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Secured Loan With Reasonable APR In Ray County, Missouri

$42000 Secured Loan – Richmond Missouri, Credit Rating Of 824

  • Experian: 843 – The client had an excellent Experian score
  • Transunion: 810 – Roslyn had an excellent credit rating with Transunion.
  • Equifax: Roslyn’s Experian score was 824, which is an excellent credit rating using the Experian system.

When Roslyn was 22, they attempted to obtain a student loan from 4 different lenders, which harmed their credit score. Below is a list of Roslyn’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $22,000.00 on May 13, 2011
  • Attempt 2) Loan for $28,000.00 on November 8, 2013
  • Attempt 3) Loan for $20,000.00 on August 26, 2012
  • Attempt 4) Loan for $39,000.00 on December 26, 2010

8 Months in the Past, Roslyn Tried Finding a High Risk Loan for $32,000.00, and it was Hard

There is an existing struggle for borrowers to find high risk loans in a non-harmful manner. a lot of high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Roslyn. Roslyn chose not to obtain a high risk loan this time. High Risk loans are given to very low credit individuals. Borrowers with credit scores as low as 449 can inquire for a high risk loan and have a chance to be approved.

Fast Loans for Roslyn in Richmond, Missouri to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Richmond, Missouri aren’t actually that difficult to obtain, especially if you have some finesse like Roslyn. Roslyn was able to find a fast loan for $42000 from Boatmen’s Bank of Southwest Missouri and Commerce Bank of Richmond Heights, but turned down both offers in favor of their secured loan from Mercantile Bank of Missouri Valley. The improvement with a fast loan over a personal loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 5 weeks for installment loans. A big improvement in the case that a client is on the go.

Previous requests on Roslyn’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$96240.00 6 10.1% $1787.78 Camden County Bank June 20, 2010
$96190.00 4 7.8% $2339.26 Glasgow Savings Bank November 27, 2012
$96420.00 3 7.2% $2985.99 Central Bank February 22, 2013
$95670.00 6 7.3% $1644.9 Midwest BankCentre June 29, 2013
$96400.00 8 8.3% $1377.52 Commerce Bank of Richmond Heights August 25, 2014

Installment loan for Roslyn, a graduate of Southern West Virginia Community and Technical College and a copy writer working for over $65,000 per year

Roslyn, an alumnus at Southern West Virginia Community and Technical College and a copy writer in Richmond, Missouri needs a secured loan to purchase a new cell phone. Roslyn has instead chosen to get an installment loan for $2,000 and is at present seeking lenders like Southern Commercial Bank to provide it.

Paraphrased and Standardized Quote from Roslyn for this secured loan of $42000, provided by Mercantile Bank of Missouri Valley

Hello, I am Roslyn and my hometown is Richmond in Missouri. Ray, county is where I grew up, and now I need a secured loan in Missouri for $42000 to pay bills. It has been difficult, but Mercantile Bank of Missouri Valley really came through for me with this loan for 8.1% interest APR and a term of 6 years. I will repay the loan over the 6 year term, including interest. A big thanks to Mercantile Bank of Missouri Valley for giving me a chance and my excellent credit. It look me 5 years to create my credit to 824, and I won’t harm it any more. I’m happy with Find Texas Loans for helping me this far.

Personal Loan for a copy writer named Roslyn in Richmond, Missouri to Pay Off PNC Bank Cash Rewards Visa Signature Business Card

Roslyn had a lot of credit card debt on their Pacific Sunwear PacSun Credit Card and their Bank of Hawaii Credit Cards, and they were starting to get in over their heads. Despite Roslyn’s job as a copy writer, they struggled to make payments on the $21,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Contact Details for Mercantile Bank of Missouri Valley, the provider of this secured loan

  • Mercantile Bank of Missouri Valley
  • City: Richmond
  • State: Missouri
  • Address: 100 East North Main Street
  • County: Ray
  • Zip code: 64085

Several other requests for credit have been made by Roslyn in the past, including one from Jessamine First Federal Savings and Loan Association in Richmond, Missouri before Roslyn was approved for the $42000 by Mercantile Bank of Missouri Valley

Roslyn made 8 prior attempts to obtain a secured loan, 2 of which were with Jessamine First Federal Savings and Loan Association, a lending institution in Richmond, Missouri known to specialize in secured loans specifically. Before finding Mercantile Bank of Missouri Valley, Roslyn was very concerned due to their inexperience and excellent credit score.

Roslyn’s Overall FICO score at the time of acceptance for a secured loan, taking into account their copy writer job and their future job as a medical and scientific illustrator

Fico Score: 824

Signature Loan found in Richmond, Missouri for $42000 with excellent credit by Roslyn

A lot of borrowers struggle with obtaining signature loans in Richmond, Missouri, and Roslyn is no exception. Roslyn went to 4 lending institutions or more before settling on Mercantile Bank of Missouri Valley, who offered Roslyn a signature loan for $42000. Typical signature loans simply require a client, like Roslyn’s signature to get them, up to $44,000 in some cases. Roslyn was able to get $42000 as a secured loan, which is very high for a secured loan. Since signature loans do not need a cosigner, these loans generally require improved credit, as high as 715

Client Profile: Roslyn Getsinger of Richmond, Missouri
  • Full name (Changed if requested): Roslyn Getsinger
  • Current Credit: loans.hit.utils.Fico@cc34f4d
  • Current City: Richmond
  • State: Missouri
  • Zip code: 64089
  • Yearly income: $69,000
  • Current Job: copy writer
  • Current County: Ray
  • Goal Yearly Income: $117,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $2000

Debt Consolidation Can Assist Most Highly Indebted Borrower to Escape Bad Debts like Loan Sharks

Normal debt consolidation loans vary from $38,000.00 to $56,000.00. They are typically used to pay off existing high interest loans like credit cards. Roslyn needed a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Roslyn was able to find a secured loan in the end. Debt consolidation, or simply consolidation, is a tactic in the debt snowball method which changes your bad, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans usually have interest rates as low as 4.8%.

Before applying for this secured loan, Roslyn had an Experian score of 843, which is excellent, so Mercantile Bank of Missouri Valley most likely cannot provide Roslyn a secured loan

Experian Score: 843

Roslyn has a low current yearly income, but has several of prospects

Roslyn has always wanted to be a medical and scientific illustrator, but would have to attend Southern West Virginia Community and Technical College again to become one. Roslyn has other prospects as well, including marine engineer, art appraiser, and cook, which pay $57,000 through to $109,000 per year, at least. For this reason, we believe that Roslyn can afford this secured loan of $42000.

Roslyn was rejected by The Bank of Versailles 4 times before being accepted by Mercantile Bank of Missouri Valley at 100 East North Main Street

On November 7, 2009, Roslyn inquired about borrowing $15,000 from Mercantile Bank of West Central Missouri with Micah, their in law from just outside Richmond, and even with the co-signer, Roslyn was rejected for this secured loan. With excellent credit, it can be very hard to procure funding, even with collateral and a co-signer.

Roslyn’s Transunion score was altered by the secured loan loan, changing to 810 from 824, which is normal in our experience.

Transunion Score: 810

Conclusion of Roslyn’s secured loan

In the end, Roslyn was able to find a secured loan for $42000 with an interest rate of 7.4% interest APR from Mercantile Bank of Missouri Valley in Richmond, Missouri repayable over 6 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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Names of borrowers and lenders have been modified, substituted, or fictionalized for search and privacy purposes. Information presented here is for entertainment purposes only and should not be interpreted as the truth.