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Secured Loan With Reasonable APR In Cook County, Illinois

$50000 Secured Loan – Matteson Illinois, Credit Score Of 308

  • Experian: 326 – This client had a terrible Experian rating
  • Transunion: 292 – Kacy had a terrible credit score with Transunion.
  • Equifax: Kacy’s Experian score was 308, which is a terrible credit score using the Experian system.

Paraphrased and Standardized Quote from Kacy for this secured loan of $50000, provided by Prairie Federal Savings and Loan Association Chicago Heights

Hi, I am Kacy and I am from Matteson in Illinois. Cook, county is where I grew up, and now I need a secured loan in Illinois for $50000 to renovate my home. It wasn’t easy, but Prairie Federal Savings and Loan Association Chicago Heights really came through for me with this loan for 8.6% interest APR and a term of 2 years. I can repay the loan over the 2 year term, including interest. A big thanks to Prairie Federal Savings and Loan Association Chicago Heights for giving me a chance and my terrible credit. It look me 8 years to create my credit to 308, and I won’t harm it any more. I am pleased with Find Texas Loans for assisting me this far.

Client Profile: Kacy Felde of Matteson, Illinois
  • Full name (Changed if requested): Kacy Felde
  • Current Credit: loans.hit.utils.Fico@6996db8
  • Current City: Matteson
  • State: Illinois
  • Zip code: 60446
  • Yearly income: $63,000
  • Current Job: community organization worker
  • Current County: Cook
  • Goal Yearly Income: $146,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $6000

Several other requests for credit have been made by Kacy in the past, including one from The First National Bank of Barnesville in Matteson, Illinois before Kacy was accepted for the $50000 by Prairie Federal Savings and Loan Association Chicago Heights

Kacy made 4 previous attempts to obtain a secured loan, 2 of which were with The First National Bank of Barnesville, a lender in Matteson, Illinois known to specialize in secured loans specifically. Before finding Prairie Federal Savings and Loan Association Chicago Heights, Kacy was desperate due to their inexperience and terrible credit rating.

Fast Loans for Kacy in Matteson, Illinois to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Matteson, Illinois aren’t actually that difficult to obtain, especially if you have some finesse like Kacy. Kacy was able to find a fast loan for $50000 from LaSalle Bank NI and Lake Shore National Bank, but turned down both offers in favor of their secured loan from Prairie Federal Savings and Loan Association Chicago Heights. The improvement with a fast loan over a personal loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 5 weeks for personal loans. A big improvement if you are on the go.

7 Months Ago, Kacy Tried Finding a High Risk Loan for $40,000.00, and it was Easy

It is an well known struggle for borrowers to get high risk loans in a non-harmful way. Many high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Kacy. Kacy chose not to obtain a high risk loan this time. High Risk loans are given to bad credit applicants. Clients with credit scores as low as 300 can apply for a high risk loan and possibly can be accepted.

Kacy has a disappointing current total income, but has a high number of prospects

Kacy has always wanted to be a sports agent, but would need attend University of Minnesota – Twin Cities again to achieve it. Kacy has other prospects as well, including unemployment inspector, student financial aid administrator, and home economist, which pay $59,000 through to $105,000 per year, on average. Because of this, we believe that Kacy can pay for this secured loan of $50000.

Kacy was rejected by The Gerber State Bank 6 times before being approved by Prairie Federal Savings and Loan Association Chicago Heights at One Prairie Center

On May 14, 2011, Kacy applied about borrowing $22,000 from The Northern Trust Company with Carletta, their in law from just outside Matteson, and even with the co-signer, Kacy was rejected for this secured loan. With terrible credit, it can be challenging to obtain funding, even with collateral and a co-signer.

Installment loan for Kacy, a graduate of University of Minnesota – Twin Cities and a community organization worker working for over $77,000 per year

Kacy, an alumnus at University of Minnesota – Twin Cities and a community organization worker in Matteson, Illinois wants a secured loan to purchase a new cell phone. Kacy has instead chosen to obtain an installment loan for $23,000 and is at present seeking lenders like Commerce Bank to process their request.

Signature Loan found in Matteson, Illinois for $50000 with terrible credit by Kacy

Most prospective borrowers have difficulty with finding signature loans in Matteson, Illinois, and Kacy is no exception. Kacy went to 6 lenders or more prior to settling on Prairie Federal Savings and Loan Association Chicago Heights, who offered Kacy a signature loan for $50000. Typical signature loans simply need a client, like Kacy’s signature to get them, up to $20,000 in some cases. Kacy was able to get $50000 as a secured loan, which is very high for a secured loan. Because signature loans don’t require a cosigner, they generally need better credit, as high as 734

Kacy’s Transunion score was altered by the secured loan loan, changing to 292 from 308, which is typical in our experience.

Transunion Score: 292

Personal Loan for a community organization worker named Kacy in Matteson, Illinois to Pay Off Valero Consumer Credit Card

Kacy had a lot of credit card debt on their Arizona Diamondbacks BankAmericard Cash Rewards MasterCard and their American Eagle Outfitters Inc. Credit Card, and they were starting to get in over their heads. Despite Kacy’s job as a community organization worker, they struggled to make payments on the $22,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Before applying for this secured loan, Kacy had an Experian score of 326, which is terrible, so Prairie Federal Savings and Loan Association Chicago Heights probably cannot provide Kacy a secured loan

Experian Score: 326

Debt Consolidation Can Help Any Deeply Indebted Borrower to Escape Bad Debts like Loan Sharks

Average debt consolidation loans vary from $22,000.00 to $51,000.00. They are mainly used to pay off existing high interest loans like credit cards. Kacy needed a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Kacy was able to find a secured 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 4.2%.

Previous requests on Kacy’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$56640.00 9 6.5% $694.1 The Gerber State Bank October 14, 2008
$57430.00 8 9.1% $844.34 The Belvidere National Bank and Trust Company January 7, 2009
$56580.00 3 11.3% $1860.41 Commerce Bank October 31, 2010
$56630.00 9 10.1% $800.35 Byron Bank October 8, 2011

When Kacy was 19, they attempted to obtain a student loan from 6 different lenders, which harmed their credit score. Below is a list of Kacy’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $36,000.00 on December 4, 2010
  • Attempt 2) Loan for $30,000.00 on December 1, 2013
  • Attempt 3) Loan for $33,000.00 on February 5, 2009
  • Attempt 4) Loan for $26,000.00 on August 28, 2010
  • Attempt 5) Loan for $36,000.00 on February 6, 2013
  • Attempt 6) Loan for $22,000.00 on January 20, 2009

Kacy’s Overall FICO score at the time of acceptance for a secured loan, taking into account their community organization worker job and their future career as a sports agent

Fico Score: 308

Contact Details for Prairie Federal Savings and Loan Association Chicago Heights, the provider of this secured loan

  • Prairie Federal Savings and Loan Association Chicago Heights
  • City: Matteson
  • State: Illinois
  • Address: One Prairie Center
  • County: Cook
  • Zip code: 60443

Conclusion of Kacy’s secured loan

In the end, Kacy was able to find a secured loan for $50000 with an interest rate of 7.2% interest APR from Prairie Federal Savings and Loan Association Chicago Heights in Matteson, Illinois repayable over 2 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.