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Secured Loan Of $87000 For Fair Credit Indiana Resident

$87000 Secured Loan – North Manchester Indiana, Credit Score Of 544

  • Experian: 558 – This client had a fair Experian rating
  • Transunion: 531 – Ellena had a fair credit rating with Transunion.
  • Equifax: Ellena’s Experian score was 544, which is a fair credit score on the Experian scale.

Signature Loan acquired in North Manchester, Indiana for $87000 with fair credit by Ellena

Most clients struggle with obtaining signature loans in North Manchester, Indiana, and Ellena is not an exception. Ellena went to 8 lenders or more before finding Indiana Lawrence Bank, who offered Ellena a signature loan for $87000. Most signature loans simply need a client, like Ellena’s signature to obtain them, up to $39,000 in some cases. Ellena was able to get $87000 as a secured loan, which is very high for a secured loan. Since signature loans don’t need collateral, they generally require higher credit, as high as 740

8 Months Ago, Ellena Attempted to Find a High Risk Loan for $33,000.00, but They Didn’t Find What They were Expecting

There is an existing struggle for clients to find high risk loans in a safe manner. Many high risk loans end up originating loan sharks or similar lenders, which can be physically harmful to borrowers like Ellena. Ellena chose not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to very low credit individuals. Borrowers with credit ratings as low as 481 can apply for a high risk loan and may be be accepted.

Ellena was declined by The Stockwell State Bank 7 times before being granted funding by Indiana Lawrence Bank at 106 North Market Street

On February 16, 2009, Ellena inquired about borrowing $26,000 from First Valley Bank with Eileen, their friend from just outside North Manchester, and even with the co-signer, Ellena was rejected for this secured loan. With fair credit, it can be a challenge to procure financing, even with collateral and a co-signer.

Client Profile: Ellena Bertinetti of North Manchester, Indiana
  • Full name (Changed if requested): Ellena Bertinetti
  • Current Credit: loans.hit.utils.Fico@277050dc
  • Current City: North Manchester
  • State: Indiana
  • Zip code: 46969
  • Yearly income: $61,000
  • Current Job: airline flight attendant
  • Current County: Wabash
  • Goal Yearly Income: $104,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $4000

Before applying for this secured loan, Ellena had an Experian score of 558, which is fair, so Indiana Lawrence Bank most likely cannot provide Ellena a secured loan

Experian Score: 558

Ellena’s Transunion score was altered by the secured loan loan, changing to 531 from 544, which is normal in our experience.

Transunion Score: 531

Ellena’s Overall FICO score at the time of acceptance for a secured loan, taking into account their airline flight attendant job and their future job as a medical records technician

Fico Score: 544

Fast Loans for Ellena in North Manchester, Indiana to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in North Manchester, Indiana aren’t actually that difficult to obtain, especially if you have some gumption like Ellena. Ellena was able to find a fast loan for $87000 from STAR, Financial Bank, Elwood and American State Bank, but turned down both offers in favor of their secured loan from Indiana Lawrence Bank. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 6 weeks for personal loans. An improvement if a client is in a time sensitive situation.

Contact Details for Indiana Lawrence Bank, the provider of this secured loan

  • Indiana Lawrence Bank
  • City: North Manchester
  • State: Indiana
  • Address: 106 North Market Street
  • County: Wabash
  • Zip code: 46962

Paraphrased and Standardized Quote from Ellena for this secured loan of $87000, provided by Indiana Lawrence Bank

Hello, I am Ellena and I’m from North Manchester in Indiana. Wabash, county is where I grew up, and now I need a secured loan in Indiana for $87000 to buy a car. It wasn’t easy, but Indiana Lawrence Bank really came through for me with this loan for 11.5% interest APR and a term of 14 years. I can probably repay the loan over the 14 year term, including interest. A big thanks to Indiana Lawrence Bank for trusting me and my fair credit. It look me 5 years to create my credit to 544, and I won’t harm it any more. I am happy with Find Texas Loans for assisting me this far.

Ellena has a low current total income, but has a large amount of prospects

Ellena has always wanted to be a medical records technician, but would need attend Indiana Wesleyan University again to achieve it. Ellena has other prospects as well, including computer hardware technician, art, and screen writer, which pay $58,000 through to $107,000 per year, on average. Because of this, we believe that Ellena can pay for this secured loan of $87000.

Installment loan for Ellena, a graduate of Indiana Wesleyan University and an airline flight attendant working for over $68,000 per year

Ellena, an alumnus at Indiana Wesleyan University and an airline flight attendant in North Manchester, Indiana needs a secured loan to purchase something frivolous. Ellena has instead decided to get an installment loan for $4,000 and is at present seeking lenders like The Union Bank to provide it.

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

Average debt consolidation loans vary from $29,000.00 to $51,000.00. They are mainly used to pay off existing high interest loans like credit cards. Ellena required a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Ellena 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, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans usually have interest rates as low as 2.3%.

Multiple other requests for credit have been made by Ellena in the past, including one from The Strongsville Savings Bank in North Manchester, Indiana before Ellena was accepted for the $87000 by Indiana Lawrence Bank

Ellena made 4 previous tries to obtain a secured loan, 2 of which were with The Strongsville Savings Bank, a lending institution in North Manchester, Indiana known to specialize in secured loans specifically. Prior to finding Indiana Lawrence Bank, Ellena was very concerned due to their inexperience and fair credit rating.

When Ellena was 23, they tried to obtain a student loan from 7 alternate lenders, which damaged their credit score. Below is a list of Ellena’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $28,000.00 on May 14, 2014
  • Attempt 2) Loan for $34,000.00 on December 21, 2008
  • Attempt 3) Loan for $20,000.00 on August 3, 2010
  • Attempt 4) Loan for $39,000.00 on October 27, 2009
  • Attempt 5) Loan for $22,000.00 on August 14, 2012
  • Attempt 6) Loan for $26,000.00 on March 30, 2009
  • Attempt 7) Loan for $24,000.00 on September 2, 2010

Personal Loan for an airline flight attendant named Ellena in North Manchester, Indiana to Pay Off NBT Bank College Rewards Visa Card

Ellena had a tonne of credit card debt on their Washington Nationals BankAmericard Cash Rewards MasterCard and their Miami Marlins BankAmericard Cash Rewards MasterCard, and they were starting to get in over their heads. Despite Ellena’s job as an airline flight attendant, they struggled to make payments on the $29,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Previous requests on Ellena’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$37660.00 8 10.2% $575.45 The Citizens Exchange Bank November 7, 2009
$38440.00 5 8.2% $783.11 Alliance Bank January 14, 2011
$37830.00 10 6.7% $433.41 Farmers State Bank April 19, 2011
$38490.00 10 6.8% $442.94 First United Bank, National Association September 24, 2012
$38480.00 5 10.3% $823.28 Farmers State Bank April 14, 2014

Conclusion of Ellena’s secured loan

In the end, Ellena was able to find a secured loan for $87000 with an interest rate of 7.7% interest APR from Indiana Lawrence Bank in North Manchester, Indiana repayable over 14 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.