$44000 Debt Consolidation Loan – Paterson New Jersey, Credit Score Of 401
- Experian: 420 – This client had a bad Experian rating
- Transunion: 382 – Shane had a bad credit score with Transunion.
- Equifax: Shane’s Experian score was 401, which is a bad credit rating using the Experian scale.
Installment loan for Shane, a graduate of University of Phoenix and a medical examiner/coroner working for over $69,000 per year
Shane, an alumnus at University of Phoenix and a medical examiner/coroner in Paterson, New Jersey needs a debt consolidation loan to purchase a car. Shane has instead decided to obtain an installment loan for $10,000 and is at present seeking lenders like The National Bank of Sussex County to provide it.
Signature Loan easily acquired in Paterson, New Jersey for $44000 with bad credit by Shane
A lot of prospective borrowers struggle with finding signature loans in Paterson, New Jersey, and Shane is no exception. Shane went to 6 lending institutions or more before settling on United Savings Bank, F.S.B., who offered Shane a signature loan for $44000. Typical signature loans simply need a client, like Shane’s signature to get them, up to $28,000 in some cases. Shane was able to get $44000 as a debt consolidation loan, which is very high for a debt consolidation loan. Because signature loans do not need a cosigner, these loans tend to need higher credit, as high as 774
Previous requests on Shane’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$133280.00||9||5.2%||$1547.91||The State Bank of North Jersey||November 23, 2010|
|$133240.00||9||5.1%||$1541.0||Carteret Bank and Trust Company||May 31, 2012|
|$133370.00||5||6.2%||$2590.84||United Jersey Bank/Northwest||August 27, 2013|
|$132530.00||6||10.5%||$2488.78||People’s Trust Company||March 6, 2014|
Shane was rejected by Fidelity Union Bank 6 times prior to being approved by United Savings Bank, F.S.B. at 136 Market Street
On January 25, 2011, Shane inquired about borrowing $38,000 from United Jersey Bank with Gerda, their friend from just outside Paterson, and even with the co-signer, Shane was rejected for this debt consolidation loan. With bad credit, it can be a challenge to obtain funding, even with collateral and a co-signer.
When Shane was 23, they attempted to obtain a student loan from 7 different lenders, which damaged their credit score. Below is a chronology of Shane’s previous attempts at finding a student loan:
- Attempt 1) Loan for $22,000.00 on July 15, 2010
- Attempt 2) Loan for $25,000.00 on March 4, 2011
- Attempt 3) Loan for $32,000.00 on May 9, 2010
- Attempt 4) Loan for $37,000.00 on May 26, 2013
- Attempt 5) Loan for $36,000.00 on October 17, 2011
- Attempt 6) Loan for $27,000.00 on September 11, 2011
- Attempt 7) Loan for $35,000.00 on February 19, 2009
Paraphrased and Standardized Quote from Shane for this debt consolidation loan of $44000, provided by United Savings Bank, F.S.B.
Hello, I am Shane and my hometown is Paterson in New Jersey. Passaic, county is where I grew up, and now I need a debt consolidation loan in New Jersey for $44000 to buy a car. It has been difficult, but United Savings Bank, F.S.B. really came through for me with this loan for 6.3% interest APR and a term of 18 years. I can repay the loan over the 18 year term, including interest. A big thanks to United Savings Bank, F.S.B. for trusting me and my bad credit. It look me 4 years to build my credit to 401, and I won’t tarnish it any more. I’m happy with Find Texas Loans for helping me this far.
Debt Consolidation Will Assist Most Deeply Indebted Borrower to Escape Bad Debts like Credit Card Debt
Average debt consolidation loans range from $37,000.00 to $57,000.00. They are mainly used to pay off existing high interest loans like credit cards. Shane required a debt consolidation loan to pay for their existing debt consolidation loan and their loan shark loan. Shane was able to find a debt consolidation loan in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which transfers your less desirable, high interest loans to one lower interest loan. Debt consolidation loans generally have interest rates that are low, like 3.8%.
- Full name (Changed if requested): Shane Ornedo
- Current Credit: loans.hit.utils.Fico@68f7aae2
- Current City: Paterson
- State: New Jersey
- Zip code: 7511
- Yearly income: $60,000
- Current Job: medical examiner/coroner
- Current County: Passaic
- Goal Yearly Income: $141,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $6000
Shane has a low current total income, but has a large amount of prospects
Shane has always wanted to be an aerospace engineering technician, but would need attend University of Phoenix again to become one. Shane has other possibilities as well, including museum curator, furniture designer, and city planning aide, which pay $53,000 through to $94,000 per year, on average. For this reason, we believe that Shane can pay for this debt consolidation loan of $44000.
7 Months Ago, Shane Attempted to Find a High Risk Loan for $20,000.00, and it was Hard
There is an ongoing struggle for borrowers to find high risk loans in a non-harmful way. Many high risk loans end up coming from loan sharks or similar lenders, which can be scary to borrowers like Shane. Shane decided not to get a high risk loan this time. High Risk loans are generally given by lenders to terrible credit individuals. Borrowers with credit scores as low as 599 can apply for a high risk loan and possibly can be accepted.
Before applying for this debt consolidation loan, Shane had an Experian score of 420, which is bad, so United Savings Bank, F.S.B. likely cannot provide Shane a debt consolidation loan
Shane’s Transunion score was changed by the debt consolidation loan loan, changing to 382 from 401, which is normal in our experience.
Contact Details for United Savings Bank, F.S.B., the provider of this debt consolidation loan
- United Savings Bank, F.S.B.
- City: Paterson
- State: New Jersey
- Address: 136 Market Street
- County: Passaic
- Zip code: 7505
Fast Loans for Shane in Paterson, New Jersey to prevent bankruptcy or broken legs from debt collectors.
Fast loans in Paterson, New Jersey aren’t actually that difficult to obtain, especially if you have some finesse like Shane. Shane was able to find a fast loan for $44000 from First Merchants National Bank and The First National Bank of Belvidere, but declined both offers in favor of their debt consolidation loan from United Savings Bank, F.S.B.. The improvement 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. A big improvement in the case that a client is on the go.
Shane’s Overall FICO score at the time of acceptance for a debt consolidation loan, taking into account their medical examiner/coroner job and their future job as an aerospace engineering technician
Personal Loan for a medical examiner/coroner named Shane in Paterson, New Jersey to Pay Off State Farm Bank Business Visa Card
Shane had a lot of credit card debt on their Facecard Prepaid Teen MasterCard and their Virgin Atlantic White Card, and they were starting to get in over their heads. Despite Shane’s job as a medical examiner/coroner, they struggled to make payments on the $25,000.00 credit card balance, desperately needing assistance in the form of a personal loan.
Multiple past requests for credit have been made by Shane in the past, including one from Market Bank in Paterson, New Jersey before Shane was approved for the $44000 by United Savings Bank, F.S.B.
Shane made 4 previous tries to obtain a debt consolidation loan, 2 of which were with Market Bank, a lender in Paterson, New Jersey known to specialize in debt consolidation loans specifically. Prior to finding United Savings Bank, F.S.B., Shane was very concerned due to their inexperience and bad credit score.
Conclusion of Shane’s debt consolidation loan
In the end, Shane was able to find a debt consolidation loan for $44000 with an interest rate of 8.8% interest APR from United Savings Bank, F.S.B. in Paterson, New Jersey repayable over 18 years from today.