Looking for an Unsecured Personal Loan in Arizona?
Are you in need of money, but lenders keep turning your requests for help down? Do they tell you that you do not have a good enough credit score? Access to financial options can be a challenge for people with bad credit. It is even more difficult for someone who lacks a credit history. And submitting so many requests for financing is not helping; in fact, it is actually damaging your credit score even more! That is why Loans Now is here: to provide people with options to help them get the money they need when they need it, and without worsening their credit any more than it may already be. Our Loan Discovery Process is your path to receiving the funds you need, even with little to no credit.
Each time you submit an application to a lender, they pull up your credit score. If you’ve submitted to 20 different lenders and have received 20 denials, not only do you not have the money you need but your credit score has been negatively affected 20 times. This may cause you to turn to take out a title loan or a payday loan. Stay away from these types of loans! They can trap you in a cycle of borrowing and reborrowing, keeping you indebted to the lender. Instead, let us help you get an unsecured personal loan to help your situation.
Unsecured Loans for People with Bad or No Credit
How hard has it been trying to find a loan provider that will work with your current credit situation? How stressful has it been hoping you will be approved and waiting for a response, only to get turned down again? The typical lending process can be extremely taxing on a person, especially if there is an immediate need for money. Loans Now practically eliminates that stress by working with you to find the option that fits your needs. Some of the ways we help are as follows:
- We explain How It Works
- We provide you with a simple form that only takes 60 seconds to fill out
- We assign a dedicated team member to your situation
- We consider credit scores as low as 450
- We provide our services for free
If you have tried to work through other lenders, more than likely you have seen your credit score. We want to help minimize any damage to your credit score. That is why we do not pull your credit up front. You simply fill that information into the questionnaire. Not knowing your current credit score is not a problem, you can check your credit score on your own; checking your own credit score will not count against you, so if you are concerned about making matters worse, don’t be. The process is designed to help you, not hurt you!
Payday Lending in Arizona
To expand on the issue of payday lending, you must first understand that payday loans are illegal in the state of Arizona (this was done to prevent usury lending and save the citizens of the state millions of dollars in high-interest rates, overdraft fees, and other finance charges). Arizona is also one of 17 states in the US to outlaw these types of loans. If your situation has you considering going over state lines to pursue a payday loan, know that you can’t. If any of the surrounding states permit these types of loans, those lenders are restricted by law to the residents of that particular state; they will not be able to help you.
Again, you do not need their help. Yes, it can be frustrating after being denied so many times for a loan, but payday lending is not a viable option. The finance charges can typically be anywhere between 165% to nearly 500%, even more so if you take out a payday loan through a Native American Tribal Lender (who are not restricted by state law). The fees can add up and you may find yourself short on funds again after paying off the original loan. This could lead you to take out an additional payday loan, beginning the cycle of entrapment mentioned above. Allow Loans Now to help you instead! The interest rates on our loans can oftentimes be lower than our competitors, and are certainly lower than any payday loan!
Arizona Laws and Regulations for Bad Credit Personal Loans
The State of Arizona dictates the percentage rates lenders are permitted to add to the principal of a loan. Title 6-632 of the Arizona Revised Statutes describes these percentage rates as such: 1) any borrowed amount equal to or less than $3000 can be assessed a finance charge not to exceed 36%, 2) any borrowed amount exceeding $3000 can be charged a fee of 36% on the initial $3000, and a fee not to exceed 24% on the portion of the principal higher than the $3000. Voters approved this law in 2008 to prevent predatory lending and keeping consumers in a cycle of debt.
Arizona also determines the length of time a loan can be scheduled for, based on the amount of the principal borrowed. For loans of $1000 or less, the scheduled term for the loan cannot exceed 24 months and 15 days. The limit for a loan between $1000 and $2500 is 36 ½ months. Any amount loaned between $2500 and $4000 is restricted to a 48.5-month term, while a loan between $4000 and $6000 can have a 60 month and 15-day limit. If the loan is above $6000, the scheduled term can be one that both parties can agree to.
Loans Now: Core Policies & Procedures
- Never collect or share sensitive customer information: SSN, DOB, Address.
- Never collect up-front payment to process a customer’s loan application / or fund a loan. Loans Now will NEVER ask you to send us money in any form.
- Introduce customers to our Loan Discovery Process. A one-on-one loan service strategy that fits every customer’s unique needs with the right lender for them
Arizona Personal Loan for Bad Credit Lending Regulator
The Arizona Department of Financial Institutions regulates the consumer finance industry. This department is responsible for both banks and lending institutions that provide loans. The AZDFI has a form available online for the purpose of reporting an unfair practice if a resident of the state believes the lender is breaking the law.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K