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Personal Loan For $42000 Near 31522, Georgia With A Credit Score Of 416

$42000 Personal Loan – Saint Simons Island Georgia, Credit Rating Of 416

  • Experian: 433 – This client had a bad Experian score
  • Transunion: 398 – Hermila had a bad credit rating with Transunion.
  • Equifax: Hermila’s Experian score was 416, which is a bad credit rating on the Experian scale.

Hermila has a very low current total income, but has a high number of prospects

Hermila has always wanted to be a golf course superintendent, but would need attend American College of Healthcare again to become one. Hermila has other possibilities as well, including mental health counselor, insurance adjuster, and manual arts therapist, which pay $52,000 through to $108,000 per year, on average. Because of this, we believe that Hermila can afford this personal loan of $42000.

9 Months in the Past, Hermila Tried to Find a High Risk Loan for $43,000.00, and it was Easy

It is an existing struggle for borrowers to find high risk loans in a non-harmful manner. Many high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Hermila. Hermila chose not to get a high risk loan this time. High Risk loans are generally given by lenders to bad credit borrowers. Individuals with credit scores as low as 555 can inquire for a high risk loan and possibly can be accepted.

Contact Details for Frederica Bank & Trust, the provider of this personal loan

  • Frederica Bank & Trust
  • City: Saint Simons Island
  • State: Georgia
  • Address: 1709 Frederica Road
  • County: Glynn
  • Zip code: 31522

Several previous requests for credit have been made by Hermila in the past, including one from First Federal Savings and Loan Association of Bergen Co in Saint Simons Island, Georgia before Hermila was accepted for the $42000 by Frederica Bank & Trust

Hermila made 5 prior attempts to obtain a personal loan, 2 of which were with First Federal Savings and Loan Association of Bergen Co, a bank in Saint Simons Island, Georgia known to specialize in personal loans specifically. Prior to finding Frederica Bank & Trust, Hermila was very concerned due to their inexperience and bad credit rating.

Fast Loans for Hermila in Saint Simons Island, Georgia to prevent bankruptcy or harm from debt collectors.

Fast loans in Saint Simons Island, Georgia aren’t actually that difficult to obtain, especially if you have some finesse like Hermila. Hermila was able to find a fast loan for $42000 from The Commercial Bank and Sylvester Banking Company, but declined both offers in favor of their personal loan from Frederica Bank & Trust. The difference with a fast loan over a personal 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 borrower is on the go.

Paraphrased and Standardized Quote from Hermila for this personal loan of $42000, provided by Frederica Bank & Trust

Hello, I am Hermila and I’m from Saint Simons Island in Georgia. Glynn, county is where I grew up, and now I need a personal loan in Georgia for $42000 to buy a car. It has been difficult, but Frederica Bank & Trust really came through for me with this loan for 8.8% interest APR and a term of 1 years. I will repay the loan over the 1 year term, including interest. A big thanks to Frederica Bank & Trust for giving me a chance and my bad credit. It look me 8 years to build my credit to 416, and I won’t harm it any future. I’m happy with Find Texas Loans for assisting me this far.

Previous requests on Hermila’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$139380.00 10 9.4% $1795.92 NationsBank of Florida, National Association February 14, 2011
$138710.00 10 11.1% $1918.59 Century Bank and Trust June 5, 2013
$139300.00 6 11.1% $2658.59 Bank of Madison January 12, 2014
$139270.00 7 10.5% $2348.19 Bank of Hazlehurst February 16, 2014
$138890.00 11 6.6% $1482.73 The Citizens and Southern Bank of Dublin April 12, 2014

Installment loan for Hermila, a graduate of American College of Healthcare and a food batchmaker working for over $65,000 per year

Hermila, an alumnus at American College of Healthcare and a food batchmaker in Saint Simons Island, Georgia wants a personal loan to purchase a new cell phone. Hermila has instead chosen to get an installment loan for $9,000 and is currently seeking lenders like Allied Bank of Georgia to provide it.

Hermila was rejected by Century Bank and Trust 4 times before being approved by Frederica Bank & Trust at 1709 Frederica Road

On September 11, 2012, Hermila applied about borrowing $29,000 from The Citizens and Southern Bank of Thomaston with Lenard, their in law from just outside Saint Simons Island, and even with the co-signer, Hermila was rejected for this personal loan. With bad credit, it can be difficult to obtain financing, even with collateral and a co-signer.

Hermila’s Overall FICO score at the time of acceptance for a personal loan, taking into account their food batchmaker job and their future career as a golf course superintendent

Fico Score: 416

Personal Loan for a food batchmaker named Hermila in Saint Simons Island, Georgia to Pay Off Fidelity Retirement Rewards American Express

Hermila had a lot of credit card debt on their Reach Out and Read Visa Card and their Saratoga’s Community FCU Business Visa, and they were starting to get in over their heads. Despite Hermila’s job as a food batchmaker, they struggled to make payments on the $26,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Signature Loan easily acquired in Saint Simons Island, Georgia for $42000 with bad credit by Hermila

A lot of borrowers have difficulty with obtaining signature loans in Saint Simons Island, Georgia, and Hermila is no exception. Hermila went to 7 lending institutions or more before settling on Frederica Bank & Trust, who offered Hermila a signature loan for $42000. Typical signature loans simply require a client, like Hermila’s signature to obtain them, up to $38,000 in some cases. Hermila was able to get $42000 as a personal loan, which is very high for a personal loan. Because signature loans do not require a cosigner, they tend to require higher credit, as high as 738

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

Average debt consolidation loans range from $26,000.00 to $53,000.00. They are typically used to pay off existing high interest loans like credit cards. Hermila required a debt consolidation loan to pay for their existing personal loan and their loan shark loan. Hermila was able to find a personal loan in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which changes your bad, high interest loans to a single lower interest loan. Debt consolidation loans usually have interest rates that are low, like 2.0%.

Before applying for this personal loan, Hermila had an Experian score of 433, which is bad, so Frederica Bank & Trust probably cannot provide Hermila a personal loan

Experian Score: 433

Client Profile: Hermila Decarmine of Saint Simons Island, Georgia
  • Full name (Changed if requested): Hermila Decarmine
  • Current Credit: loans.hit.utils.Fico@1a6c5a9e
  • Current City: Saint Simons Island
  • State: Georgia
  • Zip code: 31530
  • Yearly income: $52,000
  • Current Job: food batchmaker
  • Current County: Glynn
  • Goal Yearly Income: $118,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $1000

When Hermila was 24, they attempted to obtain a student loan from 4 different lenders, which harmed their credit score. Below is a chronology of Hermila’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $28,000.00 on October 27, 2008
  • Attempt 2) Loan for $25,000.00 on December 11, 2011
  • Attempt 3) Loan for $37,000.00 on October 24, 2013
  • Attempt 4) Loan for $29,000.00 on July 22, 2010

Hermila’s Transunion score was changed by the personal loan loan, changing to 398 from 416, which is normal in our experience.

Transunion Score: 398

Conclusion of Hermila’s personal loan

In the end, Hermila was able to find a personal loan for $42000 with an interest rate of 10.5% interest APR from Frederica Bank & Trust in Saint Simons Island, Georgia repayable over 1 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.