Fair to Bad Credit Loans in VT

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Last updated on August 19, 2018

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

Daily VT Borrower Credit Scores

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

443 535 532 569 564 435 540 431 565 656

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

Vermont Usury and Regulations

Summary of Vermont Usury Law(s) / Quote: "Legal: 12% / Contract: Legal Rate / Judgment: 12% / Corporate: No limit"

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

Vermont Usury Law Information:

Legal Maximum Interest Rates: Quote: "12 percent (Tit. 9 §41a)"

Usury Penalties: Quote: "Lender knowingly charging in excess of legal rate may forfeit all interest, all expenses of collection, and reasonable attorney's fee; first offense: fined not more than $500 and/or imprisoned for not more than 6 (six) months; subsequent offenses: fined not more than $1,000 and or imprisoned for not more than one (1) year (Tit. 9 §50)"

Judgment Interest Rates: Quote: "12 percent (Tit. 12 §2903)"

Legal Exceptions: Quote: "For a retail installment contract the finance charge shall not exceed 18 percent per annum of the first $500.00 of the balance subject to finance charges and 15 percent per annum of the balance subject to finance charges in excess of $500"

Vermont Lenders By City

Burlington VT / Essex VT / South Burlington VT / Rutland City VT / Bennington VT

Complaints to:

Vermont Division of Banking / Vermont Complaint Process / Compaint form PDF for download

Physical Address: Vermont Department of Financial Regulation / Banking Division ATTN: Consumer Assistance / 89 Main Street, Montpelier, VT 05620-3101 / Phone: 888.568.4547 Fax: 802.828.1477 / Scanned complaint form may be emailed: DFR.BnkConsumer@vermont.gov

Vermont Lender Service Areas Map

Vermont Bad Credit Lenders Map - Initial Static Image

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


Vermont Federal Credit Union
84 Pine St Burlington
VT 05401 - 888.252.0202
www.vermontfederal.org

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Vermont State Employees CU
1 Bailey Ave, Montpelier
VT 05602 - www.vsecu.com
802.371.5162

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Opportunities Credit Union
25 Winooski Falls Way Suite 203
Winooski, VT 05404
www.oppsvt.org
800.865.8328

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Credit Union of Vermont
2 S Main St, Rutland
VT 05701 - 802.775.4462

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Vermont Federal Credit Union
100 Panton Rd, Vergennes
VT 05491 - www.vermontfederal.org
888.252.0202

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New England Federal Credit Union
295 Tuckers Way, St Albans City
VT 05478 - www.nefcu.com
800.400.8790

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Vermont VA Federal Credit Union
1285 VA Cutoff Rd, White River
Junction, VT 05001
www.vtvafcu.com
802.295.5104

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NorthCountry Federal Credit Union
69 Swift St, South Burlington
VT 05406 - www.northcountry.org
800.660.3258

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New England Federal Credit Union
111 Colchester Ave, Burlington
VT 05401 - nefcu.com
802.879.8790

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Members Advantage Community CU
50 White Street, S Burlington
VT 05403 - www.maccu.org
802.862.8184

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Bad Credit Loan Form for Vermont

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

Learn about GAP (Gift Angel Program)

 

Bad Credit Loan Example In Vermont

Keith has a good heart, but life has thrown some curve balls at him. He needs a bad credit loan to pay for a number of things that he is dealing with at the moment.

When trouble comes it is usually in threes and that certainly is what Keith is going through. First of all, his wife left him and they got divorced.

The entire process left him with a bunch of debt and also a bad credit rating. It is a long story but that is the final result. They are both moving on at this point.

Next he loaned his car to his son for the night and the car ended up being totaled. Fortunately, no one was seriously hurt, but there is the deductible to pay and some hospital bills.

He also needs a new car and is in the process of looking for one that he can afford. He may not replace it since he ended up with two cars as part of the divorce settlement.

The police felt that the accident was his sons fault and have charged him accordingly. Unless he fights this charge, there could be some jail time involved and also his son will have a record which he will carry with him for the rest of his life.

He is not dealing well with the divorce and some of this is acting out, but he is going to pay a stiff price.

Keith has sufficient funds to pay for the deductible for the car repairs and the hospital bills that were incurred as a result of the accident.

He wants to borrow $10k to help pay for the legal fees associated with defending his son in court.

A $10000 loan with a four year term and 7.49% interest rate for Steve would cost him the following per month:

• Loan Amount (principal) = $10000
• Interest Rate = 7.49%
• Term Length =4 year
• Monthly Payment = $241.74
• Total Paid Back = $11603.63
• Total Interest = $1603.63

Keith was forced to make some tough decisions in the last few years. Some were beyond his control and many were. He ended up with a bad credit rating which he can do nothing about at this time.

He now has to decide to downsize to one car which after a lot of thought has decided to do. It will save him quite a bit of money in terms of insurance, and gas. Also, he does not have to pay for repairs to the damage on his vehicle involved in the accident.

He really wants to help his son. His son has no money for legal defense and needs to avoid a record which will impact him the rest of his life.

While a bad credit loan will cost him a little more in interest charges, he wants to go ahead with the loan and hire a good lawyer to defend his son.

He does not expect a full dismissal, but would like to have him just pay a fine for his failure to follow the highway traffic laws.
We wish him and his son luck. Maybe they can both get their lives turned around.

If you live in the State of Vermont 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 VT

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

$12000 $5500 $65000 $25000 $80000

13.44% 15.89% 8.61% 7.04% 9.82%

Vermont Debt Consolidation Providers

Vermont Debt Consolidation Loan Providers - Initial Static Image

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


GreenPath Debt Solutions
26 West St Rutland
VT 05701 - 802.773.2143
www.greenpath.com

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Members Advantage Community CU
614 N Hartland Road
White River Junction
VT 05001 - www.maccu.org
802.295.7805

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One Credit Union
380 River St #1, Springfield
VT 05156 - www.onecu.org
800.578.5024

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Central Vermont Med Center CU
130 Fisher Rd, Berlin
VT 05602 - cvmccu.org
802.371.4211

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Heritage Family Credit Union
Windcrest Rd, Rutland
VT 05701 - www.hfcuvt.com

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VSECU
72 Seward Rd, Rutland, VT 05701
www.vsecu.com
802.371.5162

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Green Mountain Credit Union
3141 Cold River Rd, Rutland
VT 05701 - greenmountaincu.com
802.776.1142

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Orlex Credit Union
5043 US-5, Newport
VT 05855 - www.orlex.com
802.334.5084

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NorthCountry Federal Credit Union
37 Upper Munson Avenue, Morrisville
VT 05661 - www.northcountry.org
800.660.3258

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River Valley Credit Union
820 Putney Rd, Brattleboro
VT 05301 - www.rivercu.com
800.728.5871

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VT Debt Consolidation Application Form

Vermont Application Form
Bad Credit Debt Consolidation Loans (?)
 

About Consolidation Loans In Vermont

From down south in Bennington to up north in Burlington there's thousands of people dealing with debt issues just like you. You all have that in common but at the same time each person's financial problems are unique - almost like a finger print.

And the solution is almost always unique as well. This is why getting professional help can often be advantageous. However, if you're just looking for a loan to consolidate all your debts and only deal with one creditor, you may not need a professional service. You may just get approved with a local credit union or bank. If you have a bad credit rating you can use the form above to find a lender in the WFL lender pool that will approve your loan request.

Consolidation Loan Example in Vermont

Gladys grew up in Essex and her family has been saving for a vacation trip to Disney and have almost enough to cover the entire trip.

They need another $2000 and they need $3500 to consolidate credit card bills. In total they need a debt consolidation loan of $5500 and they would like to repay their loan over a 2 year period.

They have been planning this trip for several years and saving for it as well. Prices continue to rise and they never seem to have quite enough to cover the trip.

Gladys wants to take her family this year because the kids are at the right age to appreciate the trip and they all will have a great time.

They are trying to keep their costs under control as much as possible, but it is still going to cost a great deal between travel, admission, food and lodging for a family of five.

While they have been saving for their trip, they somehow allowed their credit card expenses to get out of control. They try to pay the total balance every month and do not carry a balance over the due date to avoid interest charges on their credit card account.

This past month they had car repairs and a number of repairs to their home which were charged to the credit card. The car repairs are necessary to prepare for their trip.

They wanted to make sure that their car is safe. They plan to drive the couple thousand miles from their home state to Florida.

A $3500 loan with a 2 year term 5.65% interest rate for Gladys would cost her the following per month:

  • Loan Amount (principal) = $3500
  • Interest Rate = 5.65%
  • Term Length = 2 year
  • Monthly Payment = $154.57
  • Total Paid Back = $3709.70
  • Total Interest = $209.70

Other than the credit card debt they have, Gladys and her husband have a mortgage and a car loan that they pay every month.

They also have the other standard expenses such as utility payments and taxes. Everything is current and up to date.

They have an average credit rating and they make sufficient income to carry this additional loan payment. Lenders typically look for all debt payments to be less than 35% of their total monthly income.

They will actually be less than 30% with the loan payment added which leaves with sufficient cash flow for all other regular expenses.

The kids are pretty excited about going to Disney. This loan will make it possible to go this year and their payments will be quite reasonable.

They are also taking a reasonable approach to the cost of the trip. Some families will spend many thousands of dollars on buying the t-shirts, the hats, the special meals etc. They look at the trip as a once in a life time trip and they are going to experience everything.

While this is commendable, everyone has to keep the cost in perspective and how big a debt load they can actually afford from one trip. Gladys and her family seem to have this under control.

If you live in the State of Vermont 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 VT

Vermont 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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Dantzscher & Associates
150 Dorset St #192 South Burlington
VT 05403 - 802.578.8347

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Consumer Credit Counseling Services
84 S Main St #2, Barre
VT 05641 - 802.461.4034

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Consumer Credit Counseling
41 Idx Dr, South Burlington
VT 05403 - 802.658.7620

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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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