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Ned Had Need For A Secured Loan For $24000, Mineral Point, Wisconsin

$24000 Secured Loan – Mineral Point Wisconsin, Credit Rating Of 785

  • Experian: 804 – This client had an excellent Experian rating
  • Transunion: 768 – Ned had an excellent credit score with Transunion.
  • Equifax: Ned’s Experian score was 785, which is an excellent credit score with the Experian scale.

Installment loan for Ned, a graduate of Minnesota School of Cosmetology and a dermatologist working for over $64,000 per year

Ned, an alumnus at Minnesota School of Cosmetology and a dermatologist in Mineral Point, Wisconsin needs a secured loan to purchase a car. Ned has instead decided to obtain an installment loan for $4,000 and is at present seeking lenders like Markesan State Bank to provide it.

Ned was declined by Cudahy Marine Bank 4 times prior to being accepted by Farmers Savings Bank at 305 Doty Street

On March 30, 2011, Ned applied about borrowing $45,000 from Bank of North Lake with Gearldine, their friend from just outside Mineral Point, and even with the co-signer, Ned was rejected for this secured loan. With excellent credit, it can be very hard to obtain funding, even with collateral and a co-signer.

Previous requests on Ned’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$139360.00 8 9.7% $2092.61 M&I Bank of Burlington July 28, 2010
$138550.00 6 11.8% $2694.29 M&I Marshall and Ilsley Bank March 12, 2011
$138510.00 6 9.3% $2517.39 Continental Bank & Trust Co. February 12, 2013
$138560.00 11 10.8% $1798.07 Clare Bank, National Association June 1, 2014
$138650.00 5 10.4% $2973.27 Norwest Bank Wisconsin East Central October 22, 2014

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

Normal debt consolidation loans vary from $23,000.00 to $56,000.00. They are normally used to pay off existing high interest loans like credit cards. Ned required a debt consolidation loan to pay for their existing secured loan and their credit card. Ned was able to find a secured loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which converts your bad, high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates as low as 4.8%.

Ned’s Overall FICO score at the time of acceptance for a secured loan, taking into account their dermatologist job and their future career as a travel agent

Fico Score: 785

When Ned was 22, they tried to obtain a student loan from 7 alternate banks, which damaged their credit score. Below is a chronology of Ned’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $24,000.00 on January 7, 2011
  • Attempt 2) Loan for $25,000.00 on October 2, 2011
  • Attempt 3) Loan for $32,000.00 on February 18, 2010
  • Attempt 4) Loan for $31,000.00 on March 3, 2012
  • Attempt 5) Loan for $22,000.00 on September 14, 2010
  • Attempt 6) Loan for $28,000.00 on December 24, 2011
  • Attempt 7) Loan for $21,000.00 on May 7, 2009

Ned’s Transunion score was altered by the secured loan loan, changing to 768 from 785, which is typical in our experience.

Transunion Score: 768

Signature Loan easily acquired in Mineral Point, Wisconsin for $24000 with excellent credit by Ned

Many clients struggle with finding signature loans in Mineral Point, Wisconsin, and Ned is the same. Ned went to 8 lenders or more prior to finding Farmers Savings Bank, who offered Ned a signature loan for $24000. Typical signature loans simply require a client, like Ned’s signature to get them, up to $26,000 in some cases. Ned was able to get $24000 as a secured loan, which is very high for a secured loan. Since signature loans do not require collateral, they generally require improved credit, as high as 749

Paraphrased and Standardized Quote from Ned for this secured loan of $24000, provided by Farmers Savings Bank

Hi, I am Ned and I am from Mineral Point in Wisconsin. Iowa, county is where I grew up, and now I need a secured loan in Wisconsin for $24000 to avoid bankruptcy. It has been difficult, but Farmers Savings Bank really came through for me with this loan for 8.3% interest APR and a term of 20 years. I can repay the loan over the 20 year term, including interest. A big thanks to Farmers Savings Bank for giving me a chance and my excellent credit. It look me 6 years to create my credit to 785, and I won’t tarnish it any future. I’m pleased with Find Texas Loans for assisting me this far.

Client Profile: Ned Ritts of Mineral Point, Wisconsin
  • Full name (Changed if requested): Ned Ritts
  • Current Credit: loans.hit.utils.Fico@7c3df479
  • Current City: Mineral Point
  • State: Wisconsin
  • Zip code: 53568
  • Yearly income: $55,000
  • Current Job: dermatologist
  • Current County: Iowa
  • Goal Yearly Income: $139,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $0

Fast Loans for Ned in Mineral Point, Wisconsin to prevent bankruptcy or harm from debt collectors.

Fast loans in Mineral Point, Wisconsin aren’t actually that difficult to obtain, particularly if you have some finesse like Ned. Ned was able to find a fast loan for $24000 from Bank of North Lake and Kilbourn State Bank, but declined both offers in favor of their secured loan from Farmers Savings Bank. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 5 weeks for debt consolidation loans. A big improvement in the case that a borrower is in a time sensitive situation.

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

  • Farmers Savings Bank
  • City: Mineral Point
  • State: Wisconsin
  • Address: 305 Doty Street
  • County: Iowa
  • Zip code: 53565

6 Months Ago, Ned Tried Finding a High Risk Loan for $31,000.00, but They Didn’t Find What They were Expecting

It is an well known struggle for borrowers to find high risk loans in a safe manner. a lot of high risk loans end up originating loan sharks or the like, which can be scary to borrowers like Ned. Ned chose not to get a high risk loan this time. High Risk loans are given to bad credit clients. Clients with credit ratings as low as 478 can apply for a high risk loan and possibly can be accepted.

Before applying for this secured loan, Ned had an Experian score of 804, which is excellent, so Farmers Savings Bank probably cannot provide Ned a secured loan

Experian Score: 804

Personal Loan for a dermatologist named Ned in Mineral Point, Wisconsin to Pay Off First Hawaiian Bank Priority Destinations World MasterCard

Ned had a tonne of credit card debt on their Wells Fargo Secured Credit Card and their SEFCU MasterCard, and they were starting to get in over their heads. Despite Ned’s job as a dermatologist, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Multiple past requests for credit have been made by Ned in the past, including one from Amerifirst Bank, National Association in Mineral Point, Wisconsin before Ned was accepted for the $24000 by Farmers Savings Bank

Ned made 7 previous tries to obtain a secured loan, 2 of which were with Amerifirst Bank, National Association, a bank in Mineral Point, Wisconsin known to specialize in secured loans specifically. Before finding Farmers Savings Bank, Ned was very concerned due to their inexperience and excellent credit rating.

Ned has a low current total income, but has several of prospects

Ned has always wanted to be a travel agent, but would need attend Minnesota School of Cosmetology again to become one. Ned has other possibilities as well, including wildlife control agent, aquarium curator, and harbor, which pay $53,000 through to $101,000 per year, on average. For this reason, we believe that Ned can afford this secured loan of $24000.

Conclusion of Ned’s secured loan

In the end, Ned was able to find a secured loan for $24000 with an interest rate of 8.6% interest APR from Farmers Savings Bank in Mineral Point, Wisconsin repayable over 20 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.