
Darryl founded Smith Financial Advisors Inc. in 2006 after over 30 years experience in financial services including Mergers & Acquisitions, Investment Banking and traditional Commercial Banking activities at Bank One. Smith Financial Advisors is a Registered Investment Advisor in the State of Illinois. The firm specializes in Investment management, financial planning, and retirement planning.
Best Bad Credit Loans in Louisiana, LA
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Loans for Bad Credit Lending Regulators
Louisiana Office of Financial Institutions
8660 United Plaza Boulevard
Baton Rouge, LA 70809
(225) 925-7535
www.ofi.state.la.us/
Office of Financial Institutions
Post Office Box 94095
Baton Rouge , LA 70804-9095
(225) 925-4660, or (888) 525-9414
www.ofi.state.la.us/
Local Loan Banks and Credit Unions
- Abbeville
- Alexandria
- Baker
- Bastrop
- Baton Rouge
- Bayou Blue
- Bayou Cane
- Belle Chasse
- Bogalusa
- Bossier City
- Central
- Chalmette
- Claiborne
- Crowley
- DeRidder
- Destrehan
- Estelle
- Gardere
- Gretna
- Hammond
- Harvey
- Houma
- Jefferson
- Kenner
- Lafayette
- Lake Charles
- Laplace
- Luling
- Mandeville
- Marrero
- Metairie
- Minden
- Monroe
- Morgan City
- Moss Bluff
- Natchitoches
- New Iberia
- New Orleans
- Opelousas
- Pineville
- Prairieville
- River Ridge
- Ruston
- Shreveport
- Slidell
- Sulphur
- Terrytown
- Thibodaux
- West Monroe
- Zachary
Where to Get a Personal Loans for Bad Credit in Louisiana?
To get a personal loan in Louisiana, you can either apply online, on the phone or through physical branches. However, it's best that you apply online as it offers a multitude of advantages.
For example, it helps save time. If you have any financial challenges, then online loans are your best option. This is because when you're borrowing money, you only have to fill out a few details compared to the standard way of applying for loans.
Once your loan has been approved, you will get a confirmation message. This will save you a lot of money in the long run.
When searching for a reliable financial institution, we suggest that you pick one that has the lowest rates. Most of the best online lenders give the best rates based on the loan you’re trying to take. This is why you have to change and search for online lenders that have the lowest rates.
How to Get Bad Credit Loans in Louisiana, LA?
How do you get a bad credit loan in Louisiana? While it might be a lengthy process, you’ll be able to get your first loan within a few days.
To get the loan you want, you have to make sure that you have the appropriate documentation and information, that's requested by your lender. We suggest that you do everything to help your lender, this includes:


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Filling out the application with your information.
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Provide the requested documents as quickly as possible.
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Correct any mistakes that are on the application.
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Being honest and open about your income and other financial debts you have.
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Follow up with any information needed.
Applying for personal loans with poor credit doesn’t have to be a complicated experience, if you know what to expect and prepare yourself properly, you should be able to get financed by a lender who understands your financial needs.
To make the process easier, you’re going to need to look at your credit history. We’ll explain further how to improve your history to increase the chances of getting a better personal loan.
How to Change Your Credit History?
Your credit history is dependent on your financial habits. If you’re unable to make payments on time, then it will be harder to bring your score back to good standing. Here are some tips to help you change your credit history.
Concentrate on Performance Factors: Credit use and payment punctuality account for 65% of the credit scoring equation. That's why being an on-time borrower will do wonders for your reputation.
The blow to your credit score (by 30-90 day missed payments) will be rectified if you start sending creditors checks to pay off your debt. Recovering from 90-day late payment will take some time. But this will fade to black if you pay attention and pay your debts on time.
1. Lower Your Balances
You need to aim to have a 35% or less of your credit utilization ratio. Before any loan application process (auto loan, mortgage, etc.), you have to get serious about paying off your debt. In this situation, having usage of 10% or under is ideal. To keep your credit balance low, keep your card use to a minimum, postpone large purchases, and pay down your debt as much as possible.
2. Check for Errors
Don’t assume that a negative entry in your credit score is really your fault. Approximately 80% of credit history reports have errors - and 25% of the time the errors are significant enough to lower your FICO score to drop at around 50 points or more. Make sure to review your records with the three credit reporting agencies (Equifax, TransUnion, Experian)
3. Collection Accounts
Sadly, paying off your debts that have been sent to collections won't increase your score by much. But there is one exception: If the payment reduces your outstanding debt. Negotiate with your credit agency (in writing) to see if they can remove the charge off from your credit history or settle the account as "paid as agreed."
The Terms of the Bad Credit Loans in Louisiana
Loan terms are the characteristics of personal loans with bad credit in Louisiana, LA, which is described in your loan agreement. When borrowing money, you and the lender have to agree to specific things that are the “terms” of your loan.
They will provide you an agreed sum of money, and you can repay it according to an agreed schedule. If something goes wrong with the loan, both of you know the rights and responsibilities and rights listed in the loan agreement.


Healthy Payment: Your loan payment is calculated with the interest rate and loan. However, there are multiple ways to calculate the required payment (for instance, your credit cards are calculated based on a percentage of your current balance).
Make sure you know your monthly rate and discover if it will ever change. You have to make sure that your payment fits well with your budget.
Balloon Payments: Some loans don't get paid off over time; you only play a small portion of the loan balance. Unfortunately, you'll have to make a large balloon payment in the future (or use another loan to refinance the loan).
Payment Penalties: Reducing your interest costs is a great idea. You'll avoid wasting money if you can pay off the debt faster than the required due date especially when it comes to credit cards, it's wise to pay more than the minimum.
After finding out about your bad credit personal loans in la terms, agree to it and pay them off on time. By doing so, you reduce the chances of your credit score decreasing and increasing the chance of obtaining a better loan.
Conclusion
In conclusion, you can receive bad credit loans in Louisiana, LA. First, you have to make sure that your credit score high enough so lenders can view you as a reliable borrower.
However, if your score is low, it's still possible you can receive personal loans with bad credit in Louisiana, LA. Look for lenders that will consider your financial situation and see if they will provide a reasonable offer. It not, then you will have to improve your score (punctual payments, lowering debt, etc.) to ensure that you'll have better lending options.
Be proactive, after getting your loan offer; you have to pay it off on time. This will make it easier for you to reduce your debt and potentially increase your credit score. So, stay on top of your financial habits, set up automatic payments and continue to pay off your loan to help increase your financial reputation.
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