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9 Month, Fixed Interest High Risk Loan For Kirby In Tennessee

$48000 High Risk Loan – Pikeville Tennessee, Credit Score Of 583

  • Experian: 593 – The client had a fair Experian rating
  • Transunion: 568 – Kirby had a fair credit score with Transunion.
  • Equifax: Kirby’s Experian score was 583, which is a fair credit score using the Experian scale.

Paraphrased and Standardized Quote from Kirby for this high risk loan of $48000, provided by First Farmers & Commercial Bank

Hello, I am Kirby and I’m from Pikeville in Tennessee. Bledsoe, county is where I grew up, and now I need a high risk loan in Tennessee for $48000 to renovate my home. It wasn’t easy, but First Farmers & Commercial Bank really came through for me with this loan for 9.5% interest APR and a term of 9 years. I will repay the loan over the 9 year term, including interest. A big thanks to First Farmers & Commercial Bank for trusting me and my fair credit. It look me 5 years to create my credit to 583, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for helping me this far.

Many previous requests for credit have been made by Kirby in the past, including one from California City Bank, National Association in Pikeville, Tennessee before Kirby was approved for the $48000 by First Farmers & Commercial Bank

Kirby made 8 prior attempts to obtain a high risk loan, 2 of which were with California City Bank, National Association, a bank in Pikeville, Tennessee known to specialize in high risk loans specifically. Prior to finding First Farmers & Commercial Bank, Kirby was desperate due to their inexperience and fair credit score.

Previous requests on Kirby’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$105730.00 11 9.4% $1288.09 Citizens Bank January 8, 2012
$105520.00 3 6.1% $3214.91 SunTrust Bank, Chattanooga, National Association April 5, 2013
$106120.00 11 7.5% $1183.03 GreenBank January 5, 2014
$105690.00 11 5.1% $1047.82 CommunityFIRST Bank May 20, 2014

Kirby’s Transunion score was altered by the high risk loan loan, changing to 568 from 583, which is typical in our experience.

Transunion Score: 568

Kirby’s Overall FICO score at the time of acceptance for a high risk loan, taking into account their radio & tv station administrator job and their future job as a set designer

Fico Score: 583

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

Most debt consolidation loans range from $39,000.00 to $42,000.00. They are mainly used to pay off existing high interest loans like credit cards. Kirby needed a debt consolidation loan to pay for their existing high risk loan and their credit card. Kirby was able to find a high risk loan in the end. Debt consolidation, or simply consolidation, is a tactic in the debt snowball method which transfers your less desirable, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans generally have interest rates that are low, like 3.2%.

6 Months in the Past, Kirby Attempted to Find a High Risk Loan for $24,000.00, and it was Hard

It is an existing struggle for borrowers to find high risk loans in a non-harmful way. a lot of high risk loans end up originating loan sharks or similar lenders, which can be frightening to borrowers like Kirby. Kirby decided not to obtain a high risk loan this time. High Risk loans are generally given by lenders to bad credit borrowers. Borrowers with credit ratings as low as 368 can inquire for a high risk loan and possibly can be accepted.

Signature Loan easily acquired in Pikeville, Tennessee for $48000 with fair credit by Kirby

A lot of clients have difficulty with obtaining signature loans in Pikeville, Tennessee, and Kirby is not an exception. Kirby went to 4 lending institutions or more before settling on First Farmers & Commercial Bank, who offered Kirby a signature loan for $48000. Most signature loans simply require a client, like Kirby’s signature to obtain them, up to $45,000 in some cases. Kirby was able to get $48000 as a high risk loan, which is very high for a high risk loan. Because signature loans do not need collateral, they tend to require higher credit, as high as 777

Before applying for this high risk loan, Kirby had an Experian score of 593, which is fair, so First Farmers & Commercial Bank likely cannot provide Kirby a high risk loan

Experian Score: 593

Kirby was declined by Citizens Bank 6 times prior to being approved by First Farmers & Commercial Bank at 441 Spring Street

On February 27, 2010, Kirby inquired about borrowing $31,000 from Farmers Bank with Rubin, their in law from just outside Pikeville, and even with the co-signer, Kirby was rejected for this high risk loan. With fair credit, it can be challenging to procure funding, even with collateral and a co-signer.

When Kirby was 23, they attempted to obtain a student loan from 6 different banks, which harmed their credit score. Below is a chronology of Kirby’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $32,000.00 on April 16, 2012
  • Attempt 2) Loan for $34,000.00 on April 28, 2011
  • Attempt 3) Loan for $23,000.00 on February 7, 2010
  • Attempt 4) Loan for $34,000.00 on February 22, 2011
  • Attempt 5) Loan for $34,000.00 on December 20, 2011
  • Attempt 6) Loan for $24,000.00 on November 19, 2013
Client Profile: Kirby Vanabel of Pikeville, Tennessee
  • Full name (Changed if requested): Kirby Vanabel
  • Current Credit: loans.hit.utils.Fico@377dca04
  • Current City: Pikeville
  • State: Tennessee
  • Zip code: 37372
  • Yearly income: $63,000
  • Current Job: radio & tv station administrator
  • Current County: Bledsoe
  • Goal Yearly Income: $139,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000

Personal Loan for a radio & tv station administrator named Kirby in Pikeville, Tennessee to Pay Off Five Star Bank Visa Business Bonus Rewards Card

Kirby had a tonne of credit card debt on their AOPA Rewards American Express Card and their Chicago Cubs BankAmericard Cash Rewards MasterCard, and they were starting to get in over their heads. Despite Kirby’s job as a radio & tv station administrator, they struggled to make payments on the $29,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Fast Loans for Kirby in Pikeville, Tennessee to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Pikeville, Tennessee aren’t actually that difficult to obtain, particularly if you have some finesse like Kirby. Kirby was able to find a fast loan for $48000 from Bank of Belfast and Citizens Bank, but declined both offers in favor of their high risk loan from First Farmers & Commercial Bank. The improvement with a fast loan over a personal loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 7 weeks for debt consolidation loans. Much better in the case that a borrower is in a pinch.

Kirby has a low current yearly income, but has a high number of prospects

Kirby has always wanted to be a set designer, but would need attend Southern New Hampshire University again to become one. Kirby has other possibilities as well, including marine drafter, lathe operator, and pilot, which pay $57,000 through to $102,000 per year, at least. Because of this, we believe that Kirby can pay for this high risk loan of $48000.

Installment loan for Kirby, a graduate of Southern New Hampshire University and a radio & tv station administrator working for over $62,000 per year

Kirby, an alumnus at Southern New Hampshire University and a radio & tv station administrator in Pikeville, Tennessee needs a high risk loan to purchase a house. Kirby has instead decided to get an installment loan for $12,000 and is at present seeking lenders like SunTrust Bank, Chattanooga, National Association to process their request.

Contact Details for First Farmers & Commercial Bank, the provider of this high risk loan

  • First Farmers & Commercial Bank
  • City: Pikeville
  • State: Tennessee
  • Address: 441 Spring Street
  • County: Bledsoe
  • Zip code: 37367

Conclusion of Kirby’s high risk loan

In the end, Kirby was able to find a high risk loan for $48000 with an interest rate of 8.5% interest APR from First Farmers & Commercial Bank in Pikeville, Tennessee repayable over 9 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.