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Private Loan With Reasonable APR In Gratiot County, Michigan

$54000 Private Loan – Alma Michigan, Credit Rating Of 803

  • Experian: 821 – The client had an excellent Experian score
  • Transunion: 788 – Shelby had an excellent credit score with Transunion.
  • Equifax: Shelby’s Experian score was 803, which is an excellent credit score with the Experian system.

Paraphrased and Standardized Quote from Shelby for this private loan of $54000, provided by Commercial Bank

Hi, I am Shelby and I am from Alma in Michigan. Gratiot, county is where I grew up, and now I need a private loan in Michigan for $54000 to buy a big ticket item. It has been difficult, but Commercial Bank really came through for me with this loan for 5.3% interest APR and a term of 11 years. I can repay the loan over the 11 year term, including interest. A big thanks to Commercial Bank for trusting me and my excellent credit. It look me 7 years to create my credit to 803, and I won’t tarnish it any more. I am pleased with Find Texas Loans for assisting me this far.

Previous requests on Shelby’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$81320.00 4 7.8% $1977.63 Society Bank, Lenawee November 2, 2008
$81300.00 8 5.6% $1052.63 Bank of Lenawee February 28, 2011
$80590.00 11 5.2% $802.98 First of America Bank – Alpena June 8, 2014
$81390.00 5 9.4% $1705.37 NBD Ann Arbor, National Association July 3, 2015

Shelby has a low current total income, but has several of prospects

Shelby has always wanted to be a medical examiner/coroner, but would need attend Lincoln Land Community College again to become one. Shelby has other prospects as well, including labor relations advisor, automotive engineer, and graduate teaching assistant, which pay $53,000 through to $104,000 per year, at least. For this reason, we believe that Shelby can afford this private loan of $54000.

Fast Loans for Shelby in Alma, Michigan to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Alma, Michigan aren’t actually that difficult to obtain, especially if you have some gumption like Shelby. Shelby was able to find a fast loan for $54000 from Union Savings Bank of Manchester and First of America Bank – Alpena, but turned down both offers in favor of their private loan from Commercial Bank. 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 6 weeks for debt consolidation loans. A big difference in the case that a client is in a pinch.

Shelby’s Overall FICO score at the time of acceptance for a private loan, taking into account their sales representatives job and their future career as a medical examiner/coroner

Fico Score: 803

Signature Loan acquired in Alma, Michigan for $54000 with excellent credit by Shelby

Most prospective borrowers struggle with finding signature loans in Alma, Michigan, and Shelby is no different. Shelby went to 8 lenders or more prior to settling on Commercial Bank, who offered Shelby a signature loan for $54000. Typical signature loans simply need a client, like Shelby’s signature to obtain them, up to $43,000 in some cases. Shelby was able to get $54000 as a private loan, which is very high for a private loan. Since signature loans do not need a cosigner, they generally need improved credit, as high as 779

Contact Details for Commercial Bank, the provider of this private loan

  • Commercial Bank
  • City: Alma
  • State: Michigan
  • Address: 301 North State Street
  • County: Gratiot
  • Zip code: 48801

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

Most debt consolidation loans range from $31,000.00 to $44,000.00. They are mainly used to pay off existing high interest loans like credit cards. Shelby required a debt consolidation loan to pay for their existing private loan and their loan shark loan. Shelby was able to find a private loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which transfers your bad, high interest loans to one reduced interest loan. Debt consolidation loans generally have interest rates that are low, like 2.8%.

Personal Loan for a sales representatives named Shelby in Alma, Michigan to Pay Off RBC Bank Business Credit Cards

Shelby had a tonne of credit card debt on their REC REWARDS Visa Signature card from Barclays Bank Delaware and their Business Rewards Visa Card, and they were starting to get in over their heads. Despite Shelby’s job as a sales representatives, they struggled to make payments on the $26,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Shelby’s Transunion score was changed by the private loan loan, changing to 788 from 803, which is typical in our experience.

Transunion Score: 788

Client Profile: Shelby Vinup of Alma, Michigan
  • Full name (Changed if requested): Shelby Vinup
  • Current Credit: loans.hit.utils.Fico@5b6f7412
  • Current City: Alma
  • State: Michigan
  • Zip code: 48808
  • Yearly income: $69,000
  • Current Job: sales representatives
  • Current County: Gratiot
  • Goal Yearly Income: $95,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $0

Several past requests for credit have been made by Shelby in the past, including one from Citizens Bank New Hampshire in Alma, Michigan before Shelby was accepted for the $54000 by Commercial Bank

Shelby made 4 previous attempts to obtain a private loan, 2 of which were with Citizens Bank New Hampshire, a bank in Alma, Michigan known to specialize in private loans specifically. Before finding Commercial Bank, Shelby was desperate due to their inexperience and excellent credit score.

9 Months in the Past, Shelby Attempted Finding a High Risk Loan for $31,000.00, but They Didn’t Find What They were Expecting

There is an ongoing struggle for clients to get high risk loans in a safe way. Many high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Shelby. Shelby decided 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 473 can apply for a high risk loan and may be be accepted.

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

  • Attempt 1) Loan for $37,000.00 on May 26, 2010
  • Attempt 2) Loan for $31,000.00 on September 9, 2009
  • Attempt 3) Loan for $35,000.00 on July 25, 2010
  • Attempt 4) Loan for $35,000.00 on December 13, 2013
  • Attempt 5) Loan for $33,000.00 on May 3, 2009
  • Attempt 6) Loan for $38,000.00 on September 27, 2012

Installment loan for Shelby, a graduate of Lincoln Land Community College and a sales representatives working for over $60,000 per year

Shelby, an alumnus at Lincoln Land Community College and a sales representatives in Alma, Michigan wants a private loan to purchase something frivolous. Shelby has instead decided to get an installment loan for $23,000 and is currently seeking lenders like Isabella Bank to provide it.

Shelby was rejected by G. W. Jones Exchange Bank 5 times before being approved by Commercial Bank at 301 North State Street

On December 28, 2008, Shelby inquired about borrowing $15,000 from FMB-Commercial Bank with Willena, their in law from just outside Alma, and even with the co-signer, Shelby was rejected for this private loan. With excellent credit, it can be challenging to procure financing, even with collateral and a co-signer.

Before applying for this private loan, Shelby had an Experian score of 821, which is excellent, so Commercial Bank probably cannot provide Shelby a private loan

Experian Score: 821

Conclusion of Shelby’s private loan

In the end, Shelby was able to find a private loan for $54000 with an interest rate of 7.1% interest APR from Commercial Bank in Alma, Michigan repayable over 11 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.