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Secured Loan For $100000 Near 27701, North Carolina With A Credit Score Of 433

$100000 Secured Loan – Durham North Carolina, Credit Score Of 433

  • Experian: 443 – This client had a bad Experian rating
  • Transunion: 415 – Hester had a bad credit score with Transunion.
  • Equifax: Hester’s Experian score was 433, which is a bad credit score on the Experian system.

Debt Consolidation Will Help Most Highly Indebted Borrower to Escape Bad Debts like Payday Loans

Normal debt consolidation loans range from $35,000.00 to $56,000.00. They are typically used to pay off existing high interest loans like credit cards. Hester required a debt consolidation loan to pay for their existing secured loan and their payday loan. Hester was able to find a secured loan in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which transfers your dirty, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 2.4%.

Fast Loans for Hester in Durham, North Carolina to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Durham, North Carolina aren’t actually that difficult to obtain, particularly if you have some gumption like Hester. Hester was able to find a fast loan for $100000 from First Charter Bank and Merchants & Farmers Bank, but turned down both offers in favor of their secured loan from KeySource Commercial Bank. The improvement with a fast loan over a installment loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 6 weeks for debt consolidation loans. A big difference in the case that a borrower is in a time sensitive situation.

Personal Loan for a petroleum technician named Hester in Durham, North Carolina to Pay Off Wizard of Oz Credit Card

Hester had a lot of credit card debt on their Reach Out and Read Visa Card and their Merrill Lynch WCMA Business Access, and they were starting to get in over their heads. Despite Hester’s job as a petroleum technician, they struggled to make payments on the $23,000.00 credit card balance, badly needing assistance in the form of a personal loan.

When Hester was 24, they attempted to obtain a student loan from 5 different lenders, which harmed their credit rating. Below is a list of Hester’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $23,000.00 on April 13, 2010
  • Attempt 2) Loan for $21,000.00 on May 9, 2013
  • Attempt 3) Loan for $29,000.00 on August 3, 2013
  • Attempt 4) Loan for $38,000.00 on July 6, 2009
  • Attempt 5) Loan for $34,000.00 on October 25, 2010

Contact Details for KeySource Commercial Bank, the provider of this secured loan

  • KeySource Commercial Bank
  • City: Durham
  • State: North Carolina
  • Address: 280 South Mangum Street
  • County: Durham
  • Zip code: 27701

Before applying for this secured loan, Hester had an Experian score of 443, which is bad, so KeySource Commercial Bank probably cannot provide Hester a secured loan

Experian Score: 443

Client Profile: Hester Trybala of Durham, North Carolina
  • Full name (Changed if requested): Hester Trybala
  • Current Credit: loans.hit.utils.Fico@5197848c
  • Current City: Durham
  • State: North Carolina
  • Zip code: 27707
  • Yearly income: $34,000
  • Current Job: petroleum technician
  • Current County: Durham
  • Goal Yearly Income: $145,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $1000

Multiple previous requests for credit have been made by Hester in the past, including one from State Financial Bank, National Association in Durham, North Carolina before Hester was approved for the $100000 by KeySource Commercial Bank

Hester made 6 previous tries to obtain a secured loan, 2 of which were with State Financial Bank, National Association, a lending institution in Durham, North Carolina known to specialize in secured loans specifically. Prior to finding KeySource Commercial Bank, Hester was desperate due to their inexperience and bad credit rating.

Signature Loan easily acquired in Durham, North Carolina for $100000 with bad credit by Hester

A lot of clients have difficulty with finding signature loans in Durham, North Carolina, and Hester is the same. Hester went to 5 lenders or more prior to settling on KeySource Commercial Bank, who offered Hester a signature loan for $100000. Typical signature loans simply require a client, like Hester’s signature to obtain them, up to $30,000 in some cases. Hester was able to get $100000 as a secured loan, which is very high for a secured loan. Since signature loans don’t require collateral, they generally need higher credit, as high as 783

Hester was declined by First Union National Bank 7 times before being accepted by KeySource Commercial Bank at 280 South Mangum Street

On July 1, 2010, Hester inquired about borrowing $29,000 from Commercial & Farmers Bank with Britt, their friend from just outside Durham, and even with the co-signer, Hester was rejected for this secured loan. With bad credit, it can be difficult to procure funding, even with collateral and a co-signer.

8 Months Ago, Hester Tried Finding a High Risk Loan for $49,000.00, and it was Easy

There is an ongoing struggle for borrowers to find high risk loans in a non-harmful manner. Many high risk loans end up originating loan sharks or the like, which can be scary to borrowers like Hester. Hester chose not to get a high risk loan this time. High Risk loans are generally given by lenders to bad credit clients. Clients with credit scores as low as 367 can inquire for a high risk loan and may be be approved.

Installment loan for Hester, a graduate of Ross Medical Education Center – Lansing and a petroleum technician working for over $75,000 per year

Hester, an alumnus at Ross Medical Education Center – Lansing and a petroleum technician in Durham, North Carolina needs a secured loan to purchase a car. Hester has instead decided to obtain an installment loan for $19,000 and is currently seeking lenders like First State Bank to provide it.

Hester has a sad current gross income, but has a large amount of prospects

Hester has always wanted to be a surgical technician/technologist, but would need attend Ross Medical Education Center – Lansing again to become one. Hester has other possibilities as well, including pressing machine operator, power-line installer and mechanic, and personnel assistant, which pay $54,000 through to $107,000 per year, at least. Because of this, we believe that Hester can pay for this secured loan of $100000.

Paraphrased and Standardized Quote from Hester for this secured loan of $100000, provided by KeySource Commercial Bank

Hello, I am Hester and I am from Durham in North Carolina. Durham, county is where I grew up, and now I need a secured loan in North Carolina for $100000 to pay bills. It wasn’t easy, but KeySource Commercial Bank really came through for me with this loan for 7.1% interest APR and a term of 7 years. I can repay the loan over the 7 year term, including interest. A big thanks to KeySource Commercial Bank for giving me a chance and my bad credit. It look me 4 years to build my credit to 433, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for assisting me this far.

Hester’s Transunion score was altered by the secured loan loan, changing to 415 from 433, which is typical in our experience.

Transunion Score: 415

Previous requests on Hester’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$83390.00 11 9.3% $1011.28 The Farmers Bank of Seaboard July 30, 2009
$82520.00 5 11.8% $1827.28 The Bank of Raeford August 19, 2009
$82790.00 7 6.5% $1229.38 The Bank of Coleridge April 2, 2010
$83450.00 8 5.2% $1064.43 Farmers Bank of Sunbury January 4, 2012

Hester’s Overall FICO score at the time of acceptance for a secured loan, taking into account their petroleum technician job and their future job as a surgical technician/technologist

Fico Score: 433

Conclusion of Hester’s secured loan

In the end, Hester was able to find a secured loan for $100000 with an interest rate of 8.5% interest APR from KeySource Commercial Bank in Durham, North Carolina repayable over 7 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.