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Low Rate High Risk Loan For Vernita In Winnsboro, South Carolina

$86000 High Risk Loan – Winnsboro South Carolina, Credit Rating Of 712

  • Experian: 729 – The client had a good Experian rating
  • Transunion: 696 – Vernita had a good credit score with Transunion.
  • Equifax: Vernita’s Experian score was 712, which is a good credit score on the Experian scale.
Client Profile: Vernita Cady of Winnsboro, South Carolina
  • Full name (Changed if requested): Vernita Cady
  • Current Credit: loans.hit.utils.Fico@179d3b25
  • Current City: Winnsboro
  • State: South Carolina
  • Zip code: 29186
  • Yearly income: $47,000
  • Current Job: forest fire prevention supervisor
  • Current County: Fairfield
  • Goal Yearly Income: $124,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000

Fast Loans for Vernita in Winnsboro, South Carolina to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Winnsboro, South Carolina aren’t actually that difficult to obtain, particularly if you have some finesse like Vernita. Vernita was able to find a fast loan for $86000 from Bank of Ridgeway and Bank of Ridgeland, but turned down both offers in favor of their high risk loan from Merchants & Planters Bank. 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 7 weeks for personal loans. Much better if a borrower is in a pinch.

Before applying for this high risk loan, Vernita had an Experian score of 729, which is good, so Merchants & Planters Bank most likely cannot provide Vernita a high risk loan

Experian Score: 729

Previous requests on Vernita’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$62750.00 9 7.1% $787.95 The Peoples Bank March 27, 2011
$62740.00 5 7.5% $1257.18 The Commercial Bank November 5, 2012
$62750.00 11 9.6% $771.49 The Bank of Hartsville March 28, 2014
$63200.00 9 7.2% $796.81 Farmers and Merchants Bank of South Carolina May 8, 2014

9 Months in the Past, Vernita Tried Finding a High Risk Loan for $20,000.00, and it was Hard

It is an well known struggle for borrowers to get high risk loans in a safe manner. a lot of high risk loans end up originating loan sharks or similar lenders, which can be frightening to borrowers like Vernita. Vernita decided not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit clients. Individuals with credit scores as low as 489 can inquire for a high risk loan and have a chance to be accepted.

Vernita’s Overall FICO score at the time of acceptance for a high risk loan, taking into account their forest fire prevention supervisor job and their future career as a home health technician

Fico Score: 712

Vernita was not approved by The Community Bank of South Carolina 4 times before being approved by Merchants & Planters Bank at Main Street

On July 29, 2010, Vernita inquired about borrowing $26,000 from The First National Bank of Sharon with Grazyna, their friend from just outside Winnsboro, and even with the co-signer, Vernita was rejected for this high risk loan. With good credit, it can be challenging to procure financing, even with collateral and a co-signer.

Paraphrased and Standardized Quote from Vernita for this high risk loan of $86000, provided by Merchants & Planters Bank

Hi, I am Vernita and I’m from Winnsboro in South Carolina. Fairfield, county is where I grew up, and now I need a high risk loan in South Carolina for $86000 to buy a big ticket item. It wasn’t easy, but Merchants & Planters Bank really came through for me with this loan for 9.2% interest APR and a term of 21 years. I can repay the loan over the 21 year term, including interest. A big thanks to Merchants & Planters Bank for giving me a chance and my good credit. It look me 7 years to create my credit to 712, and I won’t harm it any future. I am happy with Find Texas Loans for helping me this far.

Contact Details for Merchants & Planters Bank, the provider of this high risk loan

  • Merchants & Planters Bank
  • City: Winnsboro
  • State: South Carolina
  • Address: Main Street
  • County: Fairfield
  • Zip code: 29180

Signature Loan easily acquired in Winnsboro, South Carolina for $86000 with good credit by Vernita

Most clients have difficulty with finding signature loans in Winnsboro, South Carolina, and Vernita is not an exception. Vernita went to 5 lending institutions or more before finding Merchants & Planters Bank, who offered Vernita a signature loan for $86000. Most signature loans simply need a client, like Vernita’s signature to obtain them, up to $44,000 in some cases. Vernita was able to get $86000 as a high risk loan, which is very high for a high risk loan. Since signature loans do not need collateral, these loans generally require better credit, as high as 785

Installment loan for Vernita, a graduate of George Washington University and a forest fire prevention supervisor working for over $75,000 per year

Vernita, an alumnus at George Washington University and a forest fire prevention supervisor in Winnsboro, South Carolina wants a high risk loan to purchase a new cell phone. Vernita has instead chosen to get an installment loan for $22,000 and is at present seeking lenders like The National Bank of South Carolina to provide it.

Personal Loan for a forest fire prevention supervisor named Vernita in Winnsboro, South Carolina to Pay Off First National Bank Omaha BucksBack Platinum Edition Visa Card

Vernita had a lot of credit card debt on their Golden Plains Credit Union Visa Golden Rewards and their Alaska Airlines Visa Platinum Plus Card, and they were starting to get in over their heads. Despite Vernita’s job as a forest fire prevention supervisor, they struggled to make payments on the $25,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Debt Consolidation Will Help Most Highly Indebted Borrower to Escape Bad Debts like Loan Sharks

Most debt consolidation loans range from $27,000.00 to $45,000.00. They are typically used to pay off existing high interest loans like credit cards. Vernita required a debt consolidation loan to pay for their existing high risk loan and their credit card. Vernita was able to find a high risk loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which converts your less desirable, high interest loans to one lower interest loan. Debt consolidation loans usually have interest rates as low as 3.3%.

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

Vernita has always wanted to be a home health technician, but would need attend George Washington University again to become one. Vernita has other possibilities as well, including cook, county or city auditor, and computer software technician, which pay $59,000 through to $104,000 per year, at least. For this reason, we believe that Vernita can pay for this high risk loan of $86000.

Vernita’s Transunion score was altered by the high risk loan loan, changing to 696 from 712, which is typical in our experience.

Transunion Score: 696

Many other requests for credit have been made by Vernita in the past, including one from The Capital Bank in Winnsboro, South Carolina before Vernita was accepted for the $86000 by Merchants & Planters Bank

Vernita made 8 previous attempts to obtain a high risk loan, 2 of which were with The Capital Bank, a lending institution in Winnsboro, South Carolina known to specialize in high risk loans specifically. Prior to finding Merchants & Planters Bank, Vernita was very concerned due to their inexperience and good credit score.

When Vernita was 18, they tried to obtain a student loan from 5 alternate banks, which damaged their credit rating. Below is a chronology of Vernita’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $38,000.00 on December 5, 2010
  • Attempt 2) Loan for $31,000.00 on January 16, 2009
  • Attempt 3) Loan for $22,000.00 on January 28, 2013
  • Attempt 4) Loan for $39,000.00 on December 24, 2008
  • Attempt 5) Loan for $38,000.00 on April 23, 2013

Conclusion of Vernita’s high risk loan

In the end, Vernita was able to find a high risk loan for $86000 with an interest rate of 11.8% interest APR from Merchants & Planters Bank in Winnsboro, South Carolina repayable over 21 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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