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This page was last updated July 2018

Commentary is for informational purposes only. See legal disclaimers here.

Bad Credit Loan Testimonial Reviews

Fair Credit Lenders in El Paso TX

Lenders: contact us for listing removal.

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One Source Federal Credit Union
8870 Gazelle Dr, El Paso, TX 79925
www.onesourcefcu.org
915.592.0223

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First Light Federal Credit Union
1555 Lee Trevino Dr, El Paso, TX 79936
www.firstlightfcu.org
915.562.1172

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Evolve Credit Union El Paso TX
8840 Gazelle Dr, El Paso, TX 79925
www.evolvefcu.org
915.593.5866

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Mountain Star Federal Credit Union
2229 E Yandell Dr, El Paso, TX 79903
mountainstarfcu.org
915.544.2215

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WestStar Bank
500 N Mesa St, El Paso, TX 79901
www.weststarbank.com
915.532.1000

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United Bank El Paso Del Norte
125 N Mesa Hills Dr, El Paso
TX 79912
www.unitedelpaso.com
915.231.2500

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Wells Fargo Bank
6960 N Mesa St, El Paso, TX 79912
www.wellsfargo.com
915.521.4058

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Pioneer Bank @ Gateway Blvd
6068 Gateway Blvd E, El Paso
TX 79905
www.pioneerbnk.com
915.782.2400

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Merrill Lending
8824 Mt Delano Dr, El Paso, TX 79924

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United Bank of El Paso
1726 N Zaragoza Rd, El Paso
TX 79936
www.unitedelpaso.com
915.231.2500

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Bad Credit Loan Form for El Paso TX

El Paso TX Lender Service Area Map

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El Paso TX 5x5 Loan App Volume

Top 5 El Paso neighborhoods for loan application volume in the last 5 months. Source: WFL Lender Pool. Updated Monthly. See all Texas personal loan volume data.

Zach White
Lower Valley
Northwest El Paso
Las Tierras
El Paso High

Bad Credit Loan in El Paso TX

Judy out of El Paso had a really bad credit score. Her FICO was 578 with Experian, 589 with Transunion, and 581 with Equifax.

Her score got beaten up because she had missed payment deadlines on most of credit cards. And not just missing a payment for a month either. Some cards she didn't pay for almost 6 months.

A perfect recipe for a perfect storm on your credit score. No matter what we need to make that minimum payment amount on our cards.

So with a credit score in the 550 - 590 range there was no way she would get approved for a loan. And that goes for any credit unions or banks. With a score that low Judy wasn't going to be considered for a loan with her own credit union branch.

Judy comes from a family that's always been struggling with money. She grew up in a very small house on the "least expensive" side of El Paso. The loan she was requesting was to avoid eviction.

She was late on her mortgage as well as her credit cards. She was given notice that she would be evicted in a month if there was no payment made to the bank.

She needed to come up with at least $3000 if they wanted to stay in their home. That was $3000 dollars more than what they had in the bank.

• Loan Amount (principal) = $3000
• Interest Rate = 16.45%
• Term Length = 1 years
• Monthly Payment = $272.83
• Total Paid Back = $3,273.98
• Total Interest = $273.98

I know that a rate over 16% is horrible, but when your credit rating is in the 25% range, it's a improvement. However, if your rate is this high you want to make sure you pay it off as fast as possible.

You may notice that 16% is well over the usury rate for Texas. Good catch there. In some state the usury law only applies to individuals and not some of the major lending institutions. I know ...ridiculous right. But that's just how it goes.

In lenders in Texas have some of the most relaxed laws in the country.

If you live in El Paso TX and you need a loan regardless of a bad credit rating we hope our website helps you in some way.

Sincerely,

Lance Somerset

Lance Somerset founded the We Find Lenders Pool. He writes for WFL on rare occasions just for the fun of it, and to stay current with the content on our website. His son Andy and daughter Chris handle most of the research and writing.

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Employment & Education Advancement Opportunities in El Paso TX

If you live in El Paso and you're struggling to make ends meet, you may want to consider these ideas.

Job Upgrade: Indeed / Monster

Education Advancement: College / University

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Credit Counseling In El Paso TX

Credit Services Of El Paso
6416 Gateway Blvd E, El Paso, TX 79905
www.creditservicesofelpaso.com
915.595.1111

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Texas Consumer Credit Services
221 N Kansas St #700, El Paso, TX 79901
www.texasconsumercredit.com
915.201.2604

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True Credit Solutions
6999 Montana Ave, El Paso, TX 79925
www.truecreditsolutions.com
915.778.2300

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It's Time - Credit Repair LLC.
12210 Montwood Dr #111, El Paso, TX 79928
www.itstimecreditrepair.com
915.857.3700

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Usury and Regs. Governing El Paso TX

Usury Law(s) for El Paso TX / Legal: 6% Contract: Limit is calculated as per the median (avg.) twenty-six month United States T-Bill amounts times two. However, it can't be lower than eighteen percent or over twenty-four percent. Judgment: calculated as per the fifty-two week T-Bill but never less than five percent or higher than twenty percent. Complete usury law for Texas see §306 and §303 / for Texas residents with bad credit or fair credit who want to submit a loan application

If you believe any El Paso Texas based lender is using predatory lending tactics, you can file a complaint:

Texas Department of Savings and Mortgage and Lending / Physical mailing address is 2601 N. Lamar, Suite #201, Austin, TX 78705 / Toll free: 1-877-276-5550 / Fax: 512-936-2003 / Online complaint form / See full list of ways to file a complaint against a lender in Texas

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WFL Loan Product Menu

Bad Credit Loans

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

Fair Credit Loans

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

Debt Consolidation Loans

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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