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This page was last updated September 2018

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Fair Credit Lenders in Burlington VT

Lenders: contact us for listing removal.

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Vermont Federal Credit Union
84 Pine St Burlington
VT 05401 / www.vermontfederal.org
888.252.0202

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NorthCountry Federal Credit Union
69 Swift Street, South Burlington
VT 05406 / www.northcountry.org
800.660.3258

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New England Federal Credit Union
1000 Shelburne Road, S Burlington
VT 05403 / www.nefcu.com
800.400.8790

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Green Mountain Credit Union
4 Laurel Hill Dr #3, S Burlington
VT 05403 / greenmountaincu.com
802.864.6892

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VSECU
125 St Paul Street, Burlington
VT 05401 / www.vsecu.com
802.371.5162

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Green Mountain Credit Union
4 Laurel Hill Dr #3, S Burlington
VT 05403 / greenmountaincu.com
802.864.6892

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Opportunities Credit Union
92 North Avenue, Burlington
VT 05401 / www.oppsvt.org
802.660.4751

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Members Advantage Community CU
50 White Street, South Burlington
VT 05403 / www.maccu.org
802.862.8184

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Mascoma Savings Bank
180 Battery Street, Burlington
VT 05401 / www.mascomabank.com
802.658.8500

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People's United Bank
1001 Shelburne Rd South Burlington
VT 05403 / branches.peoples.com
802.658.3424

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Bad Credit Loans in Burlington VT

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)

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Burlington VT Lender Area Map

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Burlington VT Loan App Volume

Top 5 Burlington neighborhood loan app volume

  1. Riverside Avenue/Colchester Avenue
  2. N Winooski Avenue/Pearl Street
  3. North Winooski Avenue/Pearl Street
  4. Bernard J Leddy Park
  5. Pine Street/Flynn Avenue

Richardson Building in Burlington Vermont: Licensing/Credit

Burlington Bad Credit Loan Example

Sastry's divorce did not go quite as well as he had anticipated. He expected to end up with the house, the car and the furniture after paying his wife an undisclosed amount of money.

They had squabbled over almost everything and the legal bills just kept getting larger and larger.

His lawyer just sent him the bill for the legal fees and also advised him just how much he still owed his ex-wife. It seems that in exchange for him retaining all of the items from the divorce she wants all cash.

She does not want to be reminded of their marriage at all and wants to start her life over with a bank account full of cash.

Sastry will on the other hand be in a debt situation and in need of a consolidation loan. He needs funds to pay his ex-wife, his lawyer and he has a number of expenses that were charged to his credit cards.

He just does not have the ready cash to meet all of these commitments and would like to arrange for a $45k debt consolidation loan to cover everything.

The divorce proceedings and the difficulties leading up to the divorce has hurt him in other ways as well.

Some utilities were not paid on time and also some credit card bills that were jointly held accounts were also not paid on time.

Needless to say, his credit score suffered and so did his wife's credit score. Maybe that is why she wants an all cash settlement.

The joint accounts have been closed and he has established his own bank accounts and credit card accounts. Over time he will recover his credit score, but until then he will have to most likely pay higher interest rates on loans and mortgages.

A $45000 loan with an ten-year term and 5.29% interest rate for Sastry would cost him the following per month:

Loan Amount (principal) = $45000
Interest Rate = 5.29%
Term Length = 10 year
Monthly Payment = $483.70
Total Paid Back = $58043.88
Total Interest = $13043.88

Sastry was able to arrange for a long term personal loan even with a poor credit score. He has been with the same company for over ten years and except for the divorce period has had an excellent record of paying all of his debts on time and in full.

He hopes to pay off his loan more quickly than contracted, however for the time being he is satisfied with what he was able to arrange.

He is getting his life organized. The lawyer is paid, the ex-wife is paid and he does not need to pay any alimony payments.

He can look to the future now without any new obligations looming on the horizon or any that carry over from the failed marriage other than this personal loan.

The loan is the last item linking him with the marriage and he has come to realize that he needs to pay it off as fast as he can to be fully released from his former life.

Although he has the house which was part of his former marriage, he looks at this as an investment. He does not plan to live their forever.

If you're living in Burlington like Sastry, 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 Burlington VT

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

Education Upgrades: College / University

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Burlington Credit Counseling

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Counselors contact us for listing removal or info change.

Consumer Credit Counseling
41 Idx Drive, South Burlington
VT 05403 / 802.658.7620

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GreenPath Debt Solutions
41 Idx Dr Suite 210, South
Burlington, VT 05403
www.greenpath.com
802.658.7620


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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Burlington Assistance Programs

Food Bank: Chittenden Emergency Food Shelf / Address: 228 North Winooski Avenue, Burlington, VT 05401 / Phone: 802.658.7939

Hot/Cold Meals: Salvation Army / Address: 64 Main Street, Burlington, VT 05401 / Phone: 802.864.6991

Shelter In Case of Eviction: COTS / Address: 95 North Avenue, Burlington, VT 05401 / Phone: 802.864.7402

Social Assistance Programs: Human Services Agency / Address: Burlington, VT 05401 / Phone: 802.651.1684

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Usury Law Governing Burlington VT

Summary of Vermont Usury Law(s) / Legal: 12% / Contract: Legal Rate / Judgment: 12% / Corporate: No limit (read more on Vermont lending laws)

Complaint process for Burlington residents:

Vermont Division of Banking / Vermont Complaint Process / Compaint form PDF for download

Physical Address: Vermont Department of Financial Regulation / Banking Division ATTN: Consumer Assistance / 89 Main Street, Montpelier, VT 05620-3101 / Phone: 888.568.4547 Fax: 802.828.1477 / Scanned complaint form may be emailed: DFR.BnkConsumer@vermont.gov

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WFL Loan Products

Burlington residents who require a fresh start with a bad credit loan to rebuild credit learn more here. Or, perhaps your score is just fair - you can learn more here. If you're in debt way over your head, you can learn about our debt consolidation solutions here.

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