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Consolidation Loan Of $100000 For Bad Credit Alabama Resident

$100000 Consolidation Loan – Russellville Alabama, Credit Rating Of 489

  • Experian: 500 – This individual had a bad Experian rating
  • Transunion: 470 – Harry had a bad credit score with Transunion.
  • Equifax: Harry’s Experian score was 489, which is a bad credit rating with the Experian rating scheme.

Harry was not approved by Traders & Farmers Bank 7 times prior to being approved by Franklin Federal Savings and Loan Association at 111 South Jackson Ave

On February 11, 2010, Harry inquired about borrowing $37,000 from Merchants Bank of Alabama with Yuk, their in law from just outside Russellville, and even with the co-signer, Harry was rejected for this consolidation loan. With bad credit, it can be difficult to obtain financing, even with collateral and a co-signer.

Personal Loan for a medical administrative assistant named Harry in Russellville, Alabama to Pay Off Merrill Lynch WCMA Business Access

Harry had a tonne of credit card debt on their Tompkins Trust Company Visa Platinum Business Rewards Card and their Defenders of Wildlife WorldPoints Platinum Plus Visa Card, and they were starting to get in over their heads. Despite Harry’s job as a medical administrative assistant, they struggled to make payments on the $27,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Signature Loan easily acquired in Russellville, Alabama for $100000 with bad credit by Harry

Most clients have difficulty with finding signature loans in Russellville, Alabama, and Harry is no different. Harry went to 7 lenders or more prior to finding Franklin Federal Savings and Loan Association, who offered Harry a signature loan for $100000. Typical signature loans simply need a client, like Harry’s signature to get them, up to $38,000 in some cases. Harry was able to get $100000 as a consolidation loan, which is very high for a consolidation loan. Because signature loans do not need collateral, these loans tend to need better credit, as high as 732

Fast Loans for Harry in Russellville, Alabama to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Russellville, Alabama aren’t actually that difficult to obtain, particularly if you have some finesse like Harry. Harry was able to find a fast loan for $100000 from Bank of Evergreen and Central Bank of St. Clair County, but declined both offers in favor of their consolidation loan from Franklin Federal Savings and Loan Association. The improvement with a fast loan over a personal loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 7 weeks for installment loans. An improvement if you are in a time sensitive situation.

Harry has a very low current gross income, but has several of prospects

Harry has always wanted to be a food batchmaker, but would have to attend Bronx Lebanon Hospital Center again to become one. Harry has other possibilities as well, including legal secretary, stress analyst engineer, and court clerk, which pay $55,000 through to $100,000 per year, on average. For this reason, we think that Harry can afford this consolidation loan of $100000.

7 Months in the Past, Harry Tried Finding a High Risk Loan for $39,000.00, but They Didn’t Find What They were Expecting

It is an well known struggle for clients to get 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 scary to borrowers like Harry. Harry 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 scores as low as 345 can apply for a high risk loan and possibly can be approved.

Before applying for this consolidation loan, Harry had an Experian score of 500, which is bad, so Franklin Federal Savings and Loan Association probably cannot provide Harry a consolidation loan

Experian Score: 500

Harry’s Overall FICO score at the time of acceptance for a consolidation loan, taking into account their medical administrative assistant job and their future job as a food batchmaker

Fico Score: 489

Client Profile: Harry Christenbury of Russellville, Alabama
  • Full name (Changed if requested): Harry Christenbury
  • Current Credit: loans.hit.utils.Fico@6267c3bb
  • Current City: Russellville
  • State: Alabama
  • Zip code: 35656
  • Yearly income: $37,000
  • Current Job: medical administrative assistant
  • Current County: Franklin
  • Goal Yearly Income: $99,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $9000

Harry’s Transunion score was changed by the consolidation loan loan, changing to 470 from 489, which is typical in our experience.

Transunion Score: 470

Paraphrased and Standardized Quote from Harry for this consolidation loan of $100000, provided by Franklin Federal Savings and Loan Association

Hello, I am Harry and my hometown is Russellville in Alabama. Franklin, county is where I grew up, and now I need a consolidation loan in Alabama for $100000 to avoid bankruptcy. It has been difficult, but Franklin Federal Savings and Loan Association really came through for me with this loan for 8.5% interest APR and a term of 14 years. I will repay the loan over the 14 year term, including interest. A big thanks to Franklin Federal Savings and Loan Association for trusting me and my bad credit. It look me 4 years to build my credit to 489, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for assisting me this far.

Debt Consolidation Will Assist Any Highly Indebted Borrower to Escape Bad Debts like Payday Loans

Most debt consolidation loans vary from $32,000.00 to $51,000.00. They are typically used to pay off existing high interest loans like credit cards. Harry required a debt consolidation loan to pay for their existing consolidation loan and their loan shark loan. Harry was able to find a consolidation loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which converts your dirty, high interest loans to one lower interest loan. Debt consolidation loans usually have interest rates as low as 4.0%.

When Harry was 22, they attempted to obtain a student loan from 5 different banks, which harmed their credit rating. Below is a list of Harry’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $24,000.00 on May 15, 2010
  • Attempt 2) Loan for $30,000.00 on December 11, 2010
  • Attempt 3) Loan for $22,000.00 on October 13, 2010
  • Attempt 4) Loan for $21,000.00 on October 3, 2010
  • Attempt 5) Loan for $23,000.00 on May 16, 2009

Installment loan for Harry, a graduate of Bronx Lebanon Hospital Center and a medical administrative assistant working for over $76,000 per year

Harry, an alumnus at Bronx Lebanon Hospital Center and a medical administrative assistant in Russellville, Alabama needs a consolidation loan to purchase something frivolous. Harry has instead chosen to get an installment loan for $29,000 and is currently seeking lenders like Robertson Banking Company to process their request.

Contact Details for Franklin Federal Savings and Loan Association, the provider of this consolidation loan

  • Franklin Federal Savings and Loan Association
  • City: Russellville
  • State: Alabama
  • Address: 111 South Jackson Ave
  • County: Franklin
  • Zip code: 35653

Several previous requests for credit have been made by Harry in the past, including one from Peoples Bank of Graceville in Russellville, Alabama before Harry was approved for the $100000 by Franklin Federal Savings and Loan Association

Harry made 9 previous tries to obtain a consolidation loan, 2 of which were with Peoples Bank of Graceville, a lender in Russellville, Alabama known to specialize in consolidation loans specifically. Before finding Franklin Federal Savings and Loan Association, Harry was concerned due to their inexperience and bad credit score.

Previous requests on Harry’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$99800.00 7 8.8% $1595.58 AuburnBank October 2, 2011
$99540.00 8 7.3% $1372.01 Bank of the South January 19, 2012
$99540.00 8 8.7% $1442.84 Alabama City Bank of Gadsden, Alabama March 30, 2014
$99690.00 8 10.7% $1549.89 The Exchange Bank, Attalla, Alabama April 8, 2015

Conclusion of Harry’s consolidation loan

In the end, Harry was able to find a consolidation loan for $100000 with an interest rate of 10.2% interest APR from Franklin Federal Savings and Loan Association in Russellville, Alabama repayable over 14 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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