Looking for an Unsecured Personal Loan in Oregon?
Lost some hours at work because of an illness or medical condition, and now you are discovering that you are short on making your monthly payments? This can be a tough situation, especially if that illness or condition is a recurring one. Lost wages add up over time, and something is going to suffer because of it. Instead of risking your vehicle being repossessed, your utilities being shut off, or your family being evicted from your residence, turn to Loans Now for help. With the Loan Discovery Program we have in place, we can find you the money you need to stay current — fast!
What’s even worse is that not only have these conditions incapacitated you, causing you to miss work, but you have probably been having to pay for doctor’s visits with each occurrence of the illness. If you were hospitalized, insurance only covers so much, leaving you to pay a rather large bill. Well, with so much missed time, how are you going to afford these medical expenses on top of your regular bills? With an unsecured personal loan, you can have everything umbrellaed under one payment that fits your typical monthly budget.
Unsecured Loans for People with Bad or No Credit
So, what if you have bad credit, can you still receive a loan to help cover all of these bills that you just can’t pay right now? The answer is “yes.” Even if your credit score is 450, we can work with you in finding the right solution for your financing requirements. If you know your credit score, then you are ready to start the process. If you do not know your score, be sure to check your credit score first; we need this information and ask you to provide it to us for the following reasons:
- Checking your own score is usually free
- Checking your own score keeps us from having to charge a fee
- Checking your own score does not penalize your score
- Checking your own score allows you to make plans to repair your credit
- Checking your own score speeds up the overall process
We do not conduct a credit check upfront; this helps protect your current score. If you wish to learn more, visit our How it Works page. If you have your credit score and are ready to find an unsecured personal loan to solve your financial shortfalls, then take 60 seconds and complete our loan discovery questionnaire. The sooner you get started, the sooner you could have the money you need for those bills and medical expenses!
Oregon Prospers, but Not All Oregonians Prosper
In 2015, Oregon was accredited to having the best-performing economy of the 50 US states. Today, it still enjoys a healthy economy, ranking 6th in the nation. From a growth perspective, it is still expanding, with job growth in Oregon ranking 3rd in the entire country. Part of this is because of the industries entering and prospering in the state. Oregon has a large nursery/greenhouse industry as well as a large number of hazelnut growers and wineries. Manufacturing and service industries are taking hold, especially in Portland. It also has a major trading industry with several Asian countries and Canada.
While the state has been prospering, not everyone has felt the positive changes. Workers in the fishing, agriculture, and timber industries are finding the demand for their products waning as new industries and a younger generation moves into the state. These people may find it hard to transition to a new career field or the need for their products may require them to stay with a not-so-profitable industry. If this is the case for you, consider taking out an unsecured personal loan to help make up the difference when the paychecks are just not enough to cover everything.
Oregon Laws and Regulations for Bad Credit Personal Loans
Unless otherwise contracted for, the legal limit on interest allowed on a loan issued in the State of Oregon is set at 9% (Oregon Revised Statutes § 82.010). However, if a loan is made with terms in writing, then a lender may charge no more than 12% on loans of $50,000 or less. Another option for the maximum interest rate on such loans would be to add 5 percentage points to the Federal Reserve’s discount rate. This rate is currently at 3%, which would bring this alternative interest cap to 8%. It is, however, the greater of the two options that Oregon law permits.
In the same section of the Oregon Revised Statutes, the law states that any lender who conducts usurious lending — issuing a loan and charging an amount of interest in excess of the legal limit — will forfeit the right to charge any interest on the loan. Considering the interest rate is how lending institutions gain a profit and continue operating, this can be a major penalty for such unscrupulous lenders. The borrower remains responsible for repayment of the principal amount but does not have to pay the finance charges that were originally attached to the borrowed amount of money.
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
Oregon Personal Loan for Bad Credit Lending Regulator
The Department of Consumer and Business Services attempts to strike a balance in the State of Oregon between consumer protection and a strong business environment. To that end, the department regulates lending in the state, chartering state banks and licensing lending institutions to conduct operations in Oregon. It also takes complaints against those institutions seriously and investigates allegations of usurious lending.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K