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Secured Loan For $76000 Near 65767, Missouri With A Credit Score Of 423

$76000 Secured Loan – Urbana Missouri, Credit Rating Of 423

  • Experian: 435 – The client had a bad Experian rating
  • Transunion: 407 – Stephane had a bad credit rating with Transunion.
  • Equifax: Stephane’s Experian score was 423, which is a bad credit score with the Experian scale.

Paraphrased and Standardized Quote from Stephane for this secured loan of $76000, provided by The Bank of Urbana

Hello, I am Stephane and I’m from Urbana in Missouri. Dallas, county is where I grew up, and now I need a secured loan in Missouri for $76000 to buy a car. It has been difficult, but The Bank of Urbana really came through for me with this loan for 5.5% interest APR and a term of 16 years. I can probably repay the loan over the 16 year term, including interest. A big thanks to The Bank of Urbana for trusting me and my bad credit. It look me 9 years to create my credit to 423, and I won’t harm it any more. I’m happy with Find Texas Loans for assisting me this far.

Before applying for this secured loan, Stephane had an Experian score of 435, which is bad, so The Bank of Urbana likely cannot provide Stephane a secured loan

Experian Score: 435

Stephane’s Overall FICO score at the time of acceptance for a secured loan, taking into account their contract specialist job and their future career as an economics professor

Fico Score: 423

Debt Consolidation Will Assist Most Deeply Indebted Borrower to Escape Bad Debts like Credit Card Debt

Average debt consolidation loans vary from $24,000.00 to $57,000.00. They are mainly used to pay off existing high interest loans like credit cards. Stephane needed a debt consolidation loan to pay for their existing secured loan and their credit card. Stephane was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a technique in the strategic borrowing method which converts your dirty, high interest loans to one reduced interest loan. Debt consolidation loans generally have interest rates that are low, like 4.1%.

Stephane has a disappointing current total income, but has several of prospects

Stephane has always wanted to be an economics professor, but would need attend School of the Museum of Fine Arts – Boston again to achieve it. Stephane has other prospects as well, including cost analysis engineer, systems analyst, and preschool teacher, which pay $52,000 through to $93,000 per year, on average. For this reason, we think that Stephane can pay for this secured loan of $76000.

Installment loan for Stephane, a graduate of School of the Museum of Fine Arts – Boston and a contract specialist working for over $64,000 per year

Stephane, an alumnus at School of the Museum of Fine Arts – Boston and a contract specialist in Urbana, Missouri wants a secured loan to purchase something frivolous. Stephane has instead chosen to get an installment loan for $21,000 and is at present seeking lenders like Wood & Huston Bank to provide it.

Signature Loan found in Urbana, Missouri for $76000 with bad credit by Stephane

Most borrowers struggle with obtaining signature loans in Urbana, Missouri, and Stephane is the same. Stephane went to 6 lending institutions or more before finding The Bank of Urbana, who offered Stephane a signature loan for $76000. Typical signature loans simply need a client, like Stephane’s signature to obtain them, up to $36,000 in some cases. Stephane was able to get $76000 as a secured loan, which is very high for a secured loan. Since signature loans do not require a cosigner, they generally need better credit, as high as 781

Client Profile: Stephane Madrigal of Urbana, Missouri
  • Full name (Changed if requested): Stephane Madrigal
  • Current Credit: loans.hit.utils.Fico@246b179d
  • Current City: Urbana
  • State: Missouri
  • Zip code: 65769
  • Yearly income: $42,000
  • Current Job: contract specialist
  • Current County: Dallas
  • Goal Yearly Income: $148,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000

When Stephane was 21, they attempted to obtain a student loan from 4 different lenders, which harmed their credit rating. Below is a list of Stephane’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $25,000.00 on June 8, 2013
  • Attempt 2) Loan for $35,000.00 on April 23, 2011
  • Attempt 3) Loan for $36,000.00 on April 27, 2011
  • Attempt 4) Loan for $25,000.00 on November 5, 2009

Contact Details for The Bank of Urbana, the provider of this secured loan

  • The Bank of Urbana
  • City: Urbana
  • State: Missouri
  • Address: 109 N. Main St
  • County: Dallas
  • Zip code: 65767

Stephane’s Transunion score was changed by the secured loan loan, changing to 407 from 423, which is normal in our experience.

Transunion Score: 407

Stephane was declined by Mercantile Bank National Association 7 times prior to being approved by The Bank of Urbana at 109 N. Main St

On October 14, 2010, Stephane inquired about borrowing $11,000 from Camden County Bank with Leighann, their in law from just outside Urbana, and even with the co-signer, Stephane was rejected for this secured loan. With bad credit, it can be very hard to procure financing, even with collateral and a co-signer.

9 Months Ago, Stephane Attempted Finding a High Risk Loan for $32,000.00, and it was Easy

There is an ongoing struggle for clients to find high risk loans in a safe way. a lot of high risk loans end up originating loan sharks or similar lenders, which can be physically harmful to borrowers like Stephane. Stephane chose not to get a high risk loan this time. High Risk loans are given to very low credit clients. Individuals with credit scores as low as 591 can inquire for a high risk loan and possibly can be approved.

Personal Loan for a contract specialist named Stephane in Urbana, Missouri to Pay Off QuikTrip Credit Cards

Stephane had a tonne of credit card debt on their USAA Cash Rewards World MasterCard and their Central Illinois Credit Union Visa Card, and they were starting to get in over their heads. Despite Stephane’s job as a contract specialist, they struggled to make payments on the $22,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Fast Loans for Stephane in Urbana, Missouri to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Urbana, Missouri aren’t actually that difficult to obtain, particularly if you have some finesse like Stephane. Stephane was able to find a fast loan for $76000 from Central Bank and Normandy Bank, but declined both offers in favor of their secured loan from The Bank of Urbana. The difference with a fast loan over a personal loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 7 weeks for debt consolidation loans. A big improvement in the case that a client is on the go.

Several other requests for credit have been made by Stephane in the past, including one from The Oakwood State Bank in Urbana, Missouri before Stephane was approved for the $76000 by The Bank of Urbana

Stephane made 4 previous tries to obtain a secured loan, 2 of which were with The Oakwood State Bank, a lending institution in Urbana, Missouri known to specialize in secured loans specifically. Prior to finding The Bank of Urbana, Stephane was desperate due to their inexperience and bad credit rating.

Previous requests on Stephane’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$66590.00 5 11.7% $1471.18 Camden County Bank March 20, 2009
$67200.00 9 6.2% $813.45 Glasgow Savings Bank February 23, 2010
$67410.00 8 9.4% $1001.61 Central Bank December 3, 2012
$67350.00 9 10.6% $970.22 Midwest BankCentre June 14, 2014
$67100.00 8 11.3% $1064.92 Commerce Bank of Richmond Heights December 10, 2014

Conclusion of Stephane’s secured loan

In the end, Stephane was able to find a secured loan for $76000 with an interest rate of 6.5% interest APR from The Bank of Urbana in Urbana, Missouri repayable over 16 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.