Looking for an Unsecured Personal Loan in Indiana?
Did your medical bills get sent to a collection agency and now they won’t stop hounding you until you pay off the debt? It can be frustrating trying to pay for so many visits to the doctor and multiple trips to the hospital; it is added stress on top of the medical condition you are faced with. You do not need the anxiety that the harassing emails and phone calls from collectors causes. End the calls now with an unsecured personal loan through Loans Now! Our Loan Discovery Process will determine what your needs are and find lenders who are able to help you manage those medical bills.
The collection agencies are probably demanding the account be paid in full in one or two payments, and sooner rather than later. That is not always possible. To do so would require you to use money that would normally go towards your vehicle payments, utilities, or rent/mortgage. That will put you off in a far worse situation than simply owing someone money. This could leave you without the necessities of living. With an unsecured personal loan, you can pay the collection agencies and give yourself more time to repay the loans.
Unsecured Loans for People with Bad or No Credit
What if you’ve tried to take out a loan to cover your bills before but other lenders have turned you down? Work with us, and we will work with you. We have a network of lenders capable of assisting you with paying those medical bills — or any bill, for that matter — regardless of having bad credit or no credit. There are many benefits to relying on an unsecured personal loan from Loans Now, aside from getting the creditors to stop calling you, including:
- Gives you three to five years to pay off the debt (collectors want it in weeks)
- Are NOT payday loans (no debt entrapment)
- Prevents you from falling behind on other bills (robbing Peter to pay Paul doesn’t help)
- Amounts between $500 to as much as $70,000 (pay multiple bills at once)
- Access your money within one to two business days (sometimes sooner)
- Considers credit scores as low as 450
To learn more, see our How It Works page. Once you’re ready to take the steps necessary to get those medical expenses behind you, check your credit score and fill out the quick, 60-second questionnaire to get started. From there, a dedicated team member will work with your situation and find you the best options to help you out of that situation.
Strong Economy, Weak Health
While the state may be one of the more fiscally responsible in the nation, its quality of life is extremely low. Indiana ranks within the bottom five states in terms of industrial toxins and health risks caused by pollution. The quality of drinking water is fairly low as well. All of this, combined with the fact that the obesity rate in Indiana is higher than the US average, adds up to Indianans having more long-term health concerns than most of the country. This means that there are a lot of chronic illnesses and conditions causing repeated visits to a medical facility.
Multiple visits to the hospital can add up as well. Bills in the hundreds of thousands of dollars are not uncommon, and this is after the insurance companies cover their portion of the procedures or treatments. And that is if there is an insurance company to contribute to the costs. Nearly 10% of Indiana’s population goes without health insurance each year. When the medical bills get to be too much for your monthly budget, do not hesitate to seek assistance. Loans Now can provide you with an unsecured loan to take care of those expenses and disperse them over the course of several years. You can breathe easier knowing that those hospital trips are paid for.
Indiana Laws and Regulations for Bad Credit Personal Loans
Indiana has a slightly awkward approach to its regulation of interest rates on credit and loans. The state uses a tiered system where the initial $960 of the borrowed principal is financed at 36%. Following that, any part of the principal up to $3,200 can be assessed a charge at 21%. Any part of the loan principal above $3,200 can be charged a 15% fee. Lenders have a second option to determine the maximum finance charge, and that is to apply a flat rate of 21% to the loan. Creditors are legally allowed to go with whichever is the higher of the two options. Now, in the case of an unsupervised loan, where a friend or family member (someone who does not regularly participate in the consumer finance industry) borrows out money to someone, the legal limit that lender is allowed to charge is 21% per year on the loaned amount.
There is also a minimum finance charge specified in Indiana law. They are allowed to assess a $36 fee in certain situations and under certain conditions. This is usually in the case of a debtor repaying a loan early and the contracted finance charge is not fully collected, and the amount collected is less than the $36 minimum finance fee.
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
Indiana Personal Loan for Bad Credit Lending Regulator
The Department of Financial Institutions is Indiana’s tool for regulating the consumer finance industry within the state. It has the authority to issue and revoke business licenses as well as manages and investigates complaints made against possible usurious practices.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K