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7 Year Student Loan For Jon In Vermilion Ohio

$123000 Student Loan – Vermilion Ohio, Credit Score Of 479

  • Experian: 495 – This client had a bad Experian rating
  • Transunion: 465 – Jon had a bad credit rating with Transunion.
  • Equifax: Jon’s Experian score was 479, which is a bad credit score using the Experian scale.

Installment loan for Jon, a graduate of Baptist Health Care and a billing specialist working for over $77,000 per year

Jon, an alumnus at Baptist Health Care and a billing specialist in Vermilion, Ohio needs a student loan to purchase a car. Jon has instead chosen to get an installment loan for $29,000 and is at present seeking lenders like Peoples Banking Company of Martins Ferry, Ohio to provide it.

Client Profile: Jon Raelson of Vermilion, Ohio
  • Full name (Changed if requested): Jon Raelson
  • Current Credit: loans.hit.utils.Fico@6d21714c
  • Current City: Vermilion
  • State: Ohio
  • Zip code: 44097
  • Yearly income: $55,000
  • Current Job: billing specialist
  • Current County: Erie
  • Goal Yearly Income: $139,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000

7 Months in the Past, Jon Attempted Finding a High Risk Loan for $24,000.00, and it was Easy

It is an ongoing struggle for clients to find high risk loans in a non-harmful manner. Many high risk loans end up originating loan sharks or similar lenders, which can be physically harmful to borrowers like Jon. Jon chose not to get a high risk loan this time. High Risk loans are given to bad credit applicants. Individuals with credit scores as low as 536 can apply for a high risk loan and possibly can be accepted.

Contact Details for Society Bank of the Firelands, the provider of this student loan

  • Society Bank of the Firelands
  • City: Vermilion
  • State: Ohio
  • Address: 4700 Liberty Avenue
  • County: Erie
  • Zip code: 44089

Jon’s Overall FICO score at the time of acceptance for a student loan, taking into account their billing specialist job and their future job as an animal trainer

Fico Score: 479

Jon’s Transunion score was changed by the student loan loan, changing to 465 from 479, which is normal in our experience.

Transunion Score: 465

When Jon was 22, they attempted to obtain a student loan from 6 different banks, which damaged their credit rating. Below is a chronology of Jon’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $32,000.00 on May 23, 2010
  • Attempt 2) Loan for $25,000.00 on August 22, 2011
  • Attempt 3) Loan for $28,000.00 on July 16, 2010
  • Attempt 4) Loan for $22,000.00 on November 18, 2009
  • Attempt 5) Loan for $36,000.00 on March 22, 2012
  • Attempt 6) Loan for $20,000.00 on February 18, 2011

Jon was not approved by The Apple Creek Banking Company 6 times prior to being granted funding by Society Bank of the Firelands at 4700 Liberty Avenue

On September 26, 2012, Jon applied about borrowing $16,000 from The Clarksburg Commercial Bank with Tisa, their in law from just outside Vermilion, and even with the co-signer, Jon was rejected for this student loan. With bad credit, it can be very hard to obtain funding, even with collateral and a co-signer.

Personal Loan for a billing specialist named Jon in Vermilion, Ohio to Pay Off KeyBank Business MasterCard Credit Card

Jon had a tonne of credit card debt on their Lufthansa Premier Miles & More World MasterCard and their Plum Card, and they were starting to get in over their heads. Despite Jon’s job as a billing specialist, they struggled to make payments on the $29,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Jon has a disappointing current gross income, but has a high number of prospects

Jon has always wanted to be an animal trainer, but would need attend Baptist Health Care again to become one. Jon has other possibilities as well, including industrial hygienist, screen writer, and warehouse stock clerk, which pay $51,000 through to $97,000 per year, at least. Because of this, we think that Jon can afford this student loan of $123000.

Before applying for this student loan, Jon had an Experian score of 495, which is bad, so Society Bank of the Firelands most likely cannot provide Jon a student loan

Experian Score: 495

Previous requests on Jon’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$129430.00 10 8.1% $1577.19 The Vinton Banking Company September 5, 2012
$129460.00 5 9.6% $2725.23 The Ohio Valley Bank Company June 3, 2013
$129470.00 8 5.4% $1663.85 The Citizens Bank August 1, 2014
$128810.00 10 11.1% $1781.66 The Peoples Bank March 25, 2015
$129360.00 3 9.5% $4143.78 The Freeport State Bank April 2, 2015

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

Average debt consolidation loans vary from $34,000.00 to $44,000.00. They are mainly used to pay off existing high interest loans like credit cards. Jon required a debt consolidation loan to pay for their existing student loan and their credit card. Jon was able to find a student loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which transfers your bad, catastrophically high interest loans to a single reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 3.2%.

Paraphrased and Standardized Quote from Jon for this student loan of $123000, provided by Society Bank of the Firelands

Hi, I am Jon and I am from Vermilion in Ohio. Erie, county is where I grew up, and now I need a student loan in Ohio for $123000 to renovate my home. It has been difficult, but Society Bank of the Firelands really came through for me with this loan for 6.7% interest APR and a term of 17 years. I will repay the loan over the 17 year term, including interest. A big thanks to Society Bank of the Firelands for giving me a chance and my bad credit. It look me 9 years to create my credit to 479, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for assisting me this far.

Fast Loans for Jon in Vermilion, Ohio to prevent bankruptcy or harm from debt collectors.

Fast loans in Vermilion, Ohio aren’t actually that difficult to obtain, particularly if you have some gumption like Jon. Jon was able to find a fast loan for $123000 from The Apple Creek Banking Company and The Vinton Banking Company, but turned down both offers in favor of their student loan from Society Bank of the Firelands. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 5 weeks for installment loans. A big difference in the case that you are in a pinch.

Several other requests for credit have been made by Jon in the past, including one from Banco Popular, National Association (Texas) in Vermilion, Ohio before Jon was approved for the $123000 by Society Bank of the Firelands

Jon made 6 previous attempts to obtain a student loan, 2 of which were with Banco Popular, National Association (Texas), a bank in Vermilion, Ohio known to specialize in student loans specifically. Before finding Society Bank of the Firelands, Jon was concerned due to their inexperience and bad credit rating.

Signature Loan easily acquired in Vermilion, Ohio for $123000 with bad credit by Jon

Many borrowers have difficulty with finding signature loans in Vermilion, Ohio, and Jon is the same. Jon went to 5 lenders or more before settling on Society Bank of the Firelands, who offered Jon a signature loan for $123000. Typical signature loans simply need a client, like Jon’s signature to obtain them, up to $38,000 in some cases. Jon was able to get $123000 as a student loan, which is very high for a student loan. Since signature loans do not require a cosigner, they generally require better credit, as high as 772

Conclusion of Jon’s student loan

In the end, Jon was able to find a student loan for $123000 with an interest rate of 6.0% interest APR from Society Bank of the Firelands in Vermilion, Ohio 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.