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Auto Loan For $76000 Near 62919, Illinois With A Credit Score Of 463

$76000 Auto Loan – Cave In Rock Illinois, Credit Score Of 463

  • Experian: 473 – This client had a bad Experian score
  • Transunion: 449 – Clark had a bad credit rating with Transunion.
  • Equifax: Clark’s Experian score was 463, which is a bad credit rating using the Experian rating scheme.

Many other requests for credit have been made by Clark in the past, including one from Combank/Longwood in Cave In Rock, Illinois before Clark was approved for the $76000 by Hardin County State Bank

Clark made 8 prior attempts to obtain an auto loan, 2 of which were with Combank/Longwood, a bank in Cave In Rock, Illinois known to specialize in auto loans specifically. Before finding Hardin County State Bank, Clark was concerned due to their inexperience and bad credit rating.

7 Months in the Past, Clark Attempted Finding a High Risk Loan for $29,000.00, and it was Hard

It is an existing struggle for borrowers to get high risk loans in a safe way. Many high risk loans end up coming from loan sharks or similar lenders, which can be scary to borrowers like Clark. Clark chose not to obtain a high risk loan this time. High Risk loans are generally given by lenders to very low credit individuals. Borrowers with credit ratings as low as 495 can inquire for a high risk loan and possibly can be approved.

Personal Loan for a farm manager named Clark in Cave In Rock, Illinois to Pay Off OneWest Bank MasterCard Credit Card

Clark had a tonne of credit card debt on their Ohio Savings Bank Maximum Rewards Visa Card and their Conestoga Bank Visa Business Bonus Rewards Card, and they were starting to get in over their heads. Despite Clark’s job as a farm manager, they struggled to make payments on the $20,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Client Profile: Clark Schwalen of Cave In Rock, Illinois
  • Full name (Changed if requested): Clark Schwalen
  • Current Credit: loans.hit.utils.Fico@6576fe71
  • Current City: Cave In Rock
  • State: Illinois
  • Zip code: 62928
  • Yearly income: $33,000
  • Current Job: farm manager
  • Current County: Hardin
  • Goal Yearly Income: $136,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $0

Installment loan for Clark, a graduate of Indiana Wesleyan University and a farm manager working for over $61,000 per year

Clark, an alumnus at Indiana Wesleyan University and a farm manager in Cave In Rock, Illinois needs an auto loan to purchase a house. Clark has instead chosen to get an installment loan for $28,000 and is at present seeking lenders like State Bank of Niantic to provide it.

Paraphrased and Standardized Quote from Clark for this auto loan of $76000, provided by Hardin County State Bank

Hi, I am Clark and I’m from Cave In Rock in Illinois. Hardin, county is where I grew up, and now I need a auto loan in Illinois for $76000 to avoid bankruptcy. It wasn’t easy, but Hardin County State Bank really came through for me with this loan for 11.0% interest APR and a term of 7 years. I will repay the loan over the 7 year term, including interest. A big thanks to Hardin County State Bank for trusting me and my bad credit. It look me 4 years to build my credit to 463, and I won’t tarnish it any future. I’m pleased with Find Texas Loans for helping me this far.

When Clark was 24, they attempted to obtain a student loan from 7 different banks, which damaged their credit score. Below is a chronology of Clark’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $26,000.00 on February 3, 2012
  • Attempt 2) Loan for $25,000.00 on October 15, 2010
  • Attempt 3) Loan for $39,000.00 on November 20, 2012
  • Attempt 4) Loan for $38,000.00 on February 3, 2011
  • Attempt 5) Loan for $26,000.00 on April 4, 2009
  • Attempt 6) Loan for $34,000.00 on January 11, 2012
  • Attempt 7) Loan for $21,000.00 on March 18, 2011

Clark’s Overall FICO score at the time of acceptance for an auto loan, taking into account their farm manager job and their future job as an oceanographic assistant

Fico Score: 463

Signature Loan found in Cave In Rock, Illinois for $76000 with bad credit by Clark

Many clients struggle with obtaining signature loans in Cave In Rock, Illinois, and Clark is no different. Clark went to 8 lending institutions or more before finding Hardin County State Bank, who offered Clark a signature loan for $76000. Typical signature loans simply need a client, like Clark’s signature to obtain them, up to $38,000 in some cases. Clark was able to get $76000 as a auto loan, which is very high for an auto loan. Because signature loans don’t need collateral, they tend to require higher credit, as high as 738

Clark was rejected by Merchandise National Bank of Chicago 6 times before being approved by Hardin County State Bank at Main Street

On April 19, 2009, Clark inquired about borrowing $44,000 from Commerce Bank of Woodford County, National Association with Angelo, their friend from just outside Cave In Rock, and even with the co-signer, Clark was rejected for this auto loan. With bad credit, it can be a challenge to obtain funding, even with collateral and a co-signer.

Previous requests on Clark’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$16550.00 3 6.7% $508.75 The Gerber State Bank August 10, 2013
$17490.00 5 11.7% $386.41 The Belvidere National Bank and Trust Company August 30, 2013
$16560.00 3 6.2% $505.29 Commerce Bank November 3, 2013
$16820.00 5 10.7% $363.2 Byron Bank June 24, 2014

Before applying for this auto loan, Clark had an Experian score of 473, which is bad, so Hardin County State Bank likely cannot provide Clark an auto loan

Experian Score: 473

Debt Consolidation Can Help Most Deeply Indebted Borrower to Escape Bad Debts like Payday Loans

Most debt consolidation loans vary from $36,000.00 to $45,000.00. They are mainly used to pay off existing high interest loans like credit cards. Clark required a debt consolidation loan to pay for their existing auto loan and their payday loan. Clark was able to find a auto loan in the end. Debt consolidation, or simply consolidation, is a technique 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 that are low, like 2.1%.

Contact Details for Hardin County State Bank, the provider of this auto loan

  • Hardin County State Bank
  • City: Cave In Rock
  • State: Illinois
  • Address: Main Street
  • County: Hardin
  • Zip code: 62919

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

Clark has always wanted to be an oceanographic assistant, but would have to attend Indiana Wesleyan University again to become one. Clark has other prospects as well, including industrial engineering technician, computer and information scientists, and middle school teacher, which pay $53,000 through to $104,000 per year, on average. Because of this, we believe that Clark can afford this auto loan of $76000.

Fast Loans for Clark in Cave In Rock, Illinois to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Cave In Rock, Illinois aren’t actually that difficult to obtain, especially if you have some finesse like Clark. Clark was able to find a fast loan for $76000 from Peoples National Bank of Kewanee and Drexel National Bank, but turned down both offers in favor of their auto loan from Hardin County State Bank. The difference with a fast loan over a installment loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 5 weeks for debt consolidation loans. A big improvement if a client is on the go.

Clark’s Transunion score was changed by the auto loan loan, changing to 449 from 463, which is normal in our experience.

Transunion Score: 449

Conclusion of Clark’s auto loan

In the end, Clark was able to find an auto loan for $76000 with an interest rate of 8.6% interest APR from Hardin County State Bank in Cave In Rock, Illinois repayable over 7 years from today.

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.