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Low Rate Debt Consolidation Loan For Tom In Houston, Texas

$88000 Debt Consolidation Loan – Houston Texas, Credit Score Of 827

  • Experian: 843 – They had an excellent Experian rating
  • Transunion: 813 – Tom had an excellent credit rating with Transunion.
  • Equifax: Tom’s Experian score was 827, which is an excellent credit score with the Experian scale.

Tom’s Transunion score was changed by the debt consolidation loan loan, changing to 813 from 827, which is normal in our experience.

Transunion Score: 813

Signature Loan easily acquired in Houston, Texas for $88000 with excellent credit by Tom

A lot of borrowers struggle with finding signature loans in Houston, Texas, and Tom is no different. Tom went to 4 lending institutions or more prior to settling on MBank Memorial, National Association, who offered Tom a signature loan for $88000. Typical signature loans simply need a client, like Tom’s signature to obtain them, up to $43,000 in some cases. Tom was able to get $88000 as a debt consolidation loan, which is very high for a debt consolidation loan. Because signature loans don’t require collateral, these loans tend to require better credit, as high as 700

Contact Details for MBank Memorial, National Association, the provider of this debt consolidation loan

  • MBank Memorial, National Association
  • City: Houston
  • State: Texas
  • Address: 877 North Dairy Ashford Road
  • County: Harris
  • Zip code: 77024

Multiple other requests for credit have been made by Tom in the past, including one from Central Bank of Walker County in Houston, Texas before Tom was approved for the $88000 by MBank Memorial, National Association

Tom made 6 prior attempts to obtain a debt consolidation loan, 2 of which were with Central Bank of Walker County, a lending institution in Houston, Texas known to specialize in debt consolidation loans specifically. Prior to finding MBank Memorial, National Association, Tom was very concerned due to their inexperience and excellent credit rating.

Before applying for this debt consolidation loan, Tom had an Experian score of 843, which is excellent, so MBank Memorial, National Association likely cannot provide Tom a debt consolidation loan

Experian Score: 843

Installment loan for Tom, a graduate of Moody Bible Institute and a marine architect working for over $74,000 per year

Tom, an alumnus at Moody Bible Institute and a marine architect in Houston, Texas wants a debt consolidation loan to purchase a house. Tom has instead decided to get an installment loan for $21,000 and is at present seeking lenders like Eden State Bank to process their request.

Tom was rejected by Arrowhead Bank 6 times prior to being accepted by MBank Memorial, National Association at 877 North Dairy Ashford Road

On May 19, 2009, Tom applied about borrowing $41,000 from Guaranty Bank & Trust Company with Tandra, their in law from just outside Houston, and even with the co-signer, Tom was rejected for this debt consolidation loan. With excellent credit, it can be a challenge to procure financing, even with collateral and a co-signer.

Client Profile: Tom Redle of Houston, Texas
  • Full name (Changed if requested): Tom Redle
  • Current Credit: loans.hit.utils.Fico@254989ff
  • Current City: Houston
  • State: Texas
  • Zip code: 77031
  • Yearly income: $58,000
  • Current Job: marine architect
  • Current County: Harris
  • Goal Yearly Income: $89,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $2000

Debt Consolidation Can Assist Most Highly Indebted Borrower to Escape Bad Debts like Payday Loans

Normal debt consolidation loans range from $38,000.00 to $53,000.00. They are normally used to pay off existing high interest loans like credit cards. Tom required a debt consolidation loan to pay for their existing debt consolidation loan and their payday loan. Tom was able to find a debt consolidation loan in the end. Debt consolidation, or just consolidation, is a technique in the debt snowball method which transfers your bad, high interest loans to a single reduced interest loan. Debt consolidation loans generally have interest rates as low as 4.5%.

Fast Loans for Tom in Houston, Texas to prevent bankruptcy or harm from debt collectors.

Fast loans in Houston, Texas aren’t actually that difficult to obtain, especially if you have some gumption like Tom. Tom was able to find a fast loan for $88000 from Farmers State Bank of Madisonville, Texas and Brownfield State Bank & Trust Co., but declined both offers in favor of their debt consolidation loan from MBank Memorial, National Association. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 7 weeks for installment loans. An improvement in the case that a client is on the go.

Tom’s Overall FICO score at the time of acceptance for a debt consolidation loan, taking into account their marine architect job and their future job as a veterinary assistant

Fico Score: 827

Personal Loan for a marine architect named Tom in Houston, Texas to Pay Off Fifth Third Bank Visa Signature Rewards Card

Tom had a lot of credit card debt on their Ashley Furniture HomeStore Credit Card and their Wayne Bank Credit Cards, and they were starting to get in over their heads. Despite Tom’s job as a marine architect, they struggled to make payments on the $25,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Paraphrased and Standardized Quote from Tom for this debt consolidation loan of $88000, provided by MBank Memorial, National Association

Hi, I am Tom and I’m from Houston in Texas. Harris, county is where I grew up, and now I need a debt consolidation loan in Texas for $88000 to buy a car. It wasn’t easy, but MBank Memorial, National Association really came through for me with this loan for 6.2% interest APR and a term of 4 years. I can probably repay the loan over the 4 year term, including interest. A big thanks to MBank Memorial, National Association for giving me a chance and my excellent credit. It look me 7 years to build my credit to 827, and I won’t harm it any more. I’m pleased with Find Texas Loans for helping me this far.

Tom has a sad current total income, but has a large amount of prospects

Tom has always wanted to be a veterinary assistant, but would need attend Moody Bible Institute again to become one. Tom has other prospects as well, including musical instrument tuner, school psychologist, and book editor, which pay $53,000 through to $93,000 per year, at least. For this reason, we think that Tom can afford this debt consolidation loan of $88000.

Previous requests on Tom’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$116370.00 10 6.1% $1297.8 Comerica Bank February 16, 2013
$116280.00 9 9.2% $1587.12 First Star Bank, S.S.B. July 31, 2013
$115820.00 4 5.6% $2698.85 Brownfield State Bank & Trust Co. May 26, 2014
$115870.00 5 9.6% $2439.15 First Bank & Trust, Bryan, Texas August 11, 2014

6 Months in the Past, Tom Attempted Finding a High Risk Loan for $43,000.00, 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 coming from loan sharks or the like, which can be frightening to borrowers like Tom. Tom chose not to obtain a high risk loan this time. High Risk loans are given to very low credit borrowers. Borrowers with credit scores as low as 371 can inquire for a high risk loan and possibly can be accepted.

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

  • Attempt 1) Loan for $35,000.00 on May 21, 2010
  • Attempt 2) Loan for $35,000.00 on December 12, 2013
  • Attempt 3) Loan for $39,000.00 on November 30, 2009
  • Attempt 4) Loan for $28,000.00 on October 13, 2010
  • Attempt 5) Loan for $24,000.00 on March 31, 2009

Conclusion of Tom’s debt consolidation loan

In the end, Tom was able to find a debt consolidation loan for $88000 with an interest rate of 8.0% interest APR from MBank Memorial, National Association in Houston, Texas repayable over 4 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.