Bad Credit Loans Huntsville, Al.
Huntsville is a city that has enjoyed a boom of economic prosperity for a long time now. With an economy based primarily on space flight, defense, and biotechnology, the city has become one of the premier centers for science and technology in the nation. However, not everyone has access to these high-paying positions and those who do face some unique financial challenges. If you’re caught in a trap of seemingly endless debt, the solution you need may be a personal loan for bad credit in Huntsville. With our Loans Now Discovery service, you can find the type of offer that suits you best, quickly and safely.
Failure to Launch in Rocket City
As the home of both NASA’s Marshall Space Flight Center and the U.S. Army’s Redstone Arsenal, Huntsville has enjoyed a strong economy tied closely with emerging technologies for rockets and space exploration. Biotechnology also has an increasing presence in the city and combined, Huntsville generates around $17 billion every year. However, the city still faces some unique challenges when it comes to money.
Not Everyone Qualifies for Well-Paying Jobs
To work for the likes of NASA or the Army’s Missile Command, you need advanced training and a bachelor’s degree, if not higher, for the majority of positions. Not everyone holds those certifications, and they’re often left with jobs that barely pay the bills. Huntsville still had a poverty rate of 18.3% in 2017, which translates to about 35,600 people living in financial turmoil.
Those That Do Qualify Can Still Lose Their Pay
The salaries for both NASA and U.S. Army personnel are accounted for in the federal budget. In cases where Congress fails to ratify a working budget or resolution, the government will temporarily shut down. During these periods, many federal employees, including those in Huntsville, are either sent home or told to work without pay. As of 2019, the record length for one of these temporary shutdowns was 35 days. That’s over a month that federal employees can potentially go without pay, and for many, that’s far too long.
Conditions are Ripe for Predatory Lending
In a city where poverty is strong and people can suddenly find their salaries cut off, you’ll find the worst type of financial dealer out there. In Alabama, there are over 1,070 payday storefronts, many of which are clustered near Huntsville. Under Alabama’s Deferred Presentment Services Act, payday lenders can:
- Charge a maximum APR of 456.25%
- Only extend $500 per transaction
- Provide as few as 10 days to repay your debt
- Apply a 17.5% financing charge to every $100 you borrow
- Only wait one business day before allowing you to borrow again
While payday lenders have been justified as a method for those with poor credit to ease their burden, the exact opposite has often occurred. Many borrowers find they cannot pay the high charges and end up defaulting. Many more find that paying off the transaction costs them so much that they need to borrow again to get by. Thus begins a rotation of endless debts that keep Alabamians on a merry-go-round of financial hardship.
You Can Get Money without Becoming Trapped in Debt
For many of Huntsville’s poorest residents, and for those who need money fast, the payday lender has become their default option. They’ve been led to believe that payday lenders are the only ones who will work with their bad credit and get their money quickly. This isn’t true at all! Many lenders in Alabama and across the U.S. are prepared to offer you great rates with fair repayment terms. At Loans Now, our job is to help you find them!
Great Offers Designed for Poor Credit
With payday lenders, you’re limited in the amount you can borrow, and especially limited in the time you’re given to pay back your money. You’re facing enough hardship as it is, and that will only compound the problem. That’s why our offers are designed to support your goals and your timeline. We start at $500 but can offer thousands more. Two years repayment is our starting timeline but up to seven years are available. Our APRs will never exceed 35% and none of our offers require collateral.
No Risk and No Obligation
You can’t afford multiple hard inquiries against your score, and we recognize that. We use your current score, as reported by you, to match the offers that fit your goals, and we work with scores as low as 450. Our service doesn’t lend money directly, is completely free, and you’re under no obligation to select any of the offers our lending partners provide. Your information is kept completely in-house, so there’s no danger in your boss or another agency finding out about your bad credit from us. We understand your position may require a security clearance, and we don’t want to jeopardize your career.
Speed to Offset a Shutdown
If you’re working without pay, we’re fully aware that you can’t endure a delay on your loan. We structured our enrollment questionnaire to take just minutes to complete. Once you’ve discussed your situation with your assigned consultant, you typically have your offers within a 24-hour period. For the majority of our clients, their money is available by the following business day.
Find the Offer You’re Looking for with Loans Now Today!
You don’t have to rely on shady dealers when you need money, and you don’t have to risk your credit either. Our business caters to people struggling with debt who have nowhere else to turn. With our free service that’s fast, secure, and fair, we’re confident we’ll become your #1 resource for accessing money when you need it most. Don’t keep turning to options that don’t work – enroll in our Discovery program today!
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K