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Direct Loan Of $54000 For Terrible Credit Minnesota Resident

$54000 Direct Loan – Rushford Minnesota, Credit Score Of 364

  • Experian: 377 – This client had a terrible Experian rating
  • Transunion: 347 – Nicholas had a terrible credit score with Transunion.
  • Equifax: Nicholas’s Experian score was 364, which is a terrible credit score using the Experian rating scheme.

Personal Loan for a radio & tv announcer named Nicholas in Rushford, Minnesota to Pay Off United Bank Visa

Nicholas had a lot of credit card debt on their Jeff Bank Visa Signature Bonus Rewards Card and their The Linux Foundation Visa Card, and they were starting to get in over their heads. Despite Nicholas’s job as a radio & tv announcer, they struggled to make payments on the $26,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Several other requests for credit have been made by Nicholas in the past, including one from Choctaw State Bank in Rushford, Minnesota before Nicholas was approved for the $54000 by Rushford State Bank (Incorporated)

Nicholas made 9 prior attempts to obtain a direct loan, 2 of which were with Choctaw State Bank, a lender in Rushford, Minnesota known to specialize in direct loans specifically. Before finding Rushford State Bank (Incorporated), Nicholas was very concerned due to their inexperience and terrible credit rating.

Nicholas’s Transunion score was changed by the direct loan loan, changing to 347 from 364, which is normal in our experience.

Transunion Score: 347

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

Normal debt consolidation loans range from $27,000.00 to $42,000.00. They are normally used to pay off existing high interest loans like credit cards. Nicholas needed a debt consolidation loan to pay for their existing direct loan and their payday loan. Nicholas was able to find a direct loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which converts your less desirable, high interest loans to one reduced interest loan. Debt consolidation loans generally have interest rates as low as 2.6%.

Before applying for this direct loan, Nicholas had an Experian score of 377, which is terrible, so Rushford State Bank (Incorporated) most likely cannot provide Nicholas a direct loan

Experian Score: 377

Paraphrased and Standardized Quote from Nicholas for this direct loan of $54000, provided by Rushford State Bank (Incorporated)

Hello, I am Nicholas and I am from Rushford in Minnesota. Fillmore, county is where I grew up, and now I need a direct loan in Minnesota for $54000 to renovate my home. It wasn’t easy, but Rushford State Bank (Incorporated) really came through for me with this loan for 6.5% interest APR and a term of 1 years. I can probably repay the loan over the 1 year term, including interest. A big thanks to Rushford State Bank (Incorporated) for giving me a chance and my terrible credit. It look me 4 years to build my credit to 364, and I won’t tarnish it any more. I’m happy with Find Texas Loans for helping me this far.

Fast Loans for Nicholas in Rushford, Minnesota to prevent bankruptcy or harm from debt collectors.

Fast loans in Rushford, Minnesota aren’t actually that difficult to obtain, especially if you have some gumption like Nicholas. Nicholas was able to find a fast loan for $54000 from Valley Bank Dundas and Lake Area Bank, but declined both offers in favor of their direct loan from Rushford State Bank (Incorporated). The difference with a fast loan over a installment loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 5 weeks for personal loans. An improvement if a client is in a time sensitive situation.

Nicholas’s Overall FICO score at the time of acceptance for a direct loan, taking into account their radio & tv announcer job and their future job as a cook

Fico Score: 364

When Nicholas was 18, they attempted to obtain a student loan from 7 different banks, which damaged their credit rating. Below is a chronology of Nicholas’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $33,000.00 on March 20, 2009
  • Attempt 2) Loan for $31,000.00 on October 18, 2008
  • Attempt 3) Loan for $29,000.00 on July 29, 2010
  • Attempt 4) Loan for $37,000.00 on April 2, 2013
  • Attempt 5) Loan for $20,000.00 on August 25, 2010
  • Attempt 6) Loan for $30,000.00 on February 15, 2012
  • Attempt 7) Loan for $37,000.00 on March 24, 2010

9 Months Ago, Nicholas Tried to Find a High Risk Loan for $37,000.00, and it was Easy

There is an well known struggle for borrowers to find high risk loans in a non-harmful manner. a lot of high risk loans end up coming from loan sharks or the like, which can be physically harmful to borrowers like Nicholas. Nicholas decided not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit individuals. Individuals with credit scores as low as 318 can apply for a high risk loan and have a chance to be approved.

Signature Loan acquired in Rushford, Minnesota for $54000 with terrible credit by Nicholas

A lot of borrowers have difficulty with obtaining signature loans in Rushford, Minnesota, and Nicholas is the same. Nicholas went to 7 lenders or more prior to settling on Rushford State Bank (Incorporated), who offered Nicholas a signature loan for $54000. Most signature loans simply need a client, like Nicholas’s signature to get them, up to $48,000 in some cases. Nicholas was able to get $54000 as a direct loan, which is very high for a direct loan. Because signature loans don’t require collateral, they generally need higher credit, as high as 797

Nicholas has a very low current total income, but has several of prospects

Nicholas has always wanted to be a cook, but would have to attend National Graduate School of Quality Management again to become one. Nicholas has other prospects as well, including surgical technician/technologist, insurance adjuster, and utility meter reader, which pay $51,000 through to $102,000 per year, at least. For this reason, we think that Nicholas can pay for this direct loan of $54000.

Contact Details for Rushford State Bank (Incorporated), the provider of this direct loan

  • Rushford State Bank (Incorporated)
  • City: Rushford
  • State: Minnesota
  • Address: 219 S. Mill Street
  • County: Fillmore
  • Zip code: 55971

Installment loan for Nicholas, a graduate of National Graduate School of Quality Management and a radio & tv announcer working for over $64,000 per year

Nicholas, an alumnus at National Graduate School of Quality Management and a radio & tv announcer in Rushford, Minnesota wants a direct loan to purchase a new cell phone. Nicholas has instead decided to get an installment loan for $15,000 and is currently seeking lenders like Atwater State Bank to provide it.

Nicholas was rejected by Root River State Bank 7 times prior to being approved by Rushford State Bank (Incorporated) at 219 S. Mill Street

On November 16, 2010, Nicholas inquired about borrowing $44,000 from Farmers and Merchants State Bank of Lamberton with Bertha, their in law from just outside Rushford, and even with the co-signer, Nicholas was rejected for this direct loan. With terrible credit, it can be challenging to procure financing, even with collateral and a co-signer.

Previous requests on Nicholas’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$123850.00 10 11.4% $1734.2 Marquette Bank Cannon Falls October 11, 2011
$123780.00 4 10.2% $3151.28 Root River State Bank April 23, 2012
$123710.00 10 8.5% $1533.83 Clinton State Bank June 4, 2013
$124320.00 4 6.8% $2965.48 Peoples State Bank of Plainview October 23, 2013
Client Profile: Nicholas Gentilcore of Rushford, Minnesota
  • Full name (Changed if requested): Nicholas Gentilcore
  • Current Credit: loans.hit.utils.Fico@37bba400
  • Current City: Rushford
  • State: Minnesota
  • Zip code: 55976
  • Yearly income: $32,000
  • Current Job: radio & tv announcer
  • Current County: Fillmore
  • Goal Yearly Income: $113,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $3000

Conclusion of Nicholas’s direct loan

In the end, Nicholas was able to find a direct loan for $54000 with an interest rate of 8.6% interest APR from Rushford State Bank (Incorporated) in Rushford, Minnesota repayable over 1 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.