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Gerald Wanted An Unsecured Loan For $62000, Grand Prairie, Texas

$62000 Unsecured Loan – Grand Prairie Texas, Credit Score Of 648

  • Experian: 667 – They had a good Experian rating
  • Transunion: 631 – Gerald had a good credit score with Transunion.
  • Equifax: Gerald’s Experian score was 648, which is a good credit rating on the Experian system.
Client Profile: Gerald Toppa of Grand Prairie, Texas
  • Full name (Changed if requested): Gerald Toppa
  • Current Credit: loans.hit.utils.Fico@5d099f62
  • Current City: Grand Prairie
  • State: Texas
  • Zip code: 75053
  • Yearly income: $39,000
  • Current Job: horticulturist
  • Current County: Dallas
  • Goal Yearly Income: $138,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $5000

Before applying for this unsecured loan, Gerald had an Experian score of 667, which is good, so Grand Bank of Texas probably cannot provide Gerald an unsecured loan

Experian Score: 667

Contact Details for Grand Bank of Texas, the provider of this unsecured loan

  • Grand Bank of Texas
  • City: Grand Prairie
  • State: Texas
  • Address: 2341 South Belt Line Road
  • County: Dallas
  • Zip code: 75051

Signature Loan acquired in Grand Prairie, Texas for $62000 with good credit by Gerald

A lot of clients struggle with obtaining signature loans in Grand Prairie, Texas, and Gerald is the same. Gerald went to 6 lenders or more before finding Grand Bank of Texas, who offered Gerald a signature loan for $62000. Typical signature loans simply require a client, like Gerald’s signature to obtain them, up to $21,000 in some cases. Gerald was able to get $62000 as a unsecured loan, which is very high for an unsecured loan. Since signature loans do not require collateral, these loans generally need improved credit, as high as 742

Gerald has a very low current gross income, but has a high number of prospects

Gerald has always wanted to be a solar energy systems designer, but would have to attend Paul D Camp Community College again to become one. Gerald has other prospects as well, including environmental technician, radiologist, and english language and literature professor, which pay $59,000 through to $94,000 per year, on average. Because of this, we think that Gerald can pay for this unsecured loan of $62000.

Paraphrased and Standardized Quote from Gerald for this unsecured loan of $62000, provided by Grand Bank of Texas

Hi, I am Gerald and I’m from Grand Prairie in Texas. Dallas, county is where I grew up, and now I need a unsecured loan in Texas for $62000 to buy a car. It wasn’t easy, but Grand Bank of Texas really came through for me with this loan for 6.4% interest APR and a term of 11 years. I can repay the loan over the 11 year term, including interest. A big thanks to Grand Bank of Texas for trusting me and my good credit. It look me 9 years to build my credit to 648, and I won’t tarnish it any more. I’m happy with Find Texas Loans for helping me this far.

Installment loan for Gerald, a graduate of Paul D Camp Community College and a horticulturist working for over $71,000 per year

Gerald, an alumnus at Paul D Camp Community College and a horticulturist in Grand Prairie, Texas needs an unsecured loan to purchase a new cell phone. Gerald has instead chosen to get an installment loan for $27,000 and is currently seeking lenders like First State Bank of Mathis to provide it.

Gerald was rejected by Silsbee State Bank 6 times before being granted funding by Grand Bank of Texas at 2341 South Belt Line Road

On May 10, 2010, Gerald inquired about borrowing $24,000 from First Star Bank, S.S.B. with Kip, their friend from just outside Grand Prairie, and even with the co-signer, Gerald was rejected for this unsecured loan. With good credit, it can be challenging to procure financing, even with collateral and a co-signer.

6 Months Ago, Gerald Attempted Finding a High Risk Loan for $29,000.00, and it was Hard

There is an ongoing struggle for borrowers to get high risk loans in a non-harmful way. Many high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Gerald. Gerald decided not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to bad credit borrowers. Individuals with credit ratings as low as 495 can inquire for a high risk loan and have a chance to be accepted.

Fast Loans for Gerald in Grand Prairie, Texas to prevent bankruptcy or harm from debt collectors.

Fast loans in Grand Prairie, Texas aren’t actually that difficult to obtain, particularly if you have some finesse like Gerald. Gerald was able to find a fast loan for $62000 from The Huntsville National Bank and First Bank & Trust of Clarendon, but declined both offers in favor of their unsecured loan from Grand Bank of Texas. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 7 weeks for debt consolidation loans. A big difference in the case that a borrower is on the go.

Previous requests on Gerald’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$129190.00 4 11.2% $3351.54 Comerica Bank March 12, 2013
$129280.00 10 7.3% $1521.12 First Star Bank, S.S.B. September 19, 2014
$128720.00 10 5.5% $1396.95 Brownfield State Bank & Trust Co. September 27, 2014
$129350.00 9 7.7% $1663.92 First Bank & Trust, Bryan, Texas March 3, 2015

When Gerald was 22, they tried to obtain a student loan from 7 alternate banks, which harmed their credit rating. Below is a chronology of Gerald’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $29,000.00 on December 4, 2011
  • Attempt 2) Loan for $34,000.00 on January 29, 2009
  • Attempt 3) Loan for $28,000.00 on April 20, 2012
  • Attempt 4) Loan for $29,000.00 on February 27, 2013
  • Attempt 5) Loan for $27,000.00 on November 3, 2013
  • Attempt 6) Loan for $35,000.00 on August 29, 2013
  • Attempt 7) Loan for $29,000.00 on March 23, 2009

Gerald’s Transunion score was changed by the unsecured loan loan, changing to 631 from 648, which is typical in our experience.

Transunion Score: 631

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

Normal debt consolidation loans vary from $27,000.00 to $50,000.00. They are typically used to pay off existing high interest loans like credit cards. Gerald required a debt consolidation loan to pay for their existing unsecured loan and their payday loan. Gerald was able to find a unsecured loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which changes your less desirable, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 2.7%.

Several past requests for credit have been made by Gerald in the past, including one from Orange Community Bank in Grand Prairie, Texas before Gerald was accepted for the $62000 by Grand Bank of Texas

Gerald made 6 previous tries to obtain an unsecured loan, 2 of which were with Orange Community Bank, a lending institution in Grand Prairie, Texas known to specialize in unsecured loans specifically. Prior to finding Grand Bank of Texas, Gerald was concerned due to their inexperience and good credit score.

Gerald’s Overall FICO score at the time of acceptance for an unsecured loan, taking into account their horticulturist job and their future career as a solar energy systems designer

Fico Score: 648

Personal Loan for a horticulturist named Gerald in Grand Prairie, Texas to Pay Off Conestoga Bank Secured Visa Card

Gerald had a tonne of credit card debt on their Asiana Visa Business Card and their Budweiser Specialty Rewards Visa Platinum Card, and they were starting to get in over their heads. Despite Gerald’s job as a horticulturist, they struggled to make payments on the $23,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Conclusion of Gerald’s unsecured loan

In the end, Gerald was able to find an unsecured loan for $62000 with an interest rate of 5.0% interest APR from Grand Bank of Texas in Grand Prairie, Texas repayable over 11 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.