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Consolidation Loan With Reasonable APR In Placer County, California

$50000 Consolidation Loan – Auburn California, Credit Score Of 597

  • Experian: 612 – They had a fair Experian rating
  • Transunion: 579 – Cara had a fair credit rating with Transunion.
  • Equifax: Cara’s Experian score was 597, which is a fair credit score with the Experian scale.

7 Months Ago, Cara Attempted Finding a High Risk Loan for $28,000.00, and it was Hard

There is an existing struggle for clients to find high risk loans in a non-harmful way. Many high risk loans end up coming from loan sharks or similar lenders, which can be physically harmful to borrowers like Cara. Cara decided not to obtain a high risk loan this time. High Risk loans are given to very low credit borrowers. Individuals with credit ratings as low as 518 can apply for a high risk loan and have a chance to be accepted.

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

Normal debt consolidation loans range from $30,000.00 to $57,000.00. They are mainly used to pay off existing high interest loans like credit cards. Cara required a debt consolidation loan to pay for their existing consolidation loan and their credit card. Cara was able to find a consolidation loan in the end. Debt consolidation, or simply consolidation, is a technique in the strategic borrowing method which converts your bad, catastrophically high interest loans to a single reduced interest loan. Debt consolidation loans usually have interest rates as low as 4.8%.

Personal Loan for a home appliance installer named Cara in Auburn, California to Pay Off Bowflex Credit Card

Cara had a lot of credit card debt on their Sleepy’s Credit Card and their Boston College Platinum MasterCard, and they were starting to get in over their heads. Despite Cara’s job as a home appliance installer, they struggled to make payments on the $28,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

When Cara was 23, they tried to obtain a student loan from 7 alternate lenders, which damaged their credit score. Below is a list of Cara’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $37,000.00 on August 30, 2012
  • Attempt 2) Loan for $27,000.00 on September 24, 2010
  • Attempt 3) Loan for $37,000.00 on June 26, 2009
  • Attempt 4) Loan for $24,000.00 on November 22, 2013
  • Attempt 5) Loan for $39,000.00 on January 13, 2011
  • Attempt 6) Loan for $33,000.00 on March 10, 2009
  • Attempt 7) Loan for $33,000.00 on August 19, 2010

Cara’s Overall FICO score at the time of acceptance for a consolidation loan, taking into account their home appliance installer job and their future job as an insurance claims adjuster

Fico Score: 597

Signature Loan acquired in Auburn, California for $50000 with fair credit by Cara

A lot of clients struggle with finding signature loans in Auburn, California, and Cara is the same. Cara went to 5 lending institutions or more prior to finding The Bank of Commerce, National Association, who offered Cara a signature loan for $50000. Typical signature loans simply require a client, like Cara’s signature to get them, up to $41,000 in some cases. Cara was able to get $50000 as a consolidation loan, which is very high for a consolidation loan. Since signature loans don’t require collateral, these loans tend to require better credit, as high as 776

Contact Details for The Bank of Commerce, National Association, the provider of this consolidation loan

  • The Bank of Commerce, National Association
  • City: Auburn
  • State: California
  • Address: 540 Wall Street
  • County: Placer
  • Zip code: 95603

Installment loan for Cara, a graduate of Winthrop University Hospital and a home appliance installer working for over $68,000 per year

Cara, an alumnus at Winthrop University Hospital and a home appliance installer in Auburn, California needs a consolidation loan to purchase a new cell phone. Cara has instead decided to get an installment loan for $14,000 and is currently seeking lenders like Pacific Western Bank to process their request.

Previous requests on Cara’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$139170.00 8 6.7% $1876.69 Santa Monica Bank January 5, 2010
$139190.00 4 11.6% $3638.13 Farmers and Merchants Bank of Long Beach December 18, 2010
$139430.00 7 8.8% $2229.17 First Interstate Bank of California December 30, 2010
$139440.00 7 5.6% $2010.38 Union Bank May 8, 2012
$139460.00 6 5.7% $2291.56 Citizens Commercial Trust and Savings Bank of Pasadena August 11, 2013

Paraphrased and Standardized Quote from Cara for this consolidation loan of $50000, provided by The Bank of Commerce, National Association

Hi, I am Cara and I’m from Auburn in California. Placer, county is where I grew up, and now I need a consolidation loan in California for $50000 to avoid bankruptcy. It has been difficult, but The Bank of Commerce, National Association really came through for me with this loan for 11.2% interest APR and a term of 13 years. I will repay the loan over the 13 year term, including interest. A big thanks to The Bank of Commerce, National Association for trusting me and my fair credit. It look me 9 years to build my credit to 597, and I won’t tarnish it any more. I’m happy with Find Texas Loans for helping me this far.

Before applying for this consolidation loan, Cara had an Experian score of 612, which is fair, so The Bank of Commerce, National Association probably cannot provide Cara a consolidation loan

Experian Score: 612

Cara’s Transunion score was altered by the consolidation loan loan, changing to 579 from 597, which is typical in our experience.

Transunion Score: 579

Cara has a very low current total income, but has a high number of prospects

Cara has always wanted to be an insurance claims adjuster, but would have to attend Winthrop University Hospital again to become one. Cara has other possibilities as well, including physician’s assistant, ship mate, and family caseworker, which pay $51,000 through to $104,000 per year, at least. For this reason, we believe that Cara can afford this consolidation loan of $50000.

Cara was not approved by Citizens State Bank of Santa Paula 6 times prior to being granted funding by The Bank of Commerce, National Association at 540 Wall Street

On September 7, 2010, Cara inquired about borrowing $10,000 from Westamerica Bank with Georgine, their in law from just outside Auburn, and even with the co-signer, Cara was rejected for this consolidation loan. With fair credit, it can be very hard to procure funding, even with collateral and a co-signer.

Several past requests for credit have been made by Cara in the past, including one from Hume Bank in Auburn, California before Cara was approved for the $50000 by The Bank of Commerce, National Association

Cara made 7 previous tries to obtain a consolidation loan, 2 of which were with Hume Bank, a bank in Auburn, California known to specialize in consolidation loans specifically. Prior to finding The Bank of Commerce, National Association, Cara was desperate due to their inexperience and fair credit score.

Client Profile: Cara Ruttman of Auburn, California
  • Full name (Changed if requested): Cara Ruttman
  • Current Credit: loans.hit.utils.Fico@312b1dae
  • Current City: Auburn
  • State: California
  • Zip code: 95604
  • Yearly income: $65,000
  • Current Job: home appliance installer
  • Current County: Placer
  • Goal Yearly Income: $93,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $2000

Fast Loans for Cara in Auburn, California to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Auburn, California aren’t actually that difficult to obtain, especially if you have some finesse like Cara. Cara was able to find a fast loan for $50000 from Santa Ynez Valley Bank and Bank of Alex Brown, but turned down both offers in favor of their consolidation loan from The Bank of Commerce, National Association. The improvement with a fast loan over a debt consolidation loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 5 weeks for personal loans. Much better in the case that you are in a time sensitive situation.

Conclusion of Cara’s consolidation loan

In the end, Cara was able to find a consolidation loan for $50000 with an interest rate of 8.1% interest APR from The Bank of Commerce, National Association in Auburn, California repayable over 13 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.