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$60000 Secured Loan In Atlanta Georgia With Credit Score 374 For Cathrine

$60000 Secured Loan – Atlanta Georgia, Credit Score Of 374

  • Experian: 385 – This client had a terrible Experian score
  • Transunion: 361 – Cathrine had a terrible credit score with Transunion.
  • Equifax: Cathrine’s Experian score was 374, which is a terrible credit rating on the Experian rating scheme.

Contact Details for Brookhaven Bank, the provider of this secured loan

  • Brookhaven Bank
  • City: Atlanta
  • State: Georgia
  • Address: 2987 Clairmont Road, Ne, Suite 150
  • County: Dekalb
  • Zip code: 30329

Many other requests for credit have been made by Cathrine in the past, including one from First Financial Bank in Atlanta, Georgia before Cathrine was accepted for the $60000 by Brookhaven Bank

Cathrine made 6 previous tries to obtain a secured loan, 2 of which were with First Financial Bank, a bank in Atlanta, Georgia known to specialize in secured loans specifically. Before finding Brookhaven Bank, Cathrine was very concerned due to their inexperience and terrible credit rating.

Fast Loans for Cathrine in Atlanta, Georgia to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Atlanta, Georgia aren’t actually that difficult to obtain, particularly if you have some gumption like Cathrine. Cathrine was able to find a fast loan for $60000 from Washington Loan & Banking Company and Monroe County Bank, but declined both offers in favor of their secured loan from Brookhaven Bank. The improvement with a fast loan over a personal loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 5 weeks for debt consolidation loans. Much better in the case that a borrower is in a pinch.

Client Profile: Cathrine Boutros of Atlanta, Georgia
  • Full name (Changed if requested): Cathrine Boutros
  • Current Credit: loans.hit.utils.Fico@3abfe836
  • Current City: Atlanta
  • State: Georgia
  • Zip code: 30330
  • Yearly income: $42,000
  • Current Job: mental health counselor
  • Current County: Dekalb
  • Goal Yearly Income: $101,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $5000

Cathrine has a very low current yearly income, but has a large amount of prospects

Cathrine has always wanted to be an outdoor education teacher, but would have to attend Appalachian Technical College again to become one. Cathrine has other prospects as well, including criminal justice professor, medical equipment preparer, and food technologist, which pay $57,000 through to $91,000 per year, at least. Because of this, we believe that Cathrine can afford this secured loan of $60000.

Cathrine’s Overall FICO score at the time of acceptance for a secured loan, taking into account their mental health counselor job and their future career as an outdoor education teacher

Fico Score: 374

6 Months Ago, Cathrine Attempted Finding a High Risk Loan for $22,000.00, and it was Easy

It is an well known struggle for borrowers to get high risk loans in a safe way. a lot of high risk loans end up coming from loan sharks or similar lenders, which can be physically harmful to borrowers like Cathrine. Cathrine decided not to obtain a high risk loan this time. High Risk loans are generally given by lenders to bad credit individuals. Clients with credit scores as low as 464 can apply for a high risk loan and may be be approved.

Personal Loan for a mental health counselor named Cathrine in Atlanta, Georgia to Pay Off Merrill Lynch WCMA Business Access

Cathrine had a lot of credit card debt on their Fulton Bank Visa Business Card and their Elder-Beerman Credit Card, and they were starting to get in over their heads. Despite Cathrine’s job as a mental health counselor, they struggled to make payments on the $22,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Before applying for this secured loan, Cathrine had an Experian score of 385, which is terrible, so Brookhaven Bank most likely cannot provide Cathrine a secured loan

Experian Score: 385

Installment loan for Cathrine, a graduate of Appalachian Technical College and a mental health counselor working for over $60,000 per year

Cathrine, an alumnus at Appalachian Technical College and a mental health counselor in Atlanta, Georgia wants a secured loan to purchase a new cell phone. Cathrine has instead decided to obtain an installment loan for $7,000 and is at present seeking lenders like First South Bank, National Association to provide it.

Cathrine was not approved by Exchange Bank 5 times prior to being approved by Brookhaven Bank at 2987 Clairmont Road, Ne, Suite 150

On November 20, 2009, Cathrine inquired about borrowing $49,000 from The Citizens and Southern Bank of Dublin with Missy, their friend from just outside Atlanta, and even with the co-signer, Cathrine was rejected for this secured loan. With terrible credit, it can be challenging to procure financing, even with collateral and a co-signer.

Debt Consolidation Will Help Most Highly Indebted Borrower to Escape Bad Debts like Loan Sharks

Average debt consolidation loans range from $39,000.00 to $48,000.00. They are mainly used to pay off existing high interest loans like credit cards. Cathrine required a debt consolidation loan to pay for their existing secured loan and their payday loan. Cathrine was able to find a secured loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which transfers your dirty, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates that are low, like 4.5%.

Previous requests on Cathrine’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$93660.00 4 8.5% $2308.56 NationsBank of Florida, National Association June 14, 2012
$93870.00 10 7.8% $1129.01 Century Bank and Trust October 15, 2014
$94420.00 8 10.5% $1457.85 Bank of Madison July 5, 2015
$94320.00 9 5.2% $1095.43 Bank of Hazlehurst July 13, 2015
$94340.00 4 9.3% $2361.12 The Citizens and Southern Bank of Dublin August 27, 2015

Paraphrased and Standardized Quote from Cathrine for this secured loan of $60000, provided by Brookhaven Bank

Hi, I am Cathrine and I’m from Atlanta in Georgia. Dekalb, county is where I grew up, and now I need a secured loan in Georgia for $60000 to buy a big ticket item. It has been difficult, but Brookhaven Bank really came through for me with this loan for 10.8% interest APR and a term of 3 years. I can repay the loan over the 3 year term, including interest. A big thanks to Brookhaven Bank for giving me a chance and my terrible credit. It look me 5 years to build my credit to 374, and I won’t harm it any future. I am pleased with Find Texas Loans for helping me this far.

Cathrine’s Transunion score was altered by the secured loan loan, changing to 361 from 374, which is typical in our experience.

Transunion Score: 361

When Cathrine was 19, they tried to obtain a student loan from 4 different lenders, which damaged their credit score. Below is a list of Cathrine’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $32,000.00 on September 6, 2010
  • Attempt 2) Loan for $24,000.00 on October 26, 2008
  • Attempt 3) Loan for $21,000.00 on December 30, 2010
  • Attempt 4) Loan for $27,000.00 on March 30, 2012

Signature Loan easily acquired in Atlanta, Georgia for $60000 with terrible credit by Cathrine

Most clients struggle with finding signature loans in Atlanta, Georgia, and Cathrine is the same. Cathrine went to 6 lenders or more before settling on Brookhaven Bank, who offered Cathrine a signature loan for $60000. Most signature loans simply need a client, like Cathrine’s signature to get them, up to $34,000 in some cases. Cathrine was able to get $60000 as a secured loan, which is very high for a secured loan. Since signature loans do not need collateral, these loans tend to require better credit, as high as 767

Conclusion of Cathrine’s secured loan

In the end, Cathrine was able to find a secured loan for $60000 with an interest rate of 9.4% interest APR from Brookhaven Bank in Atlanta, Georgia repayable over 3 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.