Looking for an Unsecured Personal Loan in Pennsylvania?
Looking to get rid of that credit card debt but you don’t make enough to pay it all off at once? That’s okay, the vast majority of Americans can’t either. In fact, over 110 million people have the same problem that you are having. That’s why credit cards exist, though — to afford the things we can’t buy for ourselves outright. Sometimes, the ability to buy overrides our sensibilities and our ability to pay, and we can, at times, get a little carried away. That is just one of the reasons our Loan Discovery Program exists, to retake control of our finances when we have gone astray.
If you are unable to pay off all of your credit card debt outright, as most of the country is unable to do, then your next best option would be to take out an unsecured personal loan. By consolidating your credit card debt with a personal loan, you are doing more than wiping your credit cards clean. You are saving yourself a lot of money in the long run. With balances on your credit cards, you are accruing interest with each billing cycle, adding more and more to the total amount you owe. A personal loan is removing that monthly interest rate and giving you one low, yearly rate with a single monthly payment to keep track of.
Unsecured Loans for People with Bad or No Credit
So you have decided it is time to clear your credit card debt. Unfortunately, you are finding that, because of that credit card debt, no lender is willing to work with you in your consolidation efforts. The damage has been done and you now have bad credit because you allowed the spending bug to get away from you. Yes, you have made some mistakes, but Loans Now overlooks these. We work with more than just your credit score (check your credit score here). We work with your current situation as well as your intentions to find the best unsecured personal loan to achieve your goals.
- There is no fee associated with our service
- There are no initial credit checks with our service
- You will have up to 7 years to pay back the loan
- You can take out loans in any amount between $500 and $70,000
- Interest rates can be as low as 4.99%
- You can receive your money in as little as 24 hours
The above are just some aspects of how it works. This all adds up to a great method of fixing those past mistakes. Don’t let that credit card debt that caused your bad credit continue to negatively affect your credit. Let us work with you and find you a bad credit personal loan to not only stop the credit cards but also get you started on the road to rebuilding your credit.
Pennsylvania is Great, but Not Perfect
Pennsylvania is known as the Keystone State. It is the keystone of the young United States of America, being a place of religious freedom and commercial center long before the birth of the country. Agriculture, especially in the way of mushrooms, remains a leading industry for the state as does more industrial sectors such as steel production and coal mining. A vast majority of the snack foods produced in the world are done so in Pennsylvania. Most products made from chocolate come from within the state, primarily out of the town of Hershey.
Even with so much industry leading to the commonwealth’s success, there are unfortunately several factors holding it back. Credit card debt affects millions of Pennsylvania’s 12.7 million people. Although the average credit card debt amount is one of the lower amounts in the country, $6,100 is still a lot of money to be owing on credit cards. And considering the fact that interest is added in each billing cycle, that’s a lot of money to be spending for the privilege of owing to the credit card companies. If you are a Pennsylvanian with credit card debt, consider a personal loan to consolidate that debt and save yourself a lot of money rather than wasting it.
Pennsylvania Laws and Regulations for Bad Credit Personal Loans
In the State of Pennsylvania (technically, it is a Commonwealth), there has been a maximum interest rate set for unsecured personal loans. In the Pennsylvania Statutes Annotated, § 41-201, it states that this rate is set at 6% per year on loan amounts less than or equal to $35,000. For loan amounts higher than this, the limit on the amount of interest is not dictated by law. This requires both parties to be open to negotiation in order to come to an agreeable amount of interest for a loan.
This usury limit also comes with penalties for lenders who attempt to take advantage of commonwealth residents. If a company or person is found charging over the legal rate of interest, then that lender must repay in triplicate the excess amount of interest and charges as well as cover any attorney’s fees the borrower may accrue (§ 41-502, § 41-503). They may also have to pay a fine of up to $10,000 per offense (§ 41-505). This makes the act of usurious lending a lot less attractive for unscrupulous companies and individuals.
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
Pennsylvania Personal Loan for Bad Credit Lending Regulator
The Department of Banking and Securities is responsible for monitoring the business practices of banks and financial institutions in the Commonwealth of Pennsylvania. This division of the executive branch conducts regular exams of businesses operating within the state’s jurisdiction, investigates complaints made against companies by consumers, and issues licenses for organizations to conduct business within Pennsylvania.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K