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Debt Consolidation Loan With Low APR In Cumberland County, Maine

$108000 Debt Consolidation Loan – Portland Maine, Credit Score Of 615

  • Experian: 629 – This client had a good Experian score
  • Transunion: 600 – Claude had a good credit rating with Transunion.
  • Equifax: Claude’s Experian score was 615, which is a good credit score with the Experian scale.

6 Months in the Past, Claude Attempted to Find a High Risk Loan for $43,000.00, but They Didn’t Find What They were Expecting

There is an well known struggle for borrowers to find high risk loans in a safe way. Many high risk loans end up coming from loan sharks or similar lenders, which can be physically harmful to borrowers like Claude. Claude chose not to get a high risk loan this time. High Risk loans are generally given by lenders to terrible credit individuals. Individuals with credit ratings as low as 503 can apply for a high risk loan and possibly can be accepted.

Debt Consolidation Can Assist Any Highly Indebted Borrower to Escape Bad Debts like Credit Card Debt

Average debt consolidation loans range from $35,000.00 to $48,000.00. They are typically used to pay off existing high interest loans like credit cards. Claude required a debt consolidation loan to pay for their existing debt consolidation loan and their credit card. Claude was able to find a debt consolidation loan in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which changes your bad, high interest loans to a single lower interest loan. Debt consolidation loans usually have interest rates that are low, like 4.6%.

Previous requests on Claude’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$126610.00 10 9.7% $1652.2 Fleet Bank of Maine January 23, 2011
$127240.00 8 10.6% $1971.39 Union Trust Company April 25, 2012
$127240.00 10 8.2% $1557.25 Northeast Bank of Sanford June 10, 2012
$127290.00 6 7.8% $2219.4 Bank of Maine, N. A. July 30, 2012
$127100.00 4 5.4% $2950.11 Merchants National Bank of Bangor August 2, 2013

Before applying for this debt consolidation loan, Claude had an Experian score of 629, which is good, so First Maine Bank probably cannot provide Claude a debt consolidation loan

Experian Score: 629

Contact Details for First Maine Bank, the provider of this debt consolidation loan

  • First Maine Bank
  • City: Portland
  • State: Maine
  • Address: 489 Congress Street
  • County: Cumberland
  • Zip code: 4101

Claude’s Overall FICO score at the time of acceptance for a debt consolidation loan, taking into account their order clerk job and their future job as an agricultural crop farm manager

Fico Score: 615

Claude has a disappointing current yearly income, but has several of prospects

Claude has always wanted to be an agricultural crop farm manager, but would have to attend Emory University again to become one. Claude has other prospects as well, including travel agent, aircraft body and bonded structure repairer, and non-retail sales supervisor, which pay $50,000 through to $102,000 per year, on average. Because of this, we think that Claude can afford this debt consolidation loan of $108000.

Client Profile: Claude Maywood of Portland, Maine
  • Full name (Changed if requested): Claude Maywood
  • Current Credit: loans.hit.utils.Fico@2dda6444
  • Current City: Portland
  • State: Maine
  • Zip code: 4106
  • Yearly income: $63,000
  • Current Job: order clerk
  • Current County: Cumberland
  • Goal Yearly Income: $146,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $9000

Paraphrased and Standardized Quote from Claude for this debt consolidation loan of $108000, provided by First Maine Bank

Hi, I am Claude and my hometown is Portland in Maine. Cumberland, county is where I grew up, and now I need a debt consolidation loan in Maine for $108000 to buy a big ticket item. It wasn’t easy, but First Maine Bank really came through for me with this loan for 9.2% interest APR and a term of 16 years. I can repay the loan over the 16 year term, including interest. A big thanks to First Maine Bank for giving me a chance and my good credit. It look me 4 years to build my credit to 615, and I won’t tarnish it any future. I am happy with Find Texas Loans for helping me this far.

Claude was rejected by The Camden National Bank 6 times prior to being approved by First Maine Bank at 489 Congress Street

On March 17, 2012, Claude applied about borrowing $19,000 from Eastport Savings Bank with Suanne, their in law from just outside Portland, and even with the co-signer, Claude was rejected for this debt consolidation loan. With good credit, it can be challenging to procure financing, even with collateral and a co-signer.

Installment loan for Claude, a graduate of Emory University and an order clerk working for over $66,000 per year

Claude, an alumnus at Emory University and an order clerk in Portland, Maine needs a debt consolidation loan to purchase a house. Claude has instead decided to obtain an installment loan for $20,000 and is currently seeking lenders like The First National Bank of Houlton to process their request.

Personal Loan for an order clerk named Claude in Portland, Maine to Pay Off The Kardashian Prepaid MasterCard

Claude had a tonne of credit card debt on their MLB BankAmericard Cash Rewards MasterCard and their BMW Card, and they were starting to get in over their heads. Despite Claude’s job as an order clerk, they struggled to make payments on the $29,000.00 credit card balance, badly needing assistance in the form of a personal loan.

When Claude was 21, they attempted to obtain a student loan from 4 different lenders, which damaged their credit rating. Below is a list of Claude’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $33,000.00 on June 27, 2013
  • Attempt 2) Loan for $29,000.00 on May 9, 2014
  • Attempt 3) Loan for $37,000.00 on June 30, 2009
  • Attempt 4) Loan for $32,000.00 on August 17, 2012

Signature Loan acquired in Portland, Maine for $108000 with good credit by Claude

Many prospective borrowers have difficulty with finding signature loans in Portland, Maine, and Claude is not an exception. Claude went to 8 lenders or more before finding First Maine Bank, who offered Claude a signature loan for $108000. Most signature loans simply require a client, like Claude’s signature to get them, up to $43,000 in some cases. Claude was able to get $108000 as a debt consolidation loan, which is very high for a debt consolidation loan. Since signature loans do not need a cosigner, they generally require improved credit, as high as 702

Multiple previous requests for credit have been made by Claude in the past, including one from Rosedale Federal Savings and Loan Association in Portland, Maine before Claude was approved for the $108000 by First Maine Bank

Claude made 4 prior attempts to obtain a debt consolidation loan, 2 of which were with Rosedale Federal Savings and Loan Association, a lender in Portland, Maine known to specialize in debt consolidation loans specifically. Prior to finding First Maine Bank, Claude was desperate due to their inexperience and good credit score.

Claude’s Transunion score was altered by the debt consolidation loan loan, changing to 600 from 615, which is typical in our experience.

Transunion Score: 600

Fast Loans for Claude in Portland, Maine to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Portland, Maine aren’t actually that difficult to obtain, especially if you have some finesse like Claude. Claude was able to find a fast loan for $108000 from Key Bank of Northern Maine and Springvale National Bank, but declined both offers in favor of their debt consolidation loan from First Maine Bank. The improvement with a fast loan over a installment loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 7 weeks for personal loans. A big difference if a client is in a time sensitive situation.

Conclusion of Claude’s debt consolidation loan

In the end, Claude was able to find a debt consolidation loan for $108000 with an interest rate of 5.3% interest APR from First Maine Bank in Portland, Maine repayable over 16 years from now.

Will Alexander

Will Alexander has over 10 years of experience as a financial expert and writer. The goal of his work is to assist the people of Texas in finding loans for lower interest rates than they thought were possible. Will specializes in bad credit loans.

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