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Low Rate High Risk Loan For Armanda In Kentwood, Michigan

$98000 High Risk Loan – Kentwood Michigan, Credit Rating Of 413

  • Experian: 424 – This client had a bad Experian rating
  • Transunion: 399 – Armanda had a bad credit rating with Transunion.
  • Equifax: Armanda’s Experian score was 413, which is a bad credit score using the Experian rating scheme.

Armanda’s Overall FICO score at the time of acceptance for a high risk loan, taking into account their fashion designer job and their future job as a civil engineering technician

Fico Score: 413

6 Months Ago, Armanda Attempted to Find a High Risk Loan for $26,000.00, and it was Hard

It is an well known struggle for clients to get high risk loans in a non-harmful way. a lot of high risk loans end up coming from loan sharks or the like, which can be frightening to borrowers like Armanda. Armanda decided not to get a high risk loan this time. High Risk loans are generally given by lenders to very low credit clients. Borrowers with credit scores as low as 456 can apply for a high risk loan and have a chance to be accepted.

When Armanda was 22, they tried to obtain a student loan from 7 alternate banks, which damaged their credit rating. Below is a list of Armanda’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $27,000.00 on December 25, 2008
  • Attempt 2) Loan for $21,000.00 on January 24, 2014
  • Attempt 3) Loan for $25,000.00 on February 23, 2011
  • Attempt 4) Loan for $38,000.00 on December 24, 2010
  • Attempt 5) Loan for $27,000.00 on January 9, 2011
  • Attempt 6) Loan for $29,000.00 on February 7, 2009
  • Attempt 7) Loan for $20,000.00 on November 4, 2010

Fast Loans for Armanda in Kentwood, Michigan to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Kentwood, Michigan aren’t actually that difficult to obtain, especially if you have some gumption like Armanda. Armanda was able to find a fast loan for $98000 from OSB Community Bank and OSB Community Bank, but turned down both offers in favor of their high risk loan from Kentwood Savings and Loan Association. The improvement with a fast loan over a installment loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 7 weeks for debt consolidation loans. A big improvement in the case that a borrower is in a time sensitive situation.

Previous requests on Armanda’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$21240.00 5 8.6% $436.8 Society Bank, Lenawee January 31, 2010
$20690.00 7 10.5% $348.85 Bank of Lenawee March 10, 2012
$20530.00 5 11.1% $447.4 First of America Bank – Alpena November 30, 2013
$21100.00 5 8.2% $429.85 NBD Ann Arbor, National Association January 9, 2014

Armanda was declined by Chemical Bank Cass City 6 times before being accepted by Kentwood Savings and Loan Association at 4660 Kalamazoo Avenue

On December 10, 2008, Armanda applied about borrowing $15,000 from Chemical Bank Cass City with Ellsworth, their in law from just outside Kentwood, and even with the co-signer, Armanda was rejected for this high risk loan. With bad credit, it can be challenging to procure financing, even with collateral and a co-signer.

Client Profile: Armanda Gram of Kentwood, Michigan
  • Full name (Changed if requested): Armanda Gram
  • Current Credit: loans.hit.utils.Fico@5c29bfd
  • Current City: Kentwood
  • State: Michigan
  • Zip code: 49509
  • Yearly income: $30,000
  • Current Job: fashion designer
  • Current County: Kent
  • Goal Yearly Income: $85,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $1000

Signature Loan found in Kentwood, Michigan for $98000 with bad credit by Armanda

A lot of prospective borrowers struggle with obtaining signature loans in Kentwood, Michigan, and Armanda is no exception. Armanda went to 6 lending institutions or more prior to settling on Kentwood Savings and Loan Association, who offered Armanda a signature loan for $98000. Most signature loans simply need a client, like Armanda’s signature to obtain them, up to $37,000 in some cases. Armanda was able to get $98000 as a high risk loan, which is very high for a high risk loan. Because signature loans don’t require a cosigner, they generally require improved credit, as high as 707

Paraphrased and Standardized Quote from Armanda for this high risk loan of $98000, provided by Kentwood Savings and Loan Association

Hi, I am Armanda and I am from Kentwood in Michigan. Kent, county is where I grew up, and now I need a high risk loan in Michigan for $98000 to buy a car. It wasn’t easy, but Kentwood Savings and Loan Association really came through for me with this loan for 6.1% interest APR and a term of 11 years. I can probably repay the loan over the 11 year term, including interest. A big thanks to Kentwood Savings and Loan Association for giving me a chance and my bad credit. It look me 7 years to build my credit to 413, and I won’t tarnish it any more. I am pleased with Find Texas Loans for helping me this far.

Installment loan for Armanda, a graduate of Olivet Nazarene University and a fashion designer working for over $76,000 per year

Armanda, an alumnus at Olivet Nazarene University and a fashion designer in Kentwood, Michigan wants a high risk loan to purchase a house. Armanda has instead decided to get an installment loan for $9,000 and is currently seeking lenders like NBD Genesee Bank to process their request.

Personal Loan for a fashion designer named Armanda in Kentwood, Michigan to Pay Off U.S. Pride BankAmericard Cash Rewards Visa Card

Armanda had a lot of credit card debt on their Speedway SuperFleet Credit Card and their New York Yankees BankAmericard Cash Rewards MasterCard, and they were starting to get in over their heads. Despite Armanda’s job as a fashion designer, they struggled to make payments on the $20,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Armanda has a disappointing current total income, but has several of prospects

Armanda has always wanted to be a civil engineering technician, but would have to attend Olivet Nazarene University again to become one. Armanda has other prospects as well, including mining machine operator, town clerk, and graphic designer, which pay $50,000 through to $98,000 per year, on average. For this reason, we think that Armanda can pay for this high risk loan of $98000.

Many previous requests for credit have been made by Armanda in the past, including one from Frontier Federal Savings Bank in Kentwood, Michigan before Armanda was approved for the $98000 by Kentwood Savings and Loan Association

Armanda made 6 previous tries to obtain a high risk loan, 2 of which were with Frontier Federal Savings Bank, a lender in Kentwood, Michigan known to specialize in high risk loans specifically. Before finding Kentwood Savings and Loan Association, Armanda was very concerned due to their inexperience and bad credit score.

Contact Details for Kentwood Savings and Loan Association, the provider of this high risk loan

  • Kentwood Savings and Loan Association
  • City: Kentwood
  • State: Michigan
  • Address: 4660 Kalamazoo Avenue
  • County: Kent
  • Zip code: 49508

Before applying for this high risk loan, Armanda had an Experian score of 424, which is bad, so Kentwood Savings and Loan Association most likely cannot provide Armanda a high risk loan

Experian Score: 424

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

Most debt consolidation loans vary from $35,000.00 to $42,000.00. They are mainly used to pay off existing high interest loans like credit cards. Armanda needed a debt consolidation loan to pay for their existing high risk loan and their credit card. Armanda was able to find a high risk loan in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which transfers your less desirable, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans usually have interest rates as low as 3.5%.

Armanda’s Transunion score was altered by the high risk loan loan, changing to 399 from 413, which is typical in our experience.

Transunion Score: 399

Conclusion of Armanda’s high risk loan

In the end, Armanda was able to find a high risk loan for $98000 with an interest rate of 7.8% interest APR from Kentwood Savings and Loan Association in Kentwood, Michigan repayable over 11 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.