Looking for an Unsecured Personal Loan in Vermont?

credit check for unsecured personal loan VermontShopping for loans of any kind can be incredibly frustrating, especially if you have bad credit. Traditional lenders tend to turn you away but only after they’ve made a hard inquiry, lowering your score. Scammers are even worse, trapping you with recurring debts that make it all but impossible to repay your loan. That’s why we created the Loans Discovery Program. This free service compiles multiple loan offers for you to compare, ensuring that you get the best rates available, all while protecting your credit score! To date, we’ve helped over 500,000 borrowers find their perfect loan, and we can do the same for you!

The secret to our success is in how our process works. We recognize that you are more than the sum of your credit score, so we provide lending solutions catered to your needs. Whether you have poor credit or excellent credit, there’s plenty of great options for you. If you’re comfortable navigating the lending process yourself and know exactly what you want, we have options with preset rates and fees that you can access immediately. If you need more help, we can assign a personal consultant to you, and help you compare different options that fit your search criteria.

Unsecured Loans for People with Bad or No Credit

You may be hesitant to apply for a loan, either because you’re scared of the risk or have had bad experiences in the past. We understand your reservations, and that’s why we optimized our process to be fast, efficient, and safe. Your information isn’t shared with anyone at any time. We require at least a 450 credit score, but to verify it, we give you the resources to check your own score. It gives us what we need to help you, but protects your rating! Since our options are all unsecured, you’ll never have to promise your car title, or any other asset, as collateral. Additionally, our lending offers are for personal loans, which can be used for things such as:

  • Paying an emergency medical bill
  • Renovating your home
  • Repairing your vehicle
  • Consolidating credit card debt
  • Funding a vacation
  • Paying your monthly rent or mortgage charges

What you use the money for is up to you, and bad/no credit is no barrier! Our only concern is providing access to the best unsecured personal loans you can get! That’s why we provide our services completely free to you, without any obligation to use any of the offers we provide. There’s no risk to your credit or finances with Loans Now!

Stagnant Growth in a Progressive State

By and large, the citizens of Vermont live comfortable, if not glamorous, lives. Median household income was just around $10,000 less than the national average in 2017, and the poverty rate was below average at 11.3%. However, that doesn’t mean everything is perfect in Vermont. It’s been consistently ranked as one of the least friendly states for business in the U.S., and job growth has been very slow. So slow in fact, that the state’s population actually declined between 2010 and 2017. Without new opportunities coming in, many Vermont citizens are choosing to seek their fortunes elsewhere.

For those who remain, the chance to make a lot of money is somewhat limited, and the cost of living is steep. In 2018, the state’s cost of living index ranked at 101.0, a full point higher than the national average. Groceries, utilities, and housing all ranked above the national average for other states. What Vermont residents save in healthcare and transportation costs, they pay for in expenses that recur far more frequently. For people in the state with low-paying jobs, they may find themselves having to take out a loan just to afford monthly expenses.

Vermont Laws and Regulations for Bad Credit Personal Loanscredit score

Vermont is one of the best states in the entire country when it comes to protecting its citizens from shady dealings. Per Vermont Statute 9 V.S.A. § 41a, interest rates for all small loan types are capped at 18%. Additionally, 9 V.S.A. § 42 stipulates that lenders may only charge fees associated with credit investigations and convenience fees associated with accessing their service. 9 V.S.A. § 43 states that lenders cannot demand a cash advance to secure a personal loan. Finally, 9 V.S.A. § 45 prevents lenders from charging a penalty fee if borrowers repay their loan early.

By far, the most critical thing that the Vermont Legislature has done is outlaw the practice of offering payday loans via deferred deposit. Under 8 V.S.A. § 13, licensed lenders in the state may not offer loans against a held check, one of the most common practices implemented by payday lenders. This has effectively eliminated both payday and title lending in the state of Vermont. However, residents can still drive to neighboring states to access these predatory loans if they so choose. While this protects Vermont residents, it can also limit alternatives to borrow money if regular lenders turn them down.

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

Vermont Personal Loan for Bad Credit Lending Regulator

The State of Vermont’s Department of Financial Regulation is responsible for ensuring that financial institutions under their purview are licensed to operate within the state and comply with state lending laws. They offer consumers the ability to verify that a lender is licensed to do business in the state. They also handle any complaints that consumers may have about unfair or illegal lending practices they’ve endured.

Regulating Agency

Department of Financial Regulation

89 Main Street
Montpelier, VT 05620-3101
Phone: (802) 828-3301
Email: dfr.bnkconsumer@vermont.gov

Processing Agency for Consumer Complaints

Department of Financial Regulation

Banking Division – Consumer Assistance
89 Main Street
Montpelier, VT 05620-3101
Phone: (802) 828-3307

Personal Loans Starting at 4.99%
  • Loan Discovery Process
  • Credit Scores Reviewed to 450
  • 2, 3, 5 & 7 Year Terms
  • Loan Amounts $500 - 70K

No Initial Credit Check!

* Using tool will not lower your score.
* We do not share your information.
* You will not receive any unwanted contacts
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