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Debt Consolidation Loan Of $893000 For Good Credit Kansas Resident

$893000 Debt Consolidation Loan – Formoso Kansas, Credit Score Of 649

  • Experian: 665 – This client had a good Experian rating
  • Transunion: 637 – Teresa had a good credit rating with Transunion.
  • Equifax: Teresa’s Experian score was 649, which is a good credit rating with the Experian scale.

Teresa’s Transunion score was altered by the debt consolidation loan loan, changing to 637 from 649, which is normal in our experience.

Transunion Score: 637

Previous requests on Teresa’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$97660.00 5 10.5% $2099.09 Citizens Bank and Trust Company July 26, 2011
$97740.00 6 5.6% $1601.44 The Morrill and Janes Bank and Trust Company March 21, 2013
$98460.00 6 11.5% $1899.41 The Citizens State Bank, Liberal, Kansas February 18, 2014
$97900.00 6 9.1% $1769.56 Citizens State Bank November 14, 2014
$98120.00 6 6.8% $1663.44 The Peoples Bank July 1, 2015

Many previous requests for credit have been made by Teresa in the past, including one from NorthStar Bank in Formoso, Kansas before Teresa was accepted for the $893000 by The Formoso Bank

Teresa made 4 previous tries to obtain a debt consolidation loan, 2 of which were with NorthStar Bank, a lending institution in Formoso, Kansas known to specialize in debt consolidation loans specifically. Prior to finding The Formoso Bank, Teresa was desperate due to their inexperience and good credit rating.

Fast Loans for Teresa in Formoso, Kansas to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Formoso, Kansas aren’t actually that difficult to obtain, particularly if you have some gumption like Teresa. Teresa was able to find a fast loan for $893000 from First Kansas Bank and Trust Company and Alterra Bank, but declined both offers in favor of their debt consolidation loan from The Formoso Bank. The difference 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 debt consolidation loans. Much better in the case that you are in a pinch.

Signature Loan acquired in Formoso, Kansas for $893000 with good credit by Teresa

Many borrowers have difficulty with finding signature loans in Formoso, Kansas, and Teresa is no different. Teresa went to 5 lenders or more prior to finding The Formoso Bank, who offered Teresa a signature loan for $893000. Typical signature loans simply need a client, like Teresa’s signature to obtain them, up to $27,000 in some cases. Teresa was able to get $893000 as a debt consolidation loan, which is very high for a debt consolidation loan. Because signature loans do not require a cosigner, they tend to need higher credit, as high as 739

Installment loan for Teresa, a graduate of INTRAX International Institute and a truck driver working for over $74,000 per year

Teresa, an alumnus at INTRAX International Institute and a truck driver in Formoso, Kansas needs a debt consolidation loan to purchase something frivolous. Teresa has instead chosen to get an installment loan for $5,000 and is at present seeking lenders like The Victory State Bank to provide it.

Client Profile: Teresa Balda of Formoso, Kansas
  • Full name (Changed if requested): Teresa Balda
  • Current Credit: loans.hit.utils.Fico@1218025c
  • Current City: Formoso
  • State: Kansas
  • Zip code: 66946
  • Yearly income: $56,000
  • Current Job: truck driver
  • Current County: Jewell
  • Goal Yearly Income: $117,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $5000

Debt Consolidation Can Help Most Highly Indebted Borrower to Escape Bad Debts like Credit Card Debt

Normal debt consolidation loans vary from $30,000.00 to $58,000.00. They are typically used to pay off existing high interest loans like credit cards. Teresa required a debt consolidation loan to pay for their existing debt consolidation loan and their credit card. Teresa was able to find a debt consolidation loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which converts your dirty, high interest loans to one reduced interest loan. Debt consolidation loans generally have interest rates as low as 3.4%.

Personal Loan for a truck driver named Teresa in Formoso, Kansas to Pay Off Animal Friends Visa Card

Teresa had a tonne of credit card debt on their AOPA WorldPoints Rewards World MasterCard Credit Card and their Sam’s Club Discover Cash Back Card**, and they were starting to get in over their heads. Despite Teresa’s job as a truck driver, they struggled to make payments on the $20,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Contact Details for The Formoso Bank, the provider of this debt consolidation loan

  • The Formoso Bank
  • City: Formoso
  • State: Kansas
  • Address: Main Street
  • County: Jewell
  • Zip code: 66942

Before applying for this debt consolidation loan, Teresa had an Experian score of 665, which is good, so The Formoso Bank probably cannot provide Teresa a debt consolidation loan

Experian Score: 665

8 Months in the Past, Teresa Attempted Finding a High Risk Loan for $23,000.00, and it was Easy

It is an well known struggle for borrowers to get high risk loans in a non-harmful manner. Many high risk loans end up coming from loan sharks or the like, which can be scary to borrowers like Teresa. Teresa chose not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to bad credit applicants. Borrowers with credit scores as low as 482 can inquire for a high risk loan and have a chance to be approved.

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

Teresa has always wanted to be a mail clerk, but would have to attend INTRAX International Institute again to become one. Teresa has other possibilities as well, including medical assistant, real estate appraiser, and highway maintenance worker, which pay $50,000 through to $95,000 per year, on average. For this reason, we believe that Teresa can pay for this debt consolidation loan of $893000.

Teresa was rejected by The State Bank 5 times prior to being approved by The Formoso Bank at Main Street

On January 18, 2009, Teresa inquired about borrowing $32,000 from The American State Bank with Byron, their in law from just outside Formoso, and even with the co-signer, Teresa was rejected for this debt consolidation loan. With good credit, it can be challenging to procure funding, even with collateral and a co-signer.

Teresa’s Overall FICO score at the time of acceptance for a debt consolidation loan, taking into account their truck driver job and their future job as a mail clerk

Fico Score: 649

Paraphrased and Standardized Quote from Teresa for this debt consolidation loan of $893000, provided by The Formoso Bank

Hi, I am Teresa and I am from Formoso in Kansas. Jewell, county is where I grew up, and now I need a debt consolidation loan in Kansas for $893000 to pay bills. It wasn’t easy, but The Formoso Bank really came through for me with this loan for 7.3% interest APR and a term of 3 years. I will repay the loan over the 3 year term, including interest. A big thanks to The Formoso Bank for trusting me and my good credit. It look me 7 years to create my credit to 649, and I won’t tarnish it any future. I’m happy with Find Texas Loans for helping me this far.

When Teresa was 21, they tried to obtain a student loan from 4 different lenders, which damaged their credit score. Below is a chronology of Teresa’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $35,000.00 on May 1, 2011
  • Attempt 2) Loan for $25,000.00 on December 26, 2008
  • Attempt 3) Loan for $22,000.00 on June 6, 2011
  • Attempt 4) Loan for $36,000.00 on March 16, 2013

Conclusion of Teresa’s debt consolidation loan

In the end, Teresa was able to find a debt consolidation loan for $893000 with an interest rate of 8.7% interest APR from The Formoso Bank in Formoso, Kansas repayable over 3 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.