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Malorie Wanted A Consolidation Loan For $8000, Waverly, Tennessee

$8000 Consolidation Loan – Waverly Tennessee, Credit Score Of 499

  • Experian: 509 – This client had a bad Experian rating
  • Transunion: 480 – Malorie had a bad credit rating with Transunion.
  • Equifax: Malorie’s Experian score was 499, which is a bad credit score with the Experian scale.

Paraphrased and Standardized Quote from Malorie for this consolidation loan of $8000, provided by First Federal Savings and Loan Association

Hello, I am Malorie and I am from Waverly in Tennessee. Humphreys, county is where I grew up, and now I need a consolidation loan in Tennessee for $8000 to avoid bankruptcy. It has been difficult, but First Federal Savings and Loan Association really came through for me with this loan for 10.0% interest APR and a term of 10 years. I can probably repay the loan over the 10 year term, including interest. A big thanks to First Federal Savings and Loan Association for giving me a chance and my bad credit. It look me 4 years to build my credit to 499, and I won’t tarnish it any future. I am happy with Find Texas Loans for assisting me this far.

Malorie has a low current gross income, but has several of prospects

Malorie has always wanted to be a casino surveillance officer, but would have to attend Ohio State University again to become one. Malorie has other possibilities as well, including subway and streetcar conductor, chemical plant operator, and travel agent, which pay $57,000 through to $107,000 per year, on average. Because of this, we believe that Malorie can afford this consolidation loan of $8000.

Malorie’s Overall FICO score at the time of acceptance for a consolidation loan, taking into account their film editor job and their future job as a casino surveillance officer

Fico Score: 499

Personal Loan for a film editor named Malorie in Waverly, Tennessee to Pay Off Solvay Bank Visa Platinum Standard Card

Malorie had a tonne of credit card debt on their Salmon Nation Visa and their Seacoast National Bank Credit Cards, and they were starting to get in over their heads. Despite Malorie’s job as a film editor, they struggled to make payments on the $29,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Before applying for this consolidation loan, Malorie had an Experian score of 509, which is bad, so First Federal Savings and Loan Association probably cannot provide Malorie a consolidation loan

Experian Score: 509

Installment loan for Malorie, a graduate of Ohio State University and a film editor working for over $66,000 per year

Malorie, an alumnus at Ohio State University and a film editor in Waverly, Tennessee wants a consolidation loan to purchase a car. Malorie has instead chosen to obtain an installment loan for $11,000 and is at present seeking lenders like First Farmers and Merchants Bank to provide it.

Malorie was not approved by The Farmers Bank of Lynchburg 6 times prior to being granted funding by First Federal Savings and Loan Association at Waverly Plaza Shopping Center W Main

On July 9, 2011, Malorie applied about borrowing $43,000 from Citizens Bank of Monroe County with Allie, their friend from just outside Waverly, and even with the co-signer, Malorie was rejected for this consolidation loan. With bad credit, it can be very hard to procure funding, even with collateral and a co-signer.

Malorie’s Transunion score was altered by the consolidation loan loan, changing to 480 from 499, which is normal in our experience.

Transunion Score: 480

Previous requests on Malorie’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$42790.00 6 5.8% $705.12 Citizens Bank May 12, 2012
$42600.00 3 8.1% $1336.9 SunTrust Bank, Chattanooga, National Association October 1, 2012
$43240.00 10 10.6% $585.88 GreenBank August 14, 2013
$43320.00 5 10.5% $931.12 CommunityFIRST Bank December 28, 2013
$43210.00 9 6.6% $531.68 Bank of Belfast August 12, 2014

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

Average debt consolidation loans vary from $24,000.00 to $53,000.00. They are typically used to pay off existing high interest loans like credit cards. Malorie required a debt consolidation loan to pay for their existing consolidation loan and their payday loan. Malorie was able to find a consolidation loan in the end. Debt consolidation, or simply consolidation, is a tactic in the debt snowball method which transfers your dirty, high interest loans to one lower interest loan. Debt consolidation loans usually have interest rates as low as 3.3%.

Many previous requests for credit have been made by Malorie in the past, including one from Mid-South Bank and Trust Company in Waverly, Tennessee before Malorie was approved for the $8000 by First Federal Savings and Loan Association

Malorie made 9 previous attempts to obtain a consolidation loan, 2 of which were with Mid-South Bank and Trust Company, a lender in Waverly, Tennessee known to specialize in consolidation loans specifically. Prior to finding First Federal Savings and Loan Association, Malorie was desperate due to their inexperience and bad credit score.

Signature Loan acquired in Waverly, Tennessee for $8000 with bad credit by Malorie

Most prospective borrowers struggle with finding signature loans in Waverly, Tennessee, and Malorie is the same. Malorie went to 7 lending institutions or more prior to finding First Federal Savings and Loan Association, who offered Malorie a signature loan for $8000. Typical signature loans simply require a client, like Malorie’s signature to obtain them, up to $26,000 in some cases. Malorie was able to get $8000 as a consolidation loan, which is very high for a consolidation loan. Since signature loans don’t need a cosigner, they generally require improved credit, as high as 779

Fast Loans for Malorie in Waverly, Tennessee to prevent bankruptcy or harm from debt collectors.

Fast loans in Waverly, Tennessee aren’t actually that difficult to obtain, particularly if you have some finesse like Malorie. Malorie was able to find a fast loan for $8000 from Peoples and Union Bank and Bank of Madisonville, but turned down both offers in favor of their consolidation loan from First Federal Savings and Loan 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 5 weeks for personal loans. Much better if you are on the go.

When Malorie was 20, they attempted to obtain a student loan from 6 alternate lenders, which harmed their credit score. Below is a chronology of Malorie’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $24,000.00 on March 28, 2010
  • Attempt 2) Loan for $24,000.00 on April 9, 2011
  • Attempt 3) Loan for $29,000.00 on October 17, 2012
  • Attempt 4) Loan for $27,000.00 on February 16, 2011
  • Attempt 5) Loan for $29,000.00 on February 13, 2011
  • Attempt 6) Loan for $21,000.00 on August 3, 2012

Contact Details for First Federal Savings and Loan Association, the provider of this consolidation loan

  • First Federal Savings and Loan Association
  • City: Waverly
  • State: Tennessee
  • Address: Waverly Plaza Shopping Center W Main
  • County: Humphreys
  • Zip code: 37185
Client Profile: Malorie Towels of Waverly, Tennessee
  • Full name (Changed if requested): Malorie Towels
  • Current Credit: loans.hit.utils.Fico@4d405ef7
  • Current City: Waverly
  • State: Tennessee
  • Zip code: 37191
  • Yearly income: $39,000
  • Current Job: film editor
  • Current County: Humphreys
  • Goal Yearly Income: $88,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $1000

8 Months in the Past, Malorie Attempted Finding a High Risk Loan for $35,000.00, and it was Easy

There is an well known struggle for clients to find high risk loans in a non-harmful manner. a lot of high risk loans end up coming from loan sharks or the like, which can be frightening to borrowers like Malorie. Malorie decided not to get a high risk loan this time. High Risk loans are generally given by lenders to terrible credit clients. Individuals with credit ratings as low as 421 can apply for a high risk loan and have a chance to be approved.

Conclusion of Malorie’s consolidation loan

In the end, Malorie was able to find a consolidation loan for $8000 with an interest rate of 5.6% interest APR from First Federal Savings and Loan Association in Waverly, Tennessee repayable over 10 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.