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Secured Loan Of $26000 For Terrible Credit Nebraska Resident

$26000 Secured Loan – York Nebraska, Credit Score Of 377

  • Experian: 393 – This client had a terrible Experian rating
  • Transunion: 364 – Mitchel had a terrible credit score with Transunion.
  • Equifax: Mitchel’s Experian score was 377, which is a terrible credit score using the Experian scale.

Previous requests on Mitchel’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$115670.00 4 9.2% $2889.45 Citizens Bank December 16, 2010
$116490.00 10 7.1% $1358.56 Stromsburg Bank September 16, 2011
$116400.00 7 11.1% $1999.18 Wahoo State Bank January 30, 2013
$115630.00 7 9.7% $1901.72 Arlington State Bank September 24, 2014

Mitchel’s Overall FICO score at the time of acceptance for a secured loan, taking into account their dental assistant job and their future career as a mental health counselor

Fico Score: 377

Mitchel’s Transunion score was changed by the secured loan loan, changing to 364 from 377, which is typical in our experience.

Transunion Score: 364

6 Months Ago, Mitchel Attempted to Find a High Risk Loan for $24,000.00, and it was Hard

It is an well known struggle for borrowers to get 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 Mitchel. Mitchel chose not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to bad credit borrowers. Clients with credit ratings as low as 332 can inquire for a high risk loan and may be be accepted.

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

Normal debt consolidation loans vary from $30,000.00 to $42,000.00. They are normally used to pay off existing high interest loans like credit cards. Mitchel needed a debt consolidation loan to pay for their existing secured loan and their credit card. Mitchel was able to find a secured loan in the end. Debt consolidation, or simply consolidation, is a tactic in the debt snowball method which transfers your dirty, catastrophically high interest loans to one lower interest loan. Debt consolidation loans usually have interest rates that are low, like 4.0%.

Paraphrased and Standardized Quote from Mitchel for this secured loan of $26000, provided by First Federal Savings and Loan Association of York

Hi, I am Mitchel and I’m from York in Nebraska. York, county is where I grew up, and now I need a secured loan in Nebraska for $26000 to pay bills. It wasn’t easy, but First Federal Savings and Loan Association of York really came through for me with this loan for 11.7% interest APR and a term of 19 years. I will repay the loan over the 19 year term, including interest. A big thanks to First Federal Savings and Loan Association of York for trusting me and my terrible credit. It look me 8 years to create my credit to 377, and I won’t harm it any more. I’m happy with Find Texas Loans for helping me this far.

Many other requests for credit have been made by Mitchel in the past, including one from American State Bank in York, Nebraska before Mitchel was accepted for the $26000 by First Federal Savings and Loan Association of York

Mitchel made 9 previous attempts to obtain a secured loan, 2 of which were with American State Bank, a bank in York, Nebraska known to specialize in secured loans specifically. Prior to finding First Federal Savings and Loan Association of York, Mitchel was very concerned due to their inexperience and terrible credit score.

When Mitchel was 20, they tried to obtain a student loan from 6 alternate lenders, which harmed their credit score. Below is a list of Mitchel’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $28,000.00 on May 28, 2011
  • Attempt 2) Loan for $29,000.00 on April 14, 2012
  • Attempt 3) Loan for $22,000.00 on January 14, 2012
  • Attempt 4) Loan for $32,000.00 on March 25, 2009
  • Attempt 5) Loan for $28,000.00 on March 14, 2009
  • Attempt 6) Loan for $37,000.00 on February 28, 2012

Contact Details for First Federal Savings and Loan Association of York, the provider of this secured loan

  • First Federal Savings and Loan Association of York
  • City: York
  • State: Nebraska
  • Address: 100 East 4th Street
  • County: York
  • Zip code: 68467

Signature Loan found in York, Nebraska for $26000 with terrible credit by Mitchel

Most prospective borrowers struggle with finding signature loans in York, Nebraska, and Mitchel is the same. Mitchel went to 8 lenders or more prior to settling on First Federal Savings and Loan Association of York, who offered Mitchel a signature loan for $26000. Most signature loans simply need a client, like Mitchel’s signature to obtain them, up to $35,000 in some cases. Mitchel was able to get $26000 as a secured loan, which is very high for a secured loan. Because signature loans do not need a cosigner, they tend to need better credit, as high as 770

Fast Loans for Mitchel in York, Nebraska to prevent bankruptcy or harm from debt collectors.

Fast loans in York, Nebraska aren’t actually that difficult to obtain, especially if you have some gumption like Mitchel. Mitchel was able to find a fast loan for $26000 from The First National Bank of Bayard and The First National Bank of Albion, but declined both offers in favor of their secured loan from First Federal Savings and Loan Association of York. The improvement with a fast loan over a debt consolidation loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 7 weeks for debt consolidation loans. An improvement in the case that a client is on the go.

Mitchel has a very low current total income, but has a high number of prospects

Mitchel has always wanted to be a mental health counselor, but would have to attend New England College again to become one. Mitchel has other prospects as well, including manual arts therapist, park naturalist, and bicycle mechanic, which pay $56,000 through to $98,000 per year, on average. Because of this, we believe that Mitchel can pay for this secured loan of $26000.

Personal Loan for a dental assistant named Mitchel in York, Nebraska to Pay Off Citgo Celebrity Credit Card

Mitchel had a tonne of credit card debt on their NBT Bank Visa Secured Card and their Plains Commerce Bank Visa Gold Card, and they were starting to get in over their heads. Despite Mitchel’s job as a dental assistant, they struggled to make payments on the $23,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Installment loan for Mitchel, a graduate of New England College and a dental assistant working for over $69,000 per year

Mitchel, an alumnus at New England College and a dental assistant in York, Nebraska needs a secured loan to purchase a house. Mitchel has instead decided to get an installment loan for $25,000 and is currently seeking lenders like Alliance National Bank and Trust Company to process their request.

Client Profile: Mitchel Belter of York, Nebraska
  • Full name (Changed if requested): Mitchel Belter
  • Current Credit: loans.hit.utils.Fico@1ddc4ec2
  • Current City: York
  • State: Nebraska
  • Zip code: 68473
  • Yearly income: $67,000
  • Current Job: dental assistant
  • Current County: York
  • Goal Yearly Income: $130,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $7000

Before applying for this secured loan, Mitchel had an Experian score of 393, which is terrible, so First Federal Savings and Loan Association of York probably cannot provide Mitchel a secured loan

Experian Score: 393

Mitchel was declined by Town & Country Bank 7 times prior to being approved by First Federal Savings and Loan Association of York at 100 East 4th Street

On December 4, 2013, Mitchel applied about borrowing $1,000 from Town & Country Bank with Stephan, their in law from just outside York, and even with the co-signer, Mitchel was rejected for this secured loan. With terrible credit, it can be difficult to procure funding, even with collateral and a co-signer.

Conclusion of Mitchel’s secured loan

In the end, Mitchel was able to find a secured loan for $26000 with an interest rate of 6.2% interest APR from First Federal Savings and Loan Association of York in York, Nebraska repayable over 19 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.