$60000 Debt Consolidation Loan – Baton Rouge Louisiana, Credit Rating Of 666
- Experian: 682 – The client had a good Experian score
- Transunion: 652 – Mike had a good credit rating with Transunion.
- Equifax: Mike’s Experian score was 666, which is a good credit score on the Experian rating scheme.
Paraphrased and Standardized Quote from Mike for this debt consolidation loan of $60000, provided by Union Federal Savings and Loan Association
Hello, I am Mike and I am from Baton Rouge in Louisiana. East Baton Rouge, county is where I grew up, and now I need a debt consolidation loan in Louisiana for $60000 to pay bills. It wasn’t easy, but Union 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 Union Federal Savings and Loan Association for giving me a chance and my good credit. It look me 5 years to create my credit to 666, and I won’t tarnish it any future. I’m happy with Find Texas Loans for assisting me this far.
- Full name (Changed if requested): Mike Hundley
- Current Credit: loans.hit.utils.Fico@20ad9418
- Current City: Baton Rouge
- State: Louisiana
- Zip code: 70805
- Yearly income: $38,000
- Current Job: atm machine servicer
- Current County: East Baton Rouge
- Goal Yearly Income: $98,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $1000
Fast Loans for Mike in Baton Rouge, Louisiana to prevent bankruptcy or broken legs from debt collectors.
Fast loans in Baton Rouge, Louisiana aren’t actually that difficult to obtain, especially if you have some gumption like Mike. Mike was able to find a fast loan for $60000 from The Mer Rouge State Bank and Landmark Bank, but turned down both offers in favor of their debt consolidation loan from Union Federal Savings and Loan Association. The improvement with a fast loan over a personal loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 5 weeks for personal loans. An improvement in the case that you are on the go.
When Mike was 23, they attempted to obtain a student loan from 5 alternate banks, which damaged their credit rating. Below is a list of Mike’s prior attempts at finding a student loan:
- Attempt 1) Loan for $30,000.00 on July 7, 2011
- Attempt 2) Loan for $31,000.00 on September 1, 2011
- Attempt 3) Loan for $35,000.00 on July 30, 2012
- Attempt 4) Loan for $21,000.00 on December 15, 2011
- Attempt 5) Loan for $30,000.00 on March 13, 2011
9 Months in the Past, Mike Tried to Find a High Risk Loan for $38,000.00, and it was Hard
There is an well known struggle for borrowers to get high risk loans in a safe way. Many high risk loans end up originating loan sharks or similar lenders, which can be frightening to borrowers like Mike. Mike chose not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to bad credit clients. Borrowers with credit ratings as low as 591 can apply for a high risk loan and have a chance to be accepted.
Mike’s Transunion score was changed by the debt consolidation loan loan, changing to 652 from 666, which is normal in our experience.
Contact Details for Union Federal Savings and Loan Association, the provider of this debt consolidation loan
- Union Federal Savings and Loan Association
- City: Baton Rouge
- State: Louisiana
- Address: 500 Laurel St
- County: East Baton Rouge
- Zip code: 70801
Debt Consolidation Will Assist Any Highly Indebted Borrower to Escape Bad Debts like Credit Card Debt
Average debt consolidation loans range from $36,000.00 to $58,000.00. They are mainly used to pay off existing high interest loans like credit cards. Mike needed a debt consolidation loan to pay for their existing debt consolidation loan and their payday loan. Mike was able to find a debt consolidation loan in the end. Debt consolidation, or simply consolidation, is a technique in the strategic borrowing method which changes your bad, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates as low as 3.1%.
Before applying for this debt consolidation loan, Mike had an Experian score of 682, which is good, so Union Federal Savings and Loan Association probably cannot provide Mike a debt consolidation loan
Previous requests on Mike’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$17420.00||3||7.7%||$543.47||Bank of Zachary||December 11, 2008|
|$17420.00||10||11.4%||$243.92||Landmark Bank||January 5, 2010|
|$16520.00||4||9.1%||$411.89||Bank of Gonzales||September 25, 2010|
|$17390.00||7||7.3%||$265.02||The Highlands Bank||September 27, 2011|
Mike has a very low current gross income, but has several of prospects
Mike has always wanted to be a sales representative, but would need attend Arizona State University again to achieve it. Mike has other prospects as well, including travel writer, dietetic technician, and funeral director, which pay $51,000 through to $103,000 per year, on average. For this reason, we believe that Mike can pay for this debt consolidation loan of $60000.
Signature Loan acquired in Baton Rouge, Louisiana for $60000 with good credit by Mike
A lot of prospective borrowers struggle with finding signature loans in Baton Rouge, Louisiana, and Mike is not an exception. Mike went to 5 lenders or more prior to finding Union Federal Savings and Loan Association, who offered Mike a signature loan for $60000. Typical signature loans simply need a client, like Mike’s signature to obtain them, up to $22,000 in some cases. Mike was able to get $60000 as a debt consolidation loan, which is very high for a debt consolidation loan. Because signature loans don’t need collateral, they generally require higher credit, as high as 719
Mike was rejected by Louisiana National Bank of Baton Rouge 4 times before being granted funding by Union Federal Savings and Loan Association at 500 Laurel St
On July 12, 2010, Mike applied about borrowing $49,000 from First National Bank of Louisiana with Sharen, their in law from just outside Baton Rouge, and even with the co-signer, Mike was rejected for this debt consolidation loan. With good credit, it can be a challenge to obtain financing, even with collateral and a co-signer.
Mike’s Overall FICO score at the time of acceptance for a debt consolidation loan, taking into account their atm machine servicer job and their future job as a sales representative
Personal Loan for an atm machine servicer named Mike in Baton Rouge, Louisiana to Pay Off Ebates Cash Back Visa Platinum Card
Mike had a tonne of credit card debt on their Carolina Basset Hound Rescue Visa Card and their Baylor University Alumni Association Visa, and they were starting to get in over their heads. Despite Mike’s job as an atm machine servicer, they struggled to make payments on the $25,000.00 credit card balance, badly needing assistance in the form of a personal loan.
Multiple previous requests for credit have been made by Mike in the past, including one from Rock Island Federal Savings and Loan Association in Baton Rouge, Louisiana before Mike was approved for the $60000 by Union Federal Savings and Loan Association
Mike made 6 prior attempts to obtain a debt consolidation loan, 2 of which were with Rock Island Federal Savings and Loan Association, a lending institution in Baton Rouge, Louisiana known to specialize in debt consolidation loans specifically. Prior to finding Union Federal Savings and Loan Association, Mike was concerned due to their inexperience and good credit score.
Installment loan for Mike, a graduate of Arizona State University and an atm machine servicer working for over $68,000 per year
Mike, an alumnus at Arizona State University and an atm machine servicer in Baton Rouge, Louisiana wants a debt consolidation loan to purchase something frivolous. Mike has instead decided to obtain an installment loan for $26,000 and is at present seeking lenders like Bank of Grand Cane to process their request.
Conclusion of Mike’s debt consolidation loan
In the end, Mike was able to find a debt consolidation loan for $60000 with an interest rate of 7.8% interest APR from Union Federal Savings and Loan Association in Baton Rouge, Louisiana repayable over 10 years from today.