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$42000 Signature Loan In Stockbridge Michigan With Credit Score 570 For Katy

$42000 Signature Loan – Stockbridge Michigan, Credit Rating Of 570

  • Experian: 580 – They had a fair Experian score
  • Transunion: 551 – Katy had a fair credit rating with Transunion.
  • Equifax: Katy’s Experian score was 570, which is a fair credit score with the Experian rating scheme.
Client Profile: Katy Wakley of Stockbridge, Michigan
  • Full name (Changed if requested): Katy Wakley
  • Current Credit: loans.hit.utils.Fico@1c655221
  • Current City: Stockbridge
  • State: Michigan
  • Zip code: 49292
  • Yearly income: $68,000
  • Current Job: mine inspector
  • Current County: Ingham
  • Goal Yearly Income: $97,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $4000

Installment loan for Katy, a graduate of Montclair State University and a mine inspector working for over $64,000 per year

Katy, an alumnus at Montclair State University and a mine inspector in Stockbridge, Michigan wants a signature loan to purchase a house. Katy has instead decided to get an installment loan for $25,000 and is at present seeking lenders like New Haven Savings Bank to process their request.

Katy’s Overall FICO score at the time of acceptance for a signature loan, taking into account their mine inspector job and their future job as a physician’s assistant

Fico Score: 570

Katy’s Transunion score was changed by the signature loan loan, changing to 551 from 570, which is typical in our experience.

Transunion Score: 551

Paraphrased and Standardized Quote from Katy for this signature loan of $42000, provided by SSBBank

Hi, I am Katy and I’m from Stockbridge in Michigan. Ingham, county is where I grew up, and now I need a signature loan in Michigan for $42000 to buy a big ticket item. It wasn’t easy, but SSBBank really came through for me with this loan for 10.1% interest APR and a term of 23 years. I can repay the loan over the 23 year term, including interest. A big thanks to SSBBank for giving me a chance and my fair credit. It look me 5 years to create my credit to 570, and I won’t harm it any more. I’m happy with Find Texas Loans for assisting me this far.

Debt Consolidation Will Help Most Deeply Indebted Borrower to Escape Bad Debts like Payday Loans

Average debt consolidation loans range from $24,000.00 to $56,000.00. They are mainly used to pay off existing high interest loans like credit cards. Katy needed a debt consolidation loan to pay for their existing signature loan and their credit card. Katy was able to find a signature loan in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which converts your less desirable, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans generally have interest rates as low as 4.8%.

7 Months in the Past, Katy Tried Finding a High Risk Loan for $28,000.00, but They Didn’t Find What They were Expecting

There is an well known struggle for clients to find high risk loans in a non-harmful way. a lot of high risk loans end up originating loan sharks or the like, which can be scary to borrowers like Katy. Katy chose not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit clients. Individuals with credit ratings as low as 582 can apply for a high risk loan and may be be approved.

Signature Loan found in Stockbridge, Michigan for $42000 with fair credit by Katy

Most borrowers struggle with finding signature loans in Stockbridge, Michigan, and Katy is no exception. Katy went to 4 lenders or more prior to finding SSBBank, who offered Katy a signature loan for $42000. Most signature loans simply require a client, like Katy’s signature to get them, up to $27,000 in some cases. Katy was able to get $42000 as a signature loan, which is very high for a signature loan. Because signature loans don’t require collateral, these loans tend to need improved credit, as high as 736

When Katy was 18, they attempted to obtain a student loan from 4 alternate lenders, which harmed their credit score. Below is a list of Katy’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $37,000.00 on October 16, 2011
  • Attempt 2) Loan for $29,000.00 on October 26, 2008
  • Attempt 3) Loan for $35,000.00 on September 30, 2011
  • Attempt 4) Loan for $31,000.00 on December 18, 2010

Previous requests on Katy’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$25110.00 8 8.7% $363.97 Society Bank, Lenawee August 13, 2012
$24760.00 9 9.2% $337.95 Bank of Lenawee January 9, 2014
$25150.00 3 9.3% $803.28 First of America Bank – Alpena February 5, 2014
$24530.00 5 9.8% $518.78 NBD Ann Arbor, National Association July 28, 2014
$25310.00 4 6.1% $595.57 First of America Bank – Mid Michigan, National Association September 10, 2014

Contact Details for SSBBank, the provider of this signature loan

  • SSBBank
  • City: Stockbridge
  • State: Michigan
  • Address: 122 West Main Street
  • County: Ingham
  • Zip code: 49285

Katy has a very low current gross income, but has a high number of prospects

Katy has always wanted to be a physician’s assistant, but would need attend Montclair State University again to become one. Katy has other prospects as well, including package designer, tax lawyer, and educational resource coordinator, which pay $50,000 through to $92,000 per year, at least. Because of this, we believe that Katy can afford this signature loan of $42000.

Several past requests for credit have been made by Katy in the past, including one from Community Bank of Arizona in Stockbridge, Michigan before Katy was approved for the $42000 by SSBBank

Katy made 6 previous tries to obtain a signature loan, 2 of which were with Community Bank of Arizona, a lender in Stockbridge, Michigan known to specialize in signature loans specifically. Prior to finding SSBBank, Katy was concerned due to their inexperience and fair credit score.

Katy was not approved by Society Bank, Lenawee 7 times before being approved by SSBBank at 122 West Main Street

On March 19, 2013, Katy inquired about borrowing $24,000 from Eastern Michigan Bank with Johanne, their friend from just outside Stockbridge, and even with the co-signer, Katy was rejected for this signature loan. With fair credit, it can be a challenge to obtain funding, even with collateral and a co-signer.

Fast Loans for Katy in Stockbridge, Michigan to prevent bankruptcy or harm from debt collectors.

Fast loans in Stockbridge, Michigan aren’t actually that difficult to obtain, especially if you have some gumption like Katy. Katy was able to find a fast loan for $42000 from NBD Grand Haven and First of America Bank – Manistee, but declined both offers in favor of their signature loan from SSBBank. The improvement with a fast loan over a debt consolidation loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 7 weeks for installment loans. A big difference in the case that a borrower is in a pinch.

Before applying for this signature loan, Katy had an Experian score of 580, which is fair, so SSBBank likely cannot provide Katy a signature loan

Experian Score: 580

Personal Loan for a mine inspector named Katy in Stockbridge, Michigan to Pay Off Lord & Taylor Credit Card

Katy had a tonne of credit card debt on their Value City Furniture Credit Card and their Ohio Savings Bank Visa Signature Card with Maximum Rewards, and they were starting to get in over their heads. Despite Katy’s job as a mine inspector, they struggled to make payments on the $23,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Conclusion of Katy’s signature loan

In the end, Katy was able to find a signature loan for $42000 with an interest rate of 11.8% interest APR from SSBBank in Stockbridge, Michigan repayable over 23 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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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.