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Low Rate Unsecured Loan For Darrick In Chicago, Illinois

$116000 Unsecured Loan – Chicago Illinois, Credit Score Of 732

  • Experian: 742 – They had an excellent Experian score
  • Transunion: 718 – Darrick had an excellent credit score with Transunion.
  • Equifax: Darrick’s Experian score was 732, which is an excellent credit score on the Experian rating scheme.

Fast Loans for Darrick in Chicago, Illinois to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Chicago, Illinois aren’t actually that difficult to obtain, particularly if you have some gumption like Darrick. Darrick was able to find a fast loan for $116000 from Old Kent Bank and Merchandise National Bank of Chicago, but declined both offers in favor of their unsecured loan from Century Federal Savings Bank. The improvement with a fast loan over a installment loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 7 weeks for installment loans. A big improvement if a borrower is in a pinch.

Client Profile: Darrick Nivens of Chicago, Illinois
  • Full name (Changed if requested): Darrick Nivens
  • Current Credit: loans.hit.utils.Fico@66a29884
  • Current City: Chicago
  • State: Illinois
  • Zip code: 60617
  • Yearly income: $37,000
  • Current Job: maintenance supervisor
  • Current County: Cook
  • Goal Yearly Income: $133,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $7000

Installment loan for Darrick, a graduate of Central Methodist University and a maintenance supervisor working for over $65,000 per year

Darrick, an alumnus at Central Methodist University and a maintenance supervisor in Chicago, Illinois wants an unsecured loan to purchase a house. Darrick has instead decided to obtain an installment loan for $8,000 and is at present seeking lenders like First Bank of Eureka to provide it.

Signature Loan acquired in Chicago, Illinois for $116000 with excellent credit by Darrick

A lot of clients struggle with obtaining signature loans in Chicago, Illinois, and Darrick is not an exception. Darrick went to 4 lending institutions or more before finding Century Federal Savings Bank, who offered Darrick a signature loan for $116000. Typical signature loans simply require a client, like Darrick’s signature to get them, up to $29,000 in some cases. Darrick was able to get $116000 as a unsecured loan, which is very high for an unsecured loan. Since signature loans do not require collateral, they generally require better credit, as high as 731

Paraphrased and Standardized Quote from Darrick for this unsecured loan of $116000, provided by Century Federal Savings Bank

Hello, I am Darrick and my hometown is Chicago in Illinois. Cook, county is where I grew up, and now I need a unsecured loan in Illinois for $116000 to renovate my home. It wasn’t easy, but Century Federal Savings Bank really came through for me with this loan for 10.5% interest APR and a term of 8 years. I can repay the loan over the 8 year term, including interest. A big thanks to Century Federal Savings Bank for trusting me and my excellent credit. It look me 9 years to create my credit to 732, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for assisting me this far.

9 Months in the Past, Darrick Tried Finding a High Risk Loan for $29,000.00, and it was Hard

There is an existing struggle for clients 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 Darrick. Darrick decided not to get a high risk loan this time. High Risk loans are given to very low credit borrowers. Individuals with credit ratings as low as 316 can apply for a high risk loan and possibly can be accepted.

When Darrick was 18, they attempted to obtain a student loan from 6 different banks, which damaged their credit rating. Below is a chronology of Darrick’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $24,000.00 on July 18, 2011
  • Attempt 2) Loan for $25,000.00 on November 9, 2008
  • Attempt 3) Loan for $32,000.00 on October 24, 2012
  • Attempt 4) Loan for $37,000.00 on June 2, 2009
  • Attempt 5) Loan for $28,000.00 on February 26, 2011
  • Attempt 6) Loan for $33,000.00 on January 25, 2012

Debt Consolidation Can Assist Any Highly Indebted Borrower to Escape Bad Debts like Credit Card Debt

Average debt consolidation loans range from $37,000.00 to $56,000.00. They are normally used to pay off existing high interest loans like credit cards. Darrick required a debt consolidation loan to pay for their existing unsecured loan and their payday loan. Darrick was able to find a unsecured loan in the end. Debt consolidation, or just consolidation, is a tactic in the strategic borrowing 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 2.8%.

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

Darrick has always wanted to be a medical examiner/coroner, but would need attend Central Methodist University again to become one. Darrick has other possibilities as well, including computer controlled machine tool operator, resource teacher, and art therapist, which pay $59,000 through to $108,000 per year, on average. For this reason, we think that Darrick can pay for this unsecured loan of $116000.

Darrick’s Overall FICO score at the time of acceptance for an unsecured loan, taking into account their maintenance supervisor job and their future career as a medical examiner/coroner

Fico Score: 732

Darrick’s Transunion score was altered by the unsecured loan loan, changing to 718 from 732, which is typical in our experience.

Transunion Score: 718

Personal Loan for a maintenance supervisor named Darrick in Chicago, Illinois to Pay Off Conestoga Bank Secured Visa Card

Darrick had a lot of credit card debt on their FirstBank Credit Cards and their Vision Premier Visa Prepaid Card, and they were starting to get in over their heads. Despite Darrick’s job as a maintenance supervisor, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Contact Details for Century Federal Savings Bank, the provider of this unsecured loan

  • Century Federal Savings Bank
  • City: Chicago
  • State: Illinois
  • Address: 1947 West 35th St
  • County: Cook
  • Zip code: 60609

Multiple previous requests for credit have been made by Darrick in the past, including one from The First National Bank of Sharon in Chicago, Illinois before Darrick was accepted for the $116000 by Century Federal Savings Bank

Darrick made 5 prior attempts to obtain an unsecured loan, 2 of which were with The First National Bank of Sharon, a lending institution in Chicago, Illinois known to specialize in unsecured loans specifically. Prior to finding Century Federal Savings Bank, Darrick was concerned due to their inexperience and excellent credit rating.

Previous requests on Darrick’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$88180.00 7 7.1% $1335.19 The Gerber State Bank September 11, 2011
$87820.00 8 10.7% $1365.34 The Belvidere National Bank and Trust Company April 25, 2014
$88130.00 8 5.4% $1132.58 Commerce Bank December 7, 2014
$88440.00 8 7.4% $1223.45 Byron Bank February 6, 2015

Darrick was declined by Mercantile National Bank of Chicago 6 times prior to being granted funding by Century Federal Savings Bank at 1947 West 35th St

On July 16, 2009, Darrick inquired about borrowing $2,000 from Peoples National Bank of Kewanee with Bennett, their friend from just outside Chicago, and even with the co-signer, Darrick was rejected for this unsecured loan. With excellent credit, it can be a challenge to procure financing, even with collateral and a co-signer.

Before applying for this unsecured loan, Darrick had an Experian score of 742, which is excellent, so Century Federal Savings Bank most likely cannot provide Darrick an unsecured loan

Experian Score: 742

Conclusion of Darrick’s unsecured loan

In the end, Darrick was able to find an unsecured loan for $116000 with an interest rate of 11.2% interest APR from Century Federal Savings Bank in Chicago, Illinois repayable over 8 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.