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High Risk Loan Of $28000 For Bad Credit New Jersey Resident

$28000 High Risk Loan – Newark New Jersey, Credit Score Of 498

  • Experian: 508 – This client had a bad Experian score
  • Transunion: 483 – Lavonda had a bad credit score with Transunion.
  • Equifax: Lavonda’s Experian score was 498, which is a bad credit score using the Experian system.

When Lavonda was 20, they attempted to obtain a student loan from 4 different lenders, which harmed their credit rating. Below is a chronology of Lavonda’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $34,000.00 on June 24, 2009
  • Attempt 2) Loan for $21,000.00 on November 20, 2008
  • Attempt 3) Loan for $20,000.00 on September 26, 2009
  • Attempt 4) Loan for $28,000.00 on February 22, 2013

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

Most debt consolidation loans range from $28,000.00 to $51,000.00. They are mainly used to pay off existing high interest loans like credit cards. Lavonda required a debt consolidation loan to pay for their existing high risk loan and their credit card. Lavonda was able to find a high risk loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which transfers your less desirable, catastrophically high interest loans to a single reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 3.6%.

Fast Loans for Lavonda in Newark, New Jersey to prevent bankruptcy or harm from debt collectors.

Fast loans in Newark, New Jersey aren’t actually that difficult to obtain, especially if you have some finesse like Lavonda. Lavonda was able to find a fast loan for $28000 from Chemical Bank New Jersey, National Association and Somerset Hills & County National Bank, but turned down both offers in favor of their high risk loan from Fidelity Union Bank, National Association. The improvement with a fast loan over a personal loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 6 weeks for debt consolidation loans. An improvement if you are in a pinch.

Lavonda was rejected by United Jersey Bank/Northwest 4 times prior to being accepted by Fidelity Union Bank, National Association at 765 Broad Street

On October 21, 2009, Lavonda applied about borrowing $28,000 from Suburban Trust Company with Deann, their in law from just outside Newark, and even with the co-signer, Lavonda was rejected for this high risk loan. With bad credit, it can be difficult to procure funding, even with collateral and a co-signer.

Before applying for this high risk loan, Lavonda had an Experian score of 508, which is bad, so Fidelity Union Bank, National Association likely cannot provide Lavonda a high risk loan

Experian Score: 508

Previous requests on Lavonda’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$137660.00 11 10.6% $1770.55 The State Bank of North Jersey October 3, 2011
$138280.00 3 9.1% $4403.71 Carteret Bank and Trust Company December 12, 2013
$138450.00 6 9.8% $2550.96 United Jersey Bank/Northwest February 11, 2014
$137590.00 7 11.8% $2414.15 People’s Trust Company October 30, 2014

Lavonda has a disappointing current total income, but has a large amount of prospects

Lavonda has always wanted to be a textile designer, but would have to attend Minnesota State Community and Technical College again to become one. Lavonda has other prospects as well, including motion picture projectionist, control center specialist, and mining shovel machine operator, which pay $52,000 through to $106,000 per year, at least. For this reason, we think that Lavonda can afford this high risk loan of $28000.

Signature Loan found in Newark, New Jersey for $28000 with bad credit by Lavonda

Many clients have difficulty with obtaining signature loans in Newark, New Jersey, and Lavonda is not an exception. Lavonda went to 7 lenders or more prior to finding Fidelity Union Bank, National Association, who offered Lavonda a signature loan for $28000. Typical signature loans simply require a client, like Lavonda’s signature to get them, up to $30,000 in some cases. Lavonda was able to get $28000 as a high risk loan, which is very high for a high risk loan. Because signature loans don’t need collateral, they generally need higher credit, as high as 700

Client Profile: Lavonda Decoud of Newark, New Jersey
  • Full name (Changed if requested): Lavonda Decoud
  • Current Credit: loans.hit.utils.Fico@37a71e93
  • Current City: Newark
  • State: New Jersey
  • Zip code: 7107
  • Yearly income: $68,000
  • Current Job: sales representative
  • Current County: Essex
  • Goal Yearly Income: $106,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000

6 Months Ago, Lavonda Attempted Finding a High Risk Loan for $38,000.00, and it was Hard

It is an ongoing struggle for clients to get 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 frightening to borrowers like Lavonda. Lavonda chose not to obtain a high risk loan this time. High Risk loans are given to terrible credit individuals. Clients with credit scores as low as 488 can inquire for a high risk loan and may be be approved.

Installment loan for Lavonda, a graduate of Minnesota State Community and Technical College and a sales representative working for over $71,000 per year

Lavonda, an alumnus at Minnesota State Community and Technical College and a sales representative in Newark, New Jersey needs a high risk loan to purchase a car. Lavonda has instead decided to get an installment loan for $21,000 and is currently seeking lenders like Chemical Bank New Jersey, National Association to process their request.

Paraphrased and Standardized Quote from Lavonda for this high risk loan of $28000, provided by Fidelity Union Bank, National Association

Hi, I am Lavonda and I’m from Newark in New Jersey. Essex, county is where I grew up, and now I need a high risk loan in New Jersey for $28000 to buy a car. It has been difficult, but Fidelity Union Bank, National Association really came through for me with this loan for 8.5% interest APR and a term of 5 years. I can probably repay the loan over the 5 year term, including interest. A big thanks to Fidelity Union Bank, National Association for giving me a chance and my bad credit. It look me 4 years to build my credit to 498, and I won’t tarnish it any future. I am happy with Find Texas Loans for helping me this far.

Lavonda’s Overall FICO score at the time of acceptance for a high risk loan, taking into account their sales representative job and their future career as a textile designer

Fico Score: 498

Personal Loan for a sales representative named Lavonda in Newark, New Jersey to Pay Off Lanpass Visa Card

Lavonda had a lot of credit card debt on their RBC Business Cash Back MasterCard and their America’s First FCU Visa Platinum, and they were starting to get in over their heads. Despite Lavonda’s job as a sales representative, they struggled to make payments on the $21,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Lavonda’s Transunion score was altered by the high risk loan loan, changing to 483 from 498, which is typical in our experience.

Transunion Score: 483

Contact Details for Fidelity Union Bank, National Association, the provider of this high risk loan

  • Fidelity Union Bank, National Association
  • City: Newark
  • State: New Jersey
  • Address: 765 Broad Street
  • County: Essex
  • Zip code: 7101

Several previous requests for credit have been made by Lavonda in the past, including one from Texas Commerce Bank National Association in Newark, New Jersey before Lavonda was accepted for the $28000 by Fidelity Union Bank, National Association

Lavonda made 9 previous attempts to obtain a high risk loan, 2 of which were with Texas Commerce Bank National Association, a bank in Newark, New Jersey known to specialize in high risk loans specifically. Before finding Fidelity Union Bank, National Association, Lavonda was concerned due to their inexperience and bad credit rating.

Conclusion of Lavonda’s high risk loan

In the end, Lavonda was able to find a high risk loan for $28000 with an interest rate of 6.7% interest APR from Fidelity Union Bank, National Association in Newark, New Jersey repayable over 5 years from today.

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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