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17 Year, Fixed Interest Debt Consolidation Loan For Jonathon In North Carolina

$117000 Debt Consolidation Loan – Morganton North Carolina, Credit Rating Of 327

  • Experian: 343 – The client had a terrible Experian rating
  • Transunion: 310 – Jonathon had a terrible credit rating with Transunion.
  • Equifax: Jonathon’s Experian score was 327, which is a terrible credit score with the Experian rating scheme.

Jonathon was rejected by Bank of Pittsboro 6 times prior to being granted funding by Morganton Savings Bank, S.S.B. at 100 South King Street

On July 21, 2013, Jonathon applied about borrowing $41,000 from The Farmers Bank of Seaboard with Roxann, their in law from just outside Morganton, and even with the co-signer, Jonathon was rejected for this debt consolidation loan. With terrible credit, it can be difficult to procure financing, even with collateral and a co-signer.

Contact Details for Morganton Savings Bank, S.S.B., the provider of this debt consolidation loan

  • Morganton Savings Bank, S.S.B.
  • City: Morganton
  • State: North Carolina
  • Address: 100 South King Street
  • County: Burke
  • Zip code: 28655

Jonathon’s Transunion score was changed by the debt consolidation loan loan, changing to 310 from 327, which is normal in our experience.

Transunion Score: 310

7 Months in the Past, Jonathon Tried to Find a High Risk Loan for $26,000.00, and it was Hard

It is an ongoing struggle for borrowers to find high risk loans in a non-harmful way. Many high risk loans end up coming from loan sharks or the like, which can be scary to borrowers like Jonathon. Jonathon decided not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit applicants. Borrowers with credit scores as low as 535 can apply for a high risk loan and may be be accepted.

Personal Loan for a product safety engineer named Jonathon in Morganton, North Carolina to Pay Off Fifth Third Bank Responsible MasterCard

Jonathon had a lot of credit card debt on their Tioga State Bank Visa Signature Bonus Rewards Card and their Value City Furniture Credit Card, and they were starting to get in over their heads. Despite Jonathon’s job as a product safety engineer, they struggled to make payments on the $26,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

When Jonathon was 24, they attempted to obtain a student loan from 5 different banks, which harmed their credit rating. Below is a chronology of Jonathon’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $31,000.00 on March 2, 2009
  • Attempt 2) Loan for $32,000.00 on March 26, 2011
  • Attempt 3) Loan for $20,000.00 on March 12, 2011
  • Attempt 4) Loan for $20,000.00 on January 2, 2011
  • Attempt 5) Loan for $21,000.00 on May 16, 2013

Jonathon’s Overall FICO score at the time of acceptance for a debt consolidation loan, taking into account their product safety engineer job and their future job as a sales floor stock clerk

Fico Score: 327

Installment loan for Jonathon, a graduate of University of Wyoming and a product safety engineer working for over $64,000 per year

Jonathon, an alumnus at University of Wyoming and a product safety engineer in Morganton, North Carolina needs a debt consolidation loan to purchase a car. Jonathon has instead chosen to get an installment loan for $10,000 and is at present seeking lenders like First Charter Bank to process their request.

Before applying for this debt consolidation loan, Jonathon had an Experian score of 343, which is terrible, so Morganton Savings Bank, S.S.B. probably cannot provide Jonathon a debt consolidation loan

Experian Score: 343

Previous requests on Jonathon’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$129360.00 10 9.6% $1680.98 The Farmers Bank of Seaboard February 16, 2009
$129130.00 8 7.1% $1766.95 The Bank of Raeford November 27, 2010
$129220.00 9 9.8% $1805.28 The Bank of Coleridge April 7, 2013
$129210.00 3 9.4% $4132.94 Farmers Bank of Sunbury February 12, 2014

Several other requests for credit have been made by Jonathon in the past, including one from Michigan National Bank – Midland in Morganton, North Carolina before Jonathon was accepted for the $117000 by Morganton Savings Bank, S.S.B.

Jonathon made 8 previous tries to obtain a debt consolidation loan, 2 of which were with Michigan National Bank – Midland, a lending institution in Morganton, North Carolina known to specialize in debt consolidation loans specifically. Before finding Morganton Savings Bank, S.S.B., Jonathon was desperate due to their inexperience and terrible credit rating.

Client Profile: Jonathon Fleck of Morganton, North Carolina
  • Full name (Changed if requested): Jonathon Fleck
  • Current Credit: loans.hit.utils.Fico@b065c63
  • Current City: Morganton
  • State: North Carolina
  • Zip code: 28660
  • Yearly income: $69,000
  • Current Job: product safety engineer
  • Current County: Burke
  • Goal Yearly Income: $87,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $9000

Fast Loans for Jonathon in Morganton, North Carolina to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Morganton, North Carolina aren’t actually that difficult to obtain, particularly if you have some finesse like Jonathon. Jonathon was able to find a fast loan for $117000 from Farmers Bank of Sunbury and The Bank of Raeford, but turned down both offers in favor of their debt consolidation loan from Morganton Savings Bank, S.S.B.. The difference with a fast loan over a installment loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 5 weeks for installment loans. A big difference in the case that a client is on the go.

Signature Loan acquired in Morganton, North Carolina for $117000 with terrible credit by Jonathon

Most clients have difficulty with obtaining signature loans in Morganton, North Carolina, and Jonathon is no different. Jonathon went to 7 lending institutions or more before settling on Morganton Savings Bank, S.S.B., who offered Jonathon a signature loan for $117000. Typical signature loans simply require a client, like Jonathon’s signature to obtain them, up to $44,000 in some cases. Jonathon was able to get $117000 as a debt consolidation loan, which is very high for a debt consolidation loan. Because signature loans don’t require collateral, these loans tend to need higher credit, as high as 792

Jonathon has a low current total income, but has a high number of prospects

Jonathon has always wanted to be a sales floor stock clerk, but would need attend University of Wyoming again to become one. Jonathon has other possibilities as well, including fashion artist, title examiner, and structural engineer, which pay $50,000 through to $107,000 per year, at least. For this reason, we believe that Jonathon can pay for this debt consolidation loan of $117000.

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

Most debt consolidation loans range from $34,000.00 to $41,000.00. They are normally used to pay off existing high interest loans like credit cards. Jonathon needed a debt consolidation loan to pay for their existing debt consolidation loan and their loan shark loan. Jonathon was able to find a debt consolidation loan in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which transfers your bad, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates that are low, like 2.8%.

Paraphrased and Standardized Quote from Jonathon for this debt consolidation loan of $117000, provided by Morganton Savings Bank, S.S.B.

Hello, I am Jonathon and I am from Morganton in North Carolina. Burke, county is where I grew up, and now I need a debt consolidation loan in North Carolina for $117000 to buy a big ticket item. It has been difficult, but Morganton Savings Bank, S.S.B. really came through for me with this loan for 6.3% interest APR and a term of 17 years. I will repay the loan over the 17 year term, including interest. A big thanks to Morganton Savings Bank, S.S.B. for giving me a chance and my terrible credit. It look me 4 years to build my credit to 327, and I won’t tarnish it any future. I’m happy with Find Texas Loans for helping me this far.

Conclusion of Jonathon’s debt consolidation loan

In the end, Jonathon was able to find a debt consolidation loan for $117000 with an interest rate of 10.3% interest APR from Morganton Savings Bank, S.S.B. in Morganton, 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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