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Georgia Debt Consolidation Services

GA Debt Consolidation:
Bad Credit Applicants

Updated September 30 2018 Home | GA

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Accessing Bad Credit Lenders

GA Fair Credit Consolidation
(credit scores 640 - 680)

1) Credit Union of Atlanta
670 Metropolitan Pkwy SW, Atlanta, GA 30310
www.cuatlanta.org
+1 404-658-6465

2) Georgia's Own Credit Union
675 West Peachtree Street Northwest, Atlanta, GA 30308
www.georgiasown.org
+1 404-874-1166

3) Georgia Guard Credit Union
1030 Shurling Dr, Macon, GA 31211
www.ggcu.org
+1 478-741-4428

4) CGR Credit Union
2040 Ingleside Ave, Macon, GA 31204
www.cgrcu.org
+1 478-745-0494

5) Augusta Metro FCU
2338 Lumpkin Rd, Augusta, GA 30906
www.youramfcu.org
+1 706-796-8226

Law for Georgia Lenders

Text Source - Government Source: Georgia State Statutes

All legal verbiage below for the state of Georgia is not published in it's exact form. We try to keep all legal information as up to date as possbile, but there is no warranty or guarantee (of any sort) implied regarding the absolute accuracy of this Georgia legal information. This information is NOT legal advice. If you believe you need legal advice, consult a Georgia based attorney, and/or contact the Georgia State government's department of finance and banking.

Key Excerpts:

Georgia interest rate laws are stated in Official Code of Georgia, Title 7(Banking and Finance), Chapter 4(Interest and Usury).

Under § 7-4-2 the state legal maximum interest rate is seven percent per annum in the absence of a written contract. Through a written contract the parties are permitted to charge simple interest higher than seven percent. If the amount loaned through writing is $3000 or less the interest rate should not be more than 16 percent. The parties are permitted to charge any rate of interest, if the amount loaned is higher than $3000 and less than $250,000. Under § 7-4-12, interest rates on judgments are determined by Federal Reserve System, and three percent interest is added to the interest rate so determined.

Charging higher interest rates than the state legal maximum interest is usury. Under § 7-4-10 if a rate of interest is charged in violation to § 7-4-2, the person will have to forfeit the interest thus charged. Under § 7-4-18 criminal penalties are also attached to usury. It is a misdemeanor to charge an interest rate of five percent per month or more in a transaction.

§ 7-3-14 has exempted small industrial loans from the state prescribed interest rate. Ten percent per annum is the prescribed interest rate for small industrial loans.

O.C.G.A. § 7-4-2 reads in part:

"§ 7-4-2. Legal rate of interest; maximum rate of interest generally

(a)(1)(A) The legal rate of interest shall be 7 percent per annum simple interest where the rate percent is not established by written contract. Notwithstanding the provisions of other laws to the contrary, except Code § 7-4-18, the parties may establish by written contract any rate of interest, expressed in simple interest terms as of the date of the evidence of the indebtedness, and charges and any manner of repayment, prepayment, or, subject to the provisions of paragraph (1) of sub§ (b) of this Code §, acceleration, where the principal amount involved is more than $3,000.00 but less than $250,000.00 or where the lender or creditor has committed to lend, advance, or forbear with respect to any loan, advance, or forbearance to enforce the collection of more than $3,000.00 but less than $250,000.00. (B) Where the principal amount is $250,000.00 or more, or the lender or creditor has committed to lend, advance, or forbear with respect to any loan, advance, or forbearance to enforce the collection of $250,000.00 or more, the parties may establish by written contract any rate of interest, expressed in simple interest terms or otherwise, and charges to be paid by the borrower or debtor. (C) Nothing contained in this sub§ shall be construed to prohibit the computation and collection of interest at a variable rate or on a negative amortization basis or on an equity participation basis or on an appreciation basis.”

O.C.G.A. § 7-4-10 reads in part:

"§ 7-4-10. Usury forfeits entire interest; right of setoff; how forfeiture discharged; when time bars action or defense (a) Any person, company, or corporation violating the provisions of Code § 7-4-2 shall forfeit the entire interest so charged or taken or contracted to be reserved, charged, or taken. No further penalty or forfeiture shall be occasioned, suffered, or allowed.”

O.C.G.A. § 7-3-14 reads in part:"§ 7-3-14. Maximum loan amount, period, and charges

Every licensee under this chapter may loan any sum of money not exceeding $3,000.00 for a period of 36 months and 15 days or less and may charge, contract for, collect, and receive interest and fees and may require the fulfillment of conditions on such loans as provided in this Code §: (1) Interest. A licensee may charge, contract for, receive, and collect interest at a rate not to exceed 10 percent per annum of the face amount of the contract, whether repayable in one single payment or repayable in monthly or other periodic installments. On loan contracts repayable in 18 months or less, the interest may be discounted in advance; and, on contracts repayable over a greater period, the interest shall be added to the principal amount of the loan. On all contracts, interest or discount shall be computed proportionately on equal calendar months;”

GA Good Credit Consolidation
(credit scores > 640)

6) Health Center Credit Union
1424 Walton Way, Augusta, GA 30901
www.hccu.coop
+1 706-434-1600

7) Robins Financial Credit Union
2636 Atlanta Hwy, Athens, GA 30606
www.robinsfcu.org
+1 800-241-2405

8) Peach State Federal Credit Union
1260 Mars Hill Rd #127, Watkinsville, GA 30677
www.peachstatefcu.org
+1 678-889-4328

9) Savannah Schools FCU
401 Mall Blvd #102F, Savannah, GA 31406
www.ssfcuonline.org
+1 912-355-9099

10) Savannah Federal Credit Union
100 W Oglethorpe Ave, Savannah, GA 31401
www.savannahfederal.org
+1 912-234-8978

11) Colony Bank
5987 Ogeechee Rd, Savannah, GA 31419
www.colonybank.com
+1 912-927-1277

12) Federal Home Loan Bank of Atlanta
1475 W Peachtree St NE, Atlanta, GA 30309
corp.fhlbatl.com
+1 800-536-9650

13) Queensborough National Bank and Trust
4226 Columbia Rd, Augusta, GA 30907
www.qnbtrust.com
+1 706-863-2000

14) Pinnacle Bank
3140 Lexington Rd, Athens, GA 30605
www.pinnaclebank.com
+1 706-425-2223

15) Southern States Bank
5604 Whittlesey Blvd, Columbus, GA 31909
southernstatesbank.net
+1 706-494-0016

GA Debt Settlement/Relief Services

A American Debt Settlement
Statesboro, GA 30458
+1 912-764-6047

A American Debt Consolidation
Riverdale, GA 30274
+1 770-991-5379

Cherney Law Debt Settlement
1744 Roswell Rd, Marietta, GA 30062
www.cherneylaw.com
+1 770-485-4141

Dolhancyk Debt Settlement Law
2011 Commerce Dr, Peachtree City, GA 30269
georgiabankruptcy.expert
+1 678-619-1728

Jeff Field & Associates Debt Settlement
2470 Windy Hill Rd SE #319A, Marietta, GA 30067
www.fieldlawoffice.com
+1 404-499-2480

Cornwell Law Firm
2180 Satellite Blvd #400, Duluth, GA 30097
www.cornwellbankruptcy.com
+1 404-791-4449

Georgia Debt Counselor Services

Columbus Debt Counseling
1350 15th Ave, Columbus, GA 31901
www.cccs-wga.com
+1 706-327-3239

Atlanta Debt Counseling
140 Carnegie Way NW, Atlanta, GA 30303
www.credability.org
+1 404-527-7630

Savannah Debt Counseling
7505 Waters Ave suite c-11, Savannah, GA 31406
www.cccssavannah.org
+1 912-691-2227

Fix My Credit
3121 Peach Orchard Rd, Augusta, GA 30906
+1 706-237-8681

Map of GA Consolidation Providers
(tap for interactive)

Georgia Debt Consolidation Loan Providers Map

Georgia Bankruptcy Services

The Kent Law Firm
3355 Lenox Rd NE #600, Atlanta, GA 30326
www.thekentlawfirm.com
+1 404-504-7090

Augusta Bankruptcy Attorney
493 Furys Ferry Rd, Augusta, GA 30907
augusta-bankruptcyattorney.com
+1 706-869-1334

Gingold & Gingold LLC
1718 Peachtree St NW #385, Atlanta, GA 30309
www.gingoldbankruptcylaw.com
+1 404-685-8800

Wayne Gilleland, Attorney at Law
577 Mulberry St, Macon, GA 31201
www.maconbankruptcylaw.com
+1 478-742-3000

Georgia Financial Advisors

Fountain Financial Advisors - Financial Consultants Group, Inc.
407 East Maple Street #303, Cumming, GA 30040
foryourfuture.net
+1 770-627-2121

Anthony Smith Advisors
2999 Piedmont Rd NE, Atlanta, GA 30305
www.anthonysmithadvisors.com
+1 404-231-1414

Stewardship Financial Advisors
345 Corporate Center Ct, Stockbridge, GA 30281
stewardshipfinancialadv.com
+1 770-507-0025

TandemGrowth Financial Advisors
3820 Mansell Rd, Alpharetta, GA 30022
www.tandemgrowth.com
+1 770-641-6360

Lodging a Complaint in Georgia?

GA Dept. of Banking and Finance - Address @ 2990 Brandywine Rd, Ste. 200, Atlanta, GA 30341 - Call: 770-986-1633 - Hours 8am 4:30pm - Mon through Fri - GA Dept. of Banking and Finance - GA Complaints and/or legal assistance or call 855-411-2372



Georgia State Capital Atlanta: Larger Image & Credit

Oprah's Consolidation Loan:
in Atlanta GA

For informational purposes only. See disclaimer.

Oprah on Atlanta Georgia was looking for a solution to her money problems, and she wanted it done fast!

She had over $10000 in debt that she wanted cleared off and she wanted to have only one payment each month.

She was suffering because of her debt, and in Oprah's case she mentioned her issues. She admitted she was at fault and that she could have avoided all of her money problems.

Even though she was sincere about her actions and spending habits, we have to mention that she was being rather hard on herself. Ten thousand is not a lot of debt in the long term.

All of her debt was credit card debt which is more than typical. The average APR on her cards was 25% at the time of her loan application.

The compounding interest on her balances was starting to really creep up on her and it was scaring her. She was really stressed out because of it.

She wants to pay off all the credit card companies ASAP. These are the cards she had balances on:

Visa Card #1 = $2000
Visa Card #2 = $1000
Mastercard #1 = $4500
Mastercard #2 = $4500

We rounded of Oprah's credit card balances for this publication just so you can get an idea of what she was dealing with. If you're reading this you likely have a similar problem with debt.

You can apply for a debt consolidation loan using the application form on this page. When you apply using the WFL lender pool your credit rating won't be further damaged. Your application will be seen by hundreds of lenders, some of which will approved loans to people with bad credit ratings.

Oprah used the WFL system and was approved in three business days.

Do you live in the great state of Georgia and need a debt consolidation loan? I hope our website can help you in some way to find a decent interest rate even if you have a bad credit score.


Georgia City Directory

Atlanta GAAugusta GA

Columbus GASavannah GA

Athens GA ¶ Sandy Springs GA

Macon GA ¶ Roswell GA

Albany GA ¶ Johns Creek GA

Warner Robins GA ¶ Alpharetta GA

Marietta GA ¶ Valdosta GA

Smyrna GA ¶ Dunwoody GA

Rome GA ¶ Peachtree GA

Gainesville GA ¶ East Point GA

Dan's Consolidation Loan:
In Augusta GA

For informational purposes only. See disclaimer.

Dan and his wife have lived in their Augusta Georgia home for over 25 years and it is becoming somewhat dated. They have never upgraded the bathrooms or the kitchen.

They have not replaced the carpets. Now that the kids have moved out of the home they want to upgrade their home and remove that tired look that it has acquired over the past years of raising a family. They're also planning to repaint and do a little landscaping if their budget permits.

They feel that they can do all of this work for around $50000 which will cover materials as well as some of the work that will be completed by trades people.

Dan plans to complete much of the work himself with the exception of the plumbing, electrical, cabinetry and tiling. These areas he will leave to the experts.

They are in the process of obtaining estimates for all of the work and materials and will know in a few days just how much their plans are going to cost.

Their home is fully paid for and Dan plans to retire in a few years. He does not like the idea of carrying a mortgage into retirement, however they want to be able to enjoy their updated home for several years prior to selling it.

They feel that these upgrades will also improve the sales value of their home and they will be able to recover much of what they put into it.

A $50000 consolidation loan with a twenty five-year term and 4.5% interest rate for Dan would cost him the following per month:

• Loan Amount (principal) = $50000
• Interest Rate = 4.5%
• Term Length = 25 year
• Monthly Payment = $277.92
• Total Paid Back = $83374.87
• Total Interest = $33374.87

Upon review, the lender felt that a line of credit would best fit Dan’s needs and would allow him to consolidate all of this renovation debt into one loan as it was needed.

He was approved for the full $50000 he applied for based on his credit score and the equity in his home. The line of credit was secured by his home which ensured that he would qualify for a low interest rate as well.

Dan can draw on this credit line as needed. His renovation project is going to take a few months to complete. He will only need to actually borrow funds as he spends the money and pay interest accordingly.

He can also repay his debt as quickly as he would like, however he must pay the interest costs each month as a minimum payment.

This approach gave Dan a great deal of flexibility. Once his renovation work is completed and he has repaid some or all of his line of credit, the unused line of credit can be used for other purposes up to the approved limit of $50000.

Many customers find that they need funds to help deal with emergencies such as a new furnace, window replacement or a new roof and the line of credit provides a great deal of flexibility in dealing with these sudden cash requirements.

Do you live in the great state of Georgia and need a debt consolidation loan? I hope our website can help you in some way to find a decent interest rate even if you have a bad credit score.

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