Fair to Bad Credit Loans in WA

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Last updated on August 19, 2018

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

Daily WA Borrower Credit Scores

Last 10 borrowers applying for a loan out of Washington 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

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

Washington Usury and Regulations

Summary of Washington Usury Law(s) / Quote: "Legal: 12% / Contract: 12% / Judgment: Washington judgment rate is as contract provides, otherwise the higher of 12% or 4% above coupon yield of 26-week Treasury bills / Corporate: No special rate"

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

Washington Usury Law Information:

Legal Maximum Interest Rates: Quote: "12% absent written contract rate (§19.52.010(1))"

Usury Penalties: Quote: "Debtor entitled to costs, attorney's fees, and twice amount paid in excess of what lender is entitled to (§19.52.030(1))"

Judgment Interest Rates: Quote: "Contract rate as long as within statutory limit or maximum rate; child support, 12% (§4.56.110)"

Legal Exceptions: Quote: "Broker dealers (§19.52.110); retail installment contract or transaction (§19.52.100, §19.52.130); sales contract providing for deferred payment (§19.52.120); financing of mobile homes (§19.52.160)"

Washington Lenders By City

Seattle WA / Spokane WA / Tacoma WA / Vancouver WA / Bellevue WA / Kent WA / Everett WA

Complaints to:

Washington Department of Financial Institutions / Washington Complaint Process / Compaint form

Mailing Address: PO Box 41200, Olympia WA 98504-1200 Physical Location: 150 Israel Road SW, Tumwater WA 98501 / Phone Numbers: 360.902.8700 Toll Free: 877.746-4334 TDD: 360.664.8126 En Español: 888.976.4422 Fax: 360.586.5068 Email: dfi@dfi.wa.gov

Washington Lender List

Washington Bad Credit Lenders Map - Initial Static Image

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Lenders
contact us for listing removal or amendment.


Waterfront Federal Credit Union
2414 SW Andover St # E100 Seattle
WA 98106 - www.waterfrontfcu.com
206.622.8415

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Express Credit Union
1930 6th Ave S Suite 104, Seattle
WA 98134 - expresscu.org
206.622.1850

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Verity Credit Union
11027 Meridian Ave N #102, Seattle
WA 98133 - www.veritycu.com
206.361.5346

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Salal Credit Union
11023 8th Ave NE, Seattle
WA 98125 - www.salalcu.org
206.298.9394

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Spokane Federal Credit Union
1212 W Francis Ave, Spokane
WA 99205 - 509.755.1350
www.spokanefederal.com

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Gesa Credit Union
1355 W Poplar St, Walla Walla
WA 99362 - www.gesa.com
509.378.3100

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HAPO Community Credit Union
1850 E Isaacs Ave, Walla Walla
WA 99362 - hapo.org
509.525.1286

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Solarity Credit Union
110 N 5th Ave, Yakima
WA 98902 - www.solaritycu.org
509.248.1720

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Lower Valley Credit Union
1112 E Nob Hill Blvd Suite 106
Yakima, WA 98901 - www.lvcu.org
509.317.7242

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WSECU
604 E University Way Ellensburg
WA 98926 - wsecu.org
800.562.0999

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Bad Credit Loan Form for Washington

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

Learn about GAP (Gift Angel Program)

 

Bad Credit Loan Example In Washington

Paul and his wife from Everett moved to Ireland a few years ago. His mother in-law paid to move all of the furniture to Ireland. After they were there a few years they both lost their jobs and decided to move back home.

Mother in-law would not pay to move everything back, so they sold all of their belongings for pennies on the dollar in Ireland. They moved back to Illinois and had to begin all over again.

They both were able to obtain jobs, but not after racking up some credit card debt and missing a few payments. Their credit score was already not so good and this just made it worse.

Now they have a bad credit rating. They have been living with his wife’s parents which really is not going that well. They want to move out and need a loan to help them buy some furniture and all of the things they got rid of in Ireland.

Mother in-law is not too pleased with them because they sold everything in Ireland. Apparently there was some really nice heirlooms and furniture that they should have actually not sold.

She is done helping them and now they need what amounts to a bad credit loan to help them pay their credit card debt and also buy some essentials for the apartment they want to move into. They need a $4200 loan with a three year term to get them settled.
A $4200 loan with a 3 year term and 8.95% interest rate for Paul would cost him the following per month:

• Loan Amount (principal) = $4200
• Interest Rate = 8.95%
• Term Length =3 year
• Monthly Payment = $133.46
• Total Paid Back = $4804.60
• Total Interest = $604.60

Paul and his wife have made a lot of bad mistakes financially and personally over the years. One of the worst things you can do is have your in-laws upset with you.

Most parents will help their children out whenever they need help, however there is a limit and they seemed to have reached the limit of what the parents are willing to deal with.

The same applies to lenders. Although Paul and his wife are now working they have not really demonstrated very good money management skills and with a bad credit score they appear to be a high risk client.

What they may not realize is that items reported to a credit score can stay on their report for up to seven years. Even though they were gone from the country for two years, they still have reports from four or five years ago.

With the current missed payments reported to the credit rating agencies and their former issues, they are not a good credit risk at all.

Even with a gap of two years with no issues, their score quickly nosedived with the latest non payment issues. It is very unlikely that any lender will take this couple on as clients unless they can perhaps reduce the loan requirements or provide some sort of equity to provide a guarantee for their loan.

They may have to scrimp and save for a few years before they can apply for and be approved for a loan.

If you live in the State of Washington 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 WA

Last 5 debt service loans approved in the State of Washington. 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

14.88% 7.21% 12.51% 13.14% 6.32%

Washington Debt Consolidation Providers

Washington Debt Consolidation Loan Providers - Initial Static Image

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Lenders
contact us for listing removal or amendment.


American Financial Solutions
263 4th St Bremerton
WA 98337 - 888.282.5844
myfinancialgoals.org

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Debt Reduction Services
316 W Boone Ave #350, Spokane
WA 99201 - 509.323.0200
debtreductionservices.org

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Northwest Debt Relief Law Firm
1201 Pacific Ave #600, Tacoma
WA 98402 - nwdrlf.com
253.948.4622

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Inspirus Credit Union
5200 Southcenter Blvd, Tukwila
WA 98188 - inspiruscu.org
206.628.4010

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State Highway Credit Union
2632 Rudkin Rd, Union Gap
WA 98903 - sthwycu.com
509.248.5522

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Generations Credit Union
929 Eastside St SE, Olympia
WA 98501 - 360.357.5660
generationscreditunion.com

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Mountain Crest Credit Union
3710 168th St NE a108, Arlington
WA 98223 - 360.435.5400
mountaincrestcu.com

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Debt Consolidation Seattle
925 4th Ave Seattle
WA 98104 - 206.408.1512

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Whatcom Educational Credit Union
600 E Holly Street Bellingham
WA 98225 - www.wecu.com
360.676.1168

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Debt Reduction Services
7535 W Kennewick Ave, Kennewick
WA 99336 - 844.243.9350
debtreductionservices.org

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WA Debt Consolidation Application Form

Washington Application Form
Bad Credit Debt Consolidation Loans (?)
 

About Consolidation Loans In Washington

To all of our Washington State visitors - make sure before you jump into a debt consolidation loan be sure that it's actually the right solution for you. Read about your choices in our Should You Bother? section. A consolidation loan may not be the best idea for you.

If after learning about your different debt management options, and you believe consolidating is the right route to take, feel free to use our application form for bad credit borrowers. If your credit is fair to good, you can check out some of the providers we have listed above.

Consolidation Example in Washington

Ron from Spokane admits he is not good at managing his money. He likes to enjoy life now and worry about the future when it arrives.

He usually spends all of his paycheck and never sets aside anything for future expenses. He is good at paying his bills i.e. rent, utilities, car payments etc.

If there is any cash left, he will spend it on something. But now he needs a debt consolidation loan to help him move from one apartment to another.

He is moving to be closer to his new job. He will receive his original deposit back in a few weeks once the landlord has inspected everything and gets around to refunding his deposit.

In the meantime, he has to pay for his first and last month rent up front at his new place and also provided a refundable damage deposit. Because he spends everything he makes and lives from pay check to pay check, he does not have any money at all to pay for these expenses.

This is all about cash flow for him and not having any savings to help him through temporary extra expenses. He also just realized that he will have to wait two weeks before he is paid on his new job which is going to create even more cash flow pressure.

Who knew that changing jobs and moving at the same time would create such problems. It is a good thing that this new job pays more and has better long term prospects for him, otherwise it might not be worth it.

A $2000 loan with a 1 year term 9.65% interest rate for Ron would cost him the following per month:

• Loan Amount (principal) = $2000
• Interest Rate = 9.65%
• Term Length = 1 year
• Monthly Payment = $175.51
• Total Paid Back = $2106.08
• Total Interest = $106.08

Ron only needs $2000 to get him through this temporary cash flow problem. He would like a one year term to repay the loan. When he receives his original damage deposit from his previous landlord, he will use it to repay part of his loan.

Since he is going to be making a little more from this new job he should have sufficient cash flow to handle the added monthly expense.

Never the less he will have to watch his spending for a few months until he has repaid this loan or gotten used to the idea of having less to spend each month. Consumers like Ron should really develop some kind of savings plan that allows them to have some sort of savings to help them in situations like the one Ron is facing.

A savings plan would actually reduce his interest expense and save him money at the same time.Since Ron actually has a pretty good credit score, he should have no problems being approved for the loan.

He is moving and starting a new job at the same time, so he will be asked to provide a copy of his new lease and a letter from his employer to indicate that he actually has a new job and the salary that he is going to be paid. Once this is done, he should have no problem with the loan approval.

If you live in the State of Washington 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 WA

Washington 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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Seattle Credit Repair
502 2nd Ave Seattle
WA 98104 - creditglory.com
800.807.4388

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One by One Credit Counseling
1928 Virginia St #222, Seattle
WA 98101 - 206.629.2155

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CareOne Credit
701 25th Ave, Seattle
WA 98122 - 206.946.8315
www.careonecredit.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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