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17 Month, Variable Interest Secured Loan For Xochitl In North Carolina

$108000 Secured Loan – Rockingham North Carolina, Credit Score Of 575

  • Experian: 592 – This individual had a fair Experian rating
  • Transunion: 557 – Xochitl had a fair credit rating with Transunion.
  • Equifax: Xochitl’s Experian score was 575, which is a fair credit score on the Experian rating scheme.

Paraphrased and Standardized Quote from Xochitl for this secured loan of $108000, provided by Richmond County Bank

Hello, I am Xochitl and my hometown is Rockingham in North Carolina. Richmond, county is where I grew up, and now I need a secured loan in North Carolina for $108000 to buy a big ticket item. It has been difficult, but Richmond County Bank really came through for me with this loan for 9.3% interest APR and a term of 17 years. I can probably repay the loan over the 17 year term, including interest. A big thanks to Richmond County Bank for trusting me and my fair credit. It look me 6 years to build my credit to 575, and I won’t harm it any future. I’m pleased with Find Texas Loans for assisting me this far.

Xochitl’s Overall FICO score at the time of acceptance for a secured loan, taking into account their court reporter job and their future career as a history professor

Fico Score: 575

Personal Loan for a court reporter named Xochitl in Rockingham, North Carolina to Pay Off Key Bank College Rewards MasterCard

Xochitl had a lot of credit card debt on their AeroMexico Visa Secured Card and their Ohio Savings Bank Visa Signature Card with Maximum Rewards, and they were starting to get in over their heads. Despite Xochitl’s job as a court reporter, they struggled to make payments on the $25,000.00 credit card balance, badly needing assistance in the form of a personal loan.

9 Months Ago, Xochitl Attempted to Find a High Risk Loan for $31,000.00, and it was Easy

There is an existing struggle for borrowers to find high risk loans in a safe way. a lot of high risk loans end up originating loan sharks or the like, which can be physically harmful to borrowers like Xochitl. Xochitl chose not to obtain a high risk loan this time. High Risk loans are given to bad credit individuals. Borrowers with credit ratings as low as 344 can inquire for a high risk loan and possibly can be accepted.

Installment loan for Xochitl, a graduate of Marinello School of Beauty – Las Vegas and a court reporter working for over $66,000 per year

Xochitl, an alumnus at Marinello School of Beauty – Las Vegas and a court reporter in Rockingham, North Carolina wants a secured loan to purchase a new cell phone. Xochitl has instead chosen to obtain an installment loan for $7,000 and is currently seeking lenders like First State Bank to process their request.

Previous requests on Xochitl’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$136300.00 11 6.4% $1440.98 The Farmers Bank of Seaboard March 7, 2014
$136390.00 8 7.3% $1879.93 The Bank of Raeford April 3, 2015
$135680.00 6 5.4% $2210.38 The Bank of Coleridge August 24, 2015
$135820.00 4 6.2% $3202.21 Farmers Bank of Sunbury September 29, 2015

Contact Details for Richmond County Bank, the provider of this secured loan

  • Richmond County Bank
  • City: Rockingham
  • State: North Carolina
  • Address: 125 East Washington Street
  • County: Richmond
  • Zip code: 28379

Signature Loan found in Rockingham, North Carolina for $108000 with fair credit by Xochitl

Most borrowers struggle with obtaining signature loans in Rockingham, North Carolina, and Xochitl is no different. Xochitl went to 7 lenders or more before finding Richmond County Bank, who offered Xochitl a signature loan for $108000. Most signature loans simply require a client, like Xochitl’s signature to get them, up to $47,000 in some cases. Xochitl was able to get $108000 as a secured loan, which is very high for a secured loan. Because signature loans do not need collateral, these loans tend to require better credit, as high as 714

Many other requests for credit have been made by Xochitl in the past, including one from Morrilton Security Bank, National Association in Rockingham, North Carolina before Xochitl was approved for the $108000 by Richmond County Bank

Xochitl made 4 previous attempts to obtain a secured loan, 2 of which were with Morrilton Security Bank, National Association, a bank in Rockingham, North Carolina known to specialize in secured loans specifically. Before finding Richmond County Bank, Xochitl was very concerned due to their inexperience and fair credit rating.

Xochitl’s Transunion score was altered by the secured loan loan, changing to 557 from 575, which is typical in our experience.

Transunion Score: 557

Client Profile: Xochitl Pomerance of Rockingham, North Carolina
  • Full name (Changed if requested): Xochitl Pomerance
  • Current Credit: loans.hit.utils.Fico@4c3e4790
  • Current City: Rockingham
  • State: North Carolina
  • Zip code: 28382
  • Yearly income: $44,000
  • Current Job: court reporter
  • Current County: Richmond
  • Goal Yearly Income: $94,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $9000

Xochitl was declined by Communityone Bank, National Association 6 times prior to being granted funding by Richmond County Bank at 125 East Washington Street

On June 27, 2010, Xochitl inquired about borrowing $9,000 from Citizens State Bank with Babette, their in law from just outside Rockingham, and even with the co-signer, Xochitl was rejected for this secured loan. With fair credit, it can be challenging to obtain financing, even with collateral and a co-signer.

When Xochitl was 23, they tried to obtain a student loan from 6 different banks, which damaged their credit rating. Below is a chronology of Xochitl’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $35,000.00 on June 30, 2013
  • Attempt 2) Loan for $33,000.00 on June 5, 2009
  • Attempt 3) Loan for $32,000.00 on June 27, 2013
  • Attempt 4) Loan for $24,000.00 on May 8, 2009
  • Attempt 5) Loan for $21,000.00 on August 27, 2010
  • Attempt 6) Loan for $32,000.00 on November 21, 2012

Before applying for this secured loan, Xochitl had an Experian score of 592, which is fair, so Richmond County Bank probably cannot provide Xochitl a secured loan

Experian Score: 592

Xochitl has a sad current gross income, but has a high number of prospects

Xochitl has always wanted to be a history professor, but would have to attend Marinello School of Beauty – Las Vegas again to achieve it. Xochitl has other prospects as well, including aerospace engineering technician, computer security specialist, and court clerk, which pay $57,000 through to $103,000 per year, on average. Because of this, we believe that Xochitl can pay for this secured loan of $108000.

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

Normal debt consolidation loans vary from $31,000.00 to $46,000.00. They are mainly used to pay off existing high interest loans like credit cards. Xochitl needed a debt consolidation loan to pay for their existing secured loan and their payday loan. Xochitl was able to find a secured loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which converts your bad, catastrophically high interest loans to a single reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 3.2%.

Fast Loans for Xochitl in Rockingham, North Carolina to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Rockingham, North Carolina aren’t actually that difficult to obtain, particularly if you have some gumption like Xochitl. Xochitl was able to find a fast loan for $108000 from Independence National Bank and Citizens National Bank of Concord, but turned down both offers in favor of their secured loan from Richmond County Bank. 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 7 weeks for personal loans. A big improvement in the case that a borrower is in a pinch.

Conclusion of Xochitl’s secured loan

In the end, Xochitl was able to find a secured loan for $108000 with an interest rate of 10.5% interest APR from Richmond County Bank in Rockingham, North Carolina 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.