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No Collateral Loan With Very Low APR In Ouachita County, Louisiana

$100000 No Collateral Loan – Monroe Louisiana, Credit Score Of 428

  • Experian: 445 – The client had a bad Experian rating
  • Transunion: 411 – Song had a bad credit score with Transunion.
  • Equifax: Song’s Experian score was 428, which is a bad credit rating on the Experian scale.

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

Average debt consolidation loans range from $26,000.00 to $47,000.00. They are mainly used to pay off existing high interest loans like credit cards. Song required a debt consolidation loan to pay for their existing no collateral loan and their payday loan. Song was able to find a no collateral loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which changes your bad, catastrophically high interest loans to one lower interest loan. Debt consolidation loans generally have interest rates that are low, like 3.2%.

Installment loan for Song, a graduate of Mount Aloysius College and a casino manager working for over $77,000 per year

Song, an alumnus at Mount Aloysius College and a casino manager in Monroe, Louisiana wants a no collateral loan to purchase something frivolous. Song has instead decided to get an installment loan for $22,000 and is at present seeking lenders like Bank of Greensburg to process their request.

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
$149390.00 7 8.5% $2365.81 Bank of Zachary October 16, 2009
$149220.00 8 5.4% $1917.66 Landmark Bank March 26, 2010
$149130.00 10 10.3% $1995.62 Bank of Gonzales September 23, 2012
$149260.00 10 6.6% $1702.42 The Highlands Bank April 15, 2013
$149190.00 9 7.8% $1926.83 Bank of Grand Cane June 14, 2014
Client Profile: Song Latsko of Monroe, Louisiana
  • Full name (Changed if requested): Song Latsko
  • Current Credit: loans.hit.utils.Fico@5e265ba4
  • Current City: Monroe
  • State: Louisiana
  • Zip code: 71208
  • Yearly income: $60,000
  • Current Job: casino manager
  • Current County: Ouachita
  • Goal Yearly Income: $139,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $4000

Multiple other requests for credit have been made by Song in the past, including one from Charter Bank, S.B. in Monroe, Louisiana before Song was approved for the $100000 by Monroe Building and Loan Association

Song made 4 prior attempts to obtain a no collateral loan, 2 of which were with Charter Bank, S.B., a bank in Monroe, Louisiana known to specialize in no collateral loans specifically. Prior to finding Monroe Building and Loan Association, Song was desperate due to their inexperience and bad credit rating.

Before applying for this no collateral loan, Song had an Experian score of 445, which is bad, so Monroe Building and Loan Association likely cannot provide Song a no collateral loan

Experian Score: 445

Paraphrased and Standardized Quote from Song for this no collateral loan of $100000, provided by Monroe Building and Loan Association

Hi, I am Song and my hometown is Monroe in Louisiana. Ouachita, county is where I grew up, and now I need a no collateral loan in Louisiana for $100000 to avoid bankruptcy. It wasn’t easy, but Monroe Building and Loan Association really came through for me with this loan for 7.8% interest APR and a term of 15 years. I can probably repay the loan over the 15 year term, including interest. A big thanks to Monroe Building and Loan Association for giving me a chance and my bad credit. It look me 5 years to create my credit to 428, and I won’t harm it any more. I’m pleased with Find Texas Loans for assisting me this far.

When Song was 20, they attempted to obtain a student loan from 5 alternate lenders, which damaged their credit rating. Below is a chronology of Song’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $30,000.00 on June 18, 2013
  • Attempt 2) Loan for $20,000.00 on July 13, 2013
  • Attempt 3) Loan for $31,000.00 on May 19, 2013
  • Attempt 4) Loan for $36,000.00 on January 5, 2010
  • Attempt 5) Loan for $20,000.00 on April 25, 2012

Song has a disappointing current gross income, but has a large amount of prospects

Song has always wanted to be a medical secretary, but would have to attend Mount Aloysius College again to achieve it. Song has other possibilities as well, including aircraft assembler, power-line installer and mechanic, and cook, which pay $59,000 through to $102,000 per year, on average. For this reason, we believe that Song can afford this no collateral loan of $100000.

Song was rejected by The Bank of Commerce 6 times before being approved by Monroe Building and Loan Association at 1707 Hudson Lane

On October 31, 2008, Song applied about borrowing $31,000 from Alerion Bank with Pricilla, their friend from just outside Monroe, and even with the co-signer, Song was rejected for this no collateral loan. With bad credit, it can be difficult to procure financing, even with collateral and a co-signer.

Contact Details for Monroe Building and Loan Association, the provider of this no collateral loan

  • Monroe Building and Loan Association
  • City: Monroe
  • State: Louisiana
  • Address: 1707 Hudson Lane
  • County: Ouachita
  • Zip code: 71203

Fast Loans for Song in Monroe, Louisiana to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Monroe, Louisiana aren’t actually that difficult to obtain, especially if you have some gumption like Song. Song was able to find a fast loan for $100000 from First National Bank of Jefferson Parish and Bank of Zachary, but turned down both offers in favor of their no collateral loan from Monroe Building and Loan Association. The difference 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. A big difference in the case that you are on the go.

Signature Loan found in Monroe, Louisiana for $100000 with bad credit by Song

Most clients struggle with finding signature loans in Monroe, Louisiana, and Song is the same. Song went to 8 lending institutions or more before settling on Monroe Building and Loan Association, who offered Song a signature loan for $100000. Typical signature loans simply need a client, like Song’s signature to obtain them, up to $48,000 in some cases. Song was able to get $100000 as a no collateral loan, which is very high for a no collateral loan. Because signature loans don’t require collateral, these loans tend to need better credit, as high as 729

7 Months Ago, Song Tried Finding a High Risk Loan for $43,000.00, 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 the like, which can be physically harmful to borrowers like Song. Song decided not to get a high risk loan this time. High Risk loans are generally given by lenders to bad credit individuals. Borrowers with credit scores as low as 439 can apply for a high risk loan and may be be accepted.

Personal Loan for a casino manager named Song in Monroe, Louisiana to Pay Off AARP Rewards Visa Card

Song had a lot of credit card debt on their Farm Sanctuary MasterCard and their Amalgamated Bank MasterCard Standard Plus, and they were starting to get in over their heads. Despite Song’s job as a casino manager, they struggled to make payments on the $21,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Song’s Transunion score was altered by the no collateral loan loan, changing to 411 from 428, which is normal in our experience.

Transunion Score: 411

Song’s Overall FICO score at the time of acceptance for a no collateral loan, taking into account their casino manager job and their future job as a medical secretary

Fico Score: 428

Conclusion of Song’s no collateral loan

In the end, Song was able to find a no collateral loan for $100000 with an interest rate of 8.2% interest APR from Monroe Building and Loan Association in Monroe, Louisiana repayable over 15 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.