Bad Credit Loans Lafayette, La.
As the second most populated city in all of Louisiana, Lafayette has experienced constant growth over the past century. New industries seamlessly integrated with old ones to create an economy that’s diverse and strong. But that doesn’t mean everyone in the city is prosperous. If you need a personal loan for bad credit in Lafayette, our service is perfect for you. The Loans Now Discovery program allows you to compare different lending offers for bad credit, with no initial credit checks, and no fees or charges.
A Growing Economy, with Mounting Debt
Within Lafayette, agriculture, natural gas, healthcare, and education dominate the economy. The city is home to The University of Louisiana at Lafayette, the second largest university in the state, with over 17,000 actively enrolled students. Supported by these growing industries, the household income in Lafayette increased from $35,996 in 2010 to $48,533 in 2017. Sadly, income wasn’t the only thing that increased during that period.
Financial Hardship is Growing Too
As of the 2010 census, only 16.3% of the city’s population lived in poverty. By 2017, it had grown to a rate of 19%. While more jobs helped Lafayette to grow and improve, it also increased the cost of living. For people with jobs that didn’t pay much to begin with, the development of the city means that affording basic necessities is far more difficult. Paying larger debts, like monthly rent or mortgage payments, is harder still.
Growing Student Debt
While the university system is a major supplier of jobs in Lafayette, it’s also one of the biggest contributors to debt in the city. In 2018, over 44 million Americans carried student loan debt, totaling over $1.5 trillion. Debts grew by about $29 billion between Q1 and Q2 of that year, and there was $32.6 billion worth of delinquent payments. College students are especially prone to money problems since very few can manage a full-time job and a full course load as well. Additionally, most college students don’t have an extensive credit history, making it difficult to borrow money when they need it.
Safe Alternatives are Hard to Find
Bad credit often means that you’ll never get a loan from a bank or typical lending agency. They usually want to see at least a good credit score and make hard inquiries to verify your rating. For people with bad credit, the risk to their score is often enough to rule out working with traditional vendors. The other common alternative, payday lenders, are even worse. They will work with bad credit, often not checking credit at all. However, they also charge upwards of 780% APR, only extend up to $350, and limit repayments to 60 days or less. This is perfectly legal because of Louisiana Revised Statute 9:3578.4 but that doesn’t make it a safe option. On the contrary, payday loans are one of the worst options that people with bad credit can opt for. They often trap people in debt by charging more than double the amount that people borrow.
We Can Get Your Money Safely and Quickly
Whatever you may have been led to believe, you can get a great loan in Louisiana with your bad credit, without having to resort to scams. It’s possible with our Discovery program! With our service, you can find exactly what you’re looking for, at rates that won’t leave you struggling with more debt.
We Present Options Based on Your Needs
We’re fully aware that your circumstances are unique to you, and a package lending offer may not suffice. That’s why we work with many different partners to provide offers that:
- Allow you to borrow hundreds or thousands if you need it
- Range between two years to seven years
- Charge interest rates potentially lower than 6%
- Don’t require car titles, home leases, or any form of collateral
- Don’t charge fees or penalties for early repayment
With personal loans, you can put the money where you need it most, whether that’s a mortgage payment or to help pay your college debt. We’re confident that our free service can find an offer that perfectly suits your needs, but if we can’t, you’re not under any kind of contract to use our offers.
We Don’t Risk Your Credit to Find Your Offers
We understand that you may be dodging traditional lenders to protect your credit rating, and we don’t blame you. Our service initially uses the credit score that you provide to match your offers, so you don’t have to worry about it dropping to compare rates. Your information is secure with our network, and we don’t provide your information to any third parties. You won’t get any unwanted offers or checks on your credit.
We Reduce the Time it Takes to Get Money
Finding the best lending offer can take days or even weeks. Even then, traditional vendors can take upwards of a month to approve your application and fund your loan. We know that’s far too long, so we created a system that moves at the rate you need it to. Enrolling in the Discovery program takes only minutes, and your offers are generated within 24 hours in most instances. The majority of our providers can fund your request in as little as two business days, so you get your money well before the due date on your bills comes.
Find Your Best Offer Today!
Our mission is to match people struggling with debt with the money they need to improve their lives. For over 500,000 clients, that’s exactly what we’ve done, and we’re ready to serve you too! Complete the 5-minute questionnaire and let us find your ideal offer today!
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K