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$141000 No Collateral Loan In Cedar Rapids Iowa With Credit Score 557 For Janell

$141000 No Collateral Loan – Cedar Rapids Iowa, Credit Rating Of 557

  • Experian: 568 – This individual had a fair Experian score
  • Transunion: 544 – Janell had a fair credit score with Transunion.
  • Equifax: Janell’s Experian score was 557, which is a fair credit rating using the Experian system.

When Janell was 21, they tried to obtain a student loan from 5 different banks, which damaged their credit score. Below is a list of Janell’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $29,000.00 on December 16, 2009
  • Attempt 2) Loan for $28,000.00 on June 6, 2012
  • Attempt 3) Loan for $23,000.00 on September 29, 2011
  • Attempt 4) Loan for $37,000.00 on August 14, 2009
  • Attempt 5) Loan for $23,000.00 on May 27, 2009

Contact Details for Family Merchants Bank, the provider of this no collateral loan

  • Family Merchants Bank
  • City: Cedar Rapids
  • State: Iowa
  • Address: 600 Boyson Road Northeast
  • County: Linn
  • Zip code: 52402

Paraphrased and Standardized Quote from Janell for this no collateral loan of $141000, provided by Family Merchants Bank

Hi, I am Janell and I am from Cedar Rapids in Iowa. Linn, county is where I grew up, and now I need a no collateral loan in Iowa for $141000 to buy a car. It has been difficult, but Family Merchants Bank really came through for me with this loan for 11.1% interest APR and a term of 13 years. I can probably repay the loan over the 13 year term, including interest. A big thanks to Family Merchants Bank for giving me a chance and my fair credit. It look me 4 years to build my credit to 557, and I won’t harm it any more. I am happy with Find Texas Loans for assisting me this far.

Client Profile: Janell Wackerly of Cedar Rapids, Iowa
  • Full name (Changed if requested): Janell Wackerly
  • Current Credit: loans.hit.utils.Fico@64a294a6
  • Current City: Cedar Rapids
  • State: Iowa
  • Zip code: 52409
  • Yearly income: $53,000
  • Current Job: script editor
  • Current County: Linn
  • Goal Yearly Income: $126,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $1000

Fast Loans for Janell in Cedar Rapids, Iowa to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Cedar Rapids, Iowa aren’t actually that difficult to obtain, especially if you have some finesse like Janell. Janell was able to find a fast loan for $141000 from Manson State Bank and First State Savings Bank, but declined both offers in favor of their no collateral loan from Family Merchants Bank. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 6 weeks for personal loans. A big difference if a borrower is on the go.

Before applying for this no collateral loan, Janell had an Experian score of 568, which is fair, so Family Merchants Bank probably cannot provide Janell a no collateral loan

Experian Score: 568

Janell has a very low current yearly income, but has several of prospects

Janell has always wanted to be a sport’s/entertainment agent, but would have to attend Bethel University again to become one. Janell has other possibilities as well, including public relations specialist, model makers, and marina boat charter administrator, which pay $54,000 through to $97,000 per year, at least. Because of this, we believe that Janell can afford this no collateral loan of $141000.

Personal Loan for a script editor named Janell in Cedar Rapids, Iowa to Pay Off ISPFCU Credit Cards

Janell had a lot of credit card debt on their Nordstrom Visa Signature Card and their Union Plus MasterCard, and they were starting to get in over their heads. Despite Janell’s job as a script editor, they struggled to make payments on the $26,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Janell’s Overall FICO score at the time of acceptance for a no collateral loan, taking into account their script editor job and their future job as a sport’s/entertainment agent

Fico Score: 557

Previous requests on Janell’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$76350.00 3 5.2% $2295.14 Mills County Bank National Association May 5, 2011
$76300.00 11 8.4% $887.52 Postville State Bank May 14, 2012
$76300.00 10 8.4% $941.93 Washington State Bank July 23, 2012
$76380.00 5 9.5% $1604.12 Rippey Savings Bank December 25, 2013
$76330.00 6 10.3% $1425.65 Iowa State Bank December 30, 2013

8 Months Ago, Janell Attempted Finding a High Risk Loan for $36,000.00, and it was Hard

There is an ongoing struggle for borrowers to get high risk loans in a safe way. Many high risk loans end up originating loan sharks or similar lenders, which can be physically harmful to borrowers like Janell. Janell decided not to obtain a high risk loan this time. High Risk loans are given to terrible credit applicants. Individuals with credit scores as low as 353 can inquire for a high risk loan and have a chance to be approved.

Multiple past requests for credit have been made by Janell in the past, including one from The Gulf National Bank in Cedar Rapids, Iowa before Janell was approved for the $141000 by Family Merchants Bank

Janell made 4 previous attempts to obtain a no collateral loan, 2 of which were with The Gulf National Bank, a lender in Cedar Rapids, Iowa known to specialize in no collateral loans specifically. Prior to finding Family Merchants Bank, Janell was desperate due to their inexperience and fair credit rating.

Installment loan for Janell, a graduate of Bethel University and a script editor working for over $78,000 per year

Janell, an alumnus at Bethel University and a script editor in Cedar Rapids, Iowa wants a no collateral loan to purchase a car. Janell has instead chosen to obtain an installment loan for $3,000 and is currently seeking lenders like American Interstate Bank to process their request.

Signature Loan acquired in Cedar Rapids, Iowa for $141000 with fair credit by Janell

Most borrowers struggle with finding signature loans in Cedar Rapids, Iowa, and Janell is no different. Janell went to 5 lenders or more before settling on Family Merchants Bank, who offered Janell a signature loan for $141000. Most signature loans simply require a client, like Janell’s signature to obtain them, up to $40,000 in some cases. Janell was able to get $141000 as a no collateral loan, which is very high for a no collateral loan. Because signature loans do not require collateral, they generally need higher credit, as high as 715

Janell’s Transunion score was changed by the no collateral loan loan, changing to 544 from 557, which is normal in our experience.

Transunion Score: 544

Debt Consolidation Can Assist Most Deeply Indebted Borrower to Escape Bad Debts like Loan Sharks

Average debt consolidation loans vary from $27,000.00 to $56,000.00. They are normally used to pay off existing high interest loans like credit cards. Janell required a debt consolidation loan to pay for their existing no collateral loan and their loan shark loan. Janell was able to find a no collateral loan in the end. Debt consolidation, or just consolidation, is a technique in the debt snowball method which converts your bad, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 4.6%.

Janell was declined by Iowa State Bank 7 times before being granted funding by Family Merchants Bank at 600 Boyson Road Northeast

On June 29, 2013, Janell applied about borrowing $12,000 from Iowa State Bank with Armida, their in law from just outside Cedar Rapids, and even with the co-signer, Janell was rejected for this no collateral loan. With fair credit, it can be a challenge to procure financing, even with collateral and a co-signer.

Conclusion of Janell’s no collateral loan

In the end, Janell was able to find a no collateral loan for $141000 with an interest rate of 7.2% interest APR from Family Merchants Bank in Cedar Rapids, Iowa repayable over 13 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.