Helping people to find bad credit personal loans is something that we take pride in doing. A recent bad credit applicant took this to the next level by combining something we love just as much as helping people – football. This applicant played football professionally in an indoor league, but had recently run into financial hardship due to poor planning. By missing several payments on his car, apartment, and credit card this man’s credit rating has been demoted well below the 550 mark. With a credit rating like this, it can be extremely difficult to be considered for loans by most banks. Additionally, with the small amount of income provided from his job as a not-quite professional football player, it can be even harder to convince banks to lend to you. He now needs a loan to finish paying off his debts to prevent eviction from his apartment.
This applicant’s recent fall into bad credit was spurred on, ironically by the good performance on his team. With high hopes of being scouted and promoted into the NFL where salaries are much higher, this applicant had begun spending more than he could afford. This went on to such an extent that he had spent his entire month’s earnings out of sheer excitement. This left him with absolutely no additional money with which to pay his bills, and he defaulted on every single one of his financial obligations. The next month he attempted to repay his bills from the previous month, however there simply wasn’t enough to go around.
With debt piling up, this applicant has missed payments for 3 consecutive months, and one more month spells eviction. For him, it was fortunate that none of his loans were secured against assets as four months time can be long enough to force banks to repossess your assets. If this were a reality for him, debt consolidation may have been the only way to save his property. If the banks did come after his assets, they may have been inclined to forgive his missed payments for the same reason that Chase bank was willing to provide him a loan. This $5,000 will be enough to keep him in his home and pay off his credit card debt which is proving to be a drain on his monthly income.
For this applicant, it is fortunate that in Texas we are big football fans. This includes the people signing the loan agreements in banks. For this applicant, that meant being accepted for a loan bad credit loan with an interest rate better than many good credit loans. The principle of this bad credit loan was $5,000 with an interest rate of just 6.5% per annum. With a rate like that it is hard to even call this a bad credit loan at all, but rather a loan based on a different sort of credit, the kind you can only get by being an athlete playing the best sport in the world.
Standard Find Texas Loan’s Borrower Information :
Loan Amount : $5,000
Type of Loan : Bad credit personal loan
Loan Processing Speed (Time frame when money is needed) : As soon as possible. Yesterday would be ideal
Bank Name and Branch : Chase Bank on McKinney Ave in Dallas, TX
Where do you live (City/Town, State) : Dallas, TX
Zip : 75204
What is your field of employment? : Athletics
Employment Position : Running back
How often are you paid? : Biweekly
What is your credit like (Good, fair, bad)? : Pretty bad… like 550
How did you find us? : Through the internet, of course
Are you paid in direct deposit or paper check? : Paper check
Gross Amount Per Paycheck : $2,200 during the season, I work another job during the off season
Do you agree to have this information published online? : Sure, why not
Extra information : I am the running back for the local indoor football team in the Dallas area… I’ll leave you to guess which one. A few months back the NFL scouts were all over me, making promises to put me on major teams. This all went away completely out of the blue… I think they chose to draft someone else. Either way, I started living large rather than sticking to what I could afford on my small salary. I suppose I’m paying for that now, but I really need this money to stop my landlord from throwing me out.
Note to Lender : I’m glad to see that our team has so many fans in the Dallas area and even more glad that you were willing to help me out. A deal like this is something I never expected, thanks so much Chase.