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17 Year, Variable Interest Direct Loan For Derick In Texas

$88000 Direct Loan – Houston Texas, Credit Score Of 399

  • Experian: 415 – The client had a terrible Experian score
  • Transunion: 383 – Derick had a terrible credit score with Transunion.
  • Equifax: Derick’s Experian score was 399, which is a terrible credit rating using the Experian rating scheme.

Derick’s Overall FICO score at the time of acceptance for a direct loan, taking into account their database administrator job and their future job as a controller

Fico Score: 399

Signature Loan acquired in Houston, Texas for $88000 with terrible credit by Derick

Many borrowers have difficulty with obtaining signature loans in Houston, Texas, and Derick is the same. Derick went to 5 lending institutions or more prior to finding First Texoma Bank, who offered Derick a signature loan for $88000. Typical signature loans simply need a client, like Derick’s signature to obtain them, up to $38,000 in some cases. Derick was able to get $88000 as a direct loan, which is very high for a direct loan. Since signature loans don’t require a cosigner, they tend to require higher credit, as high as 796

Installment loan for Derick, a graduate of Fortis Institute – Cookeville and a database administrator working for over $66,000 per year

Derick, an alumnus at Fortis Institute – Cookeville and a database administrator in Houston, Texas needs a direct loan to purchase a car. Derick has instead chosen to get an installment loan for $21,000 and is currently seeking lenders like First City Bank of Richardson to process their request.

Before applying for this direct loan, Derick had an Experian score of 415, which is terrible, so First Texoma Bank most likely cannot provide Derick a direct loan

Experian Score: 415

Fast Loans for Derick in Houston, Texas to prevent bankruptcy or harm from debt collectors.

Fast loans in Houston, Texas aren’t actually that difficult to obtain, especially if you have some gumption like Derick. Derick was able to find a fast loan for $88000 from Austin Bank, Rusk, Texas and First Community Bank San Antonio, National Association, but declined both offers in favor of their direct loan from First Texoma Bank. The difference with a fast loan over a personal loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 5 weeks for debt consolidation loans. Much better if a client is in a pinch.

Derick has a low current total income, but has several of prospects

Derick has always wanted to be a controller, but would have to attend Fortis Institute – Cookeville again to become one. Derick has other possibilities as well, including fish & game warden, quality control engineer, and hand sewer, which pay $56,000 through to $97,000 per year, on average. Because of this, we believe that Derick can afford this direct loan of $88000.

Personal Loan for a database administrator named Derick in Houston, Texas to Pay Off Amalgamated Bank MasterCard Union Card

Derick had a lot of credit card debt on their PNC Bank points Visa Business Credit Card and their Carnival FunPoints-The Carnival World MasterCard, and they were starting to get in over their heads. Despite Derick’s job as a database administrator, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Derick’s Transunion score was changed by the direct loan loan, changing to 383 from 399, which is typical in our experience.

Transunion Score: 383

Previous requests on Derick’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$57790.00 9 9.5% $798.04 Comerica Bank March 4, 2012
$57550.00 7 10.1% $958.37 First Star Bank, S.S.B. May 9, 2013
$57750.00 4 10.5% $1478.6 Brownfield State Bank & Trust Co. September 11, 2013
$57780.00 8 6.5% $773.46 First Bank & Trust, Bryan, Texas July 19, 2014
Client Profile: Derick Mcghan of Houston, Texas
  • Full name (Changed if requested): Derick Mcghan
  • Current Credit: loans.hit.utils.Fico@18ef96
  • Current City: Houston
  • State: Texas
  • Zip code: 77006
  • Yearly income: $43,000
  • Current Job: database administrator
  • Current County: Harris
  • Goal Yearly Income: $102,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $7000

Multiple other requests for credit have been made by Derick in the past, including one from Guardian Savings Bank, A Federal Savings Bank in Houston, Texas before Derick was approved for the $88000 by First Texoma Bank

Derick made 6 previous tries to obtain a direct loan, 2 of which were with Guardian Savings Bank, A Federal Savings Bank, a lending institution in Houston, Texas known to specialize in direct loans specifically. Before finding First Texoma Bank, Derick was concerned due to their inexperience and terrible credit score.

7 Months in the Past, Derick Attempted Finding a High Risk Loan for $23,000.00, but They Didn’t Find What They were Expecting

There is an existing struggle for borrowers to get high risk loans in a safe manner. Many high risk loans end up originating loan sharks or the like, which can be scary to borrowers like Derick. Derick decided not to get a high risk loan this time. High Risk loans are generally given by lenders to very low credit individuals. Individuals with credit ratings as low as 379 can apply for a high risk loan and may be be approved.

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

Most debt consolidation loans range from $33,000.00 to $49,000.00. They are typically used to pay off existing high interest loans like credit cards. Derick needed a debt consolidation loan to pay for their existing direct loan and their loan shark loan. Derick was able to find a direct loan in the end. Debt consolidation, or simply consolidation, is a tactic in the debt snowball method which transfers your dirty, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates as low as 2.7%.

Derick was declined by Comerica Bank 4 times before being approved by First Texoma Bank at 500 Dallas Street, Suite 2650

On May 17, 2011, Derick applied about borrowing $27,000 from Brownfield State Bank & Trust Co. with Zola, their in law from just outside Houston, and even with the co-signer, Derick was rejected for this direct loan. With terrible credit, it can be very hard to obtain funding, even with collateral and a co-signer.

Paraphrased and Standardized Quote from Derick for this direct loan of $88000, provided by First Texoma Bank

Hello, I am Derick and I am from Houston in Texas. Harris, county is where I grew up, and now I need a direct loan in Texas for $88000 to buy a big ticket item. It wasn’t easy, but First Texoma Bank really came through for me with this loan for 8.1% interest APR and a term of 17 years. I can repay the loan over the 17 year term, including interest. A big thanks to First Texoma Bank for giving me a chance and my terrible credit. It look me 5 years to create my credit to 399, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for helping me this far.

Contact Details for First Texoma Bank, the provider of this direct loan

  • First Texoma Bank
  • City: Houston
  • State: Texas
  • Address: 500 Dallas Street, Suite 2650
  • County: Harris
  • Zip code: 77002

When Derick was 18, they tried to obtain a student loan from 7 different banks, which damaged their credit score. Below is a chronology of Derick’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $37,000.00 on November 11, 2008
  • Attempt 2) Loan for $31,000.00 on January 3, 2009
  • Attempt 3) Loan for $30,000.00 on October 12, 2009
  • Attempt 4) Loan for $34,000.00 on April 27, 2012
  • Attempt 5) Loan for $23,000.00 on July 24, 2011
  • Attempt 6) Loan for $24,000.00 on October 24, 2011
  • Attempt 7) Loan for $20,000.00 on September 5, 2013

Conclusion of Derick’s direct loan

In the end, Derick was able to find a direct loan for $88000 with an interest rate of 11.7% interest APR from First Texoma Bank in Houston, Texas repayable over 17 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.