Updated September 18 2019 Home | TX
1) Credit Union of Dallas Texas
8131 Lyndon B Johnson Fwy #107, Dallas, TX 75251
2) Dallas Neighborhood Credit Union
13651 Montfort Dr, Dallas, TX 75240
3) Lone Star Credit Union
7508 Ferguson Rd, Dallas, TX 75228
4) Austin Velocity Credit Union
610 E 11th St, Austin, TX 78701
5) Austin A+ Credit Union
6420 E US 290 SVRD, Austin, TX 78723
All legal verbiage below for the state of Texas 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 Texas legal information. This information is NOT legal advice. If you believe you need legal advice, consult a Texas based attorney, and/or contact the Texas State government's department of finance and banking.
Excerpts: As per section 302.002, the state legal maximum interest rate is six percent
per annum. As per section 304.002, interest rate on money judgment is 18
percent per annum. If the judgment is based on a contract fixing another
rate of interest, the interest will be equal to the lesser rate specified
in the transaction. Charging higher rate of interest than the permitted state legal maximum
interest rate is usury. Under Section 305.008, usury is a misdemeanor punishable
with fine up to $1000. Under Section 305.001, a lender charging usurious
interest will be liable to pay the borrower greater of three times the amount
computed subtracting the amount of interest allowed by law from the total
amount of interest contracted for, charged, or received, or $2000 or 20
percent of the amount of principal, whichever is less. Under Section 305.005,
a lender who is liable for usury is also liable to pay reasonable attorney
fees to the debtor. “§ 302.002. Accrual of Interest When no Rate Specified. If a creditor has
not agreed with an obligor to charge the obligor any interest, the creditor
may charge and receive from the obligor legal interest at the rate of six
percent a year on the principal amount of the credit extended beginning
on the 30th day after the date on which the amount is due.”
As per section 302.002, the state legal maximum interest rate is six percent per annum. As per section 304.002, interest rate on money judgment is 18 percent per annum. If the judgment is based on a contract fixing another rate of interest, the interest will be equal to the lesser rate specified in the transaction.
Charging higher rate of interest than the permitted state legal maximum interest rate is usury. Under Section 305.008, usury is a misdemeanor punishable with fine up to $1000. Under Section 305.001, a lender charging usurious interest will be liable to pay the borrower greater of three times the amount computed subtracting the amount of interest allowed by law from the total amount of interest contracted for, charged, or received, or $2000 or 20 percent of the amount of principal, whichever is less. Under Section 305.005, a lender who is liable for usury is also liable to pay reasonable attorney fees to the debtor.
“§ 302.002. Accrual of Interest When no Rate Specified. If a creditor has not agreed with an obligor to charge the obligor any interest, the creditor may charge and receive from the obligor legal interest at the rate of six percent a year on the principal amount of the credit extended beginning on the 30th day after the date on which the amount is due.”
6) Houston Federal Credit Union
3701 Kirby Dr #120, Houston, TX 77098
7) Houston Smart Financial CU
2510 N Loop W, Houston, TX 77092
8) Lubbock Telco FCU
2802 York Ave # D, Lubbock, TX 79407
9) San Antonio Firstmark CU
7200 Culebra Rd, San Antonio, TX 78251
10) Amarillo Community FCU
6030 S Western St, Amarillo, TX 79110
11) Odessa Employees Credit Union
1006 E 7th St, Odessa, TX 79761
12) First Abilene Federal CU
1118 Pine St, Abilene, TX 79601
13) Corpus Christi SP CU
1120 N Tancahua St, Corpus Christi, TX 78401
14) Laredo Fire Department FCU
5002 Tesoro Plaza, Laredo, TX 78041
15) Fort Worth City CU
2309 Montgomery St, Fort Worth, TX 76107
3817 Latimer St, Dallas, TX 75215
9420 Research Blvd, Austin, TX 78759
Antonio Debt Consolidation
5504 Bandera Rd Suite 704, San Antonio, TX 78238
8300 Farm to Market 1960 Rd W Ste 450, Houston, TX 77070
1717 McKinney Ave #700, Dallas, TX 75202
8737 King George Dr #200, Dallas, TX 75235
Restoration of Texas
4203 Gardendale c101, San Antonio, TX 78229
Best Credit Repair
9300 S IH 35 Frontage Rd, Austin, TX 78748
E. Hood Law
6440 N Central Expy #605, Dallas, TX 75206
4833 Spicewood Springs Rd #200, Austin, TX 78759
McLeod Law Office
3355 Cherry Ridge Suite 214, San Antonio, TX 78230
6100 Corporate Dr #190, Houston, TX 77036
9330 Lyndon B Johnson Fwy, Dallas, TX 75243
National Financial Services
4810 Spicewood Springs Rd #100, Austin, TX 78759
14603 Huebner Rd Building 23, San Antonio, TX 78230
5555 W Loop S #500, Bellaire, TX 77401
Make a complaint with the Texas Department of Banking. Attorney General of Texas Consumer Protection Division / P. O. Box 12548 / Austin, Texas 78711 / Toll Free: (800) 621-0508 / Or use their online form here.
Texas State Capitol: Larger Image & Credit
For informational purposes only. See disclaimer.
Irene is planning a major upgrade to her home both inside and out. She needs a fifty thousand consolidation loan to help pay for all of the renovations, landscaping and upgrades. She plans to retire soon and wants to get all of this work completed while she is still working and has the income to help pay for all of this work.
She plans to repave the driveway, update the shrubbery and install new walkways around to the back of the house. In the backyard she is planning a new patio and new lawn furniture. There will be a few new shrubs and trees, but these will be minor compared to the front yard. The real effort is taking place inside. New flooring, updated bathrooms and an updated kitchen with new appliances are in the plan.
A new sink, a new backsplash and a new counter top. The cupboards are in relatively good shape, although she plans to refinish all of the doors on the kitchen cupboards. She could have replaced them, but that would have cost a lot more money. Her husband is going to do some of the work, but the flooring etc. will be completed by contractors.
She also wants the entire house repainted and new windows installed. This would be a much more expensive project if her husband did not plan to pitch in and do a great deal of the work. They have requested an eight year term which will coincide with their retirement date. Irene and her husband plan ahead and barring any unforeseen emergencies will have a nice home to retire in without needing many changes, repairs or upgrades.
A $50000 loan with an eight year term and 5.7% interest rate for Irene would cost her the following per month:
• Loan Amount (principal) = $50000
• Interest Rate = 5.7%
• Term Length = 8 year
• Monthly Payment = $649.79
• Total Paid Back = $62380.04
• Total Interest = $12380.04
Since Irene and her husband will not need all of the money immediately they might consider a line of credit. They would be able to use the line of credit to consolidate all of their debt into one loan and also pay for material and labor as the expenses come in from suppliers and contractors.
This approach would be more efficient for them in terms of interest costs as well as from a personal perspective. With the equity they have in their home, they can easily register the line of credit against their home to enjoy a lower interest rate based on a secured consolidation loan.
They can pay it off as quickly as they can afford. Most lines of credit require a minimum payment of the accrued interest each month. Irene and her husband will also likely qualify for grants from his local state agencies for some of the upgrades they are planning. E.g. the window replacement.
These grants change all of the time so it is important to check often to determine what if anything is available. A grant could lower the amount they need to borrow. Do you live in Texas 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.
Fort Worth TX ¶ El Paso TX
Arlington TX ¶ Laredo TX
Corpus Christi TX ¶ Plano TX
Lubbock TX ¶ Garland TX
Irving TX ¶ Amarillo TX
Brownsville TX ¶ Mckinney TX
Grand Prarie TX ¶ Frisco TX
Pasadena TX ¶ Mesquite TX
For informational purposes only. See disclaimer.
Andrew had a compulsive issue. He's a obsessive collector of sports team memorabilia. He collects equipment and cards. He has bats, sticks, skates, balls, etc. All good if you have a lot of disposable income, but Andrew wasn't in that kind of financial situation.
He was in the same boat as so many Americans in that he lives from paycheck to paycheck. He's always in debt to somebody that usually means credit card companies.
See below in this list of Andrew's credit card balances:
$5000 American Express #1
$4000 American Express #2
$3000 Mastercard #1
$3000 Mastercard #2
$5000 Discover card #1
$2000 Discover card #2
$3000 Exxon card
Most all of these credit card balances were caused by his passion for collecting. His wife finally snapped on him and that is why he finally started turning things around.
She even threatened to leave him if he didn't clean up his act, flight right, and stop spending money on baseball cards. She insisted he go seek counseling too.
Andrew wasn't at all happy about it, but he capitulated and made his first appointment. After a few weeks of treatment for obsessive compulsive disorder, he decided to start selling off his collection on eBay.
He also vowed to get his spending under strict control. He got rid of all his credit cards except for two (Amex and Visa card). He made an appointment with the bank to get a personal loan using home equity. The was there just pay off all of his high interest credit card balances.
• Debt Consolidation Amount = $25000
• Interest Rate = 11.11%
• Term Length = 5
• Monthly Payment = $544.93
• Total Paid Back = $32,695.98
• Total Interest = $7,695.98
When you look at the math above you can see why some people like to say "debt sucks". But in the grand scheme of things it's not really that bad even though his credit score was bad at the time of approval.
In this case Andrew chose not to share anything in regards to his final APR and approval terms with his lender. He didn't want to publish the different offers he had, but he did allow us to mention he had 3 different offers.
Ironically, sometimes the people with really bad credit scores get the most offers. And it's because if the borrower ends up having some form of solid collateral, the lender stands to make a huge profit with no risk. Thems the weird breaks in the consumer lending arena.
Ask and of the major banks higher-ups and they'll tell you the same thing. They make they're wildest profits when they do business in the sub-prime market.
Of course this example is for a personal loan and not a mortgage, the same thing applies.
So be careful out there kids. Don't let your obsessions take you to the poor house, and whatever you do, don't let your obsessions ruin your credit rating.
Do you live in Austin TX 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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