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6 Month Consolidation Loan For Branda In Albert Lea Minnesota

$72000 Consolidation Loan – Albert Lea Minnesota, Credit Rating Of 601

  • Experian: 613 – They had a good Experian score
  • Transunion: 584 – Branda had a good credit rating with Transunion.
  • Equifax: Branda’s Experian score was 601, which is a good credit score on the Experian rating scheme.
Client Profile: Branda Bridger of Albert Lea, Minnesota
  • Full name (Changed if requested): Branda Bridger
  • Current Credit: loans.hit.utils.Fico@4b9af9a9
  • Current City: Albert Lea
  • State: Minnesota
  • Zip code: 56009
  • Yearly income: $44,000
  • Current Job: petroleum technician
  • Current County: Freeborn
  • Goal Yearly Income: $144,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $0

Signature Loan found in Albert Lea, Minnesota for $72000 with good credit by Branda

A lot of clients have difficulty with finding signature loans in Albert Lea, Minnesota, and Branda is no different. Branda went to 5 lenders or more prior to settling on Security Bank Minnesota, who offered Branda a signature loan for $72000. Most signature loans simply require a client, like Branda’s signature to get them, up to $30,000 in some cases. Branda was able to get $72000 as a consolidation loan, which is very high for a consolidation loan. Since signature loans do not require a cosigner, they generally need improved credit, as high as 707

Personal Loan for a petroleum technician named Branda in Albert Lea, Minnesota to Pay Off J. Jill Credit Card

Branda had a tonne of credit card debt on their Starbucks Prepaid Rewards Card and their Jeff Bank College Rewards Visa Card, and they were starting to get in over their heads. Despite Branda’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.

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

Most debt consolidation loans vary from $39,000.00 to $44,000.00. They are typically used to pay off existing high interest loans like credit cards. Branda needed a debt consolidation loan to pay for their existing consolidation loan and their credit card. Branda was able to find a consolidation loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which changes your dirty, high interest loans to one reduced interest loan. Debt consolidation loans generally have interest rates as low as 3.2%.

Branda was not approved by Atwater State Bank 7 times prior to being approved by Security Bank Minnesota at 427 Bridge Avenue

On April 9, 2009, Branda inquired about borrowing $3,000 from State Bank of Park Rapids with Carola, their in law from just outside Albert Lea, and even with the co-signer, Branda was rejected for this consolidation loan. With good credit, it can be difficult to procure financing, even with collateral and a co-signer.

Fast Loans for Branda in Albert Lea, Minnesota to prevent bankruptcy or harm from debt collectors.

Fast loans in Albert Lea, Minnesota aren’t actually that difficult to obtain, particularly if you have some gumption like Branda. Branda was able to find a fast loan for $72000 from American Bank Mankato and Red Rock Bank, but turned down both offers in favor of their consolidation loan from Security Bank Minnesota. The difference with a fast loan over a installment loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 7 weeks for installment loans. Much better if a client is in a time sensitive situation.

Before applying for this consolidation loan, Branda had an Experian score of 613, which is good, so Security Bank Minnesota likely cannot provide Branda a consolidation loan

Experian Score: 613

Branda’s Overall FICO score at the time of acceptance for a consolidation loan, taking into account their petroleum technician job and their future job as a sales representative

Fico Score: 601

Branda has a very low current gross income, but has several of prospects

Branda has always wanted to be a sales representative, but would need attend Towson University again to achieve it. Branda has other prospects as well, including logging worker supervisor, dietitian and nutritionist, and teachers aide, which pay $54,000 through to $99,000 per year, on average. Because of this, we think that Branda can afford this consolidation loan of $72000.

Installment loan for Branda, a graduate of Towson University and a petroleum technician working for over $61,000 per year

Branda, an alumnus at Towson University and a petroleum technician in Albert Lea, Minnesota wants a consolidation loan to purchase a house. Branda has instead chosen to obtain an installment loan for $5,000 and is currently seeking lenders like Frandsen Bank & Trust to provide it.

Several previous requests for credit have been made by Branda in the past, including one from Fidelity Bank in Albert Lea, Minnesota before Branda was accepted for the $72000 by Security Bank Minnesota

Branda made 7 previous attempts to obtain a consolidation loan, 2 of which were with Fidelity Bank, a lender in Albert Lea, Minnesota known to specialize in consolidation loans specifically. Before finding Security Bank Minnesota, Branda was concerned due to their inexperience and good credit rating.

Branda’s Transunion score was changed by the consolidation loan loan, changing to 584 from 601, which is typical in our experience.

Transunion Score: 584

Contact Details for Security Bank Minnesota, the provider of this consolidation loan

  • Security Bank Minnesota
  • City: Albert Lea
  • State: Minnesota
  • Address: 427 Bridge Avenue
  • County: Freeborn
  • Zip code: 56007

Paraphrased and Standardized Quote from Branda for this consolidation loan of $72000, provided by Security Bank Minnesota

Hello, I am Branda and I am from Albert Lea in Minnesota. Freeborn, county is where I grew up, and now I need a consolidation loan in Minnesota for $72000 to pay bills. It wasn’t easy, but Security Bank Minnesota really came through for me with this loan for 7.0% interest APR and a term of 18 years. I can repay the loan over the 18 year term, including interest. A big thanks to Security Bank Minnesota for giving me a chance and my good credit. It look me 7 years to build my credit to 601, and I won’t harm it any future. I’m pleased with Find Texas Loans for helping me this far.

Previous requests on Branda’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$78680.00 8 7.7% $1100.31 Marquette Bank Cannon Falls January 8, 2011
$78600.00 5 5.5% $1501.35 Root River State Bank November 25, 2012
$79110.00 3 6.3% $2417.45 Clinton State Bank February 19, 2013
$79350.00 9 10.6% $1143.09 Peoples State Bank of Plainview May 7, 2013

7 Months in the Past, Branda Tried Finding a High Risk Loan for $41,000.00, but They Didn’t Find What They were Expecting

It is an well known struggle for clients to get 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 Branda. Branda decided not to obtain a high risk loan this time. High Risk loans are generally given by lenders to terrible credit borrowers. Individuals with credit scores as low as 317 can inquire for a high risk loan and possibly can be approved.

When Branda was 23, they attempted to obtain a student loan from 6 different lenders, which damaged their credit rating. Below is a list of Branda’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $33,000.00 on February 7, 2012
  • Attempt 2) Loan for $30,000.00 on May 29, 2009
  • Attempt 3) Loan for $29,000.00 on February 15, 2010
  • Attempt 4) Loan for $31,000.00 on June 27, 2011
  • Attempt 5) Loan for $33,000.00 on April 30, 2009
  • Attempt 6) Loan for $26,000.00 on September 27, 2010

Conclusion of Branda’s consolidation loan

In the end, Branda was able to find a consolidation loan for $72000 with an interest rate of 9.5% interest APR from Security Bank Minnesota in Albert Lea, Minnesota repayable over 18 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.