$18000 Secured Loan – Salem Virginia, Credit Rating Of 837
- Experian: 854 – This individual had an excellent Experian rating
- Transunion: 820 – Coral had an excellent credit score with Transunion.
- Equifax: Coral’s Experian score was 837, which is an excellent credit score on the Experian scale.
When Coral was 21, they tried to obtain a student loan from 6 alternate banks, which harmed their credit rating. Below is a list of Coral’s previous attempts at finding a student loan:
- Attempt 1) Loan for $34,000.00 on June 16, 2009
- Attempt 2) Loan for $27,000.00 on June 19, 2012
- Attempt 3) Loan for $39,000.00 on November 10, 2009
- Attempt 4) Loan for $35,000.00 on July 23, 2011
- Attempt 5) Loan for $32,000.00 on March 6, 2012
- Attempt 6) Loan for $24,000.00 on January 15, 2010
- Full name (Changed if requested): Coral Ferrington
- Current Credit: loans.hit.utils.Fico@27973e9b
- Current City: Salem
- State: Virginia
- Zip code: 24159
- Yearly income: $55,000
- Current Job: high school guidance counselor
- Current County: Salem
- Goal Yearly Income: $134,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $7000
Paraphrased and Standardized Quote from Coral for this secured loan of $18000, provided by The Bank of Virginia of the Southwest
Hello, I am Coral and I am from Salem in Virginia. Salem, county is where I grew up, and now I need a secured loan in Virginia for $18000 to pay bills. It has been difficult, but The Bank of Virginia of the Southwest really came through for me with this loan for 7.3% 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 The Bank of Virginia of the Southwest for trusting me and my excellent credit. It look me 6 years to build my credit to 837, and I won’t harm it any future. I am pleased with Find Texas Loans for helping me this far.
Several other requests for credit have been made by Coral in the past, including one from Ark Valley Independent Bank in Salem, Virginia before Coral was accepted for the $18000 by The Bank of Virginia of the Southwest
Coral made 7 previous attempts to obtain a secured loan, 2 of which were with Ark Valley Independent Bank, a lending institution in Salem, Virginia known to specialize in secured loans specifically. Before finding The Bank of Virginia of the Southwest, Coral was desperate due to their inexperience and excellent credit rating.
Coral’s Transunion score was altered by the secured loan loan, changing to 820 from 837, which is typical in our experience.
Coral’s Overall FICO score at the time of acceptance for a secured loan, taking into account their high school guidance counselor job and their future job as a history professor
Debt Consolidation Will Assist Most Deeply Indebted Borrower to Escape Bad Debts like Credit Card Debt
Average debt consolidation loans vary from $36,000.00 to $53,000.00. They are typically used to pay off existing high interest loans like credit cards. Coral needed a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Coral was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a technique in the debt snowball method which transfers your dirty, high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates as low as 2.2%.
Installment loan for Coral, a graduate of Olivet Nazarene University and a high school guidance counselor working for over $73,000 per year
Coral, an alumnus at Olivet Nazarene University and a high school guidance counselor in Salem, Virginia needs a secured loan to purchase something frivolous. Coral has instead decided to obtain an installment loan for $6,000 and is currently seeking lenders like Bank of Virginia – Potomac to process their request.
Contact Details for The Bank of Virginia of the Southwest, the provider of this secured loan
- The Bank of Virginia of the Southwest
- City: Salem
- State: Virginia
- Address: 100 East Main Street
- County: Salem
- Zip code: 24153
Coral was rejected by Bank of Virginia-Southeast 6 times before being granted funding by The Bank of Virginia of the Southwest at 100 East Main Street
On December 1, 2011, Coral applied about borrowing $10,000 from Bank of McKenney with Gregg, their in law from just outside Salem, and even with the co-signer, Coral was rejected for this secured loan. With excellent credit, it can be very hard to procure financing, even with collateral and a co-signer.
7 Months Ago, Coral Tried Finding a High Risk Loan for $20,000.00, and it was Easy
There is an ongoing struggle for clients to get high risk loans in a safe manner. a lot of high risk loans end up coming from loan sharks or the like, which can be physically harmful to borrowers like Coral. Coral chose not to get a high risk loan this time. High Risk loans are generally given by lenders to terrible credit applicants. Clients with credit ratings as low as 317 can inquire for a high risk loan and may be be approved.
Before applying for this secured loan, Coral had an Experian score of 854, which is excellent, so The Bank of Virginia of the Southwest likely cannot provide Coral a secured loan
Fast Loans for Coral in Salem, Virginia to prevent bankruptcy or bodily harm from debt collectors.
Fast loans in Salem, Virginia aren’t actually that difficult to obtain, particularly if you have some finesse like Coral. Coral was able to find a fast loan for $18000 from Riggs Bank National Association and The Bank of Fincastle, but turned down both offers in favor of their secured loan from The Bank of Virginia of the Southwest. 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 7 weeks for installment loans. An improvement if a borrower is on the go.
Previous requests on Coral’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$76220.00||8||10.5%||$1176.84||Citizens Bank and Trust Company||October 25, 2008|
|$76170.00||6||5.2%||$1233.79||Peoples Community Bank||June 12, 2012|
|$75680.00||9||5.7%||$897.41||Crestar Bank||September 2, 2014|
|$76480.00||10||6.6%||$872.31||The Merchants and Farmers Bank||December 25, 2014|
Coral has a disappointing current total income, but has a high number of prospects
Coral has always wanted to be a history professor, but would have to attend Olivet Nazarene University again to achieve it. Coral has other prospects as well, including forest fire prevention supervisor, animal husbandry worker supervisor, and real estate appraiser, which pay $59,000 through to $100,000 per year, at least. For this reason, we believe that Coral can afford this secured loan of $18000.
Signature Loan acquired in Salem, Virginia for $18000 with excellent credit by Coral
Most borrowers have difficulty with finding signature loans in Salem, Virginia, and Coral is not an exception. Coral went to 4 lenders or more before settling on The Bank of Virginia of the Southwest, who offered Coral a signature loan for $18000. Most signature loans simply need a client, like Coral’s signature to obtain them, up to $31,000 in some cases. Coral was able to get $18000 as a secured loan, which is very high for a secured loan. Since signature loans don’t require collateral, these loans generally need higher credit, as high as 736
Personal Loan for a high school guidance counselor named Coral in Salem, Virginia to Pay Off DISTANCIA Visa Secured Card
Coral had a lot of credit card debt on their LANPASS Visa Signature Card and their Bangor Savings Bank Visa Business Bonus Rewards PLUS Card, and they were starting to get in over their heads. Despite Coral’s job as a high school guidance counselor, they struggled to make payments on the $29,000.00 credit card balance, badly needing assistance in the form of a personal loan.
Conclusion of Coral’s secured loan
In the end, Coral was able to find a secured loan for $18000 with an interest rate of 8.4% interest APR from The Bank of Virginia of the Southwest in Salem, Virginia repayable over 9 years from today.