Fair to Bad Credit Loans in ID
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Last updated: September 26 2018
Commentary is for informational purposes only. See legal disclaimers here.Trouble Getting Approved in Idaho?
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Idaho Usury and Regulations
Summary of Idaho Usury Law(s) / Quote: "Legal: 12% Contract: Any rate agreed upon / Judgment: 5.625% / Corporate: No specific rate"
(WeFindLenders.com endeavors to include the most up to date legal data for Idaho, 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 Idaho, and/or contact the Idaho State government's division of banking and finance - legal statutes researched by FindLaw.com & American Lawyers Quarterly - see credits)
Idaho Usury Law Information:
Legal Maximum Interest Rates: Quote: "12% unless express contract (§28-22-104), applicable to:
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Money due by express contract
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Money after the same becomes due
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Money lent
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Money received to the use of another and retained beyond a reasonable time without the owner's consent, express or implied
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Money due on the settlement of mutual accounts from the date the balance is ascertained
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Money due upon open accounts after three (3) months from the date of the last item"
Usury Penalties:
Quote: "Plaintiff may recover amount of actual injury
(§6-807, 1602)
Judgment Interest Rates:
Quote: "5.125% plus annual average yield on U.S. Treasury
securities as determined by Idaho state treasurer (§28-22-104)"
Legal Exceptions: Nil
Idaho Lenders By City
Boise ID / Nampa ID / Meridian ID / Idaho Falls ID / Pocatello ID / Caldwell ID / Coeur d'Alene ID / Twin Falls ID / Lewiston ID / Post Falls ID
Complaints to:
Idaho
Department of Finance / Idaho
Complaint Process
Idaho Department of Finance / Physical Address: 800 Park Blvd., Suite 200, Boise, ID 83712 / Mailing Address: P.O. Box 83720, Boise, ID 83720-0031 / Phone: (208)332-8000 / Toll Free In Idaho Only: 1-888-346-3378 / E-Mail: finance@finance.idaho.gov
Idaho Lender Service Areas Map
Click
or tap map image above for interactive version.
Lenders contact
us for listing removal or amendment.
Pioneer Federal Credit Union
2350 S Broadway Ave Boise
ID 83706 - 208.331.7786
www.pioneerfcu.org
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Mountain America Credit Union
10440 W Ustick Rd, Boise
ID 83704 - www.macu.com
208.376.0424
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Idaho Central Credit Union
200 N 4th St, Boise
ID 83702 - 208.846.7000
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Health Care Idaho Credit Union
208 W Jefferson St, Boise
ID 83702 - www.hcicu.com
208.275.0069
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East Idaho Credit Union
865 S Woodruff Ave, Idaho Falls
ID 83401 - eastidahocu.org
800.727.9961
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Idaho Central Credit Union
Sunnyside Branch
3330 S 15th E, Idaho Falls
ID 83404 - www.iccu.com
208.478.3300
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Mountain America Credit Union
525 W Sunnyside Rd, Idaho Falls
ID 83402 - www.macu.com
208.522.8576
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Connections Credit Union
2265 E 25th St, Idaho Falls
ID 83404 - 208.529.0444
www.cuconnect.org
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Mountain America Credit Union
1061 Blue Lakes Blvd N, Twin Falls
ID 83301 - www.macu.com
208.732.7890
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Idaho Central Credit Union
Blue Lakes Branch
1875 Blue Lakes Boulevard
North Twin Falls
ID 83301 - 208.733.4777
www.iccu.com
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Bad Credit Loan Form for Idaho
Signature Loan Example In Idaho
Kim has her own condo and is very proud that she purchased this condo and is paying for it herself. It is very affordable.
She has lived in this condo for the past three years and is now ready to complete a few small renovations.
She would like to spend some money on upgrading one
of the bathrooms and buy new appliances. Kim has already picked out
the appliances and is ready to place the order if she can obtain a
loan.
She is pretty handy herself at doing a variety of minor repairs that
she needs to do from time to time. But a bathroom renovation is more
than she can handle.
She needs a contractor to replace the sink, the toilet and the vanity as well as the light fixtures. The shower will stay as is since she actually likes the tiles that are installed.
With a good cleaning they will sparkle like new.
Kim will do all of the painting herself which will save some money
for her. She can also do this work on her own schedule instead of
waiting for a painter to come and finish the job.
She figures that she needs about $4400 to cover the
renovation work as well as the appliances. She has asked for a three
year term to keep her monthly payments as low as she can.
A $4400 loan with a three year term and 6.74% interest rate for Kim
would cost her the following per month:
• Loan Amount (principal) = $4400
• Interest Rate = 6.74%
• Term Length =3 year
• Monthly Payment = $135.34
• Total Paid Back = $4872.12
• Total Interest = $472.12
Kim has a great credit rating and a record of paying all of her payments
on time.
She will be approved for a loan without any problems and could probably be approved for a higher loan if she needed one.
She has a full time job and makes excellent incomes
as a nurse practitioner working at a local hospital.
For Kim, it gets even better. Now that she knows she will be approved
for the loan she has asked for, she contacted the store about placing
an order for the appliances.
The sales person indicated that in the following week there was going to be a new sale which would save her an additional 15% on the cost of the appliances.
This is great for Kim. She decided to keep the same loan and once she has finished with all of the renovations she will pay anything she has left to the loan.
This would have the impact of shortening the term
of the loan repayment.
Another reason for not getting a smaller loan is that quite often
when renovation projects are started there can be lots of surprises.
While she does not know of anything at the present time, when you begin removing the vanity and the toilet, there can be additional minor repairs which can drive the cost up.
She plans to wait and see what the contractor finds and then make her plans accordingly with respect to the surplus funds she hopes to have from the loan.
If you live in the State of Idaho 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 Idaho
Last 5 debt service loans approved in the State of Idaho. Source: WFL Lender Pool. Updated Weekly. Principals rounded to the nearest $1000. Relative interest rates listed below in order left to right.
$55000 $60000 $80000 $75000 $9500
12.31% 15.96% 6.06% 11.89% 9.78%
Debt Consolidation Providers In ID
Click
or tap map image above for interactive version. Debt Reduction Services American Debt Consolidation Clarity Credit Union Cornerstone Credit Union Clarity Credit Union Simplot Employee Credit Union ISU Credit Union Westmark Credit Union ISU Credit Union Mountain America Credit Union SEI Credit Union If you live in Boise, Pocatello, Meridian
(or any other to towns and cities) you may need to consolidate all of
your debt into one loan, with one monthly payment, and hopefully with
a lower rate than the current credit agreements you have in place. We often see people here from Idaho who
need to consolidate payday loans, car loans, personal loans, or even utility
and phone bills. Whatever you do, don't be too hard on yourself if you
are dealing with runaway debt. Don't tell yourself you're a failure or
anything negative. It's just a current money problem you have and something
you can carefully plan to get yourself out of debt. We have links and
information for Idaho residents who need to consolidate their debt. For
instance, if you have a fair credit rating you can consider the list of
Idaho credit unions and banks show above. We have included a map as well
so you can easily find these lending institutions. If your credit rating is bad you can access
the WFL lender pool by using the debt consolidation application form above.
When you do this your application (pre-app) is viewed by lenders in Idaho
AND lenders all across the United States.
Cibele needed a new bedroom set and decided
to make a purchase on the weekend. She placed the order on layaway and
is paying $100 a month towards the purchase. If you live in the State of Idaho 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. - - - - - - - - - - - - - - - -
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Lenders contact
us for listing removal or amendment.
6213 N Cloverdale Rd #100 Boise
ID 83713 - 208.378.0200
www.debtreductionservices.org
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Idaho Falls, ID 83402
208.523.3349
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805 Cleveland Blvd, Caldwell
ID 83605 - 208.467.6583
www.claritycu.com
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416 S Kimball Ave, Caldwell
ID 83605 - 208.459.3500
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1115 Albany St #132, Caldwell
ID 83605 - 208.467.6583
www.claritycu.com
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83607, 16785 Simplot Blvd
Caldwell - ID 83605
www.simplotecu.com
208.454.4286
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202 W Alameda Rd, Pocatello
ID 83201 - www.isucu.org
208.235.7100
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333 W Alameda Rd, Pocatello
ID 83201 - www.westmark.org
208.233.0725
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707 S 9th Ave, Pocatello
ID 83209 - www.isucu.org
208.235.7100
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1012 Yellowstone Ave, Pocatello
ID 83201 - www.macu.com
208.234.2444
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555 N 5th Ave Pocatello
ID 83201 - seius.org
208.233.4395
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Debt Consolidation Application Form
About Debt Consolidation
Loans In ID
Consolidation
Loan Example in Idaho
It will take her almost two years at this rate to pay off the total at
this rate. She really does not want to wait that long and would like a
debt consolidation loan.
If she can be approved for the loan she could have her new bedroom set
within a week.
She does not have any credit cards and does not want any, especially from
the store.
When she made the purchase she was offered store credit and was surprised
that the interest rate that was being charged on any overdue balance would
be 29%.
Since she is not able to pay that much up front she knows that she will
pay interest at 29%. At much as she wants the new bedroom set she does
not want to pay all of this extra interest.
If she can be approved for a loan at a low interest rate, she could have
her new bedroom set in a week or two and actually end up paying less per
month that she was paying on layaway.
The cost of the loan is $351, which is fine with Cibele and she gets to
use her new bedroom set right away. She needs $2500 to make this happen.
A $2500 loan with a three year term and 8.74% interest rate for Cibele
would cost her the following per month:
• Loan Amount (principal) = $2500
• Interest Rate = 8.74%
• Term Length =3 year
• Monthly Payment = $79.20
• Total Paid Back = $2851.10
• Total Interest = $351.10
No one wants to wait so long to pay for something on lay away. Waiting
over two years just does not make sense and that is why many people who
have a decent credit score will apply for a loan and make their purchases
right away.
Almost everyone who has a credit card will just charge the item to the
credit card and worry about how to pay for it later.
In Cibele’s case she does not have a credit card and does not want
one, especially at a rate of 29%.
Her credit score is fine and with a payment of $79 a month she can easily
afford the payments. In fact, the payment is less than the lay away she
signed up for.
Once she is approved for the loan she can go back to the store and pay
the entire amount up front and make arrangements for delivery.
Someone suggested that she should try to sell her old bedroom set and
make a few dollars.
She can use the extra money and actually reduce her interest cost if she
puts it toward the loan. She plans to wait until her new set has been
delivered and then will try to sell it.
This loan will help her get what she wants and also contribute to improving
her credit score provided that she meets the terms of the loan.
Sincerely,
Debt
Counseling Services In Idaho
Counselors contact
us for listing removal or amendment.
6213 N Cloverdale Rd #100 Boise
ID 83713 - 208.378.0200
www.debtreductionservices.org
1132 Locust St N, Twin Falls
ID 83301 - 208.733.2227
www.ruraldynamics.org
Idaho Falls, ID 83402
208.525.5283
1003 7th Street South
Nampa, ID 83651
208.461.9443WFL Loan Product
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