$60000 Unsecured Loan – Albert Lea Minnesota, Credit Score Of 586
- Experian: 596 – The client had a fair Experian rating
- Transunion: 573 – Walter had a fair credit rating with Transunion.
- Equifax: Walter’s Experian score was 586, which is a fair credit score with the Experian rating scheme.
Walter was rejected by State Bank of Park Rapids 5 times before being approved by Security Bank Minnesota at 427 Bridge Avenue
On July 5, 2009, Walter inquired about borrowing $19,000 from Fidelity Bank and Trust Company with Larry, their friend from just outside Albert Lea, and even with the co-signer, Walter was rejected for this unsecured loan. With fair credit, it can be challenging to procure funding, even with collateral and a co-signer.
Contact Details for Security Bank Minnesota, the provider of this unsecured loan
- Security Bank Minnesota
- City: Albert Lea
- State: Minnesota
- Address: 427 Bridge Avenue
- County: Freeborn
- Zip code: 56007
Fast Loans for Walter in Albert Lea, Minnesota to prevent bankruptcy or bodily harm from debt collectors.
Fast loans in Albert Lea, Minnesota aren’t actually that difficult to obtain, especially if you have some gumption like Walter. Walter was able to find a fast loan for $60000 from Fidelity Bank and Trust Company and Citizens Alliance Bank, but turned down both offers in favor of their unsecured loan from Security Bank Minnesota. The improvement with a fast loan over a debt consolidation loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 6 weeks for debt consolidation loans. A big improvement if a client is on the go.
Multiple past requests for credit have been made by Walter in the past, including one from Security Federal Savings and Loan Association of Staten Island in Albert Lea, Minnesota before Walter was accepted for the $60000 by Security Bank Minnesota
Walter made 4 previous attempts to obtain an unsecured loan, 2 of which were with Security Federal Savings and Loan Association of Staten Island, a lending institution in Albert Lea, Minnesota known to specialize in unsecured loans specifically. Before finding Security Bank Minnesota, Walter was very concerned due to their inexperience and fair credit score.
Debt Consolidation Can Help Any Highly Indebted Borrower to Escape Bad Debts like Loan Sharks
Average debt consolidation loans range from $39,000.00 to $52,000.00. They are mainly used to pay off existing high interest loans like credit cards. Walter required a debt consolidation loan to pay for their existing unsecured loan and their credit card. Walter was able to find a unsecured loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which converts your less desirable, high interest loans to one lower interest loan. Debt consolidation loans generally have interest rates as low as 4.7%.
Paraphrased and Standardized Quote from Walter for this unsecured loan of $60000, provided by Security Bank Minnesota
Hello, I am Walter and I’m from Albert Lea in Minnesota. Freeborn, county is where I grew up, and now I need a unsecured loan in Minnesota for $60000 to buy a big ticket item. It wasn’t easy, but Security Bank Minnesota really came through for me with this loan for 7.2% interest APR and a term of 14 years. I can repay the loan over the 14 year term, including interest. A big thanks to Security Bank Minnesota for trusting me and my fair credit. It look me 7 years to create my credit to 586, and I won’t tarnish it any future. I’m happy with Find Texas Loans for helping me this far.
6 Months Ago, Walter Tried Finding a High Risk Loan for $44,000.00, and it was Easy
There is an existing struggle for borrowers to get high risk loans in a non-harmful manner. Many high risk loans end up originating loan sharks or similar lenders, which can be frightening to borrowers like Walter. Walter decided not to obtain a high risk loan this time. High Risk loans are given to bad credit borrowers. Borrowers with credit scores as low as 481 can apply for a high risk loan and have a chance to be approved.
Walter has a low current yearly income, but has several of prospects
Walter has always wanted to be a sales promoter, but would have to attend Atlanta College of Art again to achieve it. Walter has other possibilities as well, including switchboard operator, personnel recruiter, and health psychologist, which pay $52,000 through to $99,000 per year, on average. For this reason, we believe that Walter can pay for this unsecured loan of $60000.
Walter’s Overall FICO score at the time of acceptance for an unsecured loan, taking into account their referee / umpire job and their future job as a sales promoter
When Walter was 24, they tried to obtain a student loan from 5 different banks, which harmed their credit score. Below is a list of Walter’s previous attempts at finding a student loan:
- Attempt 1) Loan for $28,000.00 on December 30, 2013
- Attempt 2) Loan for $38,000.00 on August 30, 2011
- Attempt 3) Loan for $21,000.00 on March 28, 2010
- Attempt 4) Loan for $35,000.00 on October 16, 2009
- Attempt 5) Loan for $36,000.00 on March 16, 2009
Walter’s Transunion score was changed by the unsecured loan loan, changing to 573 from 586, which is normal in our experience.
- Full name (Changed if requested): Walter Pipia
- Current Credit: loans.hit.utils.Fico@6d21714c
- Current City: Albert Lea
- State: Minnesota
- Zip code: 56013
- Yearly income: $68,000
- Current Job: referee / umpire
- Current County: Freeborn
- Goal Yearly Income: $146,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $4000
Previous requests on Walter’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$59150.00||8||7.7%||$827.19||Marquette Bank Cannon Falls||November 3, 2008|
|$58650.00||3||10.7%||$1911.8||Root River State Bank||August 11, 2009|
|$59390.00||9||8.5%||$788.66||Clinton State Bank||April 26, 2011|
|$59190.00||11||10.3%||$751.13||Peoples State Bank of Plainview||April 24, 2014|
|$58530.00||6||9.4%||$1066.69||Security State Bank of Wykoff||September 19, 2014|
Before applying for this unsecured loan, Walter had an Experian score of 596, which is fair, so Security Bank Minnesota probably cannot provide Walter an unsecured loan
Installment loan for Walter, a graduate of Atlanta College of Art and a referee / umpire working for over $66,000 per year
Walter, an alumnus at Atlanta College of Art and a referee / umpire in Albert Lea, Minnesota needs an unsecured loan to purchase something frivolous. Walter has instead chosen to obtain an installment loan for $7,000 and is currently seeking lenders like State Bank of Park Rapids to process their request.
Signature Loan acquired in Albert Lea, Minnesota for $60000 with fair credit by Walter
Many prospective borrowers struggle with finding signature loans in Albert Lea, Minnesota, and Walter is no different. Walter went to 8 lending institutions or more before settling on Security Bank Minnesota, who offered Walter a signature loan for $60000. Most signature loans simply require a client, like Walter’s signature to obtain them, up to $23,000 in some cases. Walter was able to get $60000 as a unsecured loan, which is very high for an unsecured loan. Since signature loans do not require collateral, these loans generally require improved credit, as high as 780
Personal Loan for a referee / umpire named Walter in Albert Lea, Minnesota to Pay Off Reach Out and Read Visa Card
Walter had a lot of credit card debt on their Belk Rewards Card and their EmigrantDirect World MasterCard, and they were starting to get in over their heads. Despite Walter’s job as a referee / umpire, they struggled to make payments on the $25,000.00 credit card balance, badly needing assistance in the form of a personal loan.
Conclusion of Walter’s unsecured loan
In the end, Walter was able to find an unsecured loan for $60000 with an interest rate of 6.2% interest APR from Security Bank Minnesota in Albert Lea, Minnesota repayable over 14 years from now.