$98000 Secured Loan – Deer Creek Minnesota, Credit Rating Of 580
- Experian: 599 – The client had a fair Experian score
- Transunion: 566 – Karmen had a fair credit score with Transunion.
- Equifax: Karmen’s Experian score was 580, which is a fair credit rating on the Experian scale.
Paraphrased and Standardized Quote from Karmen for this secured loan of $98000, provided by Security State Bank of Deer Creek
Hello, I am Karmen and I am from Deer Creek in Minnesota. Otter Tail, county is where I grew up, and now I need a secured loan in Minnesota for $98000 to buy a big ticket item. It has been difficult, but Security State Bank of Deer Creek really came through for me with this loan for 8.2% interest APR and a term of 16 years. I can repay the loan over the 16 year term, including interest. A big thanks to Security State Bank of Deer Creek for giving me a chance and my fair credit. It look me 7 years to build my credit to 580, and I won’t tarnish it any more. I am pleased with Find Texas Loans for helping me this far.
Karmen was not approved by Citizens State Bank of Gaylord 6 times prior to being accepted by Security State Bank of Deer Creek at Main Street
On November 8, 2009, Karmen inquired about borrowing $16,000 from Security State Bank of Wykoff with Janay, their friend from just outside Deer Creek, and even with the co-signer, Karmen was rejected for this secured loan. With fair credit, it can be difficult to obtain funding, even with collateral and a co-signer.
Before applying for this secured loan, Karmen had an Experian score of 599, which is fair, so Security State Bank of Deer Creek likely cannot provide Karmen a secured loan
Signature Loan found in Deer Creek, Minnesota for $98000 with fair credit by Karmen
Most borrowers have difficulty with obtaining signature loans in Deer Creek, Minnesota, and Karmen is the same. Karmen went to 7 lending institutions or more prior to settling on Security State Bank of Deer Creek, who offered Karmen a signature loan for $98000. Most signature loans simply require a client, like Karmen’s signature to get them, up to $48,000 in some cases. Karmen was able to get $98000 as a secured loan, which is very high for a secured loan. Since signature loans do not require a cosigner, they generally need improved credit, as high as 702
Karmen’s Transunion score was altered by the secured loan loan, changing to 566 from 580, which is normal in our experience.
Previous requests on Karmen’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$56140.00||8||10.2%||$857.83||Marquette Bank Cannon Falls||October 17, 2010|
|$55510.00||6||11.6%||$1073.72||Root River State Bank||March 19, 2013|
|$56440.00||11||7.4%||$626.2||Clinton State Bank||June 21, 2014|
|$56390.00||8||9.1%||$829.05||Peoples State Bank of Plainview||August 14, 2014|
|$55790.00||5||9.2%||$1163.53||Security State Bank of Wykoff||November 29, 2014|
6 Months in the Past, Karmen Tried to Find a High Risk Loan for $39,000.00, and it was Easy
There is an existing struggle for borrowers to find high risk loans in a safe way. a lot of high risk loans end up originating loan sharks or similar lenders, which can be scary to borrowers like Karmen. Karmen chose not to obtain a high risk loan this time. High Risk loans are generally given by lenders to very low credit applicants. Individuals with credit ratings as low as 362 can apply for a high risk loan and possibly can be accepted.
Fast Loans for Karmen in Deer Creek, Minnesota to prevent bankruptcy or bodily harm from debt collectors.
Fast loans in Deer Creek, Minnesota aren’t actually that difficult to obtain, particularly if you have some gumption like Karmen. Karmen was able to find a fast loan for $98000 from Minnwest Bank Central and Lakes State Bank, but turned down both offers in favor of their secured loan from Security State Bank of Deer Creek. The improvement with a fast loan over a personal loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 6 weeks for installment loans. A big improvement if a client is in a pinch.
Karmen’s Overall FICO score at the time of acceptance for a secured loan, taking into account their deaf students teacher job and their future career as a nuclear equipment operation technician
Multiple past requests for credit have been made by Karmen in the past, including one from The Bank in Deer Creek, Minnesota before Karmen was accepted for the $98000 by Security State Bank of Deer Creek
Karmen made 5 previous tries to obtain a secured loan, 2 of which were with The Bank, a lender in Deer Creek, Minnesota known to specialize in secured loans specifically. Prior to finding Security State Bank of Deer Creek, Karmen was very concerned due to their inexperience and fair credit score.
Debt Consolidation Will Assist Most Deeply Indebted Borrower to Escape Bad Debts like Payday Loans
Average debt consolidation loans range from $30,000.00 to $45,000.00. They are mainly used to pay off existing high interest loans like credit cards. Karmen required a debt consolidation loan to pay for their existing secured loan and their payday loan. Karmen was able to find a secured loan in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which converts your dirty, high interest loans to one lower interest loan. Debt consolidation loans usually have interest rates that are low, like 4.6%.
Karmen has a sad current yearly income, but has a high number of prospects
Karmen has always wanted to be a nuclear equipment operation technician, but would have to attend ATI Career Training Center – Dallas again to achieve it. Karmen has other prospects as well, including packaging machine operator, telecommunications maintenance worker, and vocational education instructors college, which pay $56,000 through to $105,000 per year, at least. For this reason, we think that Karmen can pay for this secured loan of $98000.
Personal Loan for a deaf students teacher named Karmen in Deer Creek, Minnesota to Pay Off Chase +1 Student MasterCard
Karmen had a tonne of credit card debt on their Wells Fargo Platinum Visa Card and their BankFIRST Secured Visa Card, and they were starting to get in over their heads. Despite Karmen’s job as a deaf students teacher, they struggled to make payments on the $25,000.00 credit card balance, desperately needing assistance in the form of a personal loan.
Contact Details for Security State Bank of Deer Creek, the provider of this secured loan
- Security State Bank of Deer Creek
- City: Deer Creek
- State: Minnesota
- Address: Main Street
- County: Otter Tail
- Zip code: 56527
Installment loan for Karmen, a graduate of ATI Career Training Center – Dallas and a deaf students teacher working for over $66,000 per year
Karmen, an alumnus at ATI Career Training Center – Dallas and a deaf students teacher in Deer Creek, Minnesota wants a secured loan to purchase a car. Karmen has instead chosen to obtain an installment loan for $29,000 and is currently seeking lenders like Clinton State Bank to provide it.
- Full name (Changed if requested): Karmen Taublee
- Current Credit: loans.hit.utils.Fico@4783da3f
- Current City: Deer Creek
- State: Minnesota
- Zip code: 56528
- Yearly income: $39,000
- Current Job: deaf students teacher
- Current County: Otter Tail
- Goal Yearly Income: $106,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $6000
When Karmen was 18, they tried to obtain a student loan from 5 alternate banks, which damaged their credit score. Below is a chronology of Karmen’s previous attempts at finding a student loan:
- Attempt 1) Loan for $31,000.00 on December 12, 2010
- Attempt 2) Loan for $38,000.00 on December 29, 2012
- Attempt 3) Loan for $24,000.00 on September 25, 2010
- Attempt 4) Loan for $30,000.00 on March 29, 2011
- Attempt 5) Loan for $34,000.00 on February 19, 2010
Conclusion of Karmen’s secured loan
In the end, Karmen was able to find a secured loan for $98000 with an interest rate of 10.7% interest APR from Security State Bank of Deer Creek in Deer Creek, Minnesota repayable over 16 years from now.