$168000 Secured Loan – Walker Michigan, Credit Rating Of 479
- Experian: 492 – They had a bad Experian rating
- Transunion: 461 – Ferdinand had a bad credit rating with Transunion.
- Equifax: Ferdinand’s Experian score was 479, which is a bad credit score with the Experian system.
7 Months in the Past, Ferdinand Attempted to Find a High Risk Loan for $22,000.00, but They Didn’t Find What They were Expecting
There is an ongoing struggle for borrowers to find high risk loans in a non-harmful manner. Many high risk loans end up originating loan sharks or similar lenders, which can be frightening to borrowers like Ferdinand. Ferdinand chose not to get a high risk loan this time. High Risk loans are generally given by lenders to bad credit borrowers. Clients with credit ratings as low as 423 can apply for a high risk loan and possibly can be approved.
Ferdinand was declined by Michigan National Bank-Michiana 5 times before being approved by Chemical Bank West at 2185 Three Mile Road, N.W.
On July 11, 2009, Ferdinand applied about borrowing $34,000 from Citizens Bank with Novella, their in law from just outside Walker, and even with the co-signer, Ferdinand was rejected for this secured loan. With bad credit, it can be very hard to procure funding, even with collateral and a co-signer.
Debt Consolidation Can Assist Most Highly Indebted Borrower to Escape Bad Debts like Credit Card Debt
Normal debt consolidation loans vary from $39,000.00 to $52,000.00. They are mainly used to pay off existing high interest loans like credit cards. Ferdinand needed a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Ferdinand was able to find a secured loan in the end. Debt consolidation, or simply consolidation, is a technique in the strategic borrowing method which transfers your less desirable, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates that are low, like 4.5%.
Signature Loan easily acquired in Walker, Michigan for $168000 with bad credit by Ferdinand
A lot of prospective borrowers struggle with obtaining signature loans in Walker, Michigan, and Ferdinand is no exception. Ferdinand went to 4 lending institutions or more prior to settling on Chemical Bank West, who offered Ferdinand a signature loan for $168000. Typical signature loans simply require a client, like Ferdinand’s signature to obtain them, up to $46,000 in some cases. Ferdinand was able to get $168000 as a secured loan, which is very high for a secured loan. Since signature loans don’t need a cosigner, they tend to require higher credit, as high as 760
Ferdinand has a low current total income, but has several of prospects
Ferdinand has always wanted to be a referee / umpire, but would have to attend Alpena Community College again to become one. Ferdinand has other possibilities as well, including outdoor education teacher, paste-up worker, and file clerk, which pay $56,000 through to $105,000 per year, at least. For this reason, we believe that Ferdinand can afford this secured loan of $168000.
Before applying for this secured loan, Ferdinand had an Experian score of 492, which is bad, so Chemical Bank West most likely can provide Ferdinand a secured loan
Ferdinand’s Overall FICO score at the time of acceptance for a secured loan, taking into account their solid waste disposal administrator job and their future career as a referee / umpire
Installment loan for Ferdinand, a graduate of Alpena Community College and a solid waste disposal administrator working for over $75,000 per year
Ferdinand, an alumnus at Alpena Community College and a solid waste disposal administrator in Walker, Michigan needs a secured loan to purchase a car. Ferdinand has instead decided to get an installment loan for $5,000 and is at present seeking lenders like NBD Ann Arbor, National Association to process their request.
- Full name (Changed if requested): Ferdinand Shamsi
- Current Credit: loans.hit.utils.Fico@50040f0c
- Current City: Walker
- State: Michigan
- Zip code: 49545
- Yearly income: $41,000
- Current Job: solid waste disposal administrator
- Current County: Kent
- Goal Yearly Income: $89,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000
Contact Details for Chemical Bank West, the provider of this secured loan
- Chemical Bank West
- City: Walker
- State: Michigan
- Address: 2185 Three Mile Road, N.W.
- County: Kent
- Zip code: 49544
Previous requests on Ferdinand’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$23440.00||5||11.7%||$517.86||Society Bank, Lenawee||October 27, 2012|
|$23110.00||3||10.2%||$747.87||Bank of Lenawee||August 30, 2014|
|$23100.00||10||9.2%||$295.13||First of America Bank – Alpena||October 17, 2014|
|$22610.00||9||6.3%||$274.82||NBD Ann Arbor, National Association||November 11, 2014|
|$23240.00||10||8.1%||$283.19||First of America Bank – Mid Michigan, National Association||April 3, 2015|
Personal Loan for a solid waste disposal administrator named Ferdinand in Walker, Michigan to Pay Off DCU Visa Platinum Rewards Credit Card
Ferdinand had a lot of credit card debt on their Members 1st FCU Visa Platinum Select Credit Card and their The Lincoln Highway Association Visa Card, and they were starting to get in over their heads. Despite Ferdinand’s job as a solid waste disposal administrator, they struggled to make payments on the $26,000.00 credit card balance, desperately needing assistance in the form of a personal loan.
Many past requests for credit have been made by Ferdinand in the past, including one from KleinBank in Walker, Michigan before Ferdinand was approved for the $168000 by Chemical Bank West
Ferdinand made 6 previous tries to obtain a secured loan, 2 of which were with KleinBank, a lender in Walker, Michigan known to specialize in secured loans specifically. Before finding Chemical Bank West, Ferdinand was very concerned due to their inexperience and bad credit rating.
When Ferdinand was 22, they attempted to obtain a student loan from 4 alternate banks, which damaged their credit rating. Below is a chronology of Ferdinand’s previous attempts at finding a student loan:
- Attempt 1) Loan for $27,000.00 on November 7, 2011
- Attempt 2) Loan for $26,000.00 on November 22, 2012
- Attempt 3) Loan for $26,000.00 on September 3, 2009
- Attempt 4) Loan for $23,000.00 on June 8, 2010
Fast Loans for Ferdinand in Walker, Michigan to prevent bankruptcy or bodily harm from debt collectors.
Fast loans in Walker, Michigan aren’t actually that difficult to obtain, especially if you have some finesse like Ferdinand. Ferdinand was able to find a fast loan for $168000 from First of America Bank – Frankenmuth and First of America Bank – Frankenmuth, but declined both offers in favor of their secured loan from Chemical Bank West. 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 7 weeks for debt consolidation loans. An improvement in the case that a client is in a pinch.
Ferdinand’s Transunion score was changed by the secured loan loan, changing to 461 from 479, which is normal in our experience.
Paraphrased and Standardized Quote from Ferdinand for this secured loan of $168000, provided by Chemical Bank West
Hi, I am Ferdinand and I am from Walker in Michigan. Kent, county is where I grew up, and now I need a secured loan in Michigan for $168000 to pay bills. It has been difficult, but Chemical Bank West really came through for me with this loan for 5.3% interest APR and a term of 15 years. I can probably repay the loan over the 15 year term, including interest. A big thanks to Chemical Bank West for giving me a chance and my bad credit. It look me 8 years to build my credit to 479, and I won’t tarnish it any future. I am happy with Find Texas Loans for helping me this far.
Conclusion of Ferdinand’s secured loan
In the end, Ferdinand was able to find a secured loan for $168000 with an interest rate of 11.2% interest APR from Chemical Bank West in Walker, Michigan repayable over 15 years from now.