Fair to Bad Credit Loans in OK

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Last updated December 9th 2018

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

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OK Usury and Regulations

Summary of Oklahoma Usury Law(s) / Quote: "Legal: 6% / Contract: Any rate unless subject to Oklahoma U.C.C. / Judgment: Oklahoma judgment rate is 4% over U.S. T-bill rate for previous year / Corporate: No specific rate"

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

Oklahoma Usury Law Information:

Legal Maximum Interest Rates: Quote: "6%, or by contract (Tit. 15 §266)"

Usury Penalties: Quote: "Forfeiture of entire interest; if amount over legal interest is paid, it may be recovered double (Const. Art. XIV §3); if a bank is guilty of loaning at usurious rate, cancellation of bank charter and liquidation of assets of bank (15 §272)"

Judgment Interest Rates:
Quote: "At contract rate or 4 percentage points above average treasury bill rate for preceding year, not to exceed 10% in action against state/political subdivision (Tit. 12 §727)"

Legal Exceptions: Quote: "Pawnshops (Tit. 59 §1510); small loans and retail installment (Uniform Consumer Credit Code) (Tit. 14A §3-201)"

Oklahoma Lenders By City

Oklahoma City OK / Tulsa OK / Norman OK / Broken Arrow OK / Lawton OK / Edmond OK / Moore OK

Complaints to:

Oklahoma Banking Department / Complaint Process

Physical Address:Oklahoma Banking Department / 2900 North Lincoln Boulevard, Oklahoma City, Oklahoma 73105 / Phone: 405.521.2782 or 918.295.3649 / Fax: 405.522.2993

Oklahoma Lender Service Areas Map

Oklahoma Bad Credit Lenders Map - Initial Static Image

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Lenders
contact us for listing removal or amendment.


Credit Union One of Oklahoma
3330 N Lincoln Blvd, Oklahoma
City, OK 73105 - 405.557.0167
www.creditunionone.org

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USE Federal Credit Union
4301 I-44 Oklahoma City
OK 73119 - 405.685.6200
www.usecreditunion.org

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Allegiance Credit Union
4235 N Meridian Ave, Oklahoma City
OK 73112 - 405.789.7900
www.allegiancecu.org

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WEOKIE Federal Credit Union
7600 S Pennsylvania Avenue
Oklahoma City, OK 73159
www.weokie.org
405.235.3030

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Tulsa Federal Credit Union
9323 E 21st St, Tulsa
OK 74129 - 918.610.0200
www.tulsafederalcu.org

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Employees Federal Credit Union
1120 W 17th St, Tulsa
OK 74107 - 918.582.7573
employeesfed.com

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Encentus Federal Credit Union
1320 S Lewis Ave, Tulsa
OK 74104 - 918.430.3500
www.encentusfcu.org

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OK Members First FCU
10832 E 31st St, Tulsa
OK 74146 - 918.663.2050
okmembersfirstfcu.org

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Muskogee Federal Credit Union
1910 W. Shawnee, Muskogee
OK 74401 - www.mfcuonline.org
918.683.3460

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Communication Federal Credit Union
601 N York St, Muskogee
OK 74403 - www.comfedcu.org
918.682.4333

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Bad Credit Loan Form for Oklahoma

Fast Loan Pre-App Method
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Learn about GAP (Gift Angel Program)

 

Bad Credit Loan Example In Oklahoma

Carolyn is a single mom with two kids and recently divorced. She has had a difficult time over the past year with the divorce from her husband, finding a place to live, looking after her kids, moving them to a new school and finding a new job.

She had a lot of help from her family thankfully and she is now beginning to see the light at the end of the tunnel. But first a little history of how she got into a bad credit region and now needs a bad credit loan.

During the divorce which was not amicable, both she and her husband stopped paying the bills and also ran up some expenses. The net result was a bad credit rating for both of them and a huge debt that was split equally between them.

While her husband is paying alimony, it is not enough for her to carry all of her living expenses and repay her share of the debt. She needed to find a job. She had been off for a few years while the kids were in preschool and now she needed to get back into the work force.

Fortunately for Carolyn, she found a job quite quickly in her old profession as a dental hygienist. It pays well and she is really excited about working again. She needed to move to an apartment closer to work so she can spend less time commuting and also be close to the kid’s school if she needs to leave work to go to the school for one of the kids.

She needs a $10000 bad debt loan with a five year term to repay all of the debt she owes and pay for all of the moving expenses and for new things she needs for her new place. If this loan is approved she can get her life back together and finally move on with her life.

A $10000 loan with a 5 year term and 9.65% interest rate for Carolyn would cost her the following per month:

• Loan Amount (principal) = $10000
• Interest Rate = 9.65%
• Term Length =5 year
• Monthly Payment = $210.75
• Total Paid Back = $12645.14
• Total Interest = $2645.14

Many people have events in their lives which usually are not very pleasant. These events like Carolyn’s force them into difficult financial circumstances and depending on the decisions they make can land them in debt and with a bad credit rating.

This is certainly what happened to Carolyn and her husband. They stopped paying their expenses and also spent more than they should. She is now working and receiving alimony for the kids.

With her income she will have enough money to live comfortably and also pay her share of the debts she has provided that she can be approved for a loan.

With a $210 a month payment, she will be able to afford the payment. Although it will take five years to repay it she can see the light at the end of the tunnel.

If you live in the State of Oklahoma 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 OK

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

$60000 $9500 $6500 $35000 850000

10.63% 14.43% 12.56% 5.59% 9.18%

Oklahoma Debt Consolidation Lenders

Oklahoma Debt Consolidation Loan Providers - Initial Static Image

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Lenders
contact us for listing removal or amendment.


Debt Relief Oklahoma
Oklahoma City OK 73118
www.nationaldebtrelief.com
888.989.5790

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Finance Point
4330 SE 29th Street Suite 3024
Del City, OK 73115
www.financepointloans.com
405.677.6468

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Debt Reduction Services
4111 S Darlington Ave #610
Tulsa OK 74135 - 918.660.0200
debtreductionservices.org

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A American Debt Consolidation
Edmond, OK 73003 - 405.341.8782

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Debt Consolidation & Counsel
14 E 1st Street, Edmond OK 73034
405.341.0892

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OneMain Financial
2409 Westport Dr, Norman
OK 73069 - 405.364.3922
www.onemainfinancial.com

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Southwest Oklahoma FCU
1806 NW Liberty Ave, Lawton
OK 73507 - www.swofcu.com
580.353.0490

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Navy Federal Credit Union
3414 NW Cache Rd, Lawton
OK 73505 - www.navyfederal.org
888.842.6328

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Fort Sill Federal Credit Union
2 SW 22nd St, Lawton
OK 73507 - www.fsfcu.com
580.353.2124

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TTCU Federal Credit Union
3801 W Okmulgee Ave, Muskogee
OK 74401 - www.ttcu.com
918.749.8828

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Halliburton Employees FCU
Box 2349, 105 Regional Dr
Elk City OK 73648
hefcu.org - 580.225.2690

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OK Debt Consolidation Application Form

Oklahoma Application Form
Bad Credit Debt Consolidation Loans (?)
 

About Consolidation Loans In Oklahoma

Above we there is contact information for Oklahoma local lenders if you have a credit score above the 650 range. If your credit score is below 650 you can use our application form above to access all the bad credit lenders who are legally allowed to give loan in your state. It's important that you have all your documentation ready for your meetings with a loan officer (online or in an office). Read more about consolidation loans here.

Consolidation Loan in Oklahoma

Richard and his partner are planning a major renovation of their condo.

They just purchased a condo and have moved in to their new place, but after living there for a month they decided they wanted to really renovate the entire place.

They will need a debt consolidation loan to help them pay for all of the work that will be done and consolidate a little bit of credit card debt they have.

The renovation is going to be a challenge. They are going to continue to live in their condo while the renovation is going on.

They plan to move everything they can into one bedroom and live out of that bedroom while the rest of the place is being worked on.

They will have a small fridge and a hot plate to do some basic cooking. They will be eating out a lot as well.

There is going to be a new kitchen, all of the wiring is going to be updated and they plan to remove some walls to open it up a bit and make more of an open concept space.

Much of their furniture is going to a storage locker which will cost them a small amount for a few months.

The entire project is going to take about three months and the total cost is going to be about $40000. The extra $5,500 is for debt consolidation and to pay for surprises that may come along.

A $45500 loan with a 15 year term 3.75% interest rate for Richard would cost him the following per month:

• Loan Amount (principal) = $45500
• Interest Rate = 3.75%
• Term Length = `15 year
• Monthly Payment = $330.89
• Total Paid Back = $59559.52
• Total Interest = $14059.52

Richard is retired and has no debts at this point in time. Their condo is fully paid for and their car is owned by his partner.

He is paying a monthly payment which will end in another three years. Between their joint income and the fact that they have no significant debts, they are excellent candidates for the loan they are requesting.

They want to take 15 years to repay the loan.

They also would like a really low interest rate. The best alternative for them is to apply for a fully secured loan using the equity in their home as collateral.

It is almost like a mortgage for them although the repayment term is very short. They are also considering whether a line of credit would be a better approach for them. They do not need to have all of the funds from the loan immediately.

They will make progress payments as the work is completed and also as supplies are delivered. The entire estimated cost will not need to be paid for at least three months.

A line of credit would be excellent for them, since they can draw on the loan as they need the money which will also reduce their total interest cost.

They will also be able to pay the loan off as fast or slow as they can afford. The minimum payment each month is the accrued interest. They plan to make a decision shortly and will adjust their loan application accordingly.

If you live in the State of Oklahoma 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 OK

Oklahoma Credit Counseling Providers - Initial Static Image

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

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Credit Counseling Centers of Oklahoma
4646 S Harvard Ave Tulsa
OK 74135 - 918.744.5611
www.tulsalibrary.org

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Consumer Credit Counseling Services
3230 N Rockwell Ave, Bethany
OK 73008 - cccsok.org
405.789.2227

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Debt Hero Oklahoma City
5030 N May Ave, Oklahoma City
OK 73112 - 405.585.2468

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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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