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Lynell Had Need For A Debt Consolidation Loan For $60000, Cherokee, Iowa

$60000 Debt Consolidation Loan – Cherokee Iowa, Credit Rating Of 673

  • Experian: 692 – They had a good Experian score
  • Transunion: 659 – Lynell had a good credit score with Transunion.
  • Equifax: Lynell’s Experian score was 673, which is a good credit rating with the Experian rating scheme.

Contact Details for Central Trust and Savings Bank, the provider of this debt consolidation loan

  • Central Trust and Savings Bank
  • City: Cherokee
  • State: Iowa
  • Address: 228 West Main Street
  • County: Cherokee
  • Zip code: 51012
Client Profile: Lynell Ditolla of Cherokee, Iowa
  • Full name (Changed if requested): Lynell Ditolla
  • Current Credit: loans.hit.utils.Fico@1376c05c
  • Current City: Cherokee
  • State: Iowa
  • Zip code: 51020
  • Yearly income: $44,000
  • Current Job: farm hand
  • Current County: Cherokee
  • Goal Yearly Income: $98,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $7000

Lynell’s Overall FICO score at the time of acceptance for a debt consolidation loan, taking into account their farm hand job and their future career as a sales representative

Fico Score: 673

Signature Loan acquired in Cherokee, Iowa for $60000 with good credit by Lynell

Many prospective borrowers have difficulty with finding signature loans in Cherokee, Iowa, and Lynell is the same. Lynell went to 7 lenders or more before settling on Central Trust and Savings Bank, who offered Lynell a signature loan for $60000. Typical signature loans simply need a client, like Lynell’s signature to get them, up to $38,000 in some cases. Lynell was able to get $60000 as a debt consolidation loan, which is very high for a debt consolidation loan. Because signature loans don’t require collateral, these loans generally require improved credit, as high as 795

Lynell has a sad current total income, but has a high number of prospects

Lynell has always wanted to be a sales representative, but would have to attend University of Pittsburgh – Titusville again to become one. Lynell has other prospects as well, including sport’s/entertainment agent, floral designer, and structural drafter, which pay $57,000 through to $106,000 per year, on average. Because of this, we think that Lynell can pay for this debt consolidation loan of $60000.

Paraphrased and Standardized Quote from Lynell for this debt consolidation loan of $60000, provided by Central Trust and Savings Bank

Hello, I am Lynell and I’m from Cherokee in Iowa. Cherokee, county is where I grew up, and now I need a debt consolidation loan in Iowa for $60000 to buy a big ticket item. It wasn’t easy, but Central Trust and Savings Bank really came through for me with this loan for 11.3% interest APR and a term of 11 years. I can probably repay the loan over the 11 year term, including interest. A big thanks to Central Trust and Savings Bank for giving me a chance and my good credit. It look me 6 years to create my credit to 673, and I won’t tarnish it any future. I’m happy with Find Texas Loans for helping me this far.

Lynell was declined by Security State Bank 4 times before being approved by Central Trust and Savings Bank at 228 West Main Street

On August 12, 2013, Lynell applied about borrowing $22,000 from Farmers State Bank with Zandra, their in law from just outside Cherokee, and even with the co-signer, Lynell was rejected for this debt consolidation loan. With good credit, it can be very hard to procure funding, even with collateral and a co-signer.

Personal Loan for a farm hand named Lynell in Cherokee, Iowa to Pay Off American Savings Bank Maximum Rewards Visa Card

Lynell had a tonne of credit card debt on their Elder-Beerman Credit Card and their Atlantic Stewardship Bank Credit Card, and they were starting to get in over their heads. Despite Lynell’s job as a farm hand, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Lynell’s Transunion score was changed by the debt consolidation loan loan, changing to 659 from 673, which is typical in our experience.

Transunion Score: 659

8 Months in the Past, Lynell Attempted to Find a High Risk Loan for $47,000.00, and it was Hard

It is an existing struggle for borrowers to get high risk loans in a safe way. a lot of high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Lynell. Lynell decided not to obtain a high risk loan this time. High Risk loans are generally given by lenders to very low credit clients. Borrowers with credit ratings as low as 304 can inquire for a high risk loan and have a chance to be approved.

When Lynell was 21, they tried to obtain a student loan from 5 alternate banks, which harmed their credit rating. Below is a list of Lynell’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $22,000.00 on September 8, 2010
  • Attempt 2) Loan for $21,000.00 on December 20, 2012
  • Attempt 3) Loan for $22,000.00 on November 25, 2012
  • Attempt 4) Loan for $22,000.00 on January 25, 2009
  • Attempt 5) Loan for $20,000.00 on January 2, 2010

Installment loan for Lynell, a graduate of University of Pittsburgh – Titusville and a farm hand working for over $63,000 per year

Lynell, an alumnus at University of Pittsburgh – Titusville and a farm hand in Cherokee, Iowa wants a debt consolidation loan to purchase a car. Lynell has instead chosen to obtain an installment loan for $14,000 and is currently seeking lenders like First State Bank of Mapleton to process their request.

Previous requests on Lynell’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$49660.00 8 5.1% $631.06 Mills County Bank National Association September 10, 2010
$50340.00 11 9.3% $610.48 Postville State Bank January 24, 2011
$49670.00 7 9.7% $816.9 Washington State Bank December 29, 2013
$49760.00 5 10.5% $1069.54 Rippey Savings Bank November 10, 2014

Debt Consolidation Can Help Any Highly Indebted Borrower to Escape Bad Debts like Loan Sharks

Average debt consolidation loans vary from $37,000.00 to $58,000.00. They are typically used to pay off existing high interest loans like credit cards. Lynell needed a debt consolidation loan to pay for their existing debt consolidation loan and their payday loan. Lynell was able to find a debt consolidation loan in the end. Debt consolidation, or just consolidation, is a technique in the strategic borrowing method which changes your dirty, high interest loans to one lower interest loan. Debt consolidation loans generally have interest rates as low as 4.8%.

Many past requests for credit have been made by Lynell in the past, including one from FirstSouth Bank in Cherokee, Iowa before Lynell was accepted for the $60000 by Central Trust and Savings Bank

Lynell made 5 previous attempts to obtain a debt consolidation loan, 2 of which were with FirstSouth Bank, a lending institution in Cherokee, Iowa known to specialize in debt consolidation loans specifically. Before finding Central Trust and Savings Bank, Lynell was concerned due to their inexperience and good credit score.

Fast Loans for Lynell in Cherokee, Iowa to prevent bankruptcy or harm from debt collectors.

Fast loans in Cherokee, Iowa aren’t actually that difficult to obtain, particularly if you have some finesse like Lynell. Lynell was able to find a fast loan for $60000 from Oakland Savings Bank and Rippey Savings Bank, but declined both offers in favor of their debt consolidation loan from Central Trust and Savings Bank. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 6 weeks for installment loans. A big improvement in the case that a borrower is on the go.

Before applying for this debt consolidation loan, Lynell had an Experian score of 692, which is good, so Central Trust and Savings Bank likely cannot provide Lynell a debt consolidation loan

Experian Score: 692

Conclusion of Lynell’s debt consolidation loan

In the end, Lynell was able to find a debt consolidation loan for $60000 with an interest rate of 5.3% interest APR from Central Trust and Savings Bank in Cherokee, Iowa repayable over 11 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.