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$164000 High Risk Loan With Terrible Credit In Olney Texas

$164000 High Risk Loan – Olney Texas, Credit Score Of 370

  • Experian: 389 – The client had a terrible Experian score
  • Transunion: 355 – Georgeann had a terrible credit rating with Transunion.
  • Equifax: Georgeann’s Experian score was 370, which is a terrible credit rating on the Experian rating scheme.
Client Profile: Georgeann Dahlstrom of Olney, Texas
  • Full name (Changed if requested): Georgeann Dahlstrom
  • Current Credit: loans.hit.utils.Fico@7e0b37bc
  • Current City: Olney
  • State: Texas
  • Zip code: 76377
  • Yearly income: $42,000
  • Current Job: restaurant manager
  • Current County: Young
  • Goal Yearly Income: $102,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $4000

Contact Details for Olney Savings Association, the provider of this high risk loan

  • Olney Savings Association
  • City: Olney
  • State: Texas
  • Address: 300 E Main
  • County: Young
  • Zip code: 76374

Fast Loans for Georgeann in Olney, Texas to prevent bankruptcy or harm from debt collectors.

Fast loans in Olney, Texas aren’t actually that difficult to obtain, particularly if you have some finesse like Georgeann. Georgeann was able to find a fast loan for $164000 from First State Bank of Mathis and The Huntsville National Bank, but declined both offers in favor of their high risk loan from Olney Savings Association. 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 debt consolidation loans. An improvement if a borrower is in a time sensitive situation.

Before applying for this high risk loan, Georgeann had an Experian score of 389, which is terrible, so Olney Savings Association probably cannot provide Georgeann a high risk loan

Experian Score: 389

Georgeann was rejected by First Star Bank, S.S.B. 5 times prior to being approved by Olney Savings Association at 300 E Main

On September 24, 2012, Georgeann applied about borrowing $2,000 from First Community Bank San Antonio, National Association with Chiquita, their in law from just outside Olney, and even with the co-signer, Georgeann was rejected for this high risk loan. With terrible credit, it can be difficult to obtain funding, even with collateral and a co-signer.

Previous requests on Georgeann’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$52290.00 5 7.4% $1045.3 Comerica Bank August 17, 2010
$51660.00 3 7.4% $1604.58 First Star Bank, S.S.B. June 1, 2012
$52300.00 4 6.7% $1245.12 Brownfield State Bank & Trust Co. March 7, 2013
$51510.00 8 7.5% $715.16 First Bank & Trust, Bryan, Texas May 19, 2013
$52340.00 7 9.7% $860.81 First Bank & Trust of Clarendon May 28, 2013

Paraphrased and Standardized Quote from Georgeann for this high risk loan of $164000, provided by Olney Savings Association

Hello, I am Georgeann and I’m from Olney in Texas. Young, county is where I grew up, and now I need a high risk loan in Texas for $164000 to buy a car. It has been difficult, but Olney Savings Association really came through for me with this loan for 6.7% interest APR and a term of 22 years. I can probably repay the loan over the 22 year term, including interest. A big thanks to Olney Savings Association for trusting me and my terrible credit. It look me 6 years to build my credit to 370, and I won’t harm it any future. I’m happy with Find Texas Loans for assisting me this far.

Signature Loan acquired in Olney, Texas for $164000 with terrible credit by Georgeann

A lot of borrowers have difficulty with finding signature loans in Olney, Texas, and Georgeann is the same. Georgeann went to 4 lending institutions or more prior to finding Olney Savings Association, who offered Georgeann a signature loan for $164000. Typical signature loans simply need a client, like Georgeann’s signature to get them, up to $23,000 in some cases. Georgeann was able to get $164000 as a high risk loan, which is very high for a high risk loan. Because signature loans do not need a cosigner, these loans generally need better credit, as high as 749

Georgeann’s Transunion score was altered by the high risk loan loan, changing to 355 from 370, which is typical in our experience.

Transunion Score: 355

Personal Loan for a restaurant manager named Georgeann in Olney, Texas to Pay Off Riverview Community Bank Visa Platinum Card

Georgeann had a lot of credit card debt on their BankFIRST Visa Platinum Card and their Ace Rewards Visa Business Card, and they were starting to get in over their heads. Despite Georgeann’s job as a restaurant manager, they struggled to make payments on the $25,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Debt Consolidation Can Help Most Deeply Indebted Borrower to Escape Bad Debts like Credit Card Debt

Average debt consolidation loans range from $38,000.00 to $45,000.00. They are typically used to pay off existing high interest loans like credit cards. Georgeann required a debt consolidation loan to pay for their existing high risk loan and their payday loan. Georgeann was able to find a high risk loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which changes your dirty, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 4.7%.

Georgeann’s Overall FICO score at the time of acceptance for a high risk loan, taking into account their restaurant manager job and their future career as a psychiatric aide

Fico Score: 370

7 Months Ago, Georgeann Tried to Find a High Risk Loan for $42,000.00, but They Didn’t Find What They were Expecting

It is an existing struggle for borrowers to find high risk loans in a safe manner. a lot of high risk loans end up originating loan sharks or similar lenders, which can be frightening to borrowers like Georgeann. Georgeann chose not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to bad credit clients. Clients with credit scores as low as 396 can inquire for a high risk loan and have a chance to be accepted.

When Georgeann was 23, they tried to obtain a student loan from 7 different banks, which harmed their credit rating. Below is a list of Georgeann’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $31,000.00 on August 29, 2009
  • Attempt 2) Loan for $29,000.00 on June 7, 2009
  • Attempt 3) Loan for $22,000.00 on August 24, 2012
  • Attempt 4) Loan for $23,000.00 on March 17, 2010
  • Attempt 5) Loan for $21,000.00 on July 12, 2009
  • Attempt 6) Loan for $28,000.00 on March 25, 2010
  • Attempt 7) Loan for $31,000.00 on September 2, 2009

Multiple other requests for credit have been made by Georgeann in the past, including one from OMNIBANK of Kiowa County, National Association in Olney, Texas before Georgeann was accepted for the $164000 by Olney Savings Association

Georgeann made 5 previous attempts to obtain a high risk loan, 2 of which were with OMNIBANK of Kiowa County, National Association, a lending institution in Olney, Texas known to specialize in high risk loans specifically. Before finding Olney Savings Association, Georgeann was very concerned due to their inexperience and terrible credit rating.

Installment loan for Georgeann, a graduate of Avera McKennan Hospital and a restaurant manager working for over $77,000 per year

Georgeann, an alumnus at Avera McKennan Hospital and a restaurant manager in Olney, Texas needs a high risk loan to purchase a house. Georgeann has instead decided to get an installment loan for $23,000 and is at present seeking lenders like MBank Greenville, National Association to process their request.

Georgeann has a very low current total income, but has a large amount of prospects

Georgeann has always wanted to be a psychiatric aide, but would need attend Avera McKennan Hospital again to become one. Georgeann has other possibilities as well, including airport administrator, disabled students teacher, and veterinarian, which pay $51,000 through to $102,000 per year, at least. For this reason, we believe that Georgeann can afford this high risk loan of $164000.

Conclusion of Georgeann’s high risk loan

In the end, Georgeann was able to find a high risk loan for $164000 with an interest rate of 5.4% interest APR from Olney Savings Association in Olney, Texas repayable over 22 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.