$54000 Unsecured Loan – Houston Mississippi, Credit Score Of 379
- Experian: 395 – This client had a terrible Experian rating
- Transunion: 362 – Francis had a terrible credit score with Transunion.
- Equifax: Francis’s Experian score was 379, which is a terrible credit rating using the Experian scale.
When Francis was 19, they tried to obtain a student loan from 7 different banks, which harmed their credit rating. Below is a list of Francis’s previous attempts at finding a student loan:
- Attempt 1) Loan for $20,000.00 on June 18, 2009
- Attempt 2) Loan for $25,000.00 on June 18, 2012
- Attempt 3) Loan for $33,000.00 on February 11, 2011
- Attempt 4) Loan for $24,000.00 on June 14, 2009
- Attempt 5) Loan for $38,000.00 on October 11, 2010
- Attempt 6) Loan for $34,000.00 on August 11, 2010
- Attempt 7) Loan for $21,000.00 on March 20, 2009
7 Months Ago, Francis Tried to Find a High Risk Loan for $37,000.00, and it was Hard
There is an ongoing struggle for borrowers to find high risk loans in a safe manner. a lot of high risk loans end up originating loan sharks or the like, which can be scary to borrowers like Francis. Francis chose not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to very low credit individuals. Individuals with credit ratings as low as 596 can inquire for a high risk loan and have a chance to be approved.
Debt Consolidation Can Help Any Highly Indebted Borrower to Escape Bad Debts like Payday Loans
Most debt consolidation loans range from $37,000.00 to $43,000.00. They are typically used to pay off existing high interest loans like credit cards. Francis needed a debt consolidation loan to pay for their existing unsecured loan and their credit card. Francis was able to find a unsecured loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which converts your bad, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans usually have interest rates as low as 2.3%.
Many previous requests for credit have been made by Francis in the past, including one from Consumer National Bank in Houston, Mississippi before Francis was accepted for the $54000 by The Bank of Houston
Francis made 9 previous attempts to obtain an unsecured loan, 2 of which were with Consumer National Bank, a lender in Houston, Mississippi known to specialize in unsecured loans specifically. Before finding The Bank of Houston, Francis was very concerned due to their inexperience and terrible credit rating.
Installment loan for Francis, a graduate of New York College of Health Professions and a systems analyst working for over $73,000 per year
Francis, an alumnus at New York College of Health Professions and a systems analyst in Houston, Mississippi wants an unsecured loan to purchase something frivolous. Francis has instead decided to get an installment loan for $24,000 and is currently seeking lenders like Merchants & Farmers Bank to provide it.
Personal Loan for a systems analyst named Francis in Houston, Mississippi to Pay Off Orbitz Visa Platinum Credit Card
Francis had a lot of credit card debt on their Merrick Bank Secured Visa Card and their Plains Commerce Bank Visa Gold Card, and they were starting to get in over their heads. Despite Francis’s job as a systems analyst, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.
Before applying for this unsecured loan, Francis had an Experian score of 395, which is terrible, so The Bank of Houston likely cannot provide Francis an unsecured loan
Francis’s Transunion score was altered by the unsecured loan loan, changing to 362 from 379, which is normal in our experience.
- Full name (Changed if requested): Francis Maes
- Current Credit: loans.hit.utils.Fico@1e80bfe8
- Current City: Houston
- State: Mississippi
- Zip code: 38858
- Yearly income: $33,000
- Current Job: systems analyst
- Current County: Chickasaw
- Goal Yearly Income: $116,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $2000
Fast Loans for Francis in Houston, Mississippi to prevent bankruptcy or bodily harm from debt collectors.
Fast loans in Houston, Mississippi aren’t actually that difficult to obtain, especially if you have some gumption like Francis. Francis was able to find a fast loan for $54000 from Southern Bancorp Bank and Holmes County Bank & Trust Company, but turned down both offers in favor of their unsecured loan from The Bank of Houston. 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 7 weeks for debt consolidation loans. A big improvement in the case that a borrower is in a time sensitive situation.
Paraphrased and Standardized Quote from Francis for this unsecured loan of $54000, provided by The Bank of Houston
Hi, I am Francis and my hometown is Houston in Mississippi. Chickasaw, county is where I grew up, and now I need a unsecured loan in Mississippi for $54000 to pay bills. It has been difficult, but The Bank of Houston really came through for me with this loan for 9.8% interest APR and a term of 18 years. I can probably repay the loan over the 18 year term, including interest. A big thanks to The Bank of Houston for trusting me and my terrible credit. It look me 4 years to create my credit to 379, and I won’t tarnish it any future. I’m pleased with Find Texas Loans for assisting me this far.
Francis has a disappointing current gross income, but has a large amount of prospects
Francis has always wanted to be an aerospace engineering technician, but would need attend New York College of Health Professions again to achieve it. Francis has other possibilities as well, including foreign service officer, nuclear equipment operation technician, and computer hardware technician, which pay $57,000 through to $106,000 per year, at least. For this reason, we believe that Francis can afford this unsecured loan of $54000.
Previous requests on Francis’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$11770.00||6||11.1%||$224.63||Peoples Bank of Durant||September 12, 2009|
|$12430.00||3||11.8%||$411.67||Holmes County Bank & Trust Company||November 13, 2012|
|$11540.00||6||6.7%||$195.09||The Bank of Sebastopol||August 26, 2014|
|$12180.00||9||11.4%||$180.85||Merchants & Planters Bank||May 18, 2015|
Contact Details for The Bank of Houston, the provider of this unsecured loan
- The Bank of Houston
- City: Houston
- State: Mississippi
- Address: Main Street
- County: Chickasaw
- Zip code: 38851
Francis was rejected by Merchants & Planters Bank 4 times prior to being approved by The Bank of Houston at Main Street
On April 25, 2009, Francis applied about borrowing $30,000 from The Peoples Bank, Biloxi, Mississippi with Emmitt, their friend from just outside Houston, and even with the co-signer, Francis was rejected for this unsecured loan. With terrible credit, it can be challenging to obtain financing, even with collateral and a co-signer.
Signature Loan easily acquired in Houston, Mississippi for $54000 with terrible credit by Francis
Many borrowers struggle with obtaining signature loans in Houston, Mississippi, and Francis is not an exception. Francis went to 6 lenders or more prior to finding The Bank of Houston, who offered Francis a signature loan for $54000. Typical signature loans simply need a client, like Francis’s signature to obtain them, up to $44,000 in some cases. Francis was able to get $54000 as a unsecured loan, which is very high for an unsecured loan. Since signature loans do not require collateral, these loans generally need better credit, as high as 759
Francis’s Overall FICO score at the time of acceptance for an unsecured loan, taking into account their systems analyst job and their future career as an aerospace engineering technician
Conclusion of Francis’s unsecured loan
In the end, Francis was able to find an unsecured loan for $54000 with an interest rate of 10.3% interest APR from The Bank of Houston in Houston, Mississippi repayable over 18 years from now.