Fair to Bad Credit Loans in VA

American Debt Consolidation
Norfolk, VA 23502
757.455.0966

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Think Debt Relief
Poquoson VA 23662
757.598.1245

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Debt Relief Chesapeake
119 Jones St, Chesapeake
VA 23320 - 877.820.2211

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Debt Relief Norfolk
471 E Bute St, Norfolk
VA 23510 - 877.820.2211

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American Debt Consolidation
Roanoke, VA 24012
540.362.1922

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Hampton Roads Debt Solutions
403 Boush Street, Norfolk VA 23510
757.276.4400

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NAE Federal Credit Union
755 N Battlefield Blvd #0
Chesapeake VA 23320
www.naefcu.org
757.410.2000

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BayPort Credit Union
401 Albemarle Dr #102, Chesapeake
VA 23322 - www.bayportcu.org
757.928.8850

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Central Virginia FCU
20255 Timberlake Rd, Lynchburg
VA 24502 - www.cvfcu.com
434.528.9016

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VA Debt Consolidation Application Form

About Consolidation Loans In Virginia

Virginia borrowers can utilize the lender lists above if they want a loan to get them over a hump in their financial life, and they can specifically check out the companies above for debt services such as debt relief, consolidation and/or settlement. However, if you have a low credit score, these traditional lenders (credit unions and banks) won't likely approve your loan unless they have some kind of rock solid collateral on the note.

If this is the situation you're currently dealing with, then you can use the bad credit form above for an unsecured debt consolidation loan. From Virginia Beach out west to Roanoke if you have bad credit, we'll do our very best to connect you with a willing lender that does business with bad credit borrowers.

Consolidation Loan Example in Virginia

Esperanza from Newport News has had trouble holding on to a job over the past year. She is on her third job and she hopes this one is going to work out for her.

When she lost her job the first time she used her credit card to pay some bills. After she lost her second job, she did the same thing and now she owes close to $10000 in total credit card balances.

She really needs to keep her current job and she needs to find a loan for $10000 with a five year repayment plan that allows her to keep her monthly payments at a reasonable level.

The first job she lost was due to the company downsizing and later declaring bankruptcy. It took her by surprise and she had to scramble to find another job.

She received a small payout only because they laid her off before they declared bankruptcy, otherwise she would have received nothing at all.

It also took her five weeks before she was able to find another full time position at another small company near where she lives. She seems to have bad luck choosing companies.

This one kept her on only for four weeks before laying her off. They were just not developing sufficient sales to keep all of their employees working.

They said they would hire her back if and when they had more work for her. Her current position seems a little more secure. The company is growing and they are continuing to hire more people. She hopes the third one will be the charm.

A $10000 loan with a 5 year term 8.65% interest rate for Esperanza would cost her the following per month:

• Loan Amount (principal) = $10000
• Interest Rate = 8.65%
• Term Length = 5 year
• Monthly Payment = $205.89
• Total Paid Back = $12353.34
• Total Interest = $2353.34

Esperanza normally would not be a bad credit risk. The problem is that she has been at three different companies in the past year.

Lenders look for stability in a number of areas including employment, bill payment etc. While she has a good credit score her employment record makes it difficult for lenders to approve this loan request.

If she does not receive this loan, she will have to pay the high interest rates that credit card companies charge on overdue balances.

In her situation, the rate charged will be in excess of 21%. She will pay the minimum balance each month until she can catch up on her rent and utilities.

As soon as she can, she is going to pay larger amounts towards the credit card balance. Esperanza is also willing to ask her employer to prepare a letter showing her current employment status and income level.

She is hoping that this letter will help her obtain the loan and increase the chances of being approved. She is also willing to have the loan payment taken directly from her paycheck to ensure that the loan is always paid on time.

Most lenders prefer loan payments to be deducted from the same checking account that their pay check is deposited into. More to come on this loan request.

If you live in the State of Virginia 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 VA

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