Fair to Bad Credit Loans in IA

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Last updated on August 20, 2018

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

Daily Iowa Borrower Credit Scores

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

508 676 606 491 402 465 469 526 614 666

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

Iowa Usury and Regulations

Summary of Iowa Usury Law(s) / Quote: "Legal: 5% Contract: 7% as of July, 2006; any rate agreed for business purposes or over $25,000 for personal or household purposes / Judgment: 2% over rate on 52 wk. T-Bill / Corporate: Any rate allowed"

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

Iowa Usury Law Information: Iowa Codes - Chapter 535

Legal Maximum Interest Rates: Quote: "Iowa law permits a maximum interest rate of 5%, unless another rate is agreed upon in writing. In that case, the interest can’t exceed the official usury rate as set by the Iowa Superintendent of Banking. This maximum for January 2015 was 4.25%, however when it started in 1978, the maximum rate was 10%, so it fluctuates greatly"

Usury Penalties: Quote: "It’s unlawful to charge a higher rate of interest than permitted by these Iowa laws. If a person does charge above the allowed amount, the plaintiff can get a judgment to pay back only the principal debt without interest or costs. In addition, the violator forfeits 8% of the unpaid principal at time of judgment"

Judgment Interest Rates:
Quote: "The interest rate on judgments is 10% unless a different rate was stated in the contract which the judgment was based on, that interest rate can’t exceed the max that was permitted at the time"

Legal Exceptions: Quote: "The maximum interest rate doesn’t apply to loans for real property, business or agricultural loans, or loans of over $25,000"

Iowa Lenders By City

Des Moines IA / Cedar Rapids IA / Davenport IA / Sioux City IA / Waterloo IA / Council Bluffs IA / Ames IA / Dubuque IA

Complaints to:

Iowa Division of Banking / Iowa Complaint Process / Complaint Form (PDF)

Iowa Division of Banking / Physical Address: 200 East Grand Avenue, Suite 300 / Des Moines, Iowa, 50309-1827 / Phone: 515.281.4014 / Fax: 515.281.4862

Iowa Lender Service Areas Map

Iowa Bad Credit Lenders Map - Initial Static Image

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


Premier Credit Union
1301 Grand Ave West Des Moines
IA 50265 - www.premiercu.org
515.282.1611

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Des Moines Metro Credit Union
100 University Ave, Des Moines
IA 50314 - www.dmmcu.org
515.283.4195

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Veridian Credit Union
3221 SE 14th St, Des Moines
IA 50320 - www.veridiancu.org
800.235.3228

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Sioux Valley Community Credit Union
1120 6th St, Sioux City
IA 51101 - 712.277.1440
www.siouxvalleyccu.com

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Siouxland Federal Credit Union
3000 Plaza Dr, South Sioux City
NE 68776 - 402.494.2073
www.siouxlandfederalcu.com

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Dupaco Community Credit Union
1946 Schukei Rd, Waterloo
IA 50702 - www.dupaco.com
319.234.0381

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Warren Credit Union
2022 Falls Ave, Waterloo
IA 50701 - 319.233.9240

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Public Employees Credit Union
624 Franklin St, Waterloo
IA 50703 - 319.291.4375
www.publicemployeescu.com

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Collins Community Credit Union
1150 42nd St NE, Cedar Rapids
IA 52402 - www.collinscu.org
800.475.1150

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Linn Area Credit Union
3015 Blairs Ferry Road NE
Cedar Rapids, IA 52402
www.linnareacu.org
319.892.7300

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University of Iowa Community CU
716 A Ave NE, Cedar Rapids
IA 52401 - www.uiccu.org
319.339.1000

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First Federal Credit Union
3810 Westdale Dr SW, Cedar Rapids
IA 52404 - www.firstfedcu.com
319.362.3171

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Bad Credit Loan Form for Iowa

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)

Learn about GAP (Gift Angel Program)

 

Signature Loan Example In Iowa

Winnie would like a signature loan to help her pay for modifications to her home to accommodate an electric wheel chair.

She also needs the loan to help pay for the wheel chair as well. When she first started looking at wheel chairs she was amazed at how many options there were to choose from. It was actually a bit over whelming.

She and her husband finally settled on one that should meet their needs. They also want to travel and the wheel chair they selected needed to be able to be loaded onto a small platform that connects to the back of their van.

The modifications in their home involve installing a number of ramps at the entrance to their home and also into a sunken family room they have in their house.

It is all a bit awkward, but they really have no choice at this point. They are trying to make their life as comfortable as they can, given the circumstances.

They have some savings which they can use to pay for a part of all of the expenses associated with the wheel chair, the ramps and also the platform on their van.

They need another $6600 to help pay for all of this expense which they will pay on a monthly basis with a three year term. They are hoping for a low interest rate loan to help them keep the payments as low as possible.

A $6600 loan with a 3 year term and 5.76% interest rate for Winnie would cost her the following per month:

• Loan Amount (principal) = $6600
• Interest Rate = 5.76%
• Term Length =3 year
• Monthly Payment = $200.07
• Total Paid Back = $7202.44
• Total Interest = $602.44

Winnie and her husband are seniors living on a pension and old age security income. They do not have a great deal of income, but they make do with what they have.

They have some savings which they are going to draw on however they are reluctant to cash their savings in. Once it is gone, it is very difficult to save that money again.

They would prefer in this case to borrow the money and pay on a monthly basis.

They feel they can afford this added expense, although they will have to give up a few things in their lives.


The wheel chair is for Winnie and her husband will try to make most of the changes that are needed around the home to accommodate it.

He is still quite healthy and is even thinking of taking a small part time job to help pay for the extra expense of the wheel chair. Once they have it and Winnie is used to getting around in the electric wheel chair she will have a lot more freedom than she does now and it will be much easier on both of them.

They should have no problems being approved for this loan. They have a great credit score and although they do not have a very large income, they have sufficient to support this loan since they have no other debts to be concerned about. Their home and car are both paid for.

If you live in the State of Iowa 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 Iowa

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

$7500 $9000 $13000 $8500 $5500

5.17% 9.75% 15.94% 15.45% 11.37%

Debt Consolidation Providers In IA

Iowa Debt Consolidation Loan Providers - Initial Static Image

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

A American Debt Consolidation
Cedar Rapids IA 52404
319.362.0228

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A American Debt Consolidation
719 5th St SE
Cedar Rapids, IA 52401
319.804.8135

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Consumer Credit of Des Moines
6129 SW 63rd St, Des Moines
IA 50321 - 515.287.6428
www.consumercredit-dm.com

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Relian Debt Relief
Locust St, Des Moines
IA 50312

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North Iowa Community Credit Union
640 S Federal Ave, Mason City
IA 50401 - www.niccu.com
888.424.2281

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Iowa Heartland Credit Union
1602 S Monroe Ave, Mason City
IA 50401 - iowaheartland.org
641.424.5391

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CENT Credit Union
25 W State St, Mason City
IA 50401 - www.centcu.org
641.424.2368

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Ace Credit Union
1028 14th St SE, Mason City
IA 50401 - 641.424.6330

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Fort Dodge Family Credit Union
407 2nd Ave S, Fort Dodge
IA 50501 - www.fdfcu.com
515.573.1160

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Peoples Credit Union
13 S 3rd St, Fort Dodge
IA 50501 - 515.573.8991
peoples-credit-union.com

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Citizens Community Credit Union
2012 1st Ave S, Fort Dodge
IA 50501 - www.citizenscu.com
515.955.5524

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A American Debt Consolidation
Waterloo - 50701 - 319.234.2355

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IA Debt Consolidation Application Form

Iowa Application Form
Bad Credit Debt Consolidation Loans (?)
 

About Consolidation Loans In Iowa

Iowa consumers have a lot of choices for consolidating debt, but your credit score will come into play in a big way. If you're looking for debt relief or debt settlement that's a completely different story. Your credit score has nothing to do with debt relief because you're simply negotiating with your creditors to pay back a small portion of what you owe.

And of course your credit score will be negatively affected. That's just common sense when you're basically defaulting on your debts. But you need to be aware of the time you'll be spending in the credit "penalty box". It will take time to repair your credit, but it's only a temporary problem and you need to stay positive and go forward with a plan.

Consolidation Loan Example in Iowa

Alex needs his car repaired so he can get back and forth to the doctor and also get to work.

There is no public transit where he lives so if his car is not road worthy, he has to rely on friends to help him out getting to his appointments and going to work at odd hours.

He needs a debt consolidation loan to help him with his car repairs and also his single credit card.

He has one credit card with a thousand dollar limit on it. He recently bought a little furniture for himself and charged it to his credit card.

He knows he probably should not have spent the money, but it was such a good deal that he really could not resist the temptation.

Now the statement has arrived and he must pay the total by the due date or pay a lot of interest. He can afford to pay about $250 of the balance. He will be charged interest on the full balance.

If he had known that his car was going to need a lot of repairs he probably would not have spent the money on furniture. He needs to brake pads and of course the calipers and rotors are also in bad shape.

Worse than that, one of the brake lines is leaking and must be replaced. Not only is the car not safe to drive, it is going to cost him almost $1400 to have everything repaired.

He needs a total of $2100 to consolidate all of his debt into one low interest loan with a one year term. He wants the one year term so that he can repay the loan quickly.

It has to be repaired soon so he can get to work and also his doctor’s appointments next week.

A $2100 loan with a 1 year term and 6.76% interest rate for Alex would cost him the following per month:

• Loan Amount (principal) = $2100
• Interest Rate = 6.76%
• Term Length =1 year
• Monthly Payment = $181.47
• Total Paid Back = $2177.69
• Total Interest = $77.69

We all get surprises in our lives and in Alex’s case it is the repairs to his car.

He knew he had to replace the pads, but the rotors, calipers and the brake line leaking were a surprise for him. We cannot always predict these things.

That’s why many financial experts recommend that consumers should always have an emergency savings fund set aside to help them deal with these surprises. They always seem to occur at the worst possible moments.

Alex does not have a bad credit score and he does not have any debt. Although his car is old, it is his car and he does not have a car loan.

His only debt is the thousand dollars on the single credit card that he has in his name. He is not married and works part time at a local bar as a bartender.

He makes more than enough money to carry this loan and has a good record paying his rent and utility payments. Alex should anticipate a loan approval barring any other surprises.

If you live in the State of Iowa 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.

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 IA

Iowa Credit Counseling Providers - Initial Static Image

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

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Mid Iowa Credit Counseling
100 Euclid Ave #157 Des Moines
IA 50313 - cccsia.org
515.279.4118

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123 Credit & Debt Counseling
Des Moines, IA 50316
515.288.0741

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Financial Counseling Center
4403 1st Ave SE #402
Cedar Rapids, IA 52402
319.373.8297

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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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