Bad Credit Loans Las Cruces, NM
Nestled in the South-Central portion of New Mexico, Las Cruces is something of a hidden gem in the state. A diversity of business types has allowed the bustling city to grow substantially since the year 2000, and the city serves as one of New Mexico’s educational hubs. However, Las Cruces faces plenty of problems that offset its continued success. To find the personal loan for bad credit in Las Cruces that you need, the Loans Discovery Program is the perfect option. The program allows you to instantly compare multiple offers for bad credit, without damaging your credit score, and at no charge to you!
Headway Offset by Financial Hardship
The 2000 census reported that there were approximately 74,000 people living in Las Cruces. By 2017, the population had exploded to over 101,000. With stable jobs provided by New Mexico State University, Las Cruces Public Schools, NASA, Walmart, and others, the city has been able to attract new working families, helping the city’s economy prosper. While there are many positive trends occurring in Las Cruces, there’s also been some negative patterns that the city struggles with.
A High Percentage of Poverty
As of census estimates from 2017, Las Cruces had an astoundingly high 24.4% poverty rate. The Department of Labor also reported that unemployment was growing in 2018, having reached 5.7% by December of that year. Not only are jobs difficult to find for some, but for nearly a quarter of the population, the rate they’re being paid comes nowhere close to matching what their expenses are.
A Large Concentration of Credit Card Debt
New Mexico had the distinction of being one of the worst states in the U.S. for household credit card debt in 2018. According to Business Insider, which ranked the state at #17, the average household in New Mexico carried about $7,952 in debt. By comparison, the national average was $5,700, and neighboring Texas averaged about $100 less, despite having more than ten times as many people as New Mexico. Considering that 16% was the average interest applied to unpaid card balances in 2018, credit cards have created a deep hole of debt that many can’t seem to crawl out of.
A Multitude of Shady Dealers Looking to Exploit the Situation
If high poverty and heavy credit card debt weren’t enough, many residents in Las Cruces also face being taken advantage of because of their bad credit. Since many lenders won’t work with credit scores below 600, many people are left with seemingly no choice but to turn to payday lenders. Under these high-risk, short-term options, lenders can extend up to $2,500 at up to $16 financing charge per $100. Under those conditions, you’d have to pay $400 just to access the money, and still, only have 35 days at most to repay. This was all perfectly legal under New Mexico Statutes §§ 58-15-32 through 38. However, since those were repealed in 2017, it remains to be seen what new laws the legislature will pass.
You Don’t Have to Risk it All to Borrow Money
Just because you have bad credit, it doesn’t mean there’s no hope for you to safely borrow money. You can still access safe, affordable lending options and protect your rating at the same time. How? With Loans Now! Our Discovery program has helped thousands of people find loans in New Mexico and across the United States. With our unique approach to matching people with offers that fit their criteria, we know we’re the best way to access money that you can get!
A Holistic Process to Find Your Money
Traditional lending agencies care about your credit score, and little else. Credit is just a number – it can’t explain what your struggles are or what you want to achieve. That’s why we consider every aspect of your financial life before we match offers to you. To ensure that you have enough variety to match what you want, our offers:
- Start at $500 and extend into the tens of thousands
- Permit as few as two or as many as seven years for repayment
- Never carry a prerequisite for collateral
- Don’t charge payoffs fines
- Likely have lower interest rates than you’d pay on a credit card
Since personal loans can be used for just about anything, you can borrow what you need and apply it where it matters most. Whether that means paying your monthly rent, consolidating your credit card debt, or helping to pay for a car repair, you choose where the money goes.
A Safer Way to Settle Your Debts
Traditionally, every lending search starts with a hard inquiry that will typically lower your score. With bad credit scores, that’s just not feasible, so we don’t perform initial checks. Rather, we use the score you give us to launch our search. Our process protects your credit, and we don’t collect information such as DOBs, addresses, or credit card numbers. Your information is completely safe. Additionally, unlike with credit cards, the interest rates through our offers are calculated and applied as part of your monthly payment. You don’t have to worry about guessing how much you’ll owe month to month, making your debt much simpler to manage.
Speedy Funding to Meet Your Timeline
You can’t afford to wait on a lender to come through when your bills come due, so we don’t make you. With a fast enrollment process, a quick return on your offers, and quick funding, you have the potential to have your money available in a matter of days!
Let Loans Now Put You on the Road to Financial Freedom!
You don’t have to keep struggling with debt while dodging scams. With our free service, you can settle your debts, enjoy a competitive rate, and get your money quickly while keeping your score safe. So, what’s stopping you. Enroll now and start taking back control of your credit!
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K