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Unsecured Loan With Reasonable APR In Passaic County, New Jersey

$105000 Unsecured Loan – Paterson New Jersey, Credit Score Of 629

  • Experian: 640 – The client had a good Experian score
  • Transunion: 614 – Aretha had a good credit score with Transunion.
  • Equifax: Aretha’s Experian score was 629, which is a good credit rating with the Experian scale.

Paraphrased and Standardized Quote from Aretha for this unsecured loan of $105000, provided by Northeastern Bank

Hi, I am Aretha and I’m from Paterson in New Jersey. Passaic, county is where I grew up, and now I need a unsecured loan in New Jersey for $105000 to buy a car. It wasn’t easy, but Northeastern Bank really came through for me with this loan for 9.0% interest APR and a term of 21 years. I can probably repay the loan over the 21 year term, including interest. A big thanks to Northeastern Bank for giving me a chance and my good credit. It look me 4 years to build my credit to 629, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for helping me this far.

When Aretha was 18, they tried to obtain a student loan from 6 different lenders, which damaged their credit rating. Below is a chronology of Aretha’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $35,000.00 on September 12, 2009
  • Attempt 2) Loan for $29,000.00 on April 4, 2010
  • Attempt 3) Loan for $27,000.00 on October 12, 2013
  • Attempt 4) Loan for $24,000.00 on December 24, 2010
  • Attempt 5) Loan for $39,000.00 on October 6, 2009
  • Attempt 6) Loan for $24,000.00 on November 27, 2011

Personal Loan for a hardwood floor finisher named Aretha in Paterson, New Jersey to Pay Off EverBank EverCard Visa Platinum

Aretha had a lot of credit card debt on their USAA Rewards World MasterCard and their Boston Red Sox BankAmericard Cash Rewards MasterCard, and they were starting to get in over their heads. Despite Aretha’s job as a hardwood floor finisher, they struggled to make payments on the $29,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Aretha’s Overall FICO score at the time of acceptance for an unsecured loan, taking into account their hardwood floor finisher job and their future career as a dental hygienist

Fico Score: 629

Aretha’s Transunion score was changed by the unsecured loan loan, changing to 614 from 629, which is normal in our experience.

Transunion Score: 614

Client Profile: Aretha Ticer of Paterson, New Jersey
  • Full name (Changed if requested): Aretha Ticer
  • Current Credit: loans.hit.utils.Fico@1c655221
  • Current City: Paterson
  • State: New Jersey
  • Zip code: 7510
  • Yearly income: $49,000
  • Current Job: hardwood floor finisher
  • Current County: Passaic
  • Goal Yearly Income: $82,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $4000

Contact Details for Northeastern Bank, the provider of this unsecured loan

  • Northeastern Bank
  • City: Paterson
  • State: New Jersey
  • Address: 148 Market Street
  • County: Passaic
  • Zip code: 7509

Multiple past requests for credit have been made by Aretha in the past, including one from McCune State Bank in Paterson, New Jersey before Aretha was approved for the $105000 by Northeastern Bank

Aretha made 9 prior attempts to obtain an unsecured loan, 2 of which were with McCune State Bank, a bank in Paterson, New Jersey known to specialize in unsecured loans specifically. Before finding Northeastern Bank, Aretha was desperate due to their inexperience and good credit rating.

Signature Loan found in Paterson, New Jersey for $105000 with good credit by Aretha

A lot of borrowers struggle with finding signature loans in Paterson, New Jersey, and Aretha is the same. Aretha went to 6 lending institutions or more prior to finding Northeastern Bank, who offered Aretha a signature loan for $105000. Most signature loans simply require a client, like Aretha’s signature to get them, up to $31,000 in some cases. Aretha was able to get $105000 as a unsecured loan, which is very high for an unsecured loan. Since signature loans do not require collateral, they tend to require higher credit, as high as 789

Aretha has a sad current yearly income, but has a large amount of prospects

Aretha has always wanted to be a dental hygienist, but would need attend Wake Technical Community College again to achieve it. Aretha has other possibilities as well, including office machine mechanic, airline flight attendant, and hazardous materials removal worker, which pay $58,000 through to $93,000 per year, at least. Because of this, we think that Aretha can pay for this unsecured loan of $105000.

8 Months Ago, Aretha Tried Finding a High Risk Loan for $24,000.00, and it was Easy

It is an ongoing struggle for clients to find high risk loans in a safe way. a lot of high risk loans end up originating loan sharks or similar lenders, which can be physically harmful to borrowers like Aretha. Aretha chose not to get a high risk loan this time. High Risk loans are generally given by lenders to terrible credit borrowers. Clients with credit scores as low as 568 can apply for a high risk loan and possibly can be approved.

Before applying for this unsecured loan, Aretha had an Experian score of 640, which is good, so Northeastern Bank probably cannot provide Aretha an unsecured loan

Experian Score: 640

Fast Loans for Aretha in Paterson, New Jersey to prevent bankruptcy or harm from debt collectors.

Fast loans in Paterson, New Jersey aren’t actually that difficult to obtain, especially if you have some finesse like Aretha. Aretha was able to find a fast loan for $105000 from Carteret Bank and Trust Company and Chemical Bank New Jersey, National Association, but turned down both offers in favor of their unsecured loan from Northeastern Bank. The improvement with a fast loan over a installment loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 5 weeks for personal loans. A big difference if a client is on the go.

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

Average debt consolidation loans range from $30,000.00 to $57,000.00. They are typically used to pay off existing high interest loans like credit cards. Aretha needed a debt consolidation loan to pay for their existing unsecured loan and their payday loan. Aretha was able to find a unsecured loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which converts your less desirable, high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates that are low, like 4.7%.

Previous requests on Aretha’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$47330.00 3 11.5% $1560.75 The State Bank of North Jersey October 11, 2011
$46780.00 5 6.2% $908.75 Carteret Bank and Trust Company January 23, 2012
$46890.00 6 7.2% $803.94 United Jersey Bank/Northwest July 29, 2012
$47190.00 3 8.4% $1487.49 People’s Trust Company October 9, 2013

Aretha was declined by United Trust Bank 4 times prior to being accepted by Northeastern Bank at 148 Market Street

On June 18, 2009, Aretha applied about borrowing $11,000 from United Trust Bank with Elwanda, their in law from just outside Paterson, and even with the co-signer, Aretha was rejected for this unsecured loan. With good credit, it can be very hard to procure financing, even with collateral and a co-signer.

Installment loan for Aretha, a graduate of Wake Technical Community College and a hardwood floor finisher working for over $76,000 per year

Aretha, an alumnus at Wake Technical Community College and a hardwood floor finisher in Paterson, New Jersey wants an unsecured loan to purchase a new cell phone. Aretha has instead decided to get an installment loan for $19,000 and is at present seeking lenders like United Jersey Bank to process their request.

Conclusion of Aretha’s unsecured loan

In the end, Aretha was able to find an unsecured loan for $105000 with an interest rate of 7.4% interest APR from Northeastern Bank in Paterson, New Jersey repayable over 21 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.