W 12th Street Erie
PA 16505 - 814.455.8790
www.eriebank.bank

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Bad Credit Loan Form for Erie PA

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Accessing Bad Credit Lender Pool (?)

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Erie PA Lender Service Area Map

Erie Bad Credit Lenders Map - Initial Static Image

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Erie 5x5 Loan App Volume

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

  1. Robison Road West
  2. Perry
  3. Lake Shore
  4. Grandview
  5. Prospect/Wagner

Erie Land Lighthouse in Erie Pennsylvania: Licensing/Credit

Bad Credit Loan in Erie PA

Christiane is looking for a loan to help pay for repairs to her home after a storm ripped through her town and caused a lot of damage.

Normally it would not be a problem for someone to obtain a small loan of this size, but Christiane has a bad credit rating and she is having difficulty finding someone to lend her the money she needs.

In Cristiane’s situation a number of events all came together at the same time. She did not pay attention to her finances as much as she should have and now she has a bad credit rating and storm damage that she needs to repair before the rain and wind do more damage to her home.

She forgot to pay a number of bills three months in a row. She paid them all but not before getting annoying phone calls and letters reminding her that she needed to pay what she owed.

She never planned to not pay the bills, it was just that she was distracted and focused on other things. Regardless of the reason, the companies she owed money to, took this non payment very seriously and initiated collection procedures against her.

By the time they had her attention, they had also reported to credit bureaus that she was negligent in meeting her monthly payments and her credit score tumbled.

Now with this kind of record, lenders do not want to take a chance. They feel that there is a strong probability that they will have to initiate collection procedures against her which costs money and eats into profit.

She needs $4k to repair her home and she has a bad credit rating. She is wondering how she will make repairs. She also does not have any emergency savings to dip into to cover such items.

A $4000 loan with an three year term and 9.1% interest rate for Christanne would cost her the following per month:

• Loan Amount (principal) = $4000
• Interest Rate = 9.1%
• Term Length = 3 year
• Monthly Payment = $127.39
• Total Paid Back = $4585.87
• Total Interest = $585.87

Christiane has really had to learn a tough lesson. Now she knows that you must pay attention and pay your bills on time or suffer a bad credit rating which will impact future loan applications.

She was able to eventually find a lender willing to advance a loan to her, however they immediately placed a lien against her home which she had to pay for.

On top of the interest charges she will pay, she is also required to pay for these fees as well to ensure that she will not default on the loan.

She also guaranteed that if she misses any payments, she will pay added fees for collection of the overdue payments.

These are tough and expensive fees; however, this is one of the impacts that having a bad credit rating can have. In Christiane’s case all of her other credit rating factors are ok so she would normally qualify for a loan easily.

Next time she will pay a lot more attention to meeting her financial commitment on time each month. No more late payments!

If you live in the Erie PA and you need a loan regardless of a bad credit rating we hope our web site 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 Erie PA

If your living in Erie PA, and dealing with financial issues, consider advancing your education and/or finding a higher paying job.

Job Upgrade: Indeed / Monster

Education Advancement: Technology / University

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Credit Counseling In Erie PA

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Advantage Credit Counseling Service
4402 Peach St Erie
PA 16509 - 866.699.2227
www.advantageccs.org


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Advantage Credit Counseling Service
2403 Sidney St Suite 400, Pittsburgh
PA 15203 - www.advantageccs.org
866.699.2227

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123 Credit & Debt Counseling
(serving Erie PA)
Erie, PA 16501 - 814.455.3173

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Erie Assistance Programs

Food Bank: Second Harvest Food Bank of Northwest Pennsylvania / Address: 1507 Grimm Drive, Erie, PA 16501 / Phone: 814.459.3663

Hot/Cold Meals: Erie City Mission Soup Kitchen / Address: 102 East 11th Street, Erie, PA 16501

Shelter In Case of Eviction: The Upper Room of Erie / Address: 1024 Peach Street, Erie, PA 16501 / Phone: 814.459.6315

Social Assistance Programs: Greater Erie Community Action Committee / Address: 18 West 9th Street, Erie, PA 16501 / Phone: 814.459.4581

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Usury and Regs. Governing Erie

Pennsylvania State's official website for consumer lending laws.

Summary of Pennsylvania State Usury Law (that Erie lenders must adhere to) / Legal: 6% to $50,000 Contract: 6.5% / Judgment: 6% / Corporate: No specific rate / 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 Pennsylvania 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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