Fair to Bad Credit Loans in VT
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Home > How To Apply > Vermont
Last updated August 9th 2020
Commentary is for informational purposes only. See legal disclaimers here.Trouble Getting Approved in Vermont?
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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 / Rutland VT / Essex VT / South Burlington VT / Bennington VT
Complaints to:
Vermont
Department of Financial Regulations
/ Vermont
Complaint Process / Vermont
Banking Complaints
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
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
- - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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
- - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Vermont VA Federal Credit Union
1285 VA Cutoff Rd, White River
Junction, VT 05001
www.vtvafcu.com
802.295.5104
- - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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
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 Weekly. Principals rounded to the nearest $1000. Relative interest rates listed below in order left to right.
$10000 $45000 $30000 $65000 $55000
5.14% 6.87% 9.28% 11.00% 15.14%
Vermont Debt Consolidation Providers
Click or
tap map image above for interactive version. GreenPath
Debt Solutions - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Members Advantage Community CU - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - One Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Central Vermont Med Center CU - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Heritage Family Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - VSECU - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Green Mountain Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Orlex Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - NorthCountry Federal Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - River Valley Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - 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. 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: 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. 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. -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - Dantzscher & Associates - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Consumer Credit Counseling Services - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Consumer Credit Counseling - - - - - - - - - - - - - - - -
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Lenders contact
us for listing removal or amendment.
26 West St Rutland
VT 05701 - 802.773.2143
www.greenpath.com
614 N Hartland Road
White River Junction
VT 05001 - www.maccu.org
802.295.7805
380 River St #1, Springfield
VT 05156 - www.onecu.org
800.578.5024
130 Fisher Rd, Berlin
VT 05602 - cvmccu.org
802.371.4211
Windcrest Rd, Rutland
VT 05701 - www.hfcuvt.com
72 Seward Rd, Rutland, VT 05701
www.vsecu.com
802.371.5162
3141 Cold River Rd, Rutland
VT 05701 - greenmountaincu.com
802.776.1142
5043 US-5, Newport
VT 05855 - www.orlex.com
802.334.5084
37 Upper Munson Avenue, Morrisville
VT 05661 - www.northcountry.org
800.660.3258
820 Putney Rd, Brattleboro
VT 05301 - www.rivercu.com
800.728.5871 VT
Debt Consolidation Application Form
About Consolidation Loans
In Vermont
Consolidation
Loan Example in Vermont
Sincerely,
Credit
Counseling Services In VT
Counselors contact
us for listing removal or amendment.
150 Dorset St #192 South Burlington
VT 05403 - 802.578.8347
84 S Main St #2, Barre
VT 05641 - 802.461.4034
41 Idx Dr, South Burlington
VT 05403 - 802.658.7620WFL Loan Product
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