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High Risk Loan With Low APR In Albany County, New York

$96000 High Risk Loan – Albany New York, Credit Rating Of 747

  • Experian: 757 – This client had an excellent Experian rating
  • Transunion: 732 – Sheila had an excellent credit rating with Transunion.
  • Equifax: Sheila’s Experian score was 747, which is an excellent credit rating using the Experian rating scheme.

Contact Details for Evergreen Bank, the provider of this high risk loan

  • Evergreen Bank
  • City: Albany
  • State: New York
  • Address: 125 State Street
  • County: Albany
  • Zip code: 12207

Paraphrased and Standardized Quote from Sheila for this high risk loan of $96000, provided by Evergreen Bank

Hello, I am Sheila and I’m from Albany in New York. Albany, county is where I grew up, and now I need a high risk loan in New York for $96000 to renovate my home. It wasn’t easy, but Evergreen Bank really came through for me with this loan for 5.0% interest APR and a term of 4 years. I can probably repay the loan over the 4 year term, including interest. A big thanks to Evergreen Bank for giving me a chance and my excellent credit. It look me 9 years to build my credit to 747, and I won’t tarnish it any future. I am happy with Find Texas Loans for helping me this far.

When Sheila was 23, they attempted to obtain a student loan from 7 alternate lenders, which damaged their credit rating. Below is a chronology of Sheila’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $24,000.00 on April 11, 2009
  • Attempt 2) Loan for $37,000.00 on September 30, 2013
  • Attempt 3) Loan for $37,000.00 on November 15, 2009
  • Attempt 4) Loan for $22,000.00 on May 21, 2011
  • Attempt 5) Loan for $34,000.00 on March 16, 2011
  • Attempt 6) Loan for $20,000.00 on January 14, 2011
  • Attempt 7) Loan for $24,000.00 on June 29, 2012

8 Months in the Past, Sheila Attempted Finding a High Risk Loan for $28,000.00, and it was Easy

There is an well known struggle for clients to find high risk loans in a safe way. Many high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Sheila. Sheila decided not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit individuals. Individuals with credit scores as low as 382 can apply for a high risk loan and possibly can be accepted.

Previous requests on Sheila’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$47750.00 9 7.4% $606.89 Bankers Trust Company of Albany, National Association September 27, 2011
$47820.00 9 8.2% $627.52 Montgomery County Trust Company September 23, 2013
$47690.00 3 11.7% $1577.17 Bank of Avoca June 19, 2014
$47560.00 6 9.4% $866.77 The State Bank of Belmont October 16, 2014

Sheila was not approved by Bank of Avoca 4 times before being accepted by Evergreen Bank at 125 State Street

On March 14, 2009, Sheila inquired about borrowing $21,000 from Deutsche Bank Trust Company Americas with Derek, their friend from just outside Albany, and even with the co-signer, Sheila was rejected for this high risk loan. With excellent credit, it can be a challenge to obtain financing, even with collateral and a co-signer.

Sheila’s Overall FICO score at the time of acceptance for a high risk loan, taking into account their occupational therapy assistant job and their future job as a fire protection engineering technician

Fico Score: 747

Fast Loans for Sheila in Albany, New York to prevent bankruptcy or harm from debt collectors.

Fast loans in Albany, New York aren’t actually that difficult to obtain, particularly if you have some finesse like Sheila. Sheila was able to find a fast loan for $96000 from Kingston Trust Company and First State Bank, but turned down both offers in favor of their high risk loan from Evergreen Bank. 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. An improvement if a client is in a time sensitive situation.

Debt Consolidation Can Assist Any Highly Indebted Borrower to Escape Bad Debts like Loan Sharks

Average debt consolidation loans range from $24,000.00 to $46,000.00. They are typically used to pay off existing high interest loans like credit cards. Sheila required a debt consolidation loan to pay for their existing high risk loan and their payday loan. Sheila was able to find a high risk loan in the end. Debt consolidation, or just consolidation, is a technique in the strategic borrowing method which changes your bad, catastrophically high interest loans to one lower interest loan. Debt consolidation loans generally have interest rates as low as 3.4%.

Client Profile: Sheila Mckamie of Albany, New York
  • Full name (Changed if requested): Sheila Mckamie
  • Current Credit: loans.hit.utils.Fico@6433a2
  • Current City: Albany
  • State: New York
  • Zip code: 12209
  • Yearly income: $65,000
  • Current Job: occupational therapy assistant
  • Current County: Albany
  • Goal Yearly Income: $101,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $6000

Installment loan for Sheila, a graduate of National Louis University and an occupational therapy assistant working for over $78,000 per year

Sheila, an alumnus at National Louis University and an occupational therapy assistant in Albany, New York needs a high risk loan to purchase a house. Sheila has instead chosen to obtain an installment loan for $29,000 and is currently seeking lenders like Chemung Canal Trust Company to process their request.

Many previous requests for credit have been made by Sheila in the past, including one from Montgomery Federal Savings and Loan Association in Albany, New York before Sheila was accepted for the $96000 by Evergreen Bank

Sheila made 5 previous tries to obtain a high risk loan, 2 of which were with Montgomery Federal Savings and Loan Association, a lending institution in Albany, New York known to specialize in high risk loans specifically. Before finding Evergreen Bank, Sheila was concerned due to their inexperience and excellent credit rating.

Signature Loan easily acquired in Albany, New York for $96000 with excellent credit by Sheila

A lot of borrowers struggle with finding signature loans in Albany, New York, and Sheila is no exception. Sheila went to 5 lenders or more before finding Evergreen Bank, who offered Sheila a signature loan for $96000. Typical signature loans simply require a client, like Sheila’s signature to get them, up to $20,000 in some cases. Sheila was able to get $96000 as a high risk loan, which is very high for a high risk loan. Since signature loans do not require collateral, these loans generally require higher credit, as high as 753

Before applying for this high risk loan, Sheila had an Experian score of 757, which is excellent, so Evergreen Bank most likely cannot provide Sheila a high risk loan

Experian Score: 757

Sheila’s Transunion score was changed by the high risk loan loan, changing to 732 from 747, which is typical in our experience.

Transunion Score: 732

Personal Loan for an occupational therapy assistant named Sheila in Albany, New York to Pay Off Bassett Furniture Credit Cards

Sheila had a lot of credit card debt on their Jeff Bank Visa Signature Bonus Rewards PLUS Card and their Citizens Bank Cash Back Plus World MasterCard, and they were starting to get in over their heads. Despite Sheila’s job as an occupational therapy assistant, they struggled to make payments on the $26,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Sheila has a low current total income, but has a large amount of prospects

Sheila has always wanted to be a fire protection engineering technician, but would need attend National Louis University again to achieve it. Sheila has other prospects as well, including motion picture director, police artist, and public transportation inspector, which pay $53,000 through to $101,000 per year, at least. Because of this, we believe that Sheila can afford this high risk loan of $96000.

Conclusion of Sheila’s high risk loan

In the end, Sheila was able to find a high risk loan for $96000 with an interest rate of 8.2% interest APR from Evergreen Bank in Albany, New York repayable over 4 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.