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Rudy Had Need For A Student Loan For $16000, Providence, Rhode Island

$16000 Student Loan – Providence Rhode Island, Credit Rating Of 562

  • Experian: 581 – The client had a fair Experian score
  • Transunion: 548 – Rudy had a fair credit rating with Transunion.
  • Equifax: Rudy’s Experian score was 562, which is a fair credit score using the Experian rating scheme.

Rudy’s Transunion score was changed by the student loan loan, changing to 548 from 562, which is normal in our experience.

Transunion Score: 548

Client Profile: Rudy Lanahan of Providence, Rhode Island
  • Full name (Changed if requested): Rudy Lanahan
  • Current Credit: loans.hit.utils.Fico@433c675d
  • Current City: Providence
  • State: Rhode Island
  • Zip code: 2906
  • Yearly income: $64,000
  • Current Job: forest and conservation technician
  • Current County: Providence
  • Goal Yearly Income: $120,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $6000

Paraphrased and Standardized Quote from Rudy for this student loan of $16000, provided by Bank of America, Rhode Island, National Association

Hi, I am Rudy and I am from Providence in Rhode Island. Providence, county is where I grew up, and now I need a student loan in Rhode Island for $16000 to renovate my home. It has been difficult, but Bank of America, Rhode Island, National Association really came through for me with this loan for 9.2% interest APR and a term of 9 years. I can probably repay the loan over the 9 year term, including interest. A big thanks to Bank of America, Rhode Island, National Association for trusting me and my fair credit. It look me 8 years to create my credit to 562, and I won’t harm it any future. I am pleased with Find Texas Loans for assisting me this far.

Many past requests for credit have been made by Rudy in the past, including one from Scottrade Bank in Providence, Rhode Island before Rudy was accepted for the $16000 by Bank of America, Rhode Island, National Association

Rudy made 7 prior attempts to obtain a student loan, 2 of which were with Scottrade Bank, a lender in Providence, Rhode Island known to specialize in student loans specifically. Before finding Bank of America, Rhode Island, National Association, Rudy was concerned due to their inexperience and fair credit rating.

8 Months Ago, Rudy Attempted to Find a High Risk Loan for $43,000.00, and it was Hard

It is an existing struggle for borrowers to find high risk loans in a safe manner. a lot of high risk loans end up originating loan sharks or similar lenders, which can be scary to borrowers like Rudy. Rudy chose not to obtain a high risk loan this time. High Risk loans are generally given by lenders to very low credit borrowers. Clients with credit ratings as low as 534 can apply for a high risk loan and have a chance to be accepted.

Fast Loans for Rudy in Providence, Rhode Island to prevent bankruptcy or harm from debt collectors.

Fast loans in Providence, Rhode Island aren’t actually that difficult to obtain, especially if you have some finesse like Rudy. Rudy was able to find a fast loan for $16000 from The Washington Trust Company, of Westerly and Westerly Savings Bank, but declined both offers in favor of their student loan from Bank of America, Rhode Island, National Association. The difference with a fast loan over a personal loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 6 weeks for installment loans. Much better in the case that a borrower is in a time sensitive situation.

Debt Consolidation Can Assist Most Deeply Indebted Borrower to Escape Bad Debts like Loan Sharks

Most debt consolidation loans range from $22,000.00 to $55,000.00. They are typically used to pay off existing high interest loans like credit cards. Rudy needed a debt consolidation loan to pay for their existing student loan and their loan shark loan. Rudy was able to find a student loan in the end. Debt consolidation, or simply consolidation, is a tactic in the debt snowball method which changes your less desirable, high interest loans to a single reduced interest loan. Debt consolidation loans generally have interest rates that are low, like 3.0%.

Rudy has a low current yearly income, but has a high number of prospects

Rudy has always wanted to be a sportswriter, but would have to attend Central Community College again to achieve it. Rudy has other prospects as well, including music director, physician’s office nurse, and freight and stock handler, which pay $57,000 through to $104,000 per year, on average. For this reason, we think that Rudy can afford this student loan of $16000.

Before applying for this student loan, Rudy had an Experian score of 581, which is fair, so Bank of America, Rhode Island, National Association most likely cannot provide Rudy a student loan

Experian Score: 581

Contact Details for Bank of America, Rhode Island, National Association, the provider of this student loan

  • Bank of America, Rhode Island, National Association
  • City: Providence
  • State: Rhode Island
  • Address: 111 Westminister Street
  • County: Providence
  • Zip code: 2903

Personal Loan for a forest and conservation technician named Rudy in Providence, Rhode Island to Pay Off US Bank Cash Rewards Visa Card

Rudy had a tonne of credit card debt on their Valero Fleet Services Credit Card and their Zions Bank Visa Credit Card, and they were starting to get in over their heads. Despite Rudy’s job as a forest and conservation technician, they struggled to make payments on the $26,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Rudy was rejected by Warwick Federal Savings and Loan Association 5 times prior to being granted funding by Bank of America, Rhode Island, National Association at 111 Westminister Street

On September 23, 2012, Rudy inquired about borrowing $44,000 from Old Stone Savings Bank with Avery, their in law from just outside Providence, and even with the co-signer, Rudy was rejected for this student loan. With fair credit, it can be very hard to obtain funding, even with collateral and a co-signer.

Signature Loan found in Providence, Rhode Island for $16000 with fair credit by Rudy

Many clients struggle with obtaining signature loans in Providence, Rhode Island, and Rudy is not an exception. Rudy went to 7 lending institutions or more prior to finding Bank of America, Rhode Island, National Association, who offered Rudy a signature loan for $16000. Typical signature loans simply require a client, like Rudy’s signature to obtain them, up to $43,000 in some cases. Rudy was able to get $16000 as a student loan, which is very high for a student loan. Since signature loans don’t need a cosigner, these loans generally need improved credit, as high as 768

Previous requests on Rudy’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$102420.00 3 5.4% $3088.05 The Centreville National Bank of Warwick January 5, 2013
$101830.00 8 7.2% $1398.48 The Newport National Bank January 11, 2015
$102250.00 5 7.4% $2044.02 Fleet National Bank May 13, 2015
$102410.00 4 10.7% $2631.94 Fleet National Bank August 31, 2015

Installment loan for Rudy, a graduate of Central Community College and a forest and conservation technician working for over $60,000 per year

Rudy, an alumnus at Central Community College and a forest and conservation technician in Providence, Rhode Island needs a student loan to purchase a car. Rudy has instead chosen to obtain an installment loan for $27,000 and is currently seeking lenders like BankNewport to provide it.

When Rudy was 23, they attempted to obtain a student loan from 5 alternate lenders, which damaged their credit score. Below is a list of Rudy’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $33,000.00 on January 23, 2010
  • Attempt 2) Loan for $22,000.00 on June 4, 2009
  • Attempt 3) Loan for $39,000.00 on July 18, 2011
  • Attempt 4) Loan for $23,000.00 on January 20, 2011
  • Attempt 5) Loan for $26,000.00 on October 19, 2011

Rudy’s Overall FICO score at the time of acceptance for a student loan, taking into account their forest and conservation technician job and their future job as a sportswriter

Fico Score: 562

Conclusion of Rudy’s student loan

In the end, Rudy was able to find a student loan for $16000 with an interest rate of 11.4% interest APR from Bank of America, Rhode Island, National Association in Providence, Rhode Island repayable over 9 years from today.

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.