Do you have over $10,000 in Debt? Get Help now.

$148000 High Risk Loan With Terrible Credit In Traverse City Michigan

$148000 High Risk Loan – Traverse City Michigan, Credit Score Of 368

  • Experian: 383 – This client had a terrible Experian score
  • Transunion: 351 – Digna had a terrible credit rating with Transunion.
  • Equifax: Digna’s Experian score was 368, which is a terrible credit rating with the Experian system.

When Digna was 21, they attempted to obtain a student loan from 7 different banks, which damaged their credit score. Below is a chronology of Digna’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $28,000.00 on August 18, 2009
  • Attempt 2) Loan for $39,000.00 on May 14, 2011
  • Attempt 3) Loan for $30,000.00 on July 3, 2011
  • Attempt 4) Loan for $20,000.00 on November 21, 2009
  • Attempt 5) Loan for $36,000.00 on May 17, 2010
  • Attempt 6) Loan for $35,000.00 on February 14, 2010
  • Attempt 7) Loan for $22,000.00 on December 24, 2010

6 Months Ago, Digna Attempted Finding a High Risk Loan for $45,000.00, and it was Easy

There is an existing struggle for clients to get high risk loans in a safe way. Many high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Digna. Digna decided not to obtain a high risk loan this time. High Risk loans are given to very low credit clients. Individuals with credit scores as low as 473 can apply for a high risk loan and possibly can be approved.

Signature Loan found in Traverse City, Michigan for $148000 with terrible credit by Digna

Most clients struggle with obtaining signature loans in Traverse City, Michigan, and Digna is no different. Digna went to 4 lending institutions or more before finding Northwestern Bank, who offered Digna a signature loan for $148000. Typical signature loans simply need a client, like Digna’s signature to get them, up to $27,000 in some cases. Digna was able to get $148000 as a high risk loan, which is very high for a high risk loan. Because signature loans do not need collateral, these loans generally need better credit, as high as 790

Installment loan for Digna, a graduate of Springfield College in Illinois and a plumber working for over $78,000 per year

Digna, an alumnus at Springfield College in Illinois and a plumber in Traverse City, Michigan wants a high risk loan to purchase a house. Digna has instead decided to obtain an installment loan for $12,000 and is currently seeking lenders like New Haven Savings Bank to provide it.

Personal Loan for a plumber named Digna in Traverse City, Michigan to Pay Off Justice FCU Visa Gold Card

Digna had a tonne of credit card debt on their Tompkins Trust Company Visa Signature Bonus Rewards Card and their Discount Tire Credit Card, and they were starting to get in over their heads. Despite Digna’s job as a plumber, they struggled to make payments on the $26,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Paraphrased and Standardized Quote from Digna for this high risk loan of $148000, provided by Northwestern Bank

Hi, I am Digna and I’m from Traverse City in Michigan. Grand Traverse, county is where I grew up, and now I need a high risk loan in Michigan for $148000 to buy a big ticket item. It wasn’t easy, but Northwestern Bank really came through for me with this loan for 7.5% interest APR and a term of 18 years. I can repay the loan over the 18 year term, including interest. A big thanks to Northwestern Bank for trusting me and my terrible credit. It look me 7 years to create my credit to 368, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for assisting me this far.

Multiple past requests for credit have been made by Digna in the past, including one from Sunshine State Bank in Traverse City, Michigan before Digna was approved for the $148000 by Northwestern Bank

Digna made 6 prior attempts to obtain a high risk loan, 2 of which were with Sunshine State Bank, a lender in Traverse City, Michigan known to specialize in high risk loans specifically. Before finding Northwestern Bank, Digna was very concerned due to their inexperience and terrible credit score.

Digna’s Overall FICO score at the time of acceptance for a high risk loan, taking into account their plumber job and their future career as a materials scientist

Fico Score: 368

Client Profile: Digna Crinklaw of Traverse City, Michigan
  • Full name (Changed if requested): Digna Crinklaw
  • Current Credit: loans.hit.utils.Fico@4459eb14
  • Current City: Traverse City
  • State: Michigan
  • Zip code: 49690
  • Yearly income: $41,000
  • Current Job: plumber
  • Current County: Grand Traverse
  • Goal Yearly Income: $80,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $7000

Digna’s Transunion score was altered by the high risk loan loan, changing to 351 from 368, which is normal in our experience.

Transunion Score: 351

Before applying for this high risk loan, Digna had an Experian score of 383, which is terrible, so Northwestern Bank most likely can provide Digna a high risk loan

Experian Score: 383

Digna was not approved by Citizens State Bank 4 times before being accepted by Northwestern Bank at 625 South Garfield Avenue

On March 10, 2011, Digna inquired about borrowing $46,000 from New Haven Savings Bank with Rayna, their friend from just outside Traverse City, and even with the co-signer, Digna was rejected for this high risk loan. With terrible credit, it can be very hard to procure funding, even with collateral and a co-signer.

Contact Details for Northwestern Bank, the provider of this high risk loan

  • Northwestern Bank
  • City: Traverse City
  • State: Michigan
  • Address: 625 South Garfield Avenue
  • County: Grand Traverse
  • Zip code: 49685

Digna has a low current yearly income, but has several of prospects

Digna has always wanted to be a materials scientist, but would need attend Springfield College in Illinois again to achieve it. Digna has other prospects as well, including surgeon, tax lawyer, and mechanical engineering technician, which pay $55,000 through to $109,000 per year, on average. Because of this, we believe that Digna can pay for this high risk loan of $148000.

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

Normal debt consolidation loans vary from $31,000.00 to $57,000.00. They are mainly used to pay off existing high interest loans like credit cards. Digna needed a debt consolidation loan to pay for their existing high risk loan and their payday loan. Digna was able to find a high risk loan in the end. Debt consolidation, or just consolidation, is a technique in the strategic borrowing method which transfers your less desirable, high interest loans to one reduced interest loan. Debt consolidation loans generally have interest rates as low as 2.2%.

Previous requests on Digna’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$27890.00 11 9.5% $341.34 Society Bank, Lenawee March 5, 2011
$28360.00 4 6.8% $676.49 Bank of Lenawee August 12, 2012
$28130.00 3 5.7% $851.95 First of America Bank – Alpena October 23, 2012
$28330.00 3 7.5% $881.24 NBD Ann Arbor, National Association March 4, 2013
$28160.00 11 11.7% $380.18 First of America Bank – Mid Michigan, National Association April 12, 2014

Fast Loans for Digna in Traverse City, Michigan to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Traverse City, Michigan aren’t actually that difficult to obtain, particularly if you have some gumption like Digna. Digna was able to find a fast loan for $148000 from First of America Bank – Alpena and Tri-County Bank, but declined both offers in favor of their high risk loan from Northwestern Bank. The improvement with a fast loan over a personal loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 6 weeks for personal loans. A big difference in the case that you are on the go.

Conclusion of Digna’s high risk loan

In the end, Digna was able to find a high risk loan for $148000 with an interest rate of 6.1% interest APR from Northwestern Bank in Traverse City, Michigan repayable over 18 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.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

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.