Fair to Bad Credit Loans in AK

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Last updated on August 20, 2018

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

Daily Alaska Borrower Credit Scores

Last 10 borrowers applying for a loan out of Alaska had the following credit scores. Source: WFL Lender Pool. Updated daily. FICO scores based on avg. from Transunion, Experian, and Equifax.

426 613 673 511 681 639 457 551 450 647

Alaska APR Reports (?)
Enter zip and your 3 digit credit score.

Alaska Usury and Regulations

Summary of Alaska Usury Law(s) / Quote: "Legal: 10.5% Contract: 5.5%; any rate over $25,000 / Judgment: 10.5% / Corporate: No specific rate"

(WeFindLenders.com endeavors to include the most up to date legal data for Alaska, but no guarantee or warranty of any kind is expressed or implied as to the accuracy of said data. This data is not intended to be legal advice. For legal help speak with a lawyer in Alaska, and/or contact the Alaska State government's division of banking and finance - legal statutes researched by FindLaw.com & American Lawyers Quarterly - see credits)

Code § 45.45.010 (Alaska Usury Law Snippets Of Interest)

The snippets of interest are from the Alaska legal codes and rules document. Read full document here on their website.

Snippet 1.) Quote: § (A): "The rate of interest in the state is 10.5 percent a year and no more on money after it is due except as provided in (b) of this section".

Snippet 2.) Quote: § (B) "Interest may not be charged by express agreement of the parties in a contract or loan commitment that is more than the greater of 10 percent or five percentage points above the annual rate charged member banks for advances by the 12th Federal Reserve District on the day on which the contract or loan commitment is made. A contract or loan commitment in which the principal amount exceeds $25,000.00 is exempt from the limitation of this subsection".

Alaska Lenders By City

Anchorage AK / Juneau AK / Fairbanks AK / Kodiak AK / Ketchikan AK / Sitka AK / Wasilla AK / Seward AK / Kenai AK / Homer AK

Complaints to:

Alaska Department of Commerce / Division of Banking and Securities / Mailing address:
P.O. Box 110807, Juneau, AK 99811-0807 / Physical Address: 333 Willoughby AVE, 9th Floor, State Office Building, Juneau, AK 99801 / Phone: (907) 465-2521, Toll-Free: (888) 925-2521, Fax: (907) 465-1230 / Email: dbsc@alaska.gov / Alaska State Department of Commerce / Online Complaint Form For Print Off

Alaska Lender Service Areas

Alaska Bad Credit Lenders Map - Initial Static Image

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Lenders
contact us for listing removal or amendment.


Alaska USA Federal Credit Union
4000 Credit Union Dr Anchorage
AK 99503 - www.alaskausa.org
907.786.2782

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Northern Skies Federal CU
1001 E Benson Blvd, Anchorage
AK 99508 - 907.561.1407
www.northernskiesfcu.org

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Spirit of Alaska FCU
1417 Gillam Way, Fairbanks
AK 99701 - www.spiritofak.com
907.459.5900

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Denali Federal Credit Union
3101 Penland Pkwy, Anchorage
AK 99508 - www.denalifcu.org
907.257.7200

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True North FCU
341 W Tudor Rd #100, Anchorage
AK 99503 - 907.771.4777
www.truenorthfcu.org

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First National Bank Alaska
3655 Heath St, Homer
AK 99603 - fnbalaska.com
907.235.5800

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First National Bank Alaska
1 Healy Spur Rd, Healy
AK 99743 - fnbalaska.com
907.683.7750

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First National Bank Alaska
775 E Parks Hwy, Wasilla
AK 99654 - fnbalaska.com
907.352.5900

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First National Bank Alaska
44501 Sterling Hwy, Soldotna
AK 99669 - fnbalaska.com
907.260.6000

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First National Bank Alaska
8725 Old Seward Hwy Anchorage
AK 99515 - fnbalaska.com
907.777.4362

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Bad Credit Loan Form for Alaska

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Signature Loan Example In Alaska

Chris just moved to Anchorage Alaska in the last three months to take a teaching job in a local school where he is now living. He loves the weather and the outdoors life so this job is perfect for him.

He has already made a circle of friends who spend a lot of time hunting and fishing during the summer. In the winter time they get on their snow mobiles to go across country to visit friends and local pubs for a beer.

Only problem Chris has at the moment is that he does not have a snow mobile of his own.

He knows that he will need a loan to buy one. He has not worked long enough to build up any savings although he does have a decent credit rating.

The only debt that he has is student loans which he has been paying on for the past two years. He is renting a small apartment here and really does not have any other debts.

His landlord has told him that he can store a snow mobile in a shed on the property for free. There is also a small workshop he can use if he needs to make repairs.

New snow machines can cost well over $10k and then there is the equipment that he will need. Warm clothing and boots will cost another thousand.

A trailer to cart it around on would also be helpful, although a buddy has said he could borrow his. Chris has decided that a used machine for $5k and the clothing for another $1k will have to meet his needs at this time.

Chris needs a six thousand dollar loan which he wants to repay over three years. His teaching contract is also for three years which fits nicely with this loan term.

A $6000 loan with an three year term and 6.7% interest rate for Chris would cost him the following per month:

• Loan Amount (principal) = $6000
• Interest Rate = 6.7%
• Term Length =3 year
• Monthly Payment = $184.44
• Total Paid Back = $6639.87
• Total Interest = $639.87

Although Chris has only been employed in the area for a few months, he does have a long term three year contract with the local school board.

Teachers are in high demand in the area and it would highly unusual for Chris not to finish his contract. For someone on the job only for a few months without a contract it can be more difficult to obtain a loan.

He has a good credit rating and history of paying his student loan on time.

He has a few years before it will be fully repaid. Although he did not want to purchase a trailer, one came available for a decent price, so he increased his loan application to $6500 and it is quite likely that it will be approved.

Chris is looking forward to this winter when he can get out on his machine and enjoy the Alaskan winter. His friends have also recommended that he purchase some survival gear in case he is ever stranded by his machine. It is just the thing you do in Alaska.

If you live in the State of Alaska and you're struggling with money, we hope our website helps get approved regardless of your credit rating.

Sincerely,

Chris Somerset

Chris Somerset is the daughter of Lance Somerset who founded the We Find Lenders Pool. She contributes to WeFindLenders.com whenever she's not having fun with her three children and her husband Ron.

Debt Consolidation Loans in Alaska

Listed below are the last 5 debt service loans approved in the State of Alaska. Source: WFL Lender Pool. Updated daily. Principals rounded to the nearest $1000. Relative interest rates listed below in order left to right.

$90000 $12000 $7500 $9000 $13000

13.47% 15.12% 6.36% 15.07% 5.01%

Consolidation Providers In Alaska

Alaska Debt Consolidation Loan Providers - Initial Static Image

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Lenders
contact us for listing removal or amendment.


Debt Reduction Services
341 W Tudor Rd, Anchorage
AK 99503 - 866.278.0213
www.debtreductionservices.org

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Denali Federal Credit Union
7405 Debarr Road, Anchorage
AK 99504 - www.denalifcu.org
907.257.7200

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Money Management International
417 Barrow St Anchorage
AK 99501 - 713.394.3232
www.moneymanagement.org

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Denali Federal Credit Union
1118 N Muldoon Rd #145
Anchorage, AK 99504
www.denalifcu.org
907.257.7200

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Northern Skies FCU
1000 O'Malley Rd #109
Anchorage, AK 99515
www.northernskiesfcu.org
907.561.1407

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Alaska USA Federal Credit Union
901 Evergreen Ave, Palmer
AK 99645 - www.alaskausa.org
907.745.4317

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Matanuska Valley FCU
501 Main St, Wasilla
AK 99654 - www.mvfcu.coop
907.745.4891

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Matanuska Valley FCU
3261 Big Lake Rd, Wasilla
AK 99654 - www.mvfcu.coop

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Northrim Bank
850 E Usa Cir, Wasilla
AK 99654 - www.northrim.com
907.376.0357

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KeyBank
201 N Lucille St, Wasilla
AK 99654 - www.key.com
844.433.2066

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AK Debt Consolidation Application Form

Alaska Application Form
Bad Credit Debt Consolidation Loans (?)
 

About Debt Consolidation Loans In AK

Consolidation providers in the State of Alaska presented on our site are made up of institutional banks, credit unions and private lenders. Before approaching a lender, or opening a dialogue regarding a loan be sure to have all your documentation in order and ready. This saves time for all concerned.

For your future personal finances please remember to make sure you have a realistic budget in place before you get your consolidation loan(s). If you don't have your finances in order you may start over using credit cards again and find yourself in even more debt going forward. A lifestyle change is usually critical to your success and being debt free.

Alaska Consolidation Loan Example

Rick moved to Seward Alaska a few years ago and has been enjoying the life style that Alaska has to offer.

One thing he does not enjoy is that the cost of living is higher than in the lower 48 and he tends to spend more money than he plans on for various items.

He travels home every few months to see his family and spends a great deal on airline flights.

He charges everything to his credit card and earns points towards airline fares. The more he charges to his credit card the more he earns towards free flights.

He generally flies free to see his family at least three times a year. But there is a down side for Rick from charging everything to his credit cards. He is now carrying a balance on his several cards and needs a consolidation loan.

Rick would like to consolidate two credit card balances for a total of $7000 at lower interest rates compared to what he will pay on his credit card accounts.

While he did save money by getting all these points towards airline flights, he did not manage his spending very well. He seemed to be more interested in free flights than on how much he was actually spending.

He now has to face the reality of repaying $7000 he spent and perhaps not receive any more free flights as well.

A $7000 loan with an three year term and 8.4 interest rate for Rick would cost him the following per month:

• Loan Amount (principal) = $7000
• Interest Rate = 8.4%
• Term Length =3 year
• Monthly Payment = $220.65
• Total Paid Back = $7943.35
• Total Interest = $943.35

Rick’s situation is actually quite common. With so many incentives these days from credit card companies it is no wonder that consumers like Rick overspend and end up carrying a balance on their credit cards with the corresponding high credit card interest rates.

A factor in Ricks favor is that he has always paid his monthly payments on time, even if it is only the minimum payment. His credit score has not been compromised.

His credit utilization is pretty high, however once the loan is approved and he repays these two credit cards, his credit utilization will actually improve.

Rick will need to be careful in the future. He still wants to visit his family in the lower 48 and use free airline points to pay for the flights.

He is very concerned that he will repeat his experience and end up owing a balance on his recently paid off credit cards.

One guideline many experts suggest is that consumers should not charge anything to their credit card unless they already have the cash to pay for it when the statements arrive.

He is giving his next steps a lot of thought regarding how to manage his spending. His dilemma is whether to lock his credit cards away in his office desk or continue using them to generate airline points.

This will be tough for Rick, he really wants to avoid another consolidation loan in the future.

If you live in the State of Alaska and you're trying to get approved for a debt consolidation loan, we hope our website helps you find a good lender and a low interest rate, regardless of your credit score.

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.

Debt Counseling Services In Alaska

Alaska Credit Counselors Map - Initial Static Image

Click or tap map image above for interactive version.
Counselors
contact us for listing removal or amendment.

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Consumer Credit Counseling
208 E 4th Ave Anchorage
AK 99501 - 907.279.6501
www.creditcounselingservicesusa.com

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Consumer Credit Counseling Services
250 N Cushman Street #4B, Fairbanks
AK 99701

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Money Management International
417 Barrow St, Anchorage, AK 99501
www.moneymanagement.org
713.394.3232

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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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