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Low Rate High Risk Loan For Walter In Little Rock, Arkansas

$45000 High Risk Loan – Little Rock Arkansas, Credit Rating Of 398

  • Experian: 416 – The client had a terrible Experian rating
  • Transunion: 386 – Walter had a terrible credit rating with Transunion.
  • Equifax: Walter’s Experian score was 398, which is a terrible credit rating with the Experian rating scheme.

Fast Loans for Walter in Little Rock, Arkansas to prevent bankruptcy or harm from debt collectors.

Fast loans in Little Rock, Arkansas aren’t actually that difficult to obtain, particularly if you have some finesse like Walter. Walter was able to find a fast loan for $45000 from Boatmen’s Bank of Northeast Arkansas and Bank of Cave City, but declined both offers in favor of their high risk loan from Bank of the Ozarks wca. The improvement 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 personal loans. A big improvement if a client is on the go.

Client Profile: Walter Liveoak of Little Rock, Arkansas
  • Full name (Changed if requested): Walter Liveoak
  • Current Credit: loans.hit.utils.Fico@685f4c2e
  • Current City: Little Rock
  • State: Arkansas
  • Zip code: 72218
  • Yearly income: $38,000
  • Current Job: emergency medical technician
  • Current County: Pulaski
  • Goal Yearly Income: $129,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $5000

Contact Details for Bank of the Ozarks wca, the provider of this high risk loan

  • Bank of the Ozarks wca
  • City: Little Rock
  • State: Arkansas
  • Address: 12615 Chenal Parkway
  • County: Pulaski
  • Zip code: 72211

Multiple other requests for credit have been made by Walter in the past, including one from Livingston Federal Savings and Loan Association in Little Rock, Arkansas before Walter was accepted for the $45000 by Bank of the Ozarks wca

Walter made 5 prior attempts to obtain a high risk loan, 2 of which were with Livingston Federal Savings and Loan Association, a lending institution in Little Rock, Arkansas known to specialize in high risk loans specifically. Before finding Bank of the Ozarks wca, Walter was concerned due to their inexperience and terrible credit score.

Walter’s Overall FICO score at the time of acceptance for a high risk loan, taking into account their emergency medical technician job and their future job as a resource recovery engineer

Fico Score: 398

Paraphrased and Standardized Quote from Walter for this high risk loan of $45000, provided by Bank of the Ozarks wca

Hello, I am Walter and my hometown is Little Rock in Arkansas. Pulaski, county is where I grew up, and now I need a high risk loan in Arkansas for $45000 to avoid bankruptcy. It wasn’t easy, but Bank of the Ozarks wca really came through for me with this loan for 6.5% interest APR and a term of 14 years. I can probably repay the loan over the 14 year term, including interest. A big thanks to Bank of the Ozarks wca for trusting me and my terrible credit. It look me 4 years to build my credit to 398, and I won’t harm it any future. I am happy with Find Texas Loans for helping me this far.

When Walter was 24, they attempted to obtain a student loan from 7 different banks, which harmed their credit rating. Below is a chronology of Walter’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $27,000.00 on August 5, 2011
  • Attempt 2) Loan for $20,000.00 on May 7, 2011
  • Attempt 3) Loan for $23,000.00 on March 5, 2012
  • Attempt 4) Loan for $29,000.00 on January 22, 2012
  • Attempt 5) Loan for $20,000.00 on July 2, 2009
  • Attempt 6) Loan for $26,000.00 on June 27, 2012
  • Attempt 7) Loan for $26,000.00 on October 11, 2011

6 Months in the Past, Walter Tried Finding a High Risk Loan for $46,000.00, and it was Easy

There is an existing struggle for clients to find high risk loans in a non-harmful manner. Many high risk loans end up coming from loan sharks or similar lenders, which can be physically harmful to borrowers like Walter. Walter decided not to obtain a high risk loan this time. High Risk loans are generally given by lenders to very low credit applicants. Individuals with credit ratings as low as 466 can inquire for a high risk loan and possibly can be approved.

Walter has a disappointing current yearly income, but has several of prospects

Walter has always wanted to be a resource recovery engineer, but would have to attend Cardinal Stritch University again to become one. Walter has other possibilities as well, including health care facilities inspector, artillery and missile officer, and biology professor, which pay $51,000 through to $96,000 per year, at least. For this reason, we think that Walter can pay for this high risk loan of $45000.

Previous requests on Walter’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$71870.00 4 8.1% $1757.93 Bank of Weiner September 9, 2011
$72280.00 10 10.7% $983.42 Horizon Bank May 8, 2013
$72220.00 8 9.5% $1076.86 Warren Bank and Trust Company May 6, 2014
$71650.00 5 10.2% $1529.41 Boatmen’s Bank of Northeast Arkansas June 11, 2015
$72180.00 3 7.8% $2255.21 The Security Bank July 19, 2015

Debt Consolidation Will Help Any Deeply Indebted Borrower to Escape Bad Debts like Loan Sharks

Normal debt consolidation loans range from $29,000.00 to $59,000.00. They are normally used to pay off existing high interest loans like credit cards. Walter required a debt consolidation loan to pay for their existing high risk loan and their credit card. Walter 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 transfers your less desirable, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates as low as 3.7%.

Walter’s Transunion score was changed by the high risk loan loan, changing to 386 from 398, which is normal in our experience.

Transunion Score: 386

Personal Loan for an emergency medical technician named Walter in Little Rock, Arkansas to Pay Off Korean Air SkyBlue SkyPass Visa Card

Walter had a tonne of credit card debt on their Detroit Lions NFL Extra Points Visa Signature Card and their PNC Bank Travel Rewards Visa Business Credit Card, and they were starting to get in over their heads. Despite Walter’s job as an emergency medical technician, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Signature Loan found in Little Rock, Arkansas for $45000 with terrible credit by Walter

Most prospective borrowers have difficulty with finding signature loans in Little Rock, Arkansas, and Walter is no exception. Walter went to 7 lending institutions or more prior to finding Bank of the Ozarks wca, who offered Walter a signature loan for $45000. Most signature loans simply need a client, like Walter’s signature to get them, up to $37,000 in some cases. Walter was able to get $45000 as a high risk loan, which is very high for a high risk loan. Because signature loans do not need a cosigner, these loans tend to need higher credit, as high as 748

Before applying for this high risk loan, Walter had an Experian score of 416, which is terrible, so Bank of the Ozarks wca probably can provide Walter a high risk loan

Experian Score: 416

Walter was not approved by Chambers Bank of North Arkansas 4 times before being accepted by Bank of the Ozarks wca at 12615 Chenal Parkway

On December 7, 2009, Walter inquired about borrowing $3,000 from The Security Bank with Houston, their in law from just outside Little Rock, and even with the co-signer, Walter was rejected for this high risk loan. With terrible credit, it can be a challenge to obtain financing, even with collateral and a co-signer.

Installment loan for Walter, a graduate of Cardinal Stritch University and an emergency medical technician working for over $69,000 per year

Walter, an alumnus at Cardinal Stritch University and an emergency medical technician in Little Rock, Arkansas wants a high risk loan to purchase a new cell phone. Walter has instead decided to obtain an installment loan for $4,000 and is at present seeking lenders like Horizon Bank to process their request.

Conclusion of Walter’s high risk loan

In the end, Walter was able to find a high risk loan for $45000 with an interest rate of 8.7% interest APR from Bank of the Ozarks wca in Little Rock, Arkansas repayable over 14 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.