Fair to Bad Credit Loans in SC

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Last updated on August 20, 2018

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

Daily SC Borrower Credit Scores

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

675 560 549 583 593 587 636 506 656 447

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

South Carolina Usury and Regulations

Summary of South Carolina Usury Law(s) / Quote: "Legal: 6% or 8.75% - South Carolina legal rate is 8.75% when term "legal rate" is used in contract, judgment or document / Contract: Any rate or as per the Consumer Protection Code / Judgment: 7.25% / Corporate: Rate not specific"

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

South Carolina Usury Law Information: As per South Carolina Legal Code 34-31-20

Legal Maximum Interest Rates: Quote: "8.75% (§34-31-20)"

Usury Penalties: Quote: "Usury penalty laws repealed June 25, 1982, but old law may apply to transactions before then (formerly §34-31-50)"

Judgment Interest Rates: Quote: "12% (§34-31-20)"


Legal Exceptions: See South Carolina Consumer Protection Code (§37-1-101 et seq.)

South Carolina Lenders By City

Charleston SC / Columbia SC / North Charleston SC / Mount Pleasant SC / Rock Hill SC / Greenville SC / Myrtle Beach SC

Complaints to:

South Carolina State Board of Financial Institutions / South Carolina Complaint Process / South Carolina Complaint Form (PDF)

Physical Address: PO Box 5757, 2221 Devine Street, Suite 200, Columbia SC 29250-5757 / Phone: 800.922.1594 Fax: 803.734.4286 / Mail Complaint to: SCDCA Attn: Consumer Services / PO Box 5757 Columbia, SC 29250-5757

South Carolina Lender Service Areas Map

South Carolina Bad Credit Lenders Map - Initial Static Image

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Lenders
contact us for listing removal or amendment.


Latitude 32 Credit Union
1845 Sam Rittenberg Blvd
Charleston, SC 29407
www.latitude32.org
843.556.4809

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South Carolina FCU
140 Bee St, Charleston
SC 29401 - 843.797.8300
www.scfederal.org

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C O Federal Credit Union
117 Spring St #C, Charleston
SC 29403 - 843.722.7656
cofederalcreditunion.com

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Heritage Trust FFCU
2030 Sam Rittenberg Blvd
Charleston, SC 29407
www.heritagetrust.org
843.832.2600

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Founders Federal Credit Union
2166 Boyce Street, Columbia
SC 29207 - www.foundersfcu.com
800.845.1614

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Palmetto Health Credit Union
1333 Taylor St #5b, Columbia
SC 29201 - 803.978.2101
palmettohealthcu.org

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AllSouth Federal Credit Union
7471 Garners Ferry Rd, Columbia
SC 29209 - www.allsouth.org
803.736.3110

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SC State Credit Union
800 Huger St, Columbia
SC 29201 - www.scscu.com
803.343.0300

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Santee Cooper Credit Union
1232 Farrow Pkwy, Myrtle Beach
SC 29577 - 843.839.2225
santeecoopercreditunion.com

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Carolina Trust FCU
876 Howard Ave Myrtle Beach
SC 29577 - carolinatrust.org

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Bad Credit Loan Form for South Carolina

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Learn about GAP (Gift Angel Program)

 

Bad Credit Loan Example In SC

Lara got behind on her payments to the IRS for her income taxes. They quickly placed a lien on her bank account and recovered the funds she owed them.

Unfortunately, this left her without enough money to pay her rent and some of her utilities. The net result was a report to the credit rating agencies which lowered her credit score into the bad credit area.

She needs a bad credit loan of only $2500 to help her get back on track with her landlord and also the utility companies. She knows that she will likely have to pay a higher interest rate than someone with a good credit rating.

Nancy would like to have a term of two years to keep the monthly payments low enough for her to afford to meet the payments each month.

She also would like to make one or two extra payments during the two year term to reduce the total interest paid as well as pay the loan back more quickly.

Nancy works full time and has a good job providing her with sufficient income to afford this loan. She completed her income taxes and sent them in on time, but did not remit her income taxes that she owed.

After several reminders, the IRS had no choice but to go after the money from her account.

A $2500 loan with a two year term and 9.5% interest rate for Lara would cost her the following per month:

• Loan Amount (principal) = $2500
• Interest Rate = 9.5%
• Term Length =2 year
• Monthly Payment = $114.79
• Total Paid Back = $2754.87
• Total Interest = $254.87

Nancy learned the hard way that you just cannot get away with not paying what you owe to the IRS. Unfortunately, this lack of action had consequences beyond what Nancy ever thought could be.

She never expected her credit rating to suffer and certainly not make it difficult to find someone to process and approve a loan for her.

Bottom line for anyone reading this post is, “Always pay all of your debts, including your income taxes on time”. If you do not there is a really good chance that your credit score is going to decline and you will have trouble borrowing money in the future.

That is the simple truth.

It will be difficult to borrow money and if you are approved for a loan, expect to pay higher interest rates compared to other consumers with good scores. Low credit score consumers are perceived as being a higher risk client and are charged accordingly.

Never miss a payment.

Nancy is slowly recovering from her mishap and has been able to catch up on all her overdue bills. It will be a few years before her credit score recovers, but she is ok with that.

She plans to repay this loan in a shorter time span that the contracted two year term and then begin setting aside funds for emergencies. Above all she is going to pay her income taxes in advance and never have to deal with late payments again to the IRS or anyone.

If you live in the State of South Carolina 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 SC

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

$95000 $15000 $80000 $5000 $75000

15.58% 6.53% 5.33% 14.18% 12.43%

Debt Consolidation Providers In SC

South Carolina Debt Consolidation Loan Providers - Initial Static Image

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Lenders
contact us for listing removal or amendment.


A American Debt Consolidation
Easley SC 29640 - 864.855.1558

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A American Debt Consolidation
Anderson, SC 29621 - 864.224.5242

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A American Debt Consolidation
North Charleston, SC 29406
843.572.5924

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Debt Hero Charleston
Debt Consolidation Counseling
1156 Bowman Rd
Mt Pleasant, SC 29464
844.861.7292

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A American Debt Consolidation
Simpsonville, SC 29681
864.963.9602

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Heritage Trust FCU
814 N Jefferies Blvd
Walterboro, SC 29488
www.heritagetrust.org
843.832.2600

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South Carolina FCU
1000 N Main St, Summerville
SC 29483 - 843.797.8300
scfederal.org

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Pee Dee Federal Credit Union
305 W Pine St, Florence
SC 29501 - www.pdfcu.org
843.669.0461

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Palmetto First Federal Credit Union
108 Pamplico Hwy, Florence
SC 29505 - 843.664.0935
www.palmettofirst.com

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Nucor Employees Credit Union
1202 N Cashua Dr, Florence
SC 29501 - nucorcu.org
843.665.4668

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South Carolina Debt Consolidation Form

South Carolina Application Form
Bad Credit Debt Consolidation Loans (?)
 

About Consolidation Loans In SC

South Carolina residents with good or fairly good credit can consider the list of lenders above. Bad credit applicants can use the WFL lender pool by using the application form.

Before you consider consolidating, take a full inventory of your incomimg funds and outgoing funds. Then track your spending for a month closely so you can find out exactly what your outgoing is. Only then will you have a clear path to getting your personal finances in order.

Consolidation Example in South Carolina

John would like to borrow $1800 to help pay for a transmission repair and to consolidate a $500 balance on his credit card. John has a $500 limit on his credit card balance and it is fully charged to the maximum.

Unless he pays the balance in a few days, he will be charged interest on the overdue balance. He plans to pay the minimum monthly charge at the moment to avoid any late payment issues, but this will trigger interest charges.

He does not have a great credit score and is trying to rebuild it, but so far he is not having a great deal of success.

He could probably deal with the credit card issue by itself, however the transmission on his truck is on its last legs. It needs to be rebuilt or replaced.

He has an estimate for both solutions and he is really hoping that rebuilding the transmission is going to work.

He has been told to stop driving the truck if he wants to avoid further damage which could mean a brand new transmission instead of rebuilding it.

John does not have the money for the cost of rebuilding the transmission. He wants the loan to help him pay for it and also pay the credit card balance.

The repair shop is ready to get started on the repairs now, they are just waiting for him to give the go ahead and provide a 25% deposit on the repairs.

They want to make sure they are going to get paid.

A $1800 loan with a 2 year term 9.75% interest rate for John would cost him the following per month:

• Loan Amount (principal) = $1800
• Interest Rate = 9.75%
• Term Length = `2 year
• Monthly Payment = $82.85
• Total Paid Back = $1988.48
• Total Interest = $188.48

John needs his truck to get back and forth to work. He is either depending on friends or riding his bicycle back and forth. He likes the exercise, but not in bad weather.

Even though he does not have a great credit rating, his only debt is the credit card. The truck is paid for and he rents a small apartment at the present time and does not have very much in terms of expenses.

With this small loan he can also improve his credit rating as well provided that he pays off the credit card and also meets the terms of the loan.

He needs to pay his loan each month on time until the loan is fully paid off. If he can meet these terms it will demonstrate that he can be counted on to pay his debts and his credit score should also improve.

He makes sufficient income to cover this loan. Although he does not make that much, he can handle a small loan of this size. John is really counting on his transmission being repaired for the estimate he has been given.

You just do not know until it is removed and examined. Hopefully there will be no surprises and this debt consolidation loan will be sufficient to cover the repairs and his credit card debt.

If you live in the State of South Carolina 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.

Debt Counseling Services In SC

South Carolina 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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Consumer Credit Counseling Services
69 Robert Smalls Pkwy #202 Beaufort
SC 29906 - www.cccssavannah.org
678.961.0085

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Credit Lady 777 LLC
521 Meeting St, West Columbia
SC 29169 - creditlady777.com
803.764.5035

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Consumer Credit Services
810 Broad St # 2, Sumter
SC 29150 - 803.883.4694
www.consumercredit.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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