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Jordan Needed A Secured Loan For $21000, Los Angeles, California

$21000 Secured Loan – Los Angeles California, Credit Rating Of 349

  • Experian: 366 – The client had a terrible Experian score
  • Transunion: 332 – Jordan had a terrible credit score with Transunion.
  • Equifax: Jordan’s Experian score was 349, which is a terrible credit rating on the Experian rating scheme.

Paraphrased and Standardized Quote from Jordan for this secured loan of $21000, provided by The Mitsui Bank of California

Hi, I am Jordan and my hometown is Los Angeles in California. Los Angeles, county is where I grew up, and now I need a secured loan in California for $21000 to renovate my home. It wasn’t easy, but The Mitsui Bank of California really came through for me with this loan for 6.1% interest APR and a term of 2 years. I can repay the loan over the 2 year term, including interest. A big thanks to The Mitsui Bank of California for giving me a chance and my terrible credit. It look me 8 years to create my credit to 349, and I won’t tarnish it any future. I’m pleased with Find Texas Loans for helping me this far.

Personal Loan for a sales representative named Jordan in Los Angeles, California to Pay Off Fulton Bank Visa Platinum Card

Jordan had a lot of credit card debt on their Mack MasterCard and their Home Grown Values Platinum Visa Card, and they were starting to get in over their heads. Despite Jordan’s job as a sales representative, they struggled to make payments on the $25,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Previous requests on Jordan’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$23690.00 7 11.2% $408.13 Santa Monica Bank May 4, 2010
$24360.00 4 9.1% $607.36 Farmers and Merchants Bank of Long Beach December 14, 2011
$24110.00 3 7.5% $749.97 First Interstate Bank of California September 6, 2014
$24340.00 5 11.8% $538.97 Union Bank May 18, 2015
$23770.00 6 11.4% $457.32 Citizens Commercial Trust and Savings Bank of Pasadena June 16, 2015

Fast Loans for Jordan in Los Angeles, California to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Los Angeles, California aren’t actually that difficult to obtain, especially if you have some finesse like Jordan. Jordan was able to find a fast loan for $21000 from Citizens Bank of Roseville and San Diego Trust & Savings Bank, but declined both offers in favor of their secured loan from The Mitsui Bank of California. The improvement with a fast loan over a installment loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 7 weeks for personal loans. A big improvement in the case that you are in a time sensitive situation.

Before applying for this secured loan, Jordan had an Experian score of 366, which is terrible, so The Mitsui Bank of California most likely cannot provide Jordan a secured loan

Experian Score: 366

7 Months in the Past, Jordan Tried to Find a High Risk Loan for $32,000.00, but They Didn’t Find What They were Expecting

There is an existing struggle for borrowers to find high risk loans in a safe way. Many high risk loans end up coming from loan sharks or the like, which can be frightening to borrowers like Jordan. Jordan chose not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit applicants. Individuals with credit scores as low as 300 can apply for a high risk loan and have a chance to be accepted.

When Jordan was 24, they tried to obtain a student loan from 5 different banks, which harmed their credit score. Below is a chronology of Jordan’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $31,000.00 on April 2, 2014
  • Attempt 2) Loan for $36,000.00 on January 10, 2014
  • Attempt 3) Loan for $25,000.00 on August 3, 2011
  • Attempt 4) Loan for $23,000.00 on January 23, 2013
  • Attempt 5) Loan for $24,000.00 on April 10, 2012

Jordan’s Transunion score was changed by the secured loan loan, changing to 332 from 349, which is normal in our experience.

Transunion Score: 332

Signature Loan acquired in Los Angeles, California for $21000 with terrible credit by Jordan

A lot of prospective borrowers struggle with finding signature loans in Los Angeles, California, and Jordan is the same. Jordan went to 5 lending institutions or more prior to settling on The Mitsui Bank of California, who offered Jordan a signature loan for $21000. Most signature loans simply need a client, like Jordan’s signature to get them, up to $48,000 in some cases. Jordan was able to get $21000 as a secured loan, which is very high for a secured loan. Because signature loans do not require a cosigner, these loans tend to require better credit, as high as 721

Many other requests for credit have been made by Jordan in the past, including one from First National Bank of Niceville in Los Angeles, California before Jordan was accepted for the $21000 by The Mitsui Bank of California

Jordan made 8 previous attempts to obtain a secured loan, 2 of which were with First National Bank of Niceville, a lending institution in Los Angeles, California known to specialize in secured loans specifically. Before finding The Mitsui Bank of California, Jordan was desperate due to their inexperience and terrible credit rating.

Client Profile: Jordan Emmrich of Los Angeles, California
  • Full name (Changed if requested): Jordan Emmrich
  • Current Credit: loans.hit.utils.Fico@3d494fbf
  • Current City: Los Angeles
  • State: California
  • Zip code: 90022
  • Yearly income: $51,000
  • Current Job: sales representative
  • Current County: Los Angeles
  • Goal Yearly Income: $130,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $9000

Jordan has a very low current total income, but has a high number of prospects

Jordan has always wanted to be a correspondence clerk, but would need attend Orlando Technical Center again to become one. Jordan has other possibilities as well, including aircraft launch and recovery specialist, excavating supervisor, and mathematical technician, which pay $52,000 through to $99,000 per year, at least. Because of this, we believe that Jordan can pay for this secured loan of $21000.

Debt Consolidation Can Help Any Highly Indebted Borrower to Escape Bad Debts like Loan Sharks

Normal debt consolidation loans vary from $24,000.00 to $59,000.00. They are typically used to pay off existing high interest loans like credit cards. Jordan required a debt consolidation loan to pay for their existing secured loan and their payday loan. Jordan was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a technique in the debt snowball method which converts your dirty, catastrophically high interest loans to a single reduced interest loan. Debt consolidation loans usually have interest rates as low as 2.5%.

Installment loan for Jordan, a graduate of Orlando Technical Center and a sales representative working for over $73,000 per year

Jordan, an alumnus at Orlando Technical Center and a sales representative in Los Angeles, California wants a secured loan to purchase a house. Jordan has instead decided to get an installment loan for $28,000 and is currently seeking lenders like Mechanics Bank to process their request.

Jordan was not approved by U.S. Bank of California 7 times prior to being accepted by The Mitsui Bank of California at 333 South Flower Street

On January 16, 2010, Jordan applied about borrowing $43,000 from Bank of Stockton with Qiana, their friend from just outside Los Angeles, and even with the co-signer, Jordan was rejected for this secured loan. With terrible credit, it can be difficult to obtain funding, even with collateral and a co-signer.

Jordan’s Overall FICO score at the time of acceptance for a secured loan, taking into account their sales representative job and their future career as a correspondence clerk

Fico Score: 349

Contact Details for The Mitsui Bank of California, the provider of this secured loan

  • The Mitsui Bank of California
  • City: Los Angeles
  • State: California
  • Address: 333 South Flower Street
  • County: Los Angeles
  • Zip code: 90017

Conclusion of Jordan’s secured loan

In the end, Jordan was able to find a secured loan for $21000 with an interest rate of 6.5% interest APR from The Mitsui Bank of California in Los Angeles, California repayable over 2 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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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.