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Consolidation Loan With Very Low APR In St. Tammany County, Louisiana

$168000 Consolidation Loan – Madisonville Louisiana, Credit Score Of 494

  • Experian: 505 – This client had a bad Experian rating
  • Transunion: 480 – Jose had a bad credit rating with Transunion.
  • Equifax: Jose’s Experian score was 494, which is a bad credit score using the Experian scale.

Previous requests on Jose’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$27360.00 4 8.7% $676.96 Bank of Zachary August 3, 2011
$27260.00 6 11.6% $527.28 Landmark Bank October 20, 2012
$26690.00 5 8.3% $545.02 Bank of Gonzales January 16, 2013
$26700.00 5 10.5% $573.89 The Highlands Bank October 6, 2013

Jose’s Transunion score was altered by the consolidation loan loan, changing to 480 from 494, which is typical in our experience.

Transunion Score: 480

Contact Details for Louisiana Commercial Bank, the provider of this consolidation loan

  • Louisiana Commercial Bank
  • City: Madisonville
  • State: Louisiana
  • Address: Louisiana Highway 22
  • County: St. Tammany
  • Zip code: 70447

Jose’s Overall FICO score at the time of acceptance for a consolidation loan, taking into account their budget analyst job and their future job as a chief financial officer

Fico Score: 494

Debt Consolidation Will Assist Most Deeply Indebted Borrower to Escape Bad Debts like Loan Sharks

Normal debt consolidation loans vary from $21,000.00 to $58,000.00. They are typically used to pay off existing high interest loans like credit cards. Jose required a debt consolidation loan to pay for their existing consolidation loan and their payday loan. Jose was able to find a consolidation loan in the end. Debt consolidation, or simply consolidation, is a tactic in the debt snowball method which converts your dirty, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans usually have interest rates that are low, like 4.8%.

Jose was not approved by The Highlands Bank 5 times prior to being granted funding by Louisiana Commercial Bank at Louisiana Highway 22

On May 19, 2011, Jose applied about borrowing $43,000 from Bank of Greensburg with Eulah, their friend from just outside Madisonville, and even with the co-signer, Jose was rejected for this consolidation loan. With bad credit, it can be very hard to obtain financing, even with collateral and a co-signer.

Signature Loan found in Madisonville, Louisiana for $168000 with bad credit by Jose

Most clients struggle with obtaining signature loans in Madisonville, Louisiana, and Jose is no exception. Jose went to 6 lending institutions or more prior to finding Louisiana Commercial Bank, who offered Jose a signature loan for $168000. Typical signature loans simply need a client, like Jose’s signature to get them, up to $33,000 in some cases. Jose was able to get $168000 as a consolidation loan, which is very high for a consolidation loan. Because signature loans don’t need collateral, they tend to need better credit, as high as 786

Installment loan for Jose, a graduate of Bronx Community College of the City University of New York and a budget analyst working for over $75,000 per year

Jose, an alumnus at Bronx Community College of the City University of New York and a budget analyst in Madisonville, Louisiana wants a consolidation loan to purchase a new cell phone. Jose has instead decided to obtain an installment loan for $19,000 and is at present seeking lenders like Citizens Bank & Trust Company to provide it.

Several past requests for credit have been made by Jose in the past, including one from Freedom Bank in Madisonville, Louisiana before Jose was accepted for the $168000 by Louisiana Commercial Bank

Jose made 4 prior attempts to obtain a consolidation loan, 2 of which were with Freedom Bank, a lending institution in Madisonville, Louisiana known to specialize in consolidation loans specifically. Before finding Louisiana Commercial Bank, Jose was concerned due to their inexperience and bad credit rating.

Fast Loans for Jose in Madisonville, Louisiana to prevent bankruptcy or harm from debt collectors.

Fast loans in Madisonville, Louisiana aren’t actually that difficult to obtain, particularly if you have some finesse like Jose. Jose was able to find a fast loan for $168000 from Bank of Montgomery and Bank of Grand Cane, but turned down both offers in favor of their consolidation loan from Louisiana Commercial Bank. The difference with a fast loan over a personal loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 5 weeks for installment loans. Much better in the case that a client is in a pinch.

Client Profile: Jose Curtice of Madisonville, Louisiana
  • Full name (Changed if requested): Jose Curtice
  • Current Credit: loans.hit.utils.Fico@52cc8049
  • Current City: Madisonville
  • State: Louisiana
  • Zip code: 70456
  • Yearly income: $65,000
  • Current Job: budget analyst
  • Current County: St. Tammany
  • Goal Yearly Income: $120,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000

Personal Loan for a budget analyst named Jose in Madisonville, Louisiana to Pay Off Barnes & Noble MasterCard

Jose had a lot of credit card debt on their PNC Bank Core Visa Credit Card and their Alliance Bank of Arizona Business Credit Card, and they were starting to get in over their heads. Despite Jose’s job as a budget analyst, they struggled to make payments on the $29,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Paraphrased and Standardized Quote from Jose for this consolidation loan of $168000, provided by Louisiana Commercial Bank

Hello, I am Jose and I am from Madisonville in Louisiana. St. Tammany, county is where I grew up, and now I need a consolidation loan in Louisiana for $168000 to renovate my home. It wasn’t easy, but Louisiana Commercial Bank really came through for me with this loan for 9.6% interest APR and a term of 21 years. I can repay the loan over the 21 year term, including interest. A big thanks to Louisiana Commercial Bank for giving me a chance and my bad credit. It look me 8 years to create my credit to 494, and I won’t tarnish it any more. I’m happy with Find Texas Loans for assisting me this far.

When Jose was 22, they tried to obtain a student loan from 7 different lenders, which damaged their credit score. Below is a list of Jose’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $25,000.00 on August 11, 2011
  • Attempt 2) Loan for $28,000.00 on March 19, 2010
  • Attempt 3) Loan for $33,000.00 on July 1, 2011
  • Attempt 4) Loan for $34,000.00 on June 11, 2009
  • Attempt 5) Loan for $30,000.00 on January 5, 2010
  • Attempt 6) Loan for $26,000.00 on July 9, 2011
  • Attempt 7) Loan for $30,000.00 on June 25, 2009

Jose has a very low current yearly income, but has several of prospects

Jose has always wanted to be a chief financial officer, but would need attend Bronx Community College of the City University of New York again to achieve it. Jose has other prospects as well, including irrigation engineer, pediatric dentist, and tax lawyer, which pay $56,000 through to $104,000 per year, at least. Because of this, we believe that Jose can pay for this consolidation loan of $168000.

7 Months Ago, Jose Attempted to Find a High Risk Loan for $43,000.00, and it was Hard

It is an ongoing struggle for borrowers to find high risk loans in a safe way. Many high risk loans end up coming from loan sharks or similar lenders, which can be physically harmful to borrowers like Jose. Jose decided not to obtain a high risk loan this time. High Risk loans are given to very low credit individuals. Clients with credit ratings as low as 406 can inquire for a high risk loan and have a chance to be accepted.

Before applying for this consolidation loan, Jose had an Experian score of 505, which is bad, so Louisiana Commercial Bank most likely cannot provide Jose a consolidation loan

Experian Score: 505

Conclusion of Jose’s consolidation loan

In the end, Jose was able to find a consolidation loan for $168000 with an interest rate of 6.7% interest APR from Louisiana Commercial Bank in Madisonville, Louisiana repayable over 21 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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