Fair to Bad Credit Loans in CT

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Last updated December 9th 2018

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

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CT Usury and Regulations

Summary of Connecticut Usury Law(s) / Quote: "Legal: 8% Contract: 12% / Judgment: 10% / Corporate: Any rate over $10,000"

(WeFindLenders.com endeavors to include the most up to date legal data for Connecticut, 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 Connecticut, and/or contact the Connecticut State government's division of banking and finance - legal statutes researched by FindLaw.com & American Lawyers Quarterly - see credits)

Connecticut Usury Law Information:

Legal Maximum Interest Rates: Quote: "12% (§37-4)"

Usury Penalties: Quote: "Loan is not enforceable (§36a-573)"

Judgment Interest Rates: Quote: "Absent agreement to contrary, 8% (§37-1)"

Legal Exceptions: Quote: "Loans before September 12, 1911; bank; savings and loan; credit union; certain mortgages; loan for motor vehicle; boat; loan for higher education (§37-9); pawnbroker and loan broker (§21-44)"

Connecticut Lenders By City

Bridgeport CT / Stamford CT / Hartford Ct / Waterbury CT / Norwalk CT / Danbury CT / New Britain CT / Meriden CT /

Complaints to:

Connecticut Department of Banking / Physical Address: 260 Constitution Plaza, Hartford, CT 06103-1800 / Phone: 1-800-831-7225, ext. 8170 / Phone Direct: 860-240-8170 / Fax: 860-240-8178 / Email: banking.complaints@ct.gov / Connecticut Department of Banking / Connecticut Complaint Process

Connecticut Lender Service Areas Map

Connecticut Bad Credit Lenders Map - Initial Static Image

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Lenders
contact us for listing removal or amendment.


Northwest Hills Credit Union
339 N Elm St Torrington
CT 06790 - www.nwhcu.com
860.496.7326

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American Eagle FCU
417 Main St, East Hartford
CT 06118 - www.americaneagle.org
860.568.2020

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MembersFirst CT FCU
285 Broad St, Meriden
CT 06450 - 203.237.6424
membersfirstctfcu.com

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Connex Credit Union
412 Washington Ave, North Haven
CT 06473 - www.connexcu.org
800.278.6466

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Mutual Security Credit Union
12 Progress Dr, Shelton
CT 06484 - www.mscu.net
203.926.9903

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Bankers' Bank Northeast
43 Western Blvd, Glastonbury
CT 06033 - 860.657.2265
www.bankersbanknortheast.com

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Farmington Bank
475 Broad St, Bristol
CT 06010 - 860.284.4523
www.farmingtonbankct.com

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Start Community Bank
299 Whalley Ave, New Haven
CT 06511 - www.startbank.com
203.285.6490

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Prime Bank
7 Old Tavern Rd, Orange
CT 06477 - www.primebankct.com
203.799.1299

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Westport National Bank
1495 Post Road E Westport
CT 06880 - 203.319.6260
www.ccbankonline.com

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Bad Credit Loan Form for Connecticut

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Signature Loan Example In Connecticut

Peter from Bridgeport needs a lot of dental work. He has been to his family dentist who is referring him to a specialist to assess him and make a recommendation regarding what work he should have completed.

His family dentist feels that he needs a root canal, a tooth extraction and then a bridge to fill the gap where the tooth is being removed.

He already knows that this will be expensive. He has some savings and his medical benefit package will cover some of this treatment, but he knows he will need to take out a loan to pay for it.

While he is not yet sure about the total bill, his family dentist indicated it could cost somewhere around $4000, so he is applying for a loan now to make sure he has the financing in place to cover the expense.

He does not want a surprise when he has had the work completed and no way to pay for the treatment. He does not like using credit cards because the cost to carry an unpaid balance is so high.

He does have several credit cards and could use one of them to pay the bill initially, but then he would still need the loan once the credit card statement becomes due.

He wants to get this done quickly since he has an appointment within the next week with the specialist.

A $4100 loan with a three year term and 3.59% interest rate for Peter would cost him the following per month:

• Loan Amount (principal) = $4100
• Interest Rate = 3.59%
• Term Length =3 year
• Monthly Payment = $120.30
• Total Paid Back = $4330.87
• Total Interest = $230.87

Peter has an average credit score. He has good benefits, but like most benefit packages they pay for standard dental treatment such as cleaning, x-rays and general dental treatment.

They pay a portion of specialist expenses; however, it leaves the patient with a large dental bill that they are responsible to pay for. He needs to have a solution before he visits the specialist.

His debt load is reasonable. He has a car loan, a mortgage and several credit cards currently with a zero balance on them.

His credit utilization numbers are in the correct range and his monthly debt load is less than 35% although this loan will put him very close to 35% which is the limit for most lenders.

This loan is only $120 per month, however with his income level and other payments he is still close to the limit that most lenders look for.

Peter is under a lot of stress. He is in a lot pf pain and even with pain killers he is having trouble concentrating at work and he cannot get into see the specialist quickly enough. Waiting a week is really difficult but he has no choice at this point.

If he could see another specialist more quickly he would but his family dentist has made the referral and told him that this specialist does really good work and will treat him well.

Peter needs this loan approved asap otherwise he may have to delay treatment which is not something he wants to do.

If you live in the State of Connecticut 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 Connecticut

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

$12000 $35000 $20000 $30000 $9000

5.35% 10.95% 13.99% 14.88% 11.67%

Debt Consolidation Providers in CT

Connecticut Debt Consolidation Loan Providers - Initial Static Image

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Lenders
contact us for listing removal or amendment.


CT Debt Consolidation
1 Crouch St Suite 2 Groton
CT 06340 - 860.449.1308
www.ctdebtconsolidation.com

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Credit Card Debt Consolidation
24 Dixwell Ave, New Haven
CT 06511 - 203.285.3311

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Debt Elimination Services LLC
29 Soundview Rd, Guilford
CT 06437 - 203.458.1200

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A Plus Financial Solutions
Mortgage & Debt Settlement
17 Meriden Ave, Southington
CT 06489 - 860.378.0117

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Credit Card Debt Consolidation
24 Dixwell Ave, New Haven
CT 06511 - 203.285.3311

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Debt Relief Choices
Danbury, CT 06810
203.798.7577

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Lighthouse Debt Counseling
48 Cayer Cir
Shelton, - CT 06484
203.423.3328

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Workers Federal Credit Union
70 W Stafford Rd, Stafford Springs
CT 06076 - www.workersfcu.com
860.684.4484

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FD Community Federal Credit Union
601 Watertown Ave, Waterbury
CT 06708 - www.fdcommunityfcu.org
203.753.9201

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Finex Credit Union
616 Burnside Ave, East Hartford
CT 06108 - finexcu.org
860.282.0001

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CT Consolidation Application Form

Connecticut Application Form
Bad Credit Debt Consolidation Loans (?)
 

About Debt Consolidation Loans In CT

If you're a resident of Connecticut and you've been dealing with high interest debt that's exploded out of control, you may need to consolidate your debt or employ a debt relief company. But you should also look into the possibly of negotiatiating with your creditors directly. They will listent you and they will negotiate, but keep in mind this will hurt your credit rating further. Anytime you pay back creditors in a partial matter you will have to deal with that reality. However, you must remember that having a bad credit rating and really high personal debt isn't a "forever situation" - it's only temporary and you can take action yourself to get yourself on the right path towards financial freedom. You can get a second chance.

Connecticut Consolidation Example

Mike and his wife from Stanford live outside of town and of course this means they have no services from the town for things like water and sewage.

They have their own well and septic system that they have to maintain on a regular basis. The current septic system has been in service for many years and although it is regularly cleaned out, the existing system has reached the end of its natural life.

They need to replace the septic system and the initial estimates suggest the cost will be somewhere around $15k for everything including a new system and the associated landscaping that will need to be completed after the new septic system is installed.

They have a large property and almost all of it is landscaped with lush lawns and they want to bring everything back to its original state.

They have investments they could sell to pay for this expense. They are invested in stocks and bonds which are paying excellent dividends and interest.

They would prefer to borrow the money provided they can obtain a loan with a low enough interest rate. While they are at it they will consolidate a small amount of credit card debt at the same time.

They would like to borrow a total of $15k with a five year term and as low an interest rate they can obtain. They are prepared to use their property as collateral for the loan.

A $15000 loan with a five year term and 3.59% interest rate for Mike would cost him the following per month:

• Loan Amount (principal) = $15000
• Interest Rate = 3.59%
• Term Length =5 year
• Monthly Payment = $273.48
• Total Paid Back = $16408.87
• Total Interest = $1408.87

Mikes home has sufficient equity available for him to use it as collateral for the loan and it should allow him to be approved for a loan with quite competitive interest rates.

He needs to get this done fairly soon, since the contractor is scheduled to come next week and begin work. They are using portable toilets and limiting their showers etc.

while they wait for the septic system to be replaced. It is very inconvenient for the family. They are even using the local gym to take showers as well as neighbors when they are available.

They have a pretty decent credit rating and should not have a problem with being approved for this loan. Mike and his wife both work and make enough income to support this loan as well as their mortgage payments and utilities.

Mike might also be interested in a line of credit which would allow him to draw on the loan as needed and repay it any time he has extra cash.

The commitment that is required for a line of credit is that you must pay the accrued interest each month as the minimum monthly payment.

He and his wife are giving this some thought; however, they need to make the decision quickly to enable the money to be available to pay the contractor who arrives next week. More to come on this loan application.

If you live in the State of Connecticut 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.

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.

Credit Counseling Services In CT

Connecticut Debt Consolidation Loan Providers - Initial Static Image

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

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Financial Counselors of America
1165 Main St East Hartford
CT 06108 - 860.986.7470
www.financialcounselors.org

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National Credit Masters
21 W Main St, Waterbury
CT 06702 - 855.208.5385
www.nationalcreditmasters.com

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Consumer Credit Counseling Services
40 Court St, New Britain
CT 06051 - 860.348.1524
www.usattorneylegalservices.com

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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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