$48000 Secured Loan – Le Center Minnesota, Credit Score Of 597
- Experian: 612 – The client had a fair Experian rating
- Transunion: 583 – Renda had a fair credit rating with Transunion.
- Equifax: Renda’s Experian score was 597, which is a fair credit rating on the Experian scale.
Renda has a disappointing current gross income, but has a large amount of prospects
Renda has always wanted to be a cartographer, but would have to attend Cleveland State Community College again to become one. Renda has other prospects as well, including medical assistant, fence installer, and fishery worker supervisor, which pay $50,000 through to $91,000 per year, at least. Because of this, we believe that Renda can pay for this secured loan of $48000.
Contact Details for The First National Bank of Le Center, the provider of this secured loan
- The First National Bank of Le Center
- City: Le Center
- State: Minnesota
- Address: 10 West Minnesota Street
- County: Le Sueur
- Zip code: 56057
Personal Loan for a marine and aquatic biologist named Renda in Le Center, Minnesota to Pay Off J. Jill Credit Card
Renda had a lot of credit card debt on their Lowes Canada Credit Card and their I Fly America Visa Card, and they were starting to get in over their heads. Despite Renda’s job as a marine and aquatic biologist, they struggled to make payments on the $23,000.00 credit card balance, desperately needing assistance in the form of a personal loan.
Fast Loans for Renda in Le Center, Minnesota to prevent bankruptcy or broken legs from debt collectors.
Fast loans in Le Center, Minnesota aren’t actually that difficult to obtain, especially if you have some finesse like Renda. Renda was able to find a fast loan for $48000 from Marquette Bank University, National Association and Citizens Alliance Bank, but declined both offers in favor of their secured loan from The First National Bank of Le Center. The improvement with a fast loan over a personal loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 5 weeks for debt consolidation loans. Much better if a client is in a pinch.
When Renda was 22, they tried to obtain a student loan from 4 alternate lenders, which damaged their credit score. Below is a list of Renda’s prior attempts at finding a student loan:
- Attempt 1) Loan for $27,000.00 on August 8, 2009
- Attempt 2) Loan for $24,000.00 on January 7, 2010
- Attempt 3) Loan for $27,000.00 on February 2, 2012
- Attempt 4) Loan for $26,000.00 on January 23, 2009
Renda’s Transunion score was altered by the secured loan loan, changing to 583 from 597, which is typical in our experience.
Renda was not approved by American Bank Mankato 7 times before being granted funding by The First National Bank of Le Center at 10 West Minnesota Street
On January 15, 2010, Renda inquired about borrowing $49,000 from Princeton Bank with Keisha, their in law from just outside Le Center, and even with the co-signer, Renda was rejected for this secured loan. With fair credit, it can be very hard to obtain funding, even with collateral and a co-signer.
Debt Consolidation Will Assist Most Highly Indebted Borrower to Escape Bad Debts like Credit Card Debt
Most debt consolidation loans range from $27,000.00 to $41,000.00. They are normally used to pay off existing high interest loans like credit cards. Renda needed a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Renda was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a tactic in the strategic borrowing method which converts your less desirable, high interest loans to one lower interest loan. Debt consolidation loans generally have interest rates that are low, like 3.0%.
Before applying for this secured loan, Renda had an Experian score of 612, which is fair, so The First National Bank of Le Center likely cannot provide Renda a secured loan
Installment loan for Renda, a graduate of Cleveland State Community College and a marine and aquatic biologist working for over $63,000 per year
Renda, an alumnus at Cleveland State Community College and a marine and aquatic biologist in Le Center, Minnesota wants a secured loan to purchase something frivolous. Renda has instead decided to obtain an installment loan for $22,000 and is currently seeking lenders like Citizens Alliance Bank to provide it.
Paraphrased and Standardized Quote from Renda for this secured loan of $48000, provided by The First National Bank of Le Center
Hello, I am Renda and I’m from Le Center in Minnesota. Le Sueur, county is where I grew up, and now I need a secured loan in Minnesota for $48000 to pay bills. It wasn’t easy, but The First National Bank of Le Center really came through for me with this loan for 10.3% interest APR and a term of 18 years. I can probably repay the loan over the 18 year term, including interest. A big thanks to The First National Bank of Le Center for trusting me and my fair credit. It look me 9 years to build my credit to 597, and I won’t tarnish it any more. I am pleased with Find Texas Loans for helping me this far.
- Full name (Changed if requested): Renda Gabhart
- Current Credit: loans.hit.utils.Fico@58d25a40
- Current City: Le Center
- State: Minnesota
- Zip code: 56063
- Yearly income: $36,000
- Current Job: marine and aquatic biologist
- Current County: Le Sueur
- Goal Yearly Income: $125,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $3000
7 Months in the Past, Renda Attempted to Find a High Risk Loan for $21,000.00, and it was Hard
There is an existing struggle for borrowers to get high risk loans in a non-harmful way. Many high risk loans end up originating loan sharks or the like, which can be physically harmful to borrowers like Renda. Renda decided not to get a high risk loan this time. High Risk loans are given to very low credit individuals. Clients with credit scores as low as 579 can apply for a high risk loan and may be be accepted.
Several previous requests for credit have been made by Renda in the past, including one from United Bank in Le Center, Minnesota before Renda was approved for the $48000 by The First National Bank of Le Center
Renda made 8 previous attempts to obtain a secured loan, 2 of which were with United Bank, a bank in Le Center, Minnesota known to specialize in secured loans specifically. Prior to finding The First National Bank of Le Center, Renda was very concerned due to their inexperience and fair credit score.
Previous requests on Renda’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$98380.00||9||10.1%||$1390.39||Marquette Bank Cannon Falls||May 25, 2009|
|$98420.00||6||10.4%||$1843.23||Root River State Bank||January 18, 2012|
|$98150.00||8||8.8%||$1427.75||Clinton State Bank||March 31, 2012|
|$97830.00||8||7.5%||$1358.26||Peoples State Bank of Plainview||November 23, 2012|
Signature Loan found in Le Center, Minnesota for $48000 with fair credit by Renda
A lot of prospective borrowers struggle with finding signature loans in Le Center, Minnesota, and Renda is not an exception. Renda went to 4 lending institutions or more before settling on The First National Bank of Le Center, who offered Renda a signature loan for $48000. Typical signature loans simply need a client, like Renda’s signature to get them, up to $34,000 in some cases. Renda was able to get $48000 as a secured loan, which is very high for a secured loan. Because signature loans don’t need a cosigner, they tend to need improved credit, as high as 706
Renda’s Overall FICO score at the time of acceptance for a secured loan, taking into account their marine and aquatic biologist job and their future career as a cartographer
Conclusion of Renda’s secured loan
In the end, Renda was able to find a secured loan for $48000 with an interest rate of 6.3% interest APR from The First National Bank of Le Center in Le Center, Minnesota repayable over 18 years from today.