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Low Rate Direct Loan For Minh In Hot Springs, Arkansas

$51000 Direct Loan – Hot Springs Arkansas, Credit Rating Of 563

  • Experian: 577 – The client had a fair Experian score
  • Transunion: 551 – Minh had a fair credit rating with Transunion.
  • Equifax: Minh’s Experian score was 563, which is a fair credit rating using the Experian scale.

Previous requests on Minh’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$56620.00 10 7.7% $678.01 Bank of Weiner August 15, 2009
$57160.00 9 10.1% $807.84 Horizon Bank September 6, 2013
$56800.00 7 11.1% $975.54 Warren Bank and Trust Company September 23, 2013
$57150.00 9 7.3% $723.45 Boatmen’s Bank of Northeast Arkansas January 10, 2014

7 Months in the Past, Minh Tried Finding a High Risk Loan for $25,000.00, and it was Hard

It is an ongoing struggle for borrowers to find high risk loans in a non-harmful way. a lot of high risk loans end up originating loan sharks or similar lenders, which can be scary to borrowers like Minh. Minh chose not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to very low credit borrowers. Borrowers with credit ratings as low as 367 can apply for a high risk loan and possibly can be accepted.

Personal Loan for a fashion artist named Minh in Hot Springs, Arkansas to Pay Off Comerica Bank Visa Signature Card

Minh had a tonne of credit card debt on their Boston Red Sox BankAmericard Cash Rewards MasterCard and their Plains Commerce Bank MasterCard Classic, and they were starting to get in over their heads. Despite Minh’s job as a fashion artist, they struggled to make payments on the $27,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Minh’s Transunion score was changed by the direct loan loan, changing to 551 from 563, which is typical in our experience.

Transunion Score: 551

Minh was declined by Delta Trust & Bank 4 times before being approved by Arkansas Bank and Trust Company at 835 Central Avenue

On February 26, 2011, Minh inquired about borrowing $7,000 from River Valley Bank and Trust with Vannesa, their in law from just outside Hot Springs, and even with the co-signer, Minh was rejected for this direct loan. With fair credit, it can be difficult to obtain financing, even with collateral and a co-signer.

Fast Loans for Minh in Hot Springs, Arkansas to prevent bankruptcy or harm from debt collectors.

Fast loans in Hot Springs, Arkansas aren’t actually that difficult to obtain, especially if you have some finesse like Minh. Minh was able to find a fast loan for $51000 from Delta Trust & Bank and Bank of the Ozarks, but turned down both offers in favor of their direct loan from Arkansas Bank and Trust Company. 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 6 weeks for debt consolidation loans. An improvement if a client is in a pinch.

Installment loan for Minh, a graduate of University of St. Francis and a fashion artist working for over $63,000 per year

Minh, an alumnus at University of St. Francis and a fashion artist in Hot Springs, Arkansas needs a direct loan to purchase a house. Minh has instead decided to get an installment loan for $17,000 and is at present seeking lenders like Bank of Delight to process their request.

Contact Details for Arkansas Bank and Trust Company, the provider of this direct loan

  • Arkansas Bank and Trust Company
  • City: Hot Springs
  • State: Arkansas
  • Address: 835 Central Avenue
  • County: Garland
  • Zip code: 71901
Client Profile: Minh Thoma of Hot Springs, Arkansas
  • Full name (Changed if requested): Minh Thoma
  • Current Credit: loans.hit.utils.Fico@7ab2bfe1
  • Current City: Hot Springs
  • State: Arkansas
  • Zip code: 71910
  • Yearly income: $69,000
  • Current Job: fashion artist
  • Current County: Garland
  • Goal Yearly Income: $101,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000

When Minh was 18, they tried to obtain a student loan from 5 different lenders, which harmed their credit score. Below is a chronology of Minh’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $22,000.00 on May 28, 2011
  • Attempt 2) Loan for $26,000.00 on February 25, 2013
  • Attempt 3) Loan for $21,000.00 on June 24, 2012
  • Attempt 4) Loan for $39,000.00 on April 8, 2013
  • Attempt 5) Loan for $33,000.00 on March 9, 2013

Signature Loan found in Hot Springs, Arkansas for $51000 with fair credit by Minh

Most clients struggle with obtaining signature loans in Hot Springs, Arkansas, and Minh is not an exception. Minh went to 5 lenders or more prior to finding Arkansas Bank and Trust Company, who offered Minh a signature loan for $51000. Most signature loans simply require a client, like Minh’s signature to get them, up to $35,000 in some cases. Minh was able to get $51000 as a direct loan, which is very high for a direct loan. Since signature loans don’t require a cosigner, they tend to require higher credit, as high as 718

Before applying for this direct loan, Minh had an Experian score of 577, which is fair, so Arkansas Bank and Trust Company most likely cannot provide Minh a direct loan

Experian Score: 577

Paraphrased and Standardized Quote from Minh for this direct loan of $51000, provided by Arkansas Bank and Trust Company

Hi, I am Minh and I’m from Hot Springs in Arkansas. Garland, county is where I grew up, and now I need a direct loan in Arkansas for $51000 to buy a car. It has been difficult, but Arkansas Bank and Trust Company really came through for me with this loan for 6.0% interest APR and a term of 19 years. I will repay the loan over the 19 year term, including interest. A big thanks to Arkansas Bank and Trust Company for giving me a chance and my fair credit. It look me 4 years to create my credit to 563, and I won’t tarnish it any future. I’m pleased with Find Texas Loans for helping me this far.

Minh has a very low current gross income, but has a high number of prospects

Minh has always wanted to be a credit analyst, but would need attend University of St. Francis again to achieve it. Minh has other prospects as well, including tool & machine designer, brokerage clerk, and motion picture director, which pay $55,000 through to $108,000 per year, on average. Because of this, we believe that Minh can pay for this direct loan of $51000.

Debt Consolidation Can Help Any Deeply Indebted Borrower to Escape Bad Debts like Credit Card Debt

Most debt consolidation loans range from $32,000.00 to $41,000.00. They are normally used to pay off existing high interest loans like credit cards. Minh required a debt consolidation loan to pay for their existing direct loan and their loan shark loan. Minh was able to find a direct loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which changes your less desirable, catastrophically high interest loans to a single reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 3.1%.

Many past requests for credit have been made by Minh in the past, including one from Seven Hills Savings Association in Hot Springs, Arkansas before Minh was accepted for the $51000 by Arkansas Bank and Trust Company

Minh made 8 previous tries to obtain a direct loan, 2 of which were with Seven Hills Savings Association, a lender in Hot Springs, Arkansas known to specialize in direct loans specifically. Prior to finding Arkansas Bank and Trust Company, Minh was desperate due to their inexperience and fair credit rating.

Minh’s Overall FICO score at the time of acceptance for a direct loan, taking into account their fashion artist job and their future career as a credit analyst

Fico Score: 563

Conclusion of Minh’s direct loan

In the end, Minh was able to find a direct loan for $51000 with an interest rate of 6.8% interest APR from Arkansas Bank and Trust Company in Hot Springs, Arkansas repayable over 19 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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