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This page was last updated July 2020

Commentary for informational purposes only. See disclaimers here.

Best Bad Credit Loans for 2020

Fair Credit Lenders in Columbia SC

Lenders: contact us for listing removal.

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Palmetto Citizens Federal CU
1320 Washington St Columbia
SC 29201 / www.palmettocitizens.org
803.732.5000

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Caro / Smart Financial Solutions
4480 Rosewood Drive, Columbia
SC 29209 / www.smartcaro.org
803.227.5555

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Brookland Federal Credit Union
1058 Sunset Blvd, West Columbia
SC 29169 / www.brooklandfcu.org
803.794.9201

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SC Methodist Conference CU
4901 Colonial Drive, Columbia
SC 29203 / www.scmccu.org
803.691.0037

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Brookland Federal Credit Union
1058 Sunset Blvd, West Columbia
SC 29169 / www.brooklandfcu.org
803.794.9201

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Carolina Foothills Federal CU
1609 E North Street, Greenville
SC 29607 / 800.922.4403
carolinafoothillsfcu.coop

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AllSouth Federal Credit Union
730 Elmwood Avenue, Columbia
SC 29201 / www.allsouth.org
803.736.3110

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First Cooperative Credit Union
808 Knox Abbott Drive, Cayce
SC 29033 / 803.796.0234
www.1stcooperative.org

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Safe Federal Credit Union
201 12th Street, West Columbia
SC 29169 / www.safefed.org
803.796.7782

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Carolinas Telco
110 Outlet Pointe Blvd Columbia
SC 29210 / www.ctelco.org
800.622.5305

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Bad Credit Loans in Columbia SC

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)
Learn about GAP (Gift Angel Program)

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Columbia SC Lender Area Map

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Columbia SC Loan App Volume

Top 5 Columbia neighborhood loan app volume

Gonzales Obelisk Monument Columbia SC: Licensing/Credits

Columbia Bad Credit Consolidation

Can you imagine getting into an accident with your car and ending up owing almost $15000 for traffic fines, court costs, legal fees and costs for damage repairs to your car?

That is what happened to Laura when she accidently ran a stop sign, hit another car as it was going through the intersection and then hit a light pole causing damage to the car and the light pole.

Her insurance paid for the damages to the car that she hit and to the city for repairing the light pole at the intersection. She is responsible for the damages to her own car since she did not have adequate coverage for her car.

The police also fined her for running a stop sign, driving distractedly i.e. checking her text messages on her phone and driving her car while under the influence.

She decided to fight some of the charges and now she is regretting it. She should have just paid the fine. It would have cost her less money.

Now she owes about $12000 in total for court fees, her lawyer and repairs to her car. She also has a small credit card debt that she would like to consolidate on this same loan.

One monthly payment at low interest rates would be helpful at this point to minimize her overall monthly payments. She has an average credit score and a regular job with sufficient income to support her lifestyle and the loan she is applying for. She does not have any other debts.

Her car was an older model car and fully paid for.
All together she needs $15000 to cover everything and if she can arrange for a low interest loan spread over 4 or 5 years, she will be able to manage the monthly payments quite nicely. The only other payments she has is one for the mortgage, the taxes and of course her utilities.

A $15000 loan with a five-year term and 7% interest rate for Laura would cost her the following per month:

Loan Amount (principal) = $15000
Interest Rate = 7%
Term Length = 5 year
Monthly Payment = $297.02
Total Paid Back = $17821.08
Total Interest = $2821.08

Laura was actually very fortunate. Her accident could have cost her much more than the damages to her car and the court fees and fines.

She might have been severely injured or she might have injured someone else. She is very lucky even though she must pay the damages to her car, the court costs and the fines.

The loan was approved for her and she will have one payment that is easily affordable for her.

Unfortunately, her auto insurance increased due to the fact she had an accident and it was her fault. This is not uncommon and it can take several years with a good driving record before she will see her insurance premiums come down.

Between the fines, court fees and the damages, along with the scare she received from being in an accident she realizes that she is a very lucky woman.

She has vowed that she will not text and drive nor will she talk on the phone while driving unless it is hands free. This will be the safest thing to do and it will cost her a lot less money in the long run.

If you're living in Columbia like Laura, 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 Columbia SC

Job/Income Upgrades: Indeed / Snag-A-Job

Education Upgrades: College / University

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Columbia Credit Counseling

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Counselors contact us for listing removal or info change.

Credit Lady 777
521 Meeting St West Columbia
SC 29169 / creditlady777.com
803.764.5035

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Credit Score 650
1314 Lincoln Street, Columbia
SC 29201 / 803.999.4141
www.creditscore650.com

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Masters Credit Consultants
Columbia, SC 29201 / 864.249.9466
masterscredit.com

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Columbia Non-Profit Services

Food Bank: Harvest Hope Food Bank / Address: 2220 Shop Road, Columbia, SC 29201 / Phone: 803.254.4432

Hot/Cold Meals: Washington Street United Methodist Church / Address: 1401 Washington Street, Columbia, SC 29201 / Phone: 803.256.2417

Shelter In Case of Eviction: Transitions Homeless Center / Address: 2025 Main Street, Columbia, SC 29201 / Phone: 803.708.4861

Social Assistance Programs: Columbia Housing Authority / Address: 1917 Harden Street, Columbia, SC 29204 / Phone: 803.254.3886

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Usury Law Governing Columbia SC

Summary of South Carolina Usury Law(s) / Legal: 6% or 8.75% - South Carolina legal rate is 8.75% when term "legal rate" is used in contract, judgment or document / Contract: Any rate or as per the Consumer Protection Code / Judgment: 7.25% / Corporate: Rate not specific (read more on South Carolina lending laws)

Complaint process for Columbia residents:

South Carolina Board of Financial Institutions / South Carolina Complaint Process / South Carolina Complaint Portal

Physical Address: PO Box 5757, 2221 Devine Street, Suite 200, Columbia SC 29250-5757 / Phone: 800.922.1594 Fax: 803.734.4286 / Mail Complaint to: SCDCA Attn: Consumer Services / PO Box 5757 Columbia, SC 29250-5757

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