$124000 Emergency Loan – Memphis Tennessee, Credit Score Of 477
- Experian: 487 – They had a bad Experian score
- Transunion: 462 – Thurman had a bad credit rating with Transunion.
- Equifax: Thurman’s Experian score was 477, which is a bad credit score using the Experian scale.
Thurman has a very low current gross income, but has a high number of prospects
Thurman has always wanted to be a cement mason, but would have to attend Toni & Guy Hairdressing Academy – Seattle again to achieve it. Thurman has other possibilities as well, including counseling psychologist, farm labor contractor, and physics professor, which pay $53,000 through to $104,000 per year, on average. For this reason, we believe that Thurman can pay for this emergency loan of $124000.
Before applying for this emergency loan, Thurman had an Experian score of 487, which is bad, so Magna Bank probably cannot provide Thurman an emergency loan
Contact Details for Magna Bank, the provider of this emergency loan
- Magna Bank
- City: Memphis
- State: Tennessee
- Address: 6525 Quail Hollow Road
- County: Shelby
- Zip code: 38120
When Thurman was 18, they tried to obtain a student loan from 4 alternate lenders, which harmed their credit rating. Below is a list of Thurman’s previous attempts at finding a student loan:
- Attempt 1) Loan for $28,000.00 on January 6, 2012
- Attempt 2) Loan for $38,000.00 on May 3, 2010
- Attempt 3) Loan for $22,000.00 on February 23, 2013
- Attempt 4) Loan for $25,000.00 on March 15, 2010
Personal Loan for an industrial-organizational psychologist named Thurman in Memphis, Tennessee to Pay Off American Legion Platinum Edition Visa
Thurman had a lot of credit card debt on their Conestoga Bank Visa Business Card and their Dress Barn Credit Card, and they were starting to get in over their heads. Despite Thurman’s job as an industrial-organizational psychologist, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.
Thurman was not approved by Bank of Trenton and Trust Company 7 times before being accepted by Magna Bank at 6525 Quail Hollow Road
On December 27, 2008, Thurman applied about borrowing $30,000 from Citizens Bank with Prince, their in law from just outside Memphis, and even with the co-signer, Thurman was rejected for this emergency loan. With bad credit, it can be challenging to procure financing, even with collateral and a co-signer.
Previous requests on Thurman’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$16410.00||11||10.6%||$211.06||Citizens Bank||July 17, 2011|
|$16280.00||11||7.3%||$179.76||SunTrust Bank, Chattanooga, National Association||June 7, 2012|
|$16100.00||10||8.7%||$201.34||GreenBank||August 12, 2012|
|$16260.00||11||8.7%||$191.8||CommunityFIRST Bank||May 26, 2013|
8 Months Ago, Thurman Tried to Find a High Risk Loan for $43,000.00, and it was Easy
It is an ongoing struggle for clients to get high risk loans in a non-harmful manner. Many high risk loans end up coming from loan sharks or similar lenders, which can be scary to borrowers like Thurman. Thurman decided not to obtain a high risk loan this time. High Risk loans are generally given by lenders to very low credit borrowers. Borrowers with credit ratings as low as 470 can inquire for a high risk loan and may be be accepted.
Fast Loans for Thurman in Memphis, Tennessee to prevent bankruptcy or harm from debt collectors.
Fast loans in Memphis, Tennessee aren’t actually that difficult to obtain, particularly if you have some gumption like Thurman. Thurman was able to find a fast loan for $124000 from City and County Bank of Roane County and The Farmers Bank of Lynchburg, but declined both offers in favor of their emergency loan from Magna Bank. The improvement with a fast loan over a debt consolidation loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 5 weeks for personal loans. An improvement if a client is in a pinch.
Debt Consolidation Will Help Any Highly Indebted Borrower to Escape Bad Debts like Loan Sharks
Most debt consolidation loans vary from $21,000.00 to $53,000.00. They are mainly used to pay off existing high interest loans like credit cards. Thurman needed a debt consolidation loan to pay for their existing emergency loan and their payday loan. Thurman was able to find a emergency loan in the end. Debt consolidation, or just consolidation, is a tactic in the strategic borrowing method which transfers your bad, high interest loans to a single reduced interest loan. Debt consolidation loans generally have interest rates as low as 4.0%.
Thurman’s Overall FICO score at the time of acceptance for an emergency loan, taking into account their industrial-organizational psychologist job and their future career as a cement mason
Signature Loan easily acquired in Memphis, Tennessee for $124000 with bad credit by Thurman
Many clients struggle with obtaining signature loans in Memphis, Tennessee, and Thurman is not an exception. Thurman went to 4 lending institutions or more before settling on Magna Bank, who offered Thurman a signature loan for $124000. Most signature loans simply require a client, like Thurman’s signature to get them, up to $37,000 in some cases. Thurman was able to get $124000 as a emergency loan, which is very high for an emergency loan. Because signature loans do not need collateral, they tend to require higher credit, as high as 782
Multiple previous requests for credit have been made by Thurman in the past, including one from Heritage Bank in Memphis, Tennessee before Thurman was approved for the $124000 by Magna Bank
Thurman made 4 previous attempts to obtain an emergency loan, 2 of which were with Heritage Bank, a lending institution in Memphis, Tennessee known to specialize in emergency loans specifically. Before finding Magna Bank, Thurman was concerned due to their inexperience and bad credit rating.
- Full name (Changed if requested): Thurman Roux
- Current Credit: loans.hit.utils.Fico@17d10166
- Current City: Memphis
- State: Tennessee
- Zip code: 38126
- Yearly income: $58,000
- Current Job: industrial-organizational psychologist
- Current County: Shelby
- Goal Yearly Income: $128,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $7000
Paraphrased and Standardized Quote from Thurman for this emergency loan of $124000, provided by Magna Bank
Hello, I am Thurman and I am from Memphis in Tennessee. Shelby, county is where I grew up, and now I need a emergency loan in Tennessee for $124000 to buy a big ticket item. It has been difficult, but Magna Bank really came through for me with this loan for 9.8% interest APR and a term of 7 years. I can probably repay the loan over the 7 year term, including interest. A big thanks to Magna Bank for trusting me and my bad credit. It look me 7 years to create my credit to 477, and I won’t harm it any future. I am happy with Find Texas Loans for assisting me this far.
Installment loan for Thurman, a graduate of Toni & Guy Hairdressing Academy – Seattle and an industrial-organizational psychologist working for over $73,000 per year
Thurman, an alumnus at Toni & Guy Hairdressing Academy – Seattle and an industrial-organizational psychologist in Memphis, Tennessee wants an emergency loan to purchase a house. Thurman has instead decided to obtain an installment loan for $7,000 and is currently seeking lenders like GreenBank to provide it.
Thurman’s Transunion score was altered by the emergency loan loan, changing to 462 from 477, which is typical in our experience.
Conclusion of Thurman’s emergency loan
In the end, Thurman was able to find an emergency loan for $124000 with an interest rate of 10.5% interest APR from Magna Bank in Memphis, Tennessee repayable over 7 years from today.