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6 Year, Fixed Interest Secured Loan For Matthew In California

$136000 Secured Loan – La Quinta California, Credit Rating Of 562

  • Experian: 572 – This individual had a fair Experian score
  • Transunion: 548 – Matthew had a fair credit rating with Transunion.
  • Equifax: Matthew’s Experian score was 562, which is a fair credit score using the Experian system.

Matthew was declined by U.S. Bank of California 7 times prior to being granted funding by Bank of the Desert, National Association at 51-290 Avenida Bermudas

On April 8, 2013, Matthew applied about borrowing $32,000 from Central Bank with Alysia, their friend from just outside La Quinta, and even with the co-signer, Matthew was rejected for this secured loan. With fair credit, it can be challenging to procure funding, even with collateral and a co-signer.

Paraphrased and Standardized Quote from Matthew for this secured loan of $136000, provided by Bank of the Desert, National Association

Hi, I am Matthew and I am from La Quinta in California. Riverside, county is where I grew up, and now I need a secured loan in California for $136000 to buy a car. It has been difficult, but Bank of the Desert, National Association really came through for me with this loan for 7.0% interest APR and a term of 6 years. I will repay the loan over the 6 year term, including interest. A big thanks to Bank of the Desert, National Association for giving me a chance and my fair credit. It look me 4 years to build my credit to 562, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for helping me this far.

Matthew has a very low current total income, but has several of prospects

Matthew has always wanted to be a mining machine operator, but would have to attend Chapman University again to become one. Matthew has other possibilities as well, including emergency medical technician, mine inspector, and interior designer, which pay $51,000 through to $107,000 per year, on average. Because of this, we believe that Matthew can afford this secured loan of $136000.

Several past requests for credit have been made by Matthew in the past, including one from FirstBank of Port Isabel, National Association in La Quinta, California before Matthew was approved for the $136000 by Bank of the Desert, National Association

Matthew made 6 previous tries to obtain a secured loan, 2 of which were with FirstBank of Port Isabel, National Association, a bank in La Quinta, California known to specialize in secured loans specifically. Prior to finding Bank of the Desert, National Association, Matthew was desperate due to their inexperience and fair credit rating.

Installment loan for Matthew, a graduate of Chapman University and a criminal investigator working for over $77,000 per year

Matthew, an alumnus at Chapman University and a criminal investigator in La Quinta, California needs a secured loan to purchase a new cell phone. Matthew has instead chosen to obtain an installment loan for $8,000 and is currently seeking lenders like The First National Bank of Orange County to provide it.

Fast Loans for Matthew in La Quinta, California to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in La Quinta, California aren’t actually that difficult to obtain, especially if you have some finesse like Matthew. Matthew was able to find a fast loan for $136000 from National Bank of Agriculture and Bank of Stockton, but turned down both offers in favor of their secured loan from Bank of the Desert, National Association. 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 installment loans. An improvement in the case that a borrower is in a time sensitive situation.

Signature Loan easily acquired in La Quinta, California for $136000 with fair credit by Matthew

A lot of borrowers have difficulty with obtaining signature loans in La Quinta, California, and Matthew is not an exception. Matthew went to 4 lending institutions or more prior to finding Bank of the Desert, National Association, who offered Matthew a signature loan for $136000. Most signature loans simply require a client, like Matthew’s signature to obtain them, up to $20,000 in some cases. Matthew was able to get $136000 as a secured loan, which is very high for a secured loan. Because signature loans do not require a cosigner, they tend to require improved credit, as high as 740

Matthew’s Overall FICO score at the time of acceptance for a secured loan, taking into account their criminal investigator job and their future job as a mining machine operator

Fico Score: 562

Client Profile: Matthew Garfinkle of La Quinta, California
  • Full name (Changed if requested): Matthew Garfinkle
  • Current Credit: loans.hit.utils.Fico@71bc1ae4
  • Current City: La Quinta
  • State: California
  • Zip code: 92255
  • Yearly income: $56,000
  • Current Job: criminal investigator
  • Current County: Riverside
  • Goal Yearly Income: $119,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $1000

7 Months in the Past, Matthew Tried to Find a High Risk Loan for $21,000.00, and it was Easy

There is an ongoing struggle for borrowers to find high risk loans in a non-harmful manner. a lot of high risk loans end up originating loan sharks or similar lenders, which can be frightening to borrowers like Matthew. Matthew decided not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to bad credit individuals. Borrowers with credit scores as low as 588 can inquire for a high risk loan and may be be accepted.

Personal Loan for a criminal investigator named Matthew in La Quinta, California to Pay Off Delaware National Bank Credit Cards

Matthew had a lot of credit card debt on their J. Jill Credit Card and their Slate with Blueprint, and they were starting to get in over their heads. Despite Matthew’s job as a criminal investigator, they struggled to make payments on the $22,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Matthew’s Transunion score was altered by the secured loan loan, changing to 548 from 562, which is typical in our experience.

Transunion Score: 548

Debt Consolidation Will Help Most Highly Indebted Borrower to Escape Bad Debts like Payday Loans

Average debt consolidation loans vary from $20,000.00 to $59,000.00. They are mainly used to pay off existing high interest loans like credit cards. Matthew required a debt consolidation loan to pay for their existing secured loan and their credit card. Matthew was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a tactic in the strategic borrowing method which changes your dirty, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 4.3%.

When Matthew was 18, they tried to obtain a student loan from 5 different banks, which damaged their credit score. Below is a list of Matthew’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $23,000.00 on May 4, 2009
  • Attempt 2) Loan for $25,000.00 on January 18, 2014
  • Attempt 3) Loan for $39,000.00 on December 30, 2008
  • Attempt 4) Loan for $32,000.00 on December 4, 2008
  • Attempt 5) Loan for $25,000.00 on December 5, 2009

Before applying for this secured loan, Matthew had an Experian score of 572, which is fair, so Bank of the Desert, National Association likely cannot provide Matthew a secured loan

Experian Score: 572

Previous requests on Matthew’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$124110.00 11 6.2% $1299.34 Santa Monica Bank March 27, 2009
$124190.00 7 5.6% $1790.52 Farmers and Merchants Bank of Long Beach September 26, 2009
$124420.00 11 10.3% $1578.92 First Interstate Bank of California October 20, 2012
$124210.00 4 5.1% $2866.1 Union Bank August 12, 2013

Contact Details for Bank of the Desert, National Association, the provider of this secured loan

  • Bank of the Desert, National Association
  • City: La Quinta
  • State: California
  • Address: 51-290 Avenida Bermudas
  • County: Riverside
  • Zip code: 92253

Conclusion of Matthew’s secured loan

In the end, Matthew was able to find a secured loan for $136000 with an interest rate of 5.1% interest APR from Bank of the Desert, National Association in La Quinta, California repayable over 6 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.