$57000 Debt Consolidation Loan – Fredericksburg Virginia, Credit Rating Of 841
- Experian: 854 – This client had an excellent Experian score
- Transunion: 825 – Errol had an excellent credit rating with Transunion.
- Equifax: Errol’s Experian score was 841, which is an excellent credit rating using the Experian system.
Fast Loans for Errol in Fredericksburg, Virginia to prevent bankruptcy or bodily harm from debt collectors.
Fast loans in Fredericksburg, Virginia aren’t actually that difficult to obtain, particularly if you have some finesse like Errol. Errol was able to find a fast loan for $57000 from Bank of Botetourt and Capital One, National Association, but turned down both offers in favor of their debt consolidation loan from Farmers and Merchants State Bank. The improvement with a fast loan over a installment loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 6 weeks for personal loans. An improvement if a borrower is in a pinch.
Paraphrased and Standardized Quote from Errol for this debt consolidation loan of $57000, provided by Farmers and Merchants State Bank
Hi, I am Errol and I’m from Fredericksburg in Virginia. Fredericksburg City, county is where I grew up, and now I need a debt consolidation loan in Virginia for $57000 to renovate my home. It has been difficult, but Farmers and Merchants State Bank really came through for me with this loan for 9.1% interest APR and a term of 20 years. I can probably repay the loan over the 20 year term, including interest. A big thanks to Farmers and Merchants State Bank for trusting me and my excellent credit. It look me 5 years to build my credit to 841, and I won’t tarnish it any future. I’m pleased with Find Texas Loans for helping me this far.
Debt Consolidation Will Help Most Highly Indebted Borrower to Escape Bad Debts like Credit Card Debt
Most debt consolidation loans vary from $27,000.00 to $59,000.00. They are normally used to pay off existing high interest loans like credit cards. Errol needed a debt consolidation loan to pay for their existing debt consolidation loan and their loan shark loan. Errol was able to find a debt 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 one lower interest loan. Debt consolidation loans generally have interest rates that are low, like 4.7%.
Errol was rejected by First Virginia Bank – Hampton Roads 7 times prior to being granted funding by Farmers and Merchants State Bank at 1001 Princess Anne Street
On December 28, 2010, Errol applied about borrowing $39,000 from Bank of McKenney with Elaina, their friend from just outside Fredericksburg, and even with the co-signer, Errol was rejected for this debt consolidation loan. With excellent credit, it can be challenging to obtain financing, even with collateral and a co-signer.
Errol has a very low current total income, but has several of prospects
Errol has always wanted to be a paste-up worker, but would need attend Muhlenberg College again to become one. Errol has other possibilities as well, including social psychologist, boat builder, and internal auditor, which pay $51,000 through to $100,000 per year, on average. Because of this, we think that Errol can afford this debt consolidation loan of $57000.
Multiple past requests for credit have been made by Errol in the past, including one from The Mingo National Bank of Mingo Junction in Fredericksburg, Virginia before Errol was approved for the $57000 by Farmers and Merchants State Bank
Errol made 6 previous tries to obtain a debt consolidation loan, 2 of which were with The Mingo National Bank of Mingo Junction, a lender in Fredericksburg, Virginia known to specialize in debt consolidation loans specifically. Prior to finding Farmers and Merchants State Bank, Errol was desperate due to their inexperience and excellent credit score.
Errol’s Overall FICO score at the time of acceptance for a debt consolidation loan, taking into account their bank examiner job and their future job as a paste-up worker
7 Months Ago, Errol Attempted to Find 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 safe way. Many high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Errol. Errol decided not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit borrowers. Borrowers with credit scores as low as 559 can apply for a high risk loan and have a chance to be approved.
- Full name (Changed if requested): Errol Rodkey
- Current Credit: loans.hit.utils.Fico@1b2c6ec2
- Current City: Fredericksburg
- State: Virginia
- Zip code: 22408
- Yearly income: $37,000
- Current Job: bank examiner
- Current County: Fredericksburg City
- Goal Yearly Income: $111,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $4000
Contact Details for Farmers and Merchants State Bank, the provider of this debt consolidation loan
- Farmers and Merchants State Bank
- City: Fredericksburg
- State: Virginia
- Address: 1001 Princess Anne Street
- County: Fredericksburg City
- Zip code: 22401
Previous requests on Errol’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$128830.00||7||7.5%||$1976.03||Citizens Bank and Trust Company||June 6, 2012|
|$128590.00||7||8.1%||$2010.64||Peoples Community Bank||April 3, 2013|
|$129140.00||9||5.1%||$1493.58||Crestar Bank||January 31, 2014|
|$129150.00||6||9.5%||$2360.18||The Merchants and Farmers Bank||May 1, 2014|
|$129220.00||3||7.8%||$4037.37||First Virginia Bank-South Hill||May 26, 2014|
Signature Loan found in Fredericksburg, Virginia for $57000 with excellent credit by Errol
Many clients struggle with finding signature loans in Fredericksburg, Virginia, and Errol is the same. Errol went to 8 lending institutions or more before finding Farmers and Merchants State Bank, who offered Errol a signature loan for $57000. Typical signature loans simply require a client, like Errol’s signature to obtain them, up to $28,000 in some cases. Errol was able to get $57000 as a debt consolidation loan, which is very high for a debt consolidation loan. Since signature loans don’t need a cosigner, these loans tend to need improved credit, as high as 760
Before applying for this debt consolidation loan, Errol had an Experian score of 854, which is excellent, so Farmers and Merchants State Bank probably cannot provide Errol a debt consolidation loan
When Errol was 23, they tried to obtain a student loan from 4 different lenders, which damaged their credit rating. Below is a chronology of Errol’s prior attempts at finding a student loan:
- Attempt 1) Loan for $39,000.00 on March 9, 2011
- Attempt 2) Loan for $36,000.00 on January 15, 2013
- Attempt 3) Loan for $35,000.00 on March 26, 2010
- Attempt 4) Loan for $21,000.00 on March 25, 2012
Errol’s Transunion score was altered by the debt consolidation loan loan, changing to 825 from 841, which is normal in our experience.
Installment loan for Errol, a graduate of Muhlenberg College and a bank examiner working for over $68,000 per year
Errol, an alumnus at Muhlenberg College and a bank examiner in Fredericksburg, Virginia needs a debt consolidation loan to purchase a house. Errol has instead chosen to obtain an installment loan for $6,000 and is currently seeking lenders like First Virginia Bank of Augusta to provide it.
Personal Loan for a bank examiner named Errol in Fredericksburg, Virginia to Pay Off Simmons Bank Visa Gold Select
Errol had a tonne of credit card debt on their Barneys New York Credit Card and their Ann Taylor Card, and they were starting to get in over their heads. Despite Errol’s job as a bank examiner, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.
Conclusion of Errol’s debt consolidation loan
In the end, Errol was able to find a debt consolidation loan for $57000 with an interest rate of 6.1% interest APR from Farmers and Merchants State Bank in Fredericksburg, Virginia repayable over 20 years from today.