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Low Rate Personal Loan For Charles In Amarillo, Texas

$60000 Personal Loan – Amarillo Texas, Credit Rating Of 606

  • Experian: 623 – This client had a good Experian rating
  • Transunion: 590 – Charles had a good credit score with Transunion.
  • Equifax: Charles’s Experian score was 606, which is a good credit rating with the Experian system.

Paraphrased and Standardized Quote from Charles for this personal loan of $60000, provided by FirstBank Southwest

Hi, I am Charles and I’m from Amarillo in Texas. Potter, county is where I grew up, and now I need a personal loan in Texas for $60000 to buy a car. It wasn’t easy, but FirstBank Southwest really came through for me with this loan for 8.3% interest APR and a term of 15 years. I will repay the loan over the 15 year term, including interest. A big thanks to FirstBank Southwest for trusting me and my good credit. It look me 8 years to create my credit to 606, and I won’t harm it any more. I am happy with Find Texas Loans for helping me this far.

Before applying for this personal loan, Charles had an Experian score of 623, which is good, so FirstBank Southwest probably cannot provide Charles a personal loan

Experian Score: 623

6 Months in the Past, Charles Attempted to Find a High Risk Loan for $27,000.00, but They Didn’t Find What They were Expecting

There is an well known struggle for clients to get high risk loans in a safe way. a lot of high risk loans end up originating loan sharks or the like, which can be physically harmful to borrowers like Charles. Charles chose not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit individuals. Individuals with credit scores as low as 498 can inquire for a high risk loan and have a chance to be accepted.

Charles’s Overall FICO score at the time of acceptance for a personal loan, taking into account their mining engineer job and their future career as a vending machine mechanic

Fico Score: 606

Personal Loan for a mining engineer named Charles in Amarillo, Texas to Pay Off Academy of Applied Personal Training Education Visa Platinum Rewards Card

Charles had a tonne of credit card debt on their BB&T Visa Platinum Credit Card and their NEA Cash Rewards Visa Signature Card, and they were starting to get in over their heads. Despite Charles’s job as a mining engineer, they struggled to make payments on the $29,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

When Charles was 23, they tried to obtain a student loan from 4 alternate lenders, which harmed their credit score. Below is a list of Charles’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $22,000.00 on June 11, 2011
  • Attempt 2) Loan for $36,000.00 on August 8, 2011
  • Attempt 3) Loan for $35,000.00 on June 9, 2012
  • Attempt 4) Loan for $25,000.00 on October 8, 2009

Contact Details for FirstBank Southwest, the provider of this personal loan

  • FirstBank Southwest
  • City: Amarillo
  • State: Texas
  • Address: 2401 South Georgia
  • County: Potter
  • Zip code: 79120

Charles’s Transunion score was changed by the personal loan loan, changing to 590 from 606, which is normal in our experience.

Transunion Score: 590

Previous requests on Charles’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$85490.00 10 10.7% $1163.15 Comerica Bank December 23, 2008
$85110.00 8 10.2% $1300.5 First Star Bank, S.S.B. January 31, 2009
$85290.00 8 10.3% $1307.78 Brownfield State Bank & Trust Co. September 23, 2011
$84680.00 7 5.7% $1224.91 First Bank & Trust, Bryan, Texas August 25, 2012
$85370.00 3 7.3% $2647.7 First Bank & Trust of Clarendon June 25, 2013

Several previous requests for credit have been made by Charles in the past, including one from The Peoples Savings Bank in Amarillo, Texas before Charles was accepted for the $60000 by FirstBank Southwest

Charles made 7 previous tries to obtain a personal loan, 2 of which were with The Peoples Savings Bank, a lender in Amarillo, Texas known to specialize in personal loans specifically. Prior to finding FirstBank Southwest, Charles was concerned due to their inexperience and good credit score.

Signature Loan acquired in Amarillo, Texas for $60000 with good credit by Charles

Many clients have difficulty with finding signature loans in Amarillo, Texas, and Charles is the same. Charles went to 7 lending institutions or more prior to settling on FirstBank Southwest, who offered Charles a signature loan for $60000. Typical signature loans simply require a client, like Charles’s signature to get them, up to $43,000 in some cases. Charles was able to get $60000 as a personal loan, which is very high for a personal loan. Since signature loans do not need a cosigner, they tend to need improved credit, as high as 717

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

Normal debt consolidation loans vary from $27,000.00 to $59,000.00. They are normally used to pay off existing high interest loans like credit cards. Charles needed a debt consolidation loan to pay for their existing personal loan and their credit card. Charles was able to find a personal loan in the end. Debt consolidation, or simply 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 usually have interest rates that are low, like 3.4%.

Charles was declined by Comerica Bank 5 times before being accepted by FirstBank Southwest at 2401 South Georgia

On December 8, 2009, Charles applied about borrowing $34,000 from Comerica Bank with Lyda, their friend from just outside Amarillo, and even with the co-signer, Charles was rejected for this personal loan. With good credit, it can be challenging to procure funding, even with collateral and a co-signer.

Installment loan for Charles, a graduate of Pima Medical Institute – Tucson and a mining engineer working for over $61,000 per year

Charles, an alumnus at Pima Medical Institute – Tucson and a mining engineer in Amarillo, Texas needs a personal loan to purchase a house. Charles has instead decided to obtain an installment loan for $23,000 and is at present seeking lenders like First RepublicBank Forney to provide it.

Charles has a low current total income, but has a large amount of prospects

Charles has always wanted to be a vending machine mechanic, but would need attend Pima Medical Institute – Tucson again to become one. Charles has other possibilities as well, including radiologist, dispatcher, and anesthesiologist, which pay $51,000 through to $103,000 per year, at least. For this reason, we believe that Charles can afford this personal loan of $60000.

Client Profile: Charles Willcoxon of Amarillo, Texas
  • Full name (Changed if requested): Charles Willcoxon
  • Current Credit: loans.hit.utils.Fico@5a10411
  • Current City: Amarillo
  • State: Texas
  • Zip code: 79127
  • Yearly income: $40,000
  • Current Job: mining engineer
  • Current County: Potter
  • Goal Yearly Income: $120,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $2000

Fast Loans for Charles in Amarillo, Texas to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Amarillo, Texas aren’t actually that difficult to obtain, especially if you have some gumption like Charles. Charles was able to find a fast loan for $60000 from First State Bank and First City Bank of Richardson, but turned down both offers in favor of their personal loan from FirstBank Southwest. The difference with a fast loan over a installment loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 6 weeks for debt consolidation loans. A big improvement if a client is on the go.

Conclusion of Charles’s personal loan

In the end, Charles was able to find a personal loan for $60000 with an interest rate of 5.7% interest APR from FirstBank Southwest in Amarillo, Texas repayable over 15 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.