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This page was last updated July 2019

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Fair Credit Lenders in Waco TX

Lenders: contact us for listing removal.

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First Central Credit Union
6201 Sanger Ave, Waco, TX 76710
www.firstcentralcu.com
254.776.9333

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Educators Credit Union
501 W Hwy 6, Waco, TX 76710
www.edcu.com
254.776.7900

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Members Choice FCU
4631 W Waco Dr, Waco, TX 76710
www.memberschoicectfcu.org
254.776.7070

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Waco Federal Credit Union
826 N 3rd St, Waco, TX 76707
www.wacofcu.org
254.753.0361

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GENCO Federal Credit Union
731 N Valley Mills Dr, Waco, TX 76710
www.gencofcu.org
254.776.9550

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C-T-Waco FCU
7804 Central Park Dr, Waco, TX 76712
ctwfcu.org
254.772.2774

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1st University Credit Union
24 La Salle Ave C, Waco, TX 76706
www.culink.net
254.752.2797

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Linkage Credit Union
4527 Speight Ave, Waco, TX 76711
www.linkagecu.com
254.754.1168

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Heart O' Texas FCU
7500 Imperial Dr, Waco, TX 76712
www.hotfcu.org
254.751.1622

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Mc Lennan County EFCU
215 N 5th St # 224, Waco, TX 76701
www.mclennancountyefcu.com
254.757.5015

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Bad Credit Loan Form for Waco TX

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Waco TX Lender Service Area Map

Waco Bad Credit Lenders Map - Initial Static Image

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Waco TX 5x5 Loan App Volume

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

  1. Parkdale
  2. Carver
  3. South End
  4. Heart of Texas
  5. University Area

McLennan County Courthouse Waco Texas: Licensing/Credit

Bad Credit Example in Waco TX

Davinder in Waco has not managed his money very well. He really enjoys the good life and has spent a great deal of money on travelling, gambling and entertaining.

Just in the last year he lost $50000 gambling at the casinos over Vegas on a trip. He is considered a high roller and is treated very well by the casinos as long as he is gambling and living large.

They even send a limo to pick him up and bring him to the casinos across the state line.

He also travelled a lot last year and he likes to go first class. He stays in the best hotels and goes to the best restaurants. Often he will take his friends to a great restaurant and pay for the entire meal.

Davinder makes excellent money, over six figures a year plus bonuses. Unfortunately for Davinder he has no savings and no idea of how to manage money.

He has at least six credit cards all charged to their limits. Including money, he has lost to the casinos and what he has charged to his credit cards, he now owes at least $80000.

He wants to borrow $80000 to consolidate his credit cards and also repay what he owes to one of the casinos. They have been after him to pay up.

They appear to be nervous that he may not repay everything that is owed.

A $80000 consolidation loan with a twenty five-year term and 5.2% interest rate for Davinder would cost him the following per month:

• Loan Amount (principal) = $80000
• Interest Rate = 5.2%
• Term Length = 10 year
• Monthly Payment = $856.37
• Total Paid Back = $102763.96
• Total Interest = $22763.96

Lenders are really nervous about lending money to someone like Davinder. On paper he looks really great. He has a decent credit rating, he makes excellent money and he has potential to make a great deal more.

However, when you consider his spending habits and his inability to manage money he is considered a high risk client.
In situations like Davinder’s, lenders often demand security for the loan and they will pay the debt directly to avoid the funds being used for other purposes.

They also want to have a direct with drawl from his bank account where is paycheck is deposited.

Davinder was able to meet all of these conditions and offered his condo as collateral for the loan.

If he fails to meet his commitment regarding monthly payments on this consolidation loan, he risks having the condo sold by the lender to recover what is owed.

There now is lien on the condo which would prevent him from selling the condo without their knowledge.

While he still likes to gamble and entertain, he has been able to tone it down somewhat. The loan payment is taking a big bite out of his monthly disposable income.

He also does not want to go back to the same situation, owing a great deal of money to the casinos. While he has a lot of fun going on these junkets, ultimately he now knows that he has little chance of making any real money.

If you live in Waco 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 Waco TX

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

Job Upgrade: Indeed / Snag-A-Job

Education Advancement: College / University

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Credit Counseling In Waco TX

Waco Credit Counselors Map - Initial Static Image

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E.S. Credit Doctor
235 N Hewitt Dr #6, Hewitt, TX 76643
www.escreditdoctorllc.com
254.721.7314

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Waco Assistance Programs

Food Bank: Shepherd's Heart / Address: 1401 North 34th Street, Waco, TX 76710 / Phone: 254.722.9517

Hot/Cold Meals: CASA of McLennan County / Address: 1001 Washington Avenue, Waco, TX 76701 / Phone: 254.304.7982

Shelter In Case of Eviction: My Brothers Keeper / Address: 1217 Mary Avenue, Waco, TX 76701 / Phone: 214.860.7031

Social Assistance Programs: Waco Wic / Address: 225 West Waco Drive, Waco, TX 76707 / Phone: 254.750.5474

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Usury and Regs. Governing Waco TX

Usury Law(s) pertaining to Waco 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 Waco 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 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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