Missouri Personal Loan for Bad Credit Laws and Regulations in (MO)

(last updated 01/13/2016)
A loan contract may provide for repayment in consecutive monthly installments, but the first installment may be payable at any time within forty-five days from the date of the loan and no installment shall be substantially greater than any other installment. Interest for any fractional portion of a month may be computed for each elapsed day at one-thirtieth of the monthly rate contracted for.

Amount of Loan. Consumer installment lenders are permitted to make loans of any amount, whether or not secured, and all loans made by such lenders must be payable in no fewer than four (4) substantially equal installments which must run for a minimum of one hundred twenty (120) days.

Interest—Loan Origination Fee—When Earned. Consumer installment loans shall bear daily interest to be determined by applying the contract rate of interest to the principal balance and dividing that result by the number of days in the year. Loans may not have an amount of interest added to the principal of the loan or be subject to the “Rule of 78s” or “Sum of the Digits” method of refunding. The loan origination fee is earned at the time the loan is made.

Fees. A consumer installment lender shall not charge, contract for or receive, either directly or indirectly, any fee not expressly permitted by section 408.140.1, RSMo.
 
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Missouri, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the Missouri Division of Finance.
 
The following classes of lending organizations may be exempt from some, all, or none of the the regulations set by the state of Missouri. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua


Missouri Personal Loan for Bad Credit Lending Regulator (MO)

Regulating Authority
Missouri Division of Finance
716 301 W. High Street
Room 630
Jefferson City, MO 65102
(573)751-3242
finance.mo.gov

Agency for Handling Complaints
Missouri Division of Finance
P.O. Box 716
Jefferson City , MO 65102
(573)751-3242
finance.mo.gov/consumers/

 

Missouri Loan Request Form

Preferred Amount
Preferred Term
Preferred Rate
Based on your entries above...
Amount
Financed
 

Total of
Payments
 
Loan
Term
 

Finance
Charges
 
Monthly Payment
 

 
APR
 

Related Missouri Loan Programs

Personal Loans in MO
$1,000 to $35,000 - Credit Score 650+
 
Small Business Loans in MO
For Bad to Excellent Credit. Flexible Terms.

Flag of the State of Missouri When expenses roll in like a storm across the heartland, having bad credit can keep you from getting a personal loan to shelter you from the storm. When it looks like you’re about to get drenched, who can you turn to?

It’s almost 5, and you’ve just come in from working out in the yard. You saw dark clouds out to the west, so you flip on the TV to listen to the weather while you fix yourself a bite to eat. The news comes on and sure enough, one of the first things they mention is a severe storm warning that covers your county.

Oh the joys of living in Missouri in the spring, summer, and fall. You wander back outside and put away your lawn tools and lock up your bike. Sure enough, an hour later you hear the familiar rumble of thunder. The Emergency Broadcast System comes on and you hear that weird robotic voice on your TV, telling you that tornado watches and warnings are being issued. Your county is under a warning.

The storm moves in overhead. Lightning flashes, thunder crashes, and then rain and hail pouring down over your home as the wind howls outside. Your lights flicker, threatening to leave you in the dark. Just as swiftly as it moved in, it moves on. The drumming of the hail and rain stops, the thunder moves off into the distance, and the maliciously dark sky lightens up. A gentle rain continues to fall as you make your way to the windows and check out your yard.

All is well outside, it seems. There’s some sort of riding toy, likely from the little girl up the road, in your yard, but no big limbs or fallen trees this time. Then you go to your bedroom and step in a puddle. What? Oh no, there’s a drip coming from the ceiling.

Sure enough, you lost some shingles from the roof and now you have a leak. Your insurance will pay for the repairs, but you have a $1,500 deductible. How will you come up with the money to get this fixed? Especially with your bad credit?

When life rains on your parade, let We Give Loans help you find an umbrella. A personal loan can be just the thing to keep you from being drenched by your finances when the expenses of everyday life come raining down. But when you have blemishes on your credit, it may be hard to find the relief you need.

Our network offers access to more than 9,914 loan sources that issue personal loans for people with bad credit. With one short, secure form, We Give Loans can pair you with the right loan source for your situation. With loans available from $500 to $3,000, even with bad credit you may qualify for an installment loan that allows repayment over 3 to 36 months.

We Give Loans has helped over two million people take shelter from the financial storms in their lives since we started in 2006. Complete our form now, with no cost or obligation, and see how quickly our consumer-to-lender pairing process can help you find the right personal loan for you. Call the roofer and get on the schedule. With the right loan, you can be snug and secure again in no time.


 

Missouri Personal Loans for Bad Credit (MO) by City

Missouri Financial Counseling Information

If you feel that you may benefit from the services of a financial counselor, The Consumer Credit Counseling Service of the Midwest, Inc can be located at 724 N. Belt Highway St. Joseph , MO 64506 or by calling 800-355-2227 services are not specified.