$42000 Secured Loan – Purcell Oklahoma, Credit Score Of 400
- Experian: 418 – They had a bad Experian score
- Transunion: 381 – Charita had a bad credit rating with Transunion.
- Equifax: Charita’s Experian score was 400, which is a bad credit rating on the Experian rating scheme.
Charita’s Transunion score was altered by the secured loan loan, changing to 381 from 400, which is typical in our experience.
Debt Consolidation Will Assist Most Highly Indebted Borrower to Escape Bad Debts like Credit Card Debt
Most debt consolidation loans vary from $31,000.00 to $57,000.00. They are normally used to pay off existing high interest loans like credit cards. Charita required a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Charita was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a tactic in the strategic borrowing method which changes your less desirable, high interest loans to a single lower interest loan. Debt consolidation loans usually have interest rates as low as 2.3%.
Charita was rejected by Security Bank and Trust Company 4 times before being approved by McClain Bank at 131 West Main Street
On February 26, 2014, Charita applied about borrowing $1,000 from The Citizens State Bank with Gay, their in law from just outside Purcell, and even with the co-signer, Charita was rejected for this secured loan. With bad credit, it can be very hard to obtain financing, even with collateral and a co-signer.
Signature Loan found in Purcell, Oklahoma for $42000 with bad credit by Charita
Many prospective borrowers have difficulty with obtaining signature loans in Purcell, Oklahoma, and Charita is not an exception. Charita went to 6 lenders or more prior to settling on McClain Bank, who offered Charita a signature loan for $42000. Most signature loans simply require a client, like Charita’s signature to obtain them, up to $42,000 in some cases. Charita was able to get $42000 as a secured loan, which is very high for a secured loan. Since signature loans do not need a cosigner, these loans tend to require higher credit, as high as 736
Installment loan for Charita, a graduate of Shorter University and a photo-optics technician working for over $70,000 per year
Charita, an alumnus at Shorter University and a photo-optics technician in Purcell, Oklahoma wants a secured loan to purchase something frivolous. Charita has instead chosen to obtain an installment loan for $28,000 and is at present seeking lenders like The First State Bank to process their request.
Multiple other requests for credit have been made by Charita in the past, including one from Valley Bank in Purcell, Oklahoma before Charita was approved for the $42000 by McClain Bank
Charita made 9 previous attempts to obtain a secured loan, 2 of which were with Valley Bank, a bank in Purcell, Oklahoma known to specialize in secured loans specifically. Before finding McClain Bank, Charita was very concerned due to their inexperience and bad credit rating.
8 Months Ago, Charita Attempted to Find a High Risk Loan for $23,000.00, but They Didn’t Find What They were Expecting
It is an ongoing struggle for borrowers to find high risk loans in a non-harmful manner. a lot of high risk loans end up originating loan sharks or similar lenders, which can be frightening to borrowers like Charita. Charita decided not to obtain a high risk loan this time. High Risk loans are generally given by lenders to terrible credit borrowers. Borrowers with credit ratings as low as 461 can inquire for a high risk loan and have a chance to be accepted.
Charita has a very low current yearly income, but has a large amount of prospects
Charita has always wanted to be a communications professor, but would have to attend Shorter University again to achieve it. Charita has other possibilities as well, including traffic agent, vocational education teachers, and automobile mechanic, which pay $50,000 through to $100,000 per year, at least. Because of this, we believe that Charita can afford this secured loan of $42000.
Previous requests on Charita’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$97460.00||5||6.4%||$1902.36||The First State Bank||November 11, 2012|
|$96540.00||8||8.2%||$1374.59||Security Bank and Trust Company||February 28, 2013|
|$97320.00||4||5.3%||$2254.46||The First State Bank, Willow, Okla.||June 8, 2014|
|$97350.00||6||10.8%||$1843.01||Sooner State Bank||March 16, 2015|
|$97480.00||6||10.2%||$1815.75||The Farmers State Bank||July 2, 2015|
Before applying for this secured loan, Charita had an Experian score of 418, which is bad, so McClain Bank most likely cannot provide Charita a secured loan
Fast Loans for Charita in Purcell, Oklahoma to prevent bankruptcy or broken legs from debt collectors.
Fast loans in Purcell, Oklahoma aren’t actually that difficult to obtain, particularly if you have some finesse like Charita. Charita was able to find a fast loan for $42000 from The Citizens State Bank and American Exchange Bank, but declined both offers in favor of their secured loan from McClain Bank. The difference with a fast loan over a installment loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 7 weeks for personal loans. A big difference in the case that a client is in a pinch.
Contact Details for McClain Bank, the provider of this secured loan
- McClain Bank
- City: Purcell
- State: Oklahoma
- Address: 131 West Main Street
- County: Mcclain
- Zip code: 73080
Personal Loan for a photo-optics technician named Charita in Purcell, Oklahoma to Pay Off Briggs & Stratton Credit Card
Charita had a lot of credit card debt on their Lufthansa Premier Miles & More World MasterCard and their Ventura County Credit Union Visa Cards, and they were starting to get in over their heads. Despite Charita’s job as a photo-optics technician, they struggled to make payments on the $26,000.00 credit card balance, badly needing assistance in the form of a personal loan.
When Charita was 19, they attempted to obtain a student loan from 5 alternate lenders, which harmed their credit rating. Below is a chronology of Charita’s prior attempts at finding a student loan:
- Attempt 1) Loan for $21,000.00 on September 18, 2009
- Attempt 2) Loan for $36,000.00 on March 26, 2012
- Attempt 3) Loan for $38,000.00 on May 25, 2011
- Attempt 4) Loan for $29,000.00 on April 11, 2009
- Attempt 5) Loan for $25,000.00 on July 18, 2010
Charita’s Overall FICO score at the time of acceptance for a secured loan, taking into account their photo-optics technician job and their future job as a communications professor
Paraphrased and Standardized Quote from Charita for this secured loan of $42000, provided by McClain Bank
Hello, I am Charita and I’m from Purcell in Oklahoma. Mcclain, county is where I grew up, and now I need a secured loan in Oklahoma for $42000 to renovate my home. It wasn’t easy, but McClain Bank really came through for me with this loan for 7.6% interest APR and a term of 7 years. I can probably repay the loan over the 7 year term, including interest. A big thanks to McClain Bank for trusting me and my bad credit. It look me 9 years to build my credit to 400, and I won’t tarnish it any more. I’m happy with Find Texas Loans for helping me this far.
- Full name (Changed if requested): Charita Pascall
- Current Credit: loans.hit.utils.Fico@37a71e93
- Current City: Purcell
- State: Oklahoma
- Zip code: 73085
- Yearly income: $49,000
- Current Job: photo-optics technician
- Current County: Mcclain
- Goal Yearly Income: $114,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $9000
Conclusion of Charita’s secured loan
In the end, Charita was able to find a secured loan for $42000 with an interest rate of 11.3% interest APR from McClain Bank in Purcell, Oklahoma repayable over 7 years from today.