Fair to Bad Credit Loans in AZ
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Last updated March 22nd 2020
Commentary is for informational purposes only. See legal disclaimers here.Trouble Getting Approved in Arizona?
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Arizona Usury and Regulations
Summary of Arizona Usury Law(s) / "Quote: Legal: 10% Contract: Whatever rate agreed to by both parties / Judgment: 10% / Corporate: No specific rate"
(WeFindLenders.com endeavors to include the most up to date legal data for Arizona, 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 Arizona, and/or contact the Arizona State government's division of banking and finance - legal statutes researched by FindLaw.com & American Lawyers Quarterly - see credits)
Code § 6-632 (Arizona Usury Law Snippets Of Interest)
The snippets of interest are from the Arizona legal codes and rules document. Read full document here on their website.
Quote: § 6-632 (B) "A licensee may contract for and receive periodic finance charges on consumer revolving loans and home equity revolving loans that are not more than the following amounts:
1. On consumer revolving loans with credit limits of three thousand dollars or less, a periodic rate corresponding to an annual percentage rate of thirty-six per cent on the outstanding balance each monthly billing cycle.
2. On consumer revolving loans with credit limits of more than three thousand dollars and home equity revolving loans, either:
(a) A periodic rate corresponding to an annual percentage rate of thirty-six per cent on that portion of the outstanding balance each monthly billing cycle that is not more than three thousand dollars and a periodic rate corresponding to an annual percentage rate of twenty-four per cent on that portion of the outstanding balance each monthly billing cycle that is more than three thousand dollars"
Arizona Lenders By City
Phoenix AZ / Tucson AZ / Mesa AZ / Chandler AZ / Glendale AZ / Scottsdale AZ / Gilbert AZ / Tempe AZ
Complaints to:
Arizona Department of
Financial Institutions /
Physical Address: 2910 N. 44th Street, Suite 310, Phoenix, Arizona,
85018 /
Telephone: 602-771-2800, Toll Free: 1-800-544-0708, Fax: 602-381-1225
Arizona Department of Financial Institutions
/ Arizona
Complaint Process
Arizona Lender Service Areas
Click
or tap map image above for interactive version.
Lenders contact
us for listing removal or amendment.
OneAZ Credit Union
1001 N Park Ave Tucson
AZ 85719 - www.oneazcu.com
844.663.2928
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Arizona Federal Credit Union
1675 E Elliot Rd, Gilbert
AZ 85234 - 602.683.1000
www.arizonafederal.org
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First Credit Union
803 E Devonshire Ave, Phoenix
AZ 85014 - www.firstcu.net
480.756.5500
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Coconino Federal Credit Union
2800 S Woodlands Village Blvd
Flagstaff, AZ 86001
www.coconinofcu.org
928.913.8100
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American Legion
204 W Birch Ave, Flagstaff
AZ 86001 - 928.774.7682
flagstaffal3.wix.com
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Rim Country Federal Credit Union
216 S Main Street, Snowflake
AZ 85937 - 928.536.7484
www.snowflakemillsfcu.com
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Winslow Santa Fe Credit Union
1021 N Williamson Ave, Winslow
AZ 86047 - www.wsfcu.net
928.289.2962
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Arizona Central Credit Union
4451 S White Mountain Rd Suite D
Show Low, AZ 85901
www.azcentralcu.org
602.264.6421
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Commerce Bank of Arizona
3805 E Broadway Blvd, Tucson
AZ 85716 - commercebankaz.com
520.325.5200
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Republic Bank AZ
909 E Missouri Ave Phoenix
AZ 85014 - www.republicbankaz.com
602.277.2500
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National Bank of Arizona
7202 E Carefree Drive, Carefree
AZ 85377 - www.nbarizona.com
480.595.2879
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Bad Credit Loan Form for Arizona
Signature Loan Example In Arizona
Barry from Pheonix has been renting off road vehicles for years with his buddies. At $300 a day, it can get pretty expensive.
Sometimes you get the machine you prefer and sometimes you miss out because it is already rented.
Barry has discovered that for less than three hundred
a month he can buy his own machine and never have to worry about renting
again.
He has $5000 as a down payment and needs another $15000 signature
loan to purchase the machine he wants. It is a used ATV, but only
has about 2000 miles on it and is in pretty good shape.
Buyers need to be careful when they purchase a used ATV. They sometimes receive pretty tough treatment and the owners do not always make all of the repairs they should.
This one seems to be in good shape and well maintained.
The seller wants to upgrade to a different ATV and is selling his
before it loses too much value.
With a $5000 down payment and an application for a loan of $15000,
lenders will probably treat this application quite favorably.
They like to see large down payments. It tells them that the owner is putting some of their own money in to the deal.
Barry already has all of the equipment he needs,
e.g. helmet, water bags, fuel cans and even camping gear along with
emergency gear. He originally charged all of these items to one of
his credit cards and has paid the balance on that card.
A $15000 loan with an five year term and 6% interest rate for Barry
would cost him the following per month:
• Loan Amount (principal) = $15000
• Interest Rate = 6%
• Term Length =5 year
• Monthly Payment = $289.99
• Total Paid Back = $17399.52
• Total Interest = $2399.52
Barry rents an apartment, owns his own car with a small car loan balance
remaining. As previously mentioned he has several cards in his name,
however he maintains a zero balance on these credit cards.
As a result, he also has a pretty good credit score
which contributes positively towards his loan application.
He had asked if this ATV could be used as collateral for the loan
to make him eligible for a lower interest rate. Unfortunately, his
entire loan could not be considered since ATV’s receive pretty
rough treatment and can lose their value rapidly.
This will have to be a personal signature loan at
prevailing interest rates.
Barry is really looking forward to spending time with his buddies
out in the desert. There are some popular trails they like to go on
as well as spending time camping out in the desert.
They bring everything they need to camp, food, water and other beverages. It can be quite a party in the middle of the desert under the stars.
Barry may need to also purchase a trailer to transfer
his ATV to more distant locations. He is on the lookout for one that
is also used and may decide to apply for a second loan to help him
make this particular purchase in the future.
If you live in the State of
Arizona and you're struggling with a bad credit rating we hope our
website helps you in some way.
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 Arizona
Last 5 debt service loans approved in the State of Arizona. Source: WFL Lender Pool. Updated Weekly. Principals rounded to the nearest $1000. Relative interest rates listed below in order left to right.
$5000 $25000 $9000 $65000 $15000
10.47% 12.40% 14.55% 15.44% 12.99%
Debt Consolidation Providers in Arizona
Click
or tap map image above for interactive version. Phoenix Debt Relief Help Center Freedom Financial A American Debt Consolidation A American Debt Consolidation AEA Federal Credit Union SunWest Federal Credit Union Mari Sol Federal Credit Union Tucson Federal Credit Union Hughes Federal Credit Union American Legion Whether you live in Phoenix, Tuscan, Mesa,
etc., if you need a loan to pay off all your existing debt(s) with one
consolidation loan, you should work on avoiding a future debt problem.
Try and organize your incoming and out
going money. If you don't have a clear and realistic plan in place before
you get a consolidation loan, you are setting yourself up future money
problems. Above we have a list of different companies
that provide personal loans, and you try setting up an appointment with
one of their loan officers. If your credit rating is really bad you can
use our application above so you can access our lender pool for bad credit
applicants. Nancy from Tempe is looking for a debt
consolidation loan to pay off all of her payday loans. She had to file
bankruptcy about 4 years ago and she has a really bad credit score as
a result. She has been paying them back, but was
forced to go back to them several times. She realizes that she is paying
a great deal of interest and fees and she wants to break the cycle. This is why she is applying for a debt
consolidation loan with a relatively low interest rate. If she can be
approved for this loan she can repay all of the pay day loan companies
and pay much less interest than she was. She has applied for a $3500 debt consolidation
loan with a two year term. While this loan will not make Nancy debt
free, it will save her a great deal of interest and fees. She will be
able to get out of the debt cycle she has been in for the past few months. Since then she has had no reports on
her score that were negative in nature. Sure she took out some questionable
loans, but she has not missed any payments. If you just look at the last
4 years since the bankruptcy, her credit score would actually be in good
shape. If you live in the State of Arizona 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. 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. Click
or tap map image above for interactive version. - - - - - - - - - - - - - - - -
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Lenders contact
us for listing removal or amendment.
2942 N 24th St #114 Phoenix
AZ 85016 - www.debtend.org
602.223.1700
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8181 S 48th St, Phoenix
AZ 85044 - 800.220.7791
www.freedomfinancialnetwork.com
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Flagstaff, AZ 86001
928.226.0875
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500 W 24th St
Yuma, AZ - 85364
928.344.3993
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1780 S 1st Ave, Yuma
AZ 85364 - www.aeafcu.org
928.783.8881
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11839 N 28th Dr, Phoenix
AZ 85029 - www.mysunwest.com
866.897.9378
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1515 W Roosevelt St, Phoenix
AZ 85007 - www.marisolcu.org
602.252.6831
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7216 N Oracle Rd, Tucson
AZ 85704 - www.tucsonfcu.com
520.795.8520
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280 N Pantano Rd, Tucson
AZ 85710 - www.hughesfcu.org
520.794.8341
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204 W Birch Ave, Flagstaff
AZ 86001 - 928.774.7682
flagstaffal3.wix.com
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Debt Consolidation Application Form
About Debt Consolidation
Loans In AZ
Arizona Consolidation Loan Example
She lost all of her credit cards because of the bankruptcy and could not
borrow any money for any reason from any lender.
During the last four years, Nancy managed to pay of her debt associated
with bankruptcy and she was on a good path to recovering her credit score.
Bankruptcies can take many years before they are removed from your credit
score. A good record can help provided there are no more occurrences of
missed payments etc.
Unfortunately for Nancy, she lost her job for a few weeks and had to find
another one. She got behind in her rent and decided to turn to pay day
loan venders.
She is looking for a loan with a two year term to keep the monthly payments
manageable, while at the same time paying it off in a relatively short
time.
A $3500 loan with a two year term and 9% interest rate for Nancy would
cost her the following per month:
• Loan Amount (principal) = $3500
• Interest Rate = 9%
• Term Length =2 year
• Monthly Payment = $159.90
• Total Paid Back = $3837.52
• Total Interest = $337.52
Nancy has had a difficult couple of years from a financial perspective.
When you pay a lot of interest and fees, it is really difficult to repay
the loan and become debt free.
When you have to declare bankruptcy it puts a really big black mark on
your credit score.
Many lenders will not look at an application twice if you have one on
your credit score. Nancy declared bankruptcy over four years ago.
Most lenders would just reject her application, however, if they look
at her last years since the bankruptcy she might have a chance. She also
has a stable job and makes sufficient income to cover her rent, utilities
and this loan without affecting what she needs for regular living expenses.
Hopefully for her they will approve this debt consolidation loan request.
Sincerely,
Credit
Counseling Services In Arizona
Counselors contact
us for listing removal or amendment.
20620 N 19th Ave Phoenix
AZ 85027 - 623.266.6100
www.takechargeamerica.org
B101, 8723
E Vía De - Commercio, Scottsdale
AZ 85258 - 480.478.4304
www.creditabsolute.com
6476 E Nastar Pl, Tucson
AZ 85730 - 520.201.8728WFL
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