Bad Credit Loans Fresno, Ca.
Despite being California’s fifth largest city, Fresno isn’t doing as well as some of its neighbors. High unemployment and poverty have many residents trapped in debt, and there don’t seem to be any easy solutions. A personal loan for bad credit in Fresno may be your only option, and we can find you the best deal. Our Loans Discovery Program lets you compare offers that are matched to your specific criteria, saving you time and ensuring you get the best rates.
Desperate Times in the Golden State
As far as city economies go, Fresno has some of the grimmest prospects of any mid-sized city in America. It’s struggled for decades against poverty and crime and has often failed against both. The only real sources of employment in Fresno are medical centers and the city government. Both industries often require more training and certifications than many Fresno residents have. For many, it’s led to a daily battle against debt and homelessness.
No Money, No Job, No Hope
As of 2017 census estimates, Fresno had an astonishing poverty rate of 28.4%, which equates to nearly 150,000 people within the city. The median household income was just $44,853, which may seem like a lot, but in California is considerably small. To make matters worse, Fresno had one of the worst unemployment rates of any American metro area in 2018, at 7.5%. As a final sad note, there were about 1,572 homeless people in Fresno in 2017, according to an independent survey by the Fresno Bee. All of these factors combine to create one of the most unlivable cities for working families in America.
Credit Card Debt is Skyrocketing
Many California cities, including Fresno, have found themselves trapped in credit card debt. As revealed in a 2018 study by Business Insider, California had the unenviable distinction of being one of the worst five cities in America for credit card debt. According to the report, the average California household carried $10,496 in credit debt each month. In 2018, the average credit card interest rate was 16%. If a family were to pay as much as 25% of that balance, that would still leave $7,872 unpaid. Applying the average interest would add on another $1,260 to their remaining total.
Making the minimum payment on a credit card will keep the debt collectors off your back, and keep your credit score from dropping. However, it means that interest continues to grow, making the minimum more and more difficult to pay each time.
Payday Lenders Get a Free Pass
For people with bad credit and high credit card debt, a payday loan can seem like the perfect solution. There’s often no credit checks, your approval is assured, and you can often have your money in less than a day. However, these are all breadcrumbs designed to lead you into a trap. Consider the following:
- California payday lenders can charge a maximum APR of 459%
- They can charge up to 15% at a maximum lending rate of $300. That means you’d only receive $255.
- Payday deals can only last up to 31 days, though many lenders demand you pay much quicker
- Defaulting or missed payments can still be reported, meaning your credit will still suffer
- You can only have one outstanding payday transaction at a time
The only real governing legislation in California for payday lenders is the California Deferred Deposit Transaction Law. While it does limit lending amounts and fees, it does nothing to cap interest rates. The result is that people become so overwhelmed with debt that they need to borrow money to pay off the first transaction. This cycle can continue indefinitely.
You Don’t Have to Live with Debt in Fresno
You might think that you don’t have any good options to get money in Fresno. Between a lack of jobs, growing credit card debt, and a multitude of unethical lenders, there don’t seem to be any good options left. Loans Now is the option you’ve been desperate to find! We’ve achieved great success for people seeking unsecured loans in California, and all over the United States! With over half a million success stories under our belt, we’re confident that our proven process can work for you!
Offers Custom Matched to You
Our belief is that you can’t sum up a person with a credit score alone. That’s why we look at your entire situation when we generate offers for you. With our program, you have the potential to borrow thousands of dollars, pay much lower interest rates than on a credit card, and have several years to repay your debt. We also don’t accept any kind of collateral, and there’s no charge for using our program.
A Method to Protect Your Credit
We don’t make initial checks on your credit, so you don’t have to worry about it dropping. We give you everything you need to determine what it is and include it in your questionnaire. We validate that you have the 450 we require and your score stays safe. We don’t think that working with us gives us the right to share your information, so we don’t. All of your private data is secure with us.
A Fast Process for Quick Delivery
You can’t afford to miss bill payments when you have bad credit, so we work to get your money quickly. Registering for our process is quick and simple and you’ll normally have your offers 24 hours after you’ve submitted your questionnaire. Once you’ve discussed your options with your assigned consultant and made your decision, our vendors typically have your money in a single business day.
Pay Your Debts with an Unsecured Loans Now Offer Today!
You don’t have to struggle with poverty, and you don’t have to settle for traps that keep you in debt. Take the few minutes it requires to enroll and let us help you find your ideal solution today!
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K