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Violet Needed A Secured Loan For $172000, Erie, Pennsylvania

$172000 Secured Loan – Erie Pennsylvania, Credit Rating Of 486

  • Experian: 503 – The client had a bad Experian rating
  • Transunion: 473 – Violet had a bad credit rating with Transunion.
  • Equifax: Violet’s Experian score was 486, which is a bad credit rating using the Experian system.

Fast Loans for Violet in Erie, Pennsylvania to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Erie, Pennsylvania aren’t actually that difficult to obtain, particularly if you have some finesse like Violet. Violet was able to find a fast loan for $172000 from Liberty State Bank, Mount Carmel, Pa. and Mercer County State Bank, but declined both offers in favor of their secured loan from Marquette Savings Bank. The difference with a fast loan over a personal loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 7 weeks for personal loans. Much better in the case that a borrower is on the go.

Signature Loan found in Erie, Pennsylvania for $172000 with bad credit by Violet

A lot of borrowers have difficulty with finding signature loans in Erie, Pennsylvania, and Violet is not an exception. Violet went to 5 lenders or more prior to finding Marquette Savings Bank, who offered Violet a signature loan for $172000. Most signature loans simply need a client, like Violet’s signature to obtain them, up to $30,000 in some cases. Violet was able to get $172000 as a secured loan, which is very high for a secured loan. Since signature loans do not need a cosigner, they tend to need better credit, as high as 749

Personal Loan for a foreign service officer named Violet in Erie, Pennsylvania to Pay Off Shell Platinum MasterCard

Violet had a lot of credit card debt on their Staples Commercial Billing Account and their Boscov’s Credit Card, and they were starting to get in over their heads. Despite Violet’s job as a foreign service officer, they struggled to make payments on the $25,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

When Violet was 21, they attempted to obtain a student loan from 4 different banks, which damaged their credit score. Below is a chronology of Violet’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $29,000.00 on December 16, 2009
  • Attempt 2) Loan for $26,000.00 on September 4, 2010
  • Attempt 3) Loan for $20,000.00 on March 3, 2009
  • Attempt 4) Loan for $26,000.00 on April 13, 2010

Contact Details for Marquette Savings Bank, the provider of this secured loan

  • Marquette Savings Bank
  • City: Erie
  • State: Pennsylvania
  • Address: 920 Peach Street
  • County: Erie
  • Zip code: 16501
Client Profile: Violet Birkey of Erie, Pennsylvania
  • Full name (Changed if requested): Violet Birkey
  • Current Credit: loans.hit.utils.Fico@2dda6444
  • Current City: Erie
  • State: Pennsylvania
  • Zip code: 16504
  • Yearly income: $66,000
  • Current Job: foreign service officer
  • Current County: Erie
  • Goal Yearly Income: $104,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $0

Violet’s Transunion score was altered by the secured loan loan, changing to 473 from 486, which is typical in our experience.

Transunion Score: 473

Paraphrased and Standardized Quote from Violet for this secured loan of $172000, provided by Marquette Savings Bank

Hello, I am Violet and I’m from Erie in Pennsylvania. Erie, county is where I grew up, and now I need a secured loan in Pennsylvania for $172000 to buy a car. It has been difficult, but Marquette Savings Bank really came through for me with this loan for 8.0% interest APR and a term of 17 years. I can probably repay the loan over the 17 year term, including interest. A big thanks to Marquette Savings Bank for trusting me and my bad credit. It look me 6 years to build my credit to 486, and I won’t tarnish it any future. I’m pleased with Find Texas Loans for assisting me this far.

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

Most debt consolidation loans range from $26,000.00 to $43,000.00. They are normally used to pay off existing high interest loans like credit cards. Violet required a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Violet was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a technique in the debt snowball method which transfers your less desirable, high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 2.0%.

Installment loan for Violet, a graduate of Indiana Wesleyan University and a foreign service officer working for over $62,000 per year

Violet, an alumnus at Indiana Wesleyan University and a foreign service officer in Erie, Pennsylvania wants a secured loan to purchase a new cell phone. Violet has instead chosen to get an installment loan for $5,000 and is currently seeking lenders like Elizabethtown Trust Company to process their request.

Violet’s Overall FICO score at the time of acceptance for a secured loan, taking into account their foreign service officer job and their future job as a printing/graphic arts reproduction technician

Fico Score: 486

Violet has a sad current yearly income, but has a high number of prospects

Violet has always wanted to be a printing/graphic arts reproduction technician, but would need attend Indiana Wesleyan University again to achieve it. Violet has other prospects as well, including excavating machine operator, political scientist, and registrar administrator, which pay $51,000 through to $105,000 per year, on average. For this reason, we think that Violet can afford this secured loan of $172000.

Before applying for this secured loan, Violet had an Experian score of 503, which is bad, so Marquette Savings Bank most likely can provide Violet a secured loan

Experian Score: 503

Violet was not approved by Corestates Bank, National Association 4 times before being accepted by Marquette Savings Bank at 920 Peach Street

On November 16, 2010, Violet applied about borrowing $38,000 from Saucon Valley Trust Company with Carolyn, their in law from just outside Erie, and even with the co-signer, Violet was rejected for this secured loan. With bad credit, it can be very hard to obtain financing, even with collateral and a co-signer.

Previous requests on Violet’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$70490.00 9 8.7% $943.47 The People’s Bank of Oxford May 29, 2012
$70310.00 3 8.4% $2216.26 First Lehigh Bank October 25, 2013
$69620.00 6 5.6% $1140.7 SunBank June 13, 2014
$70300.00 11 6.2% $735.99 Merchants Bank (North) September 20, 2014
$70140.00 8 7.6% $977.35 Green Ridge Bank November 5, 2014

6 Months in the Past, Violet Tried Finding a High Risk Loan for $39,000.00, but They Didn’t Find What They were Expecting

There is an ongoing struggle for borrowers to get high risk loans in a safe way. Many high risk loans end up coming from loan sharks or the like, which can be physically harmful to borrowers like Violet. Violet chose not to get a high risk loan this time. High Risk loans are given to very low credit applicants. Clients with credit ratings as low as 561 can inquire for a high risk loan and have a chance to be approved.

Multiple past requests for credit have been made by Violet in the past, including one from Trust Company Bank of South Georgia, National Association in Erie, Pennsylvania before Violet was accepted for the $172000 by Marquette Savings Bank

Violet made 5 previous attempts to obtain a secured loan, 2 of which were with Trust Company Bank of South Georgia, National Association, a bank in Erie, Pennsylvania known to specialize in secured loans specifically. Prior to finding Marquette Savings Bank, Violet was very concerned due to their inexperience and bad credit rating.

Conclusion of Violet’s secured loan

In the end, Violet was able to find a secured loan for $172000 with an interest rate of 9.6% interest APR from Marquette Savings Bank in Erie, Pennsylvania repayable over 17 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.