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Secured Loan Of $78000 For Bad Credit Georgia Resident

$78000 Secured Loan – Atlanta Georgia, Credit Score Of 404

  • Experian: 421 – The client had a bad Experian score
  • Transunion: 390 – Katy had a bad credit rating with Transunion.
  • Equifax: Katy’s Experian score was 404, which is a bad credit score using the Experian system.

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

Normal debt consolidation loans range from $32,000.00 to $41,000.00. They are normally used to pay off existing high interest loans like credit cards. Katy needed a debt consolidation loan to pay for their existing secured loan and their payday loan. Katy was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a technique in the strategic borrowing method which changes your less desirable, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates as low as 4.3%.

6 Months Ago, Katy Attempted to Find a High Risk Loan for $47,000.00, and it was Hard

There is an ongoing struggle for borrowers to get 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 scary to borrowers like Katy. Katy chose not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to very low credit individuals. Clients with credit ratings as low as 539 can inquire for a high risk loan and possibly can be approved.

Katy was not approved by Bank of Hazlehurst 7 times prior to being approved by Security First Network Bank at 3390 Peachtree Road

On December 12, 2009, Katy applied about borrowing $17,000 from The Peoples Bank with Matthew, their in law from just outside Atlanta, and even with the co-signer, Katy was rejected for this secured loan. With bad credit, it can be a challenge to obtain financing, even with collateral and a co-signer.

Katy has a very low current total income, but has several of prospects

Katy has always wanted to be a motorboat mechanic, but would need attend Albany Technical College again to achieve it. Katy has other possibilities as well, including educational psychologist, farm products purchasing agent, and script editor, which pay $57,000 through to $109,000 per year, at least. Because of this, we think that Katy can pay for this secured loan of $78000.

Personal Loan for an education and training administrator named Katy in Atlanta, Georgia to Pay Off Stephen F. Austin Alumni Association Platinum Plus MasterCard with WorldPoints Rewards

Katy had a lot of credit card debt on their BB&T Visa Purchasing Card and their American Savings Bank Secured Visa Card, and they were starting to get in over their heads. Despite Katy’s job as an education and training administrator, they struggled to make payments on the $23,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Katy’s Transunion score was changed by the secured loan loan, changing to 390 from 404, which is normal in our experience.

Transunion Score: 390

Before applying for this secured loan, Katy had an Experian score of 421, which is bad, so Security First Network Bank most likely cannot provide Katy a secured loan

Experian Score: 421

Client Profile: Katy Kramm of Atlanta, Georgia
  • Full name (Changed if requested): Katy Kramm
  • Current Credit: loans.hit.utils.Fico@9807454
  • Current City: Atlanta
  • State: Georgia
  • Zip code: 30328
  • Yearly income: $30,000
  • Current Job: education and training administrator
  • Current County: Fulton
  • Goal Yearly Income: $118,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000

When Katy was 19, they attempted to obtain a student loan from 7 different lenders, which harmed their credit rating. Below is a chronology of Katy’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $38,000.00 on November 13, 2008
  • Attempt 2) Loan for $37,000.00 on October 26, 2011
  • Attempt 3) Loan for $37,000.00 on October 5, 2012
  • Attempt 4) Loan for $22,000.00 on March 24, 2011
  • Attempt 5) Loan for $21,000.00 on June 12, 2010
  • Attempt 6) Loan for $39,000.00 on June 21, 2010
  • Attempt 7) Loan for $24,000.00 on November 6, 2009

Multiple other requests for credit have been made by Katy in the past, including one from Star Bank, National Association in Atlanta, Georgia before Katy was accepted for the $78000 by Security First Network Bank

Katy made 4 prior attempts to obtain a secured loan, 2 of which were with Star Bank, National Association, a bank in Atlanta, Georgia known to specialize in secured loans specifically. Before finding Security First Network Bank, Katy was concerned due to their inexperience and bad credit score.

Signature Loan acquired in Atlanta, Georgia for $78000 with bad credit by Katy

Many prospective borrowers have difficulty with obtaining signature loans in Atlanta, Georgia, and Katy is no exception. Katy went to 7 lenders or more prior to finding Security First Network Bank, who offered Katy a signature loan for $78000. Typical signature loans simply require a client, like Katy’s signature to get them, up to $20,000 in some cases. Katy was able to get $78000 as a secured loan, which is very high for a secured loan. Since signature loans don’t require collateral, these loans tend to need better credit, as high as 767

Installment loan for Katy, a graduate of Albany Technical College and an education and training administrator working for over $77,000 per year

Katy, an alumnus at Albany Technical College and an education and training administrator in Atlanta, Georgia wants a secured loan to purchase a house. Katy has instead decided to get an installment loan for $10,000 and is at present seeking lenders like Bank of Morgan County to process their request.

Previous requests on Katy’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$62310.00 3 11.4% $2051.77 NationsBank of Florida, National Association January 30, 2013
$62340.00 10 10.3% $834.22 Century Bank and Trust April 9, 2014
$61850.00 4 7.7% $1501.24 Bank of Madison January 13, 2015
$62200.00 11 11.1% $817.95 Bank of Hazlehurst April 23, 2015
$62460.00 8 11.7% $1004.89 The Citizens and Southern Bank of Dublin April 26, 2015

Katy’s Overall FICO score at the time of acceptance for a secured loan, taking into account their education and training administrator job and their future career as a motorboat mechanic

Fico Score: 404

Contact Details for Security First Network Bank, the provider of this secured loan

  • Security First Network Bank
  • City: Atlanta
  • State: Georgia
  • Address: 3390 Peachtree Road
  • County: Fulton
  • Zip code: 30326

Paraphrased and Standardized Quote from Katy for this secured loan of $78000, provided by Security First Network Bank

Hi, I am Katy and my hometown is Atlanta in Georgia. Fulton, county is where I grew up, and now I need a secured loan in Georgia for $78000 to pay bills. It has been difficult, but Security First Network Bank really came through for me with this loan for 8.7% interest APR and a term of 5 years. I will repay the loan over the 5 year term, including interest. A big thanks to Security First Network Bank for giving me a chance and my bad credit. It look me 8 years to build my credit to 404, and I won’t harm it any more. I am pleased with Find Texas Loans for helping me this far.

Fast Loans for Katy in Atlanta, Georgia to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Atlanta, Georgia aren’t actually that difficult to obtain, especially if you have some gumption like Katy. Katy was able to find a fast loan for $78000 from Roswell Bank and Bank of Madison, but declined both offers in favor of their secured loan from Security First Network Bank. The difference with a fast loan over a installment loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 6 weeks for personal loans. A big difference if a client is on the go.

Conclusion of Katy’s secured loan

In the end, Katy was able to find a secured loan for $78000 with an interest rate of 8.2% interest APR from Security First Network Bank in Atlanta, Georgia repayable over 5 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.