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Song Wanted A Personal Loan For $18000, Annapolis, Maryland

$18000 Personal Loan – Annapolis Maryland, Credit Score Of 482

  • Experian: 493 – They had a bad Experian rating
  • Transunion: 467 – Song had a bad credit rating with Transunion.
  • Equifax: Song’s Experian score was 482, which is a bad credit rating on the Experian scale.

Previous requests on Song’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$88140.00 10 11.4% $1234.17 American Security Bank, National Association September 3, 2010
$88140.00 5 11.4% $1934.01 The Forest Hill State Bank June 22, 2011
$88400.00 11 8.5% $1033.08 Boonsboro Bank of Boonsboro, Maryland April 10, 2013
$88330.00 11 7.2% $970.68 Farmers Bank September 4, 2013
$87780.00 3 10.4% $2848.93 St. Michaels Bank November 11, 2013

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

Song has always wanted to be an agricultural engineer, but would have to attend New River Community and Technical College again to achieve it. Song has other prospects as well, including parking enforcement officer, hardwood floor finisher, and airline flight attendant, which pay $58,000 through to $103,000 per year, on average. Because of this, we believe that Song can pay for this personal loan of $18000.

Installment loan for Song, a graduate of New River Community and Technical College and a medical records technician working for over $64,000 per year

Song, an alumnus at New River Community and Technical College and a medical records technician in Annapolis, Maryland needs a personal loan to purchase a house. Song has instead chosen to obtain an installment loan for $24,000 and is at present seeking lenders like The First National Bank of Barton to provide it.

Client Profile: Song Cotler of Annapolis, Maryland
  • Full name (Changed if requested): Song Cotler
  • Current Credit: loans.hit.utils.Fico@6f539caf
  • Current City: Annapolis
  • State: Maryland
  • Zip code: 21405
  • Yearly income: $36,000
  • Current Job: medical records technician
  • Current County: Anne Arundel
  • Goal Yearly Income: $145,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $5000

Before applying for this personal loan, Song had an Experian score of 493, which is bad, so First Federal Savings Bank of Annapolis most likely cannot provide Song a personal loan

Experian Score: 493

When Song was 18, they attempted to obtain a student loan from 7 alternate lenders, which harmed their credit score. Below is a list of Song’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $33,000.00 on August 4, 2009
  • Attempt 2) Loan for $30,000.00 on February 1, 2010
  • Attempt 3) Loan for $38,000.00 on March 26, 2013
  • Attempt 4) Loan for $39,000.00 on August 29, 2011
  • Attempt 5) Loan for $38,000.00 on May 12, 2009
  • Attempt 6) Loan for $20,000.00 on May 22, 2013
  • Attempt 7) Loan for $28,000.00 on April 14, 2010

6 Months in the Past, Song Tried to Find a High Risk Loan for $48,000.00, and it was Hard

There is an well known struggle for borrowers to find high risk loans in a non-harmful way. Many high risk loans end up originating loan sharks or similar lenders, which can be scary to borrowers like Song. Song chose not to get a high risk loan this time. High Risk loans are given to very low credit individuals. Clients with credit ratings as low as 340 can apply for a high risk loan and possibly can be accepted.

Contact Details for First Federal Savings Bank of Annapolis, the provider of this personal loan

  • First Federal Savings Bank of Annapolis
  • City: Annapolis
  • State: Maryland
  • Address: 2024 West Street
  • County: Anne Arundel
  • Zip code: 21401

Fast Loans for Song in Annapolis, Maryland to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Annapolis, Maryland aren’t actually that difficult to obtain, particularly if you have some finesse like Song. Song was able to find a fast loan for $18000 from Hagerstown Trust Company and The First National Bank of St. Mary’s at Leonardtown, but turned down both offers in favor of their personal loan from First Federal Savings Bank of Annapolis. The improvement with a fast loan over a debt consolidation loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 6 weeks for debt consolidation loans. An improvement if you are on the go.

Signature Loan found in Annapolis, Maryland for $18000 with bad credit by Song

A lot of borrowers struggle with obtaining signature loans in Annapolis, Maryland, and Song is no different. Song went to 5 lenders or more prior to settling on First Federal Savings Bank of Annapolis, who offered Song a signature loan for $18000. Most signature loans simply require a client, like Song’s signature to get them, up to $46,000 in some cases. Song was able to get $18000 as a personal loan, which is very high for a personal loan. Since signature loans do not require collateral, they tend to need better credit, as high as 784

Debt Consolidation Will Help Any Deeply Indebted Borrower to Escape Bad Debts like Credit Card Debt

Average debt consolidation loans vary from $22,000.00 to $50,000.00. They are normally used to pay off existing high interest loans like credit cards. Song needed a debt consolidation loan to pay for their existing personal loan and their payday loan. Song was able to find a personal loan in the end. Debt consolidation, or just consolidation, is a tactic in the strategic borrowing method which transfers your bad, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates as low as 2.0%.

Multiple previous requests for credit have been made by Song in the past, including one from Farmers Savings, A Federal Savings and Loan Association in Annapolis, Maryland before Song was approved for the $18000 by First Federal Savings Bank of Annapolis

Song made 9 previous tries to obtain a personal loan, 2 of which were with Farmers Savings, A Federal Savings and Loan Association, a lending institution in Annapolis, Maryland known to specialize in personal loans specifically. Prior to finding First Federal Savings Bank of Annapolis, Song was very concerned due to their inexperience and bad credit score.

Personal Loan for a medical records technician named Song in Annapolis, Maryland to Pay Off Colorado State University Credit Cards

Song had a lot of credit card debt on their BankFIRST Visa Business Travel Card and their DISTANCIA Visa, and they were starting to get in over their heads. Despite Song’s job as a medical records technician, they struggled to make payments on the $26,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Song was not approved by First National Bank of Harford County 5 times prior to being accepted by First Federal Savings Bank of Annapolis at 2024 West Street

On May 11, 2011, Song inquired about borrowing $32,000 from St. Michaels Bank with Onie, their in law from just outside Annapolis, and even with the co-signer, Song was rejected for this personal loan. With bad credit, it can be very hard to procure financing, even with collateral and a co-signer.

Song’s Transunion score was altered by the personal loan loan, changing to 467 from 482, which is typical in our experience.

Transunion Score: 467

Paraphrased and Standardized Quote from Song for this personal loan of $18000, provided by First Federal Savings Bank of Annapolis

Hi, I am Song and my hometown is Annapolis in Maryland. Anne Arundel, county is where I grew up, and now I need a personal loan in Maryland for $18000 to buy a big ticket item. It wasn’t easy, but First Federal Savings Bank of Annapolis really came through for me with this loan for 8.6% interest APR and a term of 1 years. I can probably repay the loan over the 1 year term, including interest. A big thanks to First Federal Savings Bank of Annapolis for giving me a chance and my bad credit. It look me 4 years to create my credit to 482, and I won’t harm it any more. I’m happy with Find Texas Loans for helping me this far.

Song’s Overall FICO score at the time of acceptance for a personal loan, taking into account their medical records technician job and their future career as an agricultural engineer

Fico Score: 482

Conclusion of Song’s personal loan

In the end, Song was able to find a personal loan for $18000 with an interest rate of 7.8% interest APR from First Federal Savings Bank of Annapolis in Annapolis, Maryland repayable over 1 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.