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$188000 High Risk Loan With Fair Credit In Katy Texas

$188000 High Risk Loan – Katy Texas, Credit Score Of 597

  • Experian: 607 – They had a fair Experian rating
  • Transunion: 580 – Israel had a fair credit rating with Transunion.
  • Equifax: Israel’s Experian score was 597, which is a fair credit score on the Experian rating scheme.

7 Months Ago, Israel Tried Finding a High Risk Loan for $47,000.00, and it was Hard

There is an existing struggle for borrowers to find high risk loans in a safe manner. a lot of high risk loans end up coming from loan sharks or similar lenders, which can be physically harmful to borrowers like Israel. Israel decided not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to bad credit individuals. Borrowers with credit scores as low as 481 can apply for a high risk loan and may be be approved.

Previous requests on Israel’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$71420.00 8 10.1% $1087.52 Comerica Bank May 12, 2010
$71170.00 10 6.6% $811.75 First Star Bank, S.S.B. March 28, 2011
$70850.00 8 6.1% $934.52 Brownfield State Bank & Trust Co. May 15, 2013
$70700.00 7 8.4% $1116.09 First Bank & Trust, Bryan, Texas April 18, 2014
$70900.00 4 11.4% $1846.25 First Bank & Trust of Clarendon December 21, 2014

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

Average debt consolidation loans vary from $29,000.00 to $50,000.00. They are typically used to pay off existing high interest loans like credit cards. Israel needed a debt consolidation loan to pay for their existing high risk loan and their payday loan. Israel was able to find a high risk loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which converts your bad, high interest loans to one lower interest loan. Debt consolidation loans usually have interest rates that are low, like 4.5%.

Israel has a low current yearly income, but has a large amount of prospects

Israel has always wanted to be a soil conservationist, but would need attend Lower Columbia College again to achieve it. Israel has other prospects as well, including certified public accountant, fish hatchery specialist, and registrar administrator, which pay $51,000 through to $105,000 per year, on average. Because of this, we think that Israel can afford this high risk loan of $188000.

Israel’s Transunion score was altered by the high risk loan loan, changing to 580 from 597, which is normal in our experience.

Transunion Score: 580

Israel’s Overall FICO score at the time of acceptance for a high risk loan, taking into account their city planning aide job and their future career as a soil conservationist

Fico Score: 597

Personal Loan for a city planning aide named Israel in Katy, Texas to Pay Off Stein Mart Style Credit Card

Israel had a tonne of credit card debt on their Wells Fargo Platinum Visa Card and their Gymboree Visa Platinum Credit Card, and they were starting to get in over their heads. Despite Israel’s job as a city planning aide, they struggled to make payments on the $28,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Fast Loans for Israel in Katy, Texas to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Katy, Texas aren’t actually that difficult to obtain, especially if you have some gumption like Israel. Israel was able to find a fast loan for $188000 from First Consolidated Bank – Ferris and First State Bank of Mathis, but turned down both offers in favor of their high risk loan from Katy National Bank. 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 7 weeks for debt consolidation loans. An improvement in the case that a client is in a time sensitive situation.

Multiple previous requests for credit have been made by Israel in the past, including one from Brevard Federal Savings and Loan Association in Katy, Texas before Israel was approved for the $188000 by Katy National Bank

Israel made 9 previous tries to obtain a high risk loan, 2 of which were with Brevard Federal Savings and Loan Association, a bank in Katy, Texas known to specialize in high risk loans specifically. Prior to finding Katy National Bank, Israel was very concerned due to their inexperience and fair credit rating.

Installment loan for Israel, a graduate of Lower Columbia College and a city planning aide working for over $69,000 per year

Israel, an alumnus at Lower Columbia College and a city planning aide in Katy, Texas needs a high risk loan to purchase a car. Israel has instead chosen to obtain an installment loan for $5,000 and is currently seeking lenders like First Community Bank San Antonio, National Association to provide it.

When Israel was 19, they attempted to obtain a student loan from 7 alternate lenders, which harmed their credit score. Below is a list of Israel’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $27,000.00 on March 24, 2009
  • Attempt 2) Loan for $37,000.00 on December 25, 2012
  • Attempt 3) Loan for $31,000.00 on March 27, 2013
  • Attempt 4) Loan for $24,000.00 on June 5, 2010
  • Attempt 5) Loan for $32,000.00 on August 7, 2009
  • Attempt 6) Loan for $33,000.00 on October 16, 2013
  • Attempt 7) Loan for $22,000.00 on February 19, 2013

Israel was declined by First Consolidated Bank – Ferris 4 times prior to being approved by Katy National Bank at 5622 Third Street

On October 24, 2011, Israel inquired about borrowing $16,000 from First Consolidated Bank – Ferris with Mikki, their friend from just outside Katy, and even with the co-signer, Israel was rejected for this high risk loan. With fair credit, it can be a challenge to obtain financing, even with collateral and a co-signer.

Contact Details for Katy National Bank, the provider of this high risk loan

  • Katy National Bank
  • City: Katy
  • State: Texas
  • Address: 5622 Third Street
  • County: Harris
  • Zip code: 77450
Client Profile: Israel Gordon of Katy, Texas
  • Full name (Changed if requested): Israel Gordon
  • Current Credit: loans.hit.utils.Fico@123a439b
  • Current City: Katy
  • State: Texas
  • Zip code: 77459
  • Yearly income: $62,000
  • Current Job: city planning aide
  • Current County: Harris
  • Goal Yearly Income: $101,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $1000

Before applying for this high risk loan, Israel had an Experian score of 607, which is fair, so Katy National Bank probably cannot provide Israel a high risk loan

Experian Score: 607

Signature Loan easily acquired in Katy, Texas for $188000 with fair credit by Israel

Most borrowers have difficulty with finding signature loans in Katy, Texas, and Israel is no different. Israel went to 6 lenders or more prior to finding Katy National Bank, who offered Israel a signature loan for $188000. Most signature loans simply require a client, like Israel’s signature to obtain them, up to $29,000 in some cases. Israel was able to get $188000 as a high risk loan, which is very high for a high risk loan. Because signature loans don’t need a cosigner, they tend to need higher credit, as high as 719

Paraphrased and Standardized Quote from Israel for this high risk loan of $188000, provided by Katy National Bank

Hi, I am Israel and I’m from Katy in Texas. Harris, county is where I grew up, and now I need a high risk loan in Texas for $188000 to renovate my home. It wasn’t easy, but Katy National Bank really came through for me with this loan for 6.2% interest APR and a term of 12 years. I can repay the loan over the 12 year term, including interest. A big thanks to Katy National Bank for trusting me and my fair credit. It look me 5 years to build my credit to 597, and I won’t harm it any more. I am happy with Find Texas Loans for assisting me this far.

Conclusion of Israel’s high risk loan

In the end, Israel was able to find a high risk loan for $188000 with an interest rate of 7.5% interest APR from Katy National Bank in Katy, Texas repayable over 12 years from today.

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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