Fair to Bad Credit Loans in HI
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Last updated February 9th 2020
Commentary is for informational purposes only. See legal disclaimers here.Trouble Getting Approved in Hawaii?
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Hawaii Usury and Regulations
Summary of Hawaii Usury Law(s) / Legal: 10% Contract: 1% per month / Judgment: 10% / Corporate: No specific rate
(WeFindLenders.com endeavors to include the most up to date legal data for Hawaii, 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 Hawaii, and/or contact the Hawaii State government's division of banking and finance - legal statutes researched by FindLaw.com & American Lawyers Quarterly - (see credits)
Hawaii Usury Law Information:
Legal Maximum Interest Rates: Quote: "10% H.R.S. 478-2"
Usury Penalties:
Quote: "Creditor may recover principal only; Debtor
recovers costs / Creditor fined up to $250 and/or prison up to 1 year
H.R.S. 478-5, 6"
Judgment Interest Rates:
Quote: "10% on judgment for any civil suit (H.R.S.
478-3)"
Legal Exceptions: Nil
Hawaii Lenders By City
Honolulu HI / Pearl City HI / Mililani HI / Waipahu HI / Kaneohe HI / Ewa Gentry HI / Mililani Mauka HI / Wahiawa HI / Kapolei HI
Complaints to:
Write
to: Division of Financial Institutions, Department of Commerce and
Consumer Affairs, P.O. Box 2054
Honolulu, HI 96805 / In Person: Division of Financial Institutions
- Department of Commerce and Consumer Affairs
335 Merchant Street, Room 22, Honolulu, HI 96813 / Email: dfi@dcca.hawaii.gov
/ Department of Commerce and
Consumer Affairs / Hawaii
Complaint Process / Hawaii
Complaint Form (PDF)
Main Office Information: Division of Financial Institutions, Department of Commerce and Consumer Affairs: King Kalakaua Building, 335 Merchant Street, Room 221, Honolulu, HI 96813 / Phone: (808) 586-2820 / Fax: (808) 586-2818 / Residents In Other Islands Call: Kauai 274-3141, Maui 984-2400, Hawaii (808) 974-4000, Lanai & Molokai 1-800-468-4644 (toll free)
Hawaii Lender Service Areas Map
Click
or tap map image above for interactive version.
Lenders contact
us for listing removal or amendment.
Hawaii Federal Credit Union
1244 Kaumualii St Honolulu
HI 96817 - 808.847.1371
www.hawaiifcu.org
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Oahu Federal Credit Union
2219 Pauoa Rd, Honolulu
HI 96813 - oahufcu.org
808.521.6727
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Molokai Community Federal CU
135 Puali Pl, Kaunakakai
HI 96748 - 808.553.5328
www.molokaicommunityfcu.com
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Maui Federal Credit Union
107 E Wakea Ave, Kahului
HI 96732 - www.mauifcu.com
808.873.5050
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HawaiiUSA FCU
1310 S Kihei Rd, Kihei
HI 96753 - 808.875.5700
www.hawaiiusafcu.com
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Valley Isle Community FCU
160 Paahana St, Kahului
HI 96732 - www.vicfcu.org
808.877.3232
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Hawaii County Employees FCU
131 Puuhonu Wy, Hilo
HI 96720 - 808.935.2969
www.hawaiicountyfcu.com
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HELCO Federal Credit Union
1437 Kilauea Ave #105, Hilo
HI 96720 - www.helcofcu.org
808.969.6999
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Big Island Fed Credit Union
66 Lono St, Hilo
HI 96720 - 808.935.9778
www.bigislandfcu.com
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Bank of Hawaii Hawaii
7192 Kalanianaole Hwy Honolulu
HI 96825 - www.boh.com
808.397.4010
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Bank of Hawaii
67-1191 Mamalahoa Hwy, Waimea
HI 96743 - www.boh.com
808.885.7995
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Bank of Hawaii Safeway
377 Keahole Street, Honolulu
HI 96825 - www.boh.com
808.397.2250
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Bad Credit Loan Form for Hawaii
Signature Loan Example In Hawaii
Gerry’s son goes to a private school in Honolulu and the tuition is due in a few weeks. He also needs repairs to the transmission for his truck and some minor repairs to his wife’s car.
All of this adds up to around $11000 and he has applied
for a personal signature loan to help him through this financial period.
Although Gerry did not want to apply for a loan, recent events left
him no choice. There are the current issues of tuition to pay and
repairs to the truck and the car to worry about.
But Gerry also had to deal with some health issues earlier in the year. He has health insurance but with a $5000 deductible, his savings were quickly depleted.
At least he had the money to pay for the medical
costs, but it left him with nothing in the bank to deal with ongoing
expenses or any other emergencies that occur.
Both he and his wife work full time and his son even has a part time
job. They believe in working hard for their living and paying their
way without turning to credit for help.
But sometimes life just throws curve balls at you and you have to deal with them.
Although he has applied for signature loan with a four year term, he very much wants to repay the loan in less time than the four years.
He really does not like paying the $1460 interest
this loan will cost if he can avoid it.
A $11000 loan with a four year term and 6.25% interest rate for Gerry
would cost him the following per month:
• Loan Amount (principal) = $11000
• Interest Rate = 6.25%
• Term Length =4 year
• Monthly Payment = $259.60
• Total Paid Back = $12460.70
• Total Interest = $1460.70
Gerry and his family are exactly the kind of clients many lenders
would like to have. They work hard, they pay their bills and they
have a great credit rating.
They are great credit risks and as a result he can
obtain a loan with a very competitive interest rate.
His son understands the value of going to a private school and the
amount of money it costs his family. Gerry is willing to pay for the
tuition, however his son must work to make spending money and purchase
his books etc.
For many this may sound cheap, however it is a tough life lesson for
his son to help understand the value of a dollar earned. He is very
careful of how he spends his own money. He has learned a lot from
his dad.
The loan will also help Gerry pay for the repairs to his trucks transmission.
Gerry uses the truck for odd jobs the he does to earn a little extra income in addition to his regular job. His wife needs her car to get back and forth to work.
This loan will help them both earn income and continue to meet their goals for financial independence. The lenders are pretty certain he will repay this loan in less time than the four year contracted term.
If you live in the State of Hawaii and you're struggling to get a loan approval 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 Hawaii
Last 5 debt service loans approved in the State of Hawaii. Source: WFL Lender Pool. Updated Weekly. Principals rounded to the nearest $1000. Relative interest rates listed below in order left to right.
$25000 $15000 $7000 $7500 $10000
9.78% 7.33% 10.61% 8.62% 7.96%
Debt Consolidation Providers In HI
Click
or tap map image above for interactive version. Debt Free Hawaii CU Hawaii FCU CU Hawaii FCU Big Island FCU Hawaii Community FCU Valley Isle Community FCU Maui County FCU West Oahu Community FCU Pearl Hawaii FCU Ewa FCU OE FCU If you live on one of the Hawaiian islands
and been up to your ears in debt, you're probably close to being desperate
for a consolidation loan. If you're credit score is damaged it will be
hard to find a bank, credit union, or private lender who will approve
your loan. If you can't get approved for a consolidation
loan with an APR lower than your existing credit card balances or loans
you have, you might have to get your credit rating improved. You can do
this yourself or you can hire a company to help you. It will take some
time, but you should get on it sooner than later.
Vickie’s story is typical of many
consumers. She is struggling to make a living like everyone else, pay
her bills and trying to get ahead in life. Like many consumers she lost her job for
a little while, ran up some debt, got a new job and is trying to pay off
the debt she has. She also owes two months’ rent
to her landlord. He has been kind enough to extend her credit for the
two months, but has told her that if she does not pay her back rent soon,
he will have to start the eviction process to remove her from her apartment.
She is desperate to avoid this step. If she can borrow the $5000, she can
pay the pay day loan off in full, her credit card and most important catch
up on her rent. She is so afraid that she will have to move. In the present economy, it can be really
difficult to keep a job. She works in the service industry, works hard
and has a good reputation within the industry. Unfortunately, many restaurants come and
go because the clientele is always looking for the next great food fad
and business ebbs and flows accordingly. Sounds like a tough life, but then that
is pretty much what most consumers are dealing with. Right now she needs
a loan to help her through this tough patch and with $5000 she feels she
can get her life back in order. She is fully committed to repaying this
debt consolidation loan. If you live in the State of Hawaii and
you're trying to get approved for a debt consolidation loan, we hope our
website helps you find a good lender regardless of your credit rating. 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. - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Consumer Credit Counseling Services - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Credit Associates of Hawaii - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Consumer Credit Counseling Services - - - - - - - - - - - - - - - -
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Lenders contact
us for listing removal or amendment.
46-5 Kawa St Kaneohe
HI 96744 - 808.339.3310
www.debtfreehawaii.com
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75-5781 Kuakini Highway
Kailua-Kona, HI 96740
www.cuhawaii.com
808.933.6700
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16-710 Milo St, Keaau
HI 96749 - 808.933.6700
www.creditunionsonline.com
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75-5737 Kuakini Hwy #101
Kailua-Kona, HI 96740
www.bigislandfcu.com
808.329.8889
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73-5611 Olowalu St, Kailua-Kona
HI 96740 - www.hicommfcu.com
808.930.7700
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160 Paahana St, Kahului
HI 96732 - www.vicfcu.org
808.877.3232
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270 Dairy Rd #146, Kahului
HI 96732 - 808.244.7968
www.mauicountyfcu.org
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91-1717 Fort Weaver Rd
#B, Ewa Beach, HI 96706
www.wocfcu.com
808.689.3000
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91-1401 Fort Weaver Road
Suite A-102, Ewa Beach
HI 96706 - www.phfcu.com
808.737.4328
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91-1202 Renton Road #A
Ewa Beach, HI 96706
www.ewafcu.com
808.681.3033
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2181 Lauwiliwili Street
#120, Kapolei, HI 96707
www.oefcu.org
808.682.4440
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Debt Consolidation Application Form
About Debt Consolidation
Loans In HI
Consolidation
Loan Example in Hawaii
Vickie needs $5000 dollars to consolidate her debt into one low interest
loan with a relatively small monthly payment. She has a credit card that
is almost at its maximum debt limit.
She also took out a small pay day loan which she knows is very expensive,
but she felt she had no other choice at the time.
She really likes the location and her apartment has become the home away
from home for her. She does not want to lose it. She also knows that her
credit score will take a hit if it has not already if she is evicted.
Vickie has applied for a $5000 loan with a three year term which will
lower her monthly payments and will help manage her monthly cash flow.
A $5000 loan with a three year term and 7.74% interest rate for Vickie
would cost her the following per month:
• Loan Amount (principal) = $5000
• Interest Rate = 7.74%
• Term Length =3 year
• Monthly Payment = $156.08
• Total Paid Back = $5618.98
• Total Interest = $618.98
Since Vickie lost her job she has been working two different jobs both
to make a little more money and to also avoid ending up with no income
at all if she were to be laid off.
She has figured out her priorities and knows that she must have sufficient
income for rent, utilities, and food on the table. Only after that does
she spend money on entertainment and spoiling herself.
Sincerely,
Credit
Counseling Services In HI
Counselors contact
us for listing removal or amendment.
632 Kinoole St Hilo
HI 96720 - 808.969.7136
1221 Kapiolani Blvd #245, Honolulu
HI 96814 - creditassoc.com
808.597.8922
95 Mahalani St # 6, Wailuku
HI 96793 - 808.242.8399WFL
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