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Secured Loan Of $120000 For Good Credit Connecticut Resident

$120000 Secured Loan – Waterbury Connecticut, Credit Score Of 704

  • Experian: 719 – The client had a good Experian rating
  • Transunion: 686 – Willy had a good credit score with Transunion.
  • Equifax: Willy’s Experian score was 704, which is a good credit score on the Experian scale.

6 Months Ago, Willy Attempted Finding a High Risk Loan for $35,000.00, and it was Easy

It is an existing struggle for borrowers to find high risk loans in a safe manner. Many high risk loans end up originating loan sharks or the like, which can be scary to borrowers like Willy. Willy decided not to obtain a high risk loan this time. High Risk loans are given to very low credit clients. Clients with credit ratings as low as 466 can apply for a high risk loan and may be be accepted.

Willy’s Overall FICO score at the time of acceptance for a secured loan, taking into account their business professor job and their future career as an animal control worker

Fico Score: 704

Debt Consolidation Can Assist Most Deeply Indebted Borrower to Escape Bad Debts like Payday Loans

Normal debt consolidation loans vary from $34,000.00 to $45,000.00. They are normally used to pay off existing high interest loans like credit cards. Willy required a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Willy was able to find a secured loan in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which converts your dirty, catastrophically high interest loans to a single reduced interest loan. Debt consolidation loans generally have interest rates as low as 2.7%.

Before applying for this secured loan, Willy had an Experian score of 719, which is good, so Colonial Bank of Waterbury likely can provide Willy a secured loan

Experian Score: 719

Fast Loans for Willy in Waterbury, Connecticut to prevent bankruptcy or harm from debt collectors.

Fast loans in Waterbury, Connecticut aren’t actually that difficult to obtain, particularly if you have some gumption like Willy. Willy was able to find a fast loan for $120000 from The Guaranty Bank and Trust Company and The North Side Bank and Trust Company, but turned down both offers in favor of their secured loan from Colonial Bank of Waterbury. The improvement with a fast loan over a debt consolidation loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 6 weeks for installment loans. A big improvement in the case that a borrower is in a pinch.

Installment loan for Willy, a graduate of University of Texas Health Science San Antonio and a business professor working for over $77,000 per year

Willy, an alumnus at University of Texas Health Science San Antonio and a business professor in Waterbury, Connecticut needs a secured loan to purchase a car. Willy has instead decided to get an installment loan for $13,000 and is currently seeking lenders like The Connecticut National Bank to provide it.

Previous requests on Willy’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$99240.00 10 6.4% $1121.81 Colonial Bank of Waterbury July 13, 2009
$99290.00 4 5.2% $2295.58 The Canaan National Bank June 18, 2010
$99190.00 3 9.1% $3158.83 The Clinton National Bank April 5, 2013
$99460.00 10 5.7% $1089.29 Deep River Bank and Trust Company May 21, 2013

Personal Loan for a business professor named Willy in Waterbury, Connecticut to Pay Off Princeton University Platinum Plus MasterCard with WorldPoints Rewards

Willy had a lot of credit card debt on their Budweiser Specialty Rewards Visa Platinum Card and their Fifth Third Bank Cash Rewards MasterCard, and they were starting to get in over their heads. Despite Willy’s job as a business professor, they struggled to make payments on the $23,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Willy has a sad current total income, but has several of prospects

Willy has always wanted to be an animal control worker, but would need attend University of Texas Health Science San Antonio again to achieve it. Willy has other prospects as well, including budget accountant, occupational safety & health inspector, and education and training administrator, which pay $51,000 through to $101,000 per year, at least. Because of this, we believe that Willy can pay for this secured loan of $120000.

Paraphrased and Standardized Quote from Willy for this secured loan of $120000, provided by Colonial Bank of Waterbury

Hi, I am Willy and my hometown is Waterbury in Connecticut. New Haven, county is where I grew up, and now I need a secured loan in Connecticut for $120000 to renovate my home. It wasn’t easy, but Colonial Bank of Waterbury really came through for me with this loan for 11.5% interest APR and a term of 24 years. I will repay the loan over the 24 year term, including interest. A big thanks to Colonial Bank of Waterbury for giving me a chance and my good credit. It look me 9 years to build my credit to 704, and I won’t tarnish it any more. I am pleased with Find Texas Loans for helping me this far.

Client Profile: Willy Wice of Waterbury, Connecticut
  • Full name (Changed if requested): Willy Wice
  • Current Credit: loans.hit.utils.Fico@312b1dae
  • Current City: Waterbury
  • State: Connecticut
  • Zip code: 6725
  • Yearly income: $55,000
  • Current Job: business professor
  • Current County: New Haven
  • Goal Yearly Income: $91,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $0

Signature Loan acquired in Waterbury, Connecticut for $120000 with good credit by Willy

A lot of borrowers struggle with obtaining signature loans in Waterbury, Connecticut, and Willy is no different. Willy went to 7 lenders or more prior to finding Colonial Bank of Waterbury, who offered Willy a signature loan for $120000. Typical signature loans simply require a client, like Willy’s signature to obtain them, up to $35,000 in some cases. Willy was able to get $120000 as a secured loan, which is very high for a secured loan. Since signature loans do not need a cosigner, these loans generally need better credit, as high as 733

Willy’s Transunion score was changed by the secured loan loan, changing to 686 from 704, which is normal in our experience.

Transunion Score: 686

Willy was rejected by The Westport Bank and Trust Company 6 times prior to being approved by Colonial Bank of Waterbury at 81 West Main Street

On December 23, 2012, Willy applied about borrowing $27,000 from The Merchants Bank and Trust Company with Lilliam, their in law from just outside Waterbury, and even with the co-signer, Willy was rejected for this secured loan. With good credit, it can be a challenge to obtain financing, even with collateral and a co-signer.

Contact Details for Colonial Bank of Waterbury, the provider of this secured loan

  • Colonial Bank of Waterbury
  • City: Waterbury
  • State: Connecticut
  • Address: 81 West Main Street
  • County: New Haven
  • Zip code: 6720

When Willy was 23, they tried to obtain a student loan from 6 alternate lenders, which harmed their credit score. Below is a list of Willy’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $39,000.00 on March 10, 2010
  • Attempt 2) Loan for $20,000.00 on June 15, 2011
  • Attempt 3) Loan for $35,000.00 on November 8, 2012
  • Attempt 4) Loan for $20,000.00 on January 30, 2012
  • Attempt 5) Loan for $33,000.00 on October 19, 2008
  • Attempt 6) Loan for $37,000.00 on August 26, 2010

Several other requests for credit have been made by Willy in the past, including one from First National Bank of Wise in Waterbury, Connecticut before Willy was approved for the $120000 by Colonial Bank of Waterbury

Willy made 8 prior attempts to obtain a secured loan, 2 of which were with First National Bank of Wise, a lending institution in Waterbury, Connecticut known to specialize in secured loans specifically. Before finding Colonial Bank of Waterbury, Willy was very concerned due to their inexperience and good credit rating.

Conclusion of Willy’s secured loan

In the end, Willy was able to find a secured loan for $120000 with an interest rate of 5.6% interest APR from Colonial Bank of Waterbury in Waterbury, Connecticut repayable over 24 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.