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3 Year Consolidation Loan For Barbara In Chicago Illinois

$124000 Consolidation Loan – Chicago Illinois, Credit Rating Of 647

  • Experian: 665 – The client had a good Experian rating
  • Transunion: 629 – Barbara had a good credit score with Transunion.
  • Equifax: Barbara’s Experian score was 647, which is a good credit rating on the Experian scale.

Barbara’s Transunion score was changed by the consolidation loan loan, changing to 629 from 647, which is typical in our experience.

Transunion Score: 629

When Barbara was 24, they attempted to obtain a student loan from 5 different lenders, which damaged their credit score. Below is a list of Barbara’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $25,000.00 on May 23, 2009
  • Attempt 2) Loan for $23,000.00 on September 30, 2011
  • Attempt 3) Loan for $23,000.00 on December 13, 2012
  • Attempt 4) Loan for $32,000.00 on March 12, 2013
  • Attempt 5) Loan for $23,000.00 on December 7, 2010

Paraphrased and Standardized Quote from Barbara for this consolidation loan of $124000, provided by Allied Savings and Loan Association

Hi, I am Barbara and my hometown is Chicago in Illinois. Cook, county is where I grew up, and now I need a consolidation loan in Illinois for $124000 to buy a car. It wasn’t easy, but Allied Savings and Loan Association really came through for me with this loan for 9.5% interest APR and a term of 16 years. I will repay the loan over the 16 year term, including interest. A big thanks to Allied Savings and Loan Association for trusting me and my good credit. It look me 4 years to build my credit to 647, and I won’t harm it any future. I am pleased with Find Texas Loans for helping me this far.

9 Months in the Past, Barbara Attempted to Find a High Risk Loan for $31,000.00, but They Didn’t Find What They were Expecting

It is an existing struggle for borrowers to find high risk loans in a non-harmful way. Many high risk loans end up coming from loan sharks or the like, which can be scary to borrowers like Barbara. Barbara chose not to obtain a high risk loan this time. High Risk loans are generally given by lenders to bad credit individuals. Individuals with credit ratings as low as 406 can inquire for a high risk loan and may be be accepted.

Previous requests on Barbara’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$12240.00 11 11.7% $165.25 The Gerber State Bank December 11, 2011
$11870.00 7 5.8% $172.27 The Belvidere National Bank and Trust Company November 12, 2013
$11860.00 5 6.3% $230.95 Commerce Bank June 25, 2014
$12260.00 7 11.1% $210.57 Byron Bank April 14, 2015

Debt Consolidation Can Assist Most Deeply Indebted Borrower to Escape Bad Debts like Credit Card Debt

Most debt consolidation loans range from $28,000.00 to $49,000.00. They are typically used to pay off existing high interest loans like credit cards. Barbara required a debt consolidation loan to pay for their existing consolidation loan and their credit card. Barbara was able to find a consolidation loan in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which transfers your dirty, high interest loans to one lower interest loan. Debt consolidation loans usually have interest rates as low as 2.7%.

Many previous requests for credit have been made by Barbara in the past, including one from Great Eastern Bank of Florida in Chicago, Illinois before Barbara was accepted for the $124000 by Allied Savings and Loan Association

Barbara made 7 previous attempts to obtain a consolidation loan, 2 of which were with Great Eastern Bank of Florida, a lender in Chicago, Illinois known to specialize in consolidation loans specifically. Prior to finding Allied Savings and Loan Association, Barbara was desperate due to their inexperience and good credit rating.

Barbara was rejected by The National Republic Bank of Chicago 7 times before being granted funding by Allied Savings and Loan Association at 7015 West Grand Ave

On March 25, 2012, Barbara applied about borrowing $23,000 from The State Bank of Geneva with Wes, their in law from just outside Chicago, and even with the co-signer, Barbara was rejected for this consolidation loan. With good credit, it can be difficult to obtain financing, even with collateral and a co-signer.

Personal Loan for an electronics technician named Barbara in Chicago, Illinois to Pay Off Bangor Savings Bank Visa Business Card

Barbara had a lot of credit card debt on their Malvern Federal Savings Bank Visa Business Bonus Rewards PLUS Card and their Pearle Vision Credit Card, and they were starting to get in over their heads. Despite Barbara’s job as an electronics technician, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Installment loan for Barbara, a graduate of Worcester State University and an electronics technician working for over $64,000 per year

Barbara, an alumnus at Worcester State University and an electronics technician in Chicago, Illinois wants a consolidation loan to purchase something frivolous. Barbara has instead decided to get an installment loan for $22,000 and is at present seeking lenders like LaSalle Bank NI to provide it.

Barbara’s Overall FICO score at the time of acceptance for a consolidation loan, taking into account their electronics technician job and their future job as a technical illustrator

Fico Score: 647

Signature Loan found in Chicago, Illinois for $124000 with good credit by Barbara

Many borrowers struggle with obtaining signature loans in Chicago, Illinois, and Barbara is no different. Barbara went to 7 lending institutions or more prior to finding Allied Savings and Loan Association, who offered Barbara a signature loan for $124000. Most signature loans simply need a client, like Barbara’s signature to obtain them, up to $20,000 in some cases. Barbara was able to get $124000 as a consolidation loan, which is very high for a consolidation loan. Because signature loans do not need collateral, they tend to need higher credit, as high as 764

Client Profile: Barbara Mcghinnis of Chicago, Illinois
  • Full name (Changed if requested): Barbara Mcghinnis
  • Current Credit: loans.hit.utils.Fico@7cd84586
  • Current City: Chicago
  • State: Illinois
  • Zip code: 60639
  • Yearly income: $52,000
  • Current Job: electronics technician
  • Current County: Cook
  • Goal Yearly Income: $89,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $9000

Contact Details for Allied Savings and Loan Association, the provider of this consolidation loan

  • Allied Savings and Loan Association
  • City: Chicago
  • State: Illinois
  • Address: 7015 West Grand Ave
  • County: Cook
  • Zip code: 60635

Barbara has a very low current total income, but has a large amount of prospects

Barbara has always wanted to be a technical illustrator, but would have to attend Worcester State University again to achieve it. Barbara has other possibilities as well, including criminal investigator, missing person investigator, and middle school guidance counselor, which pay $59,000 through to $97,000 per year, at least. Because of this, we think that Barbara can pay for this consolidation loan of $124000.

Before applying for this consolidation loan, Barbara had an Experian score of 665, which is good, so Allied Savings and Loan Association likely cannot provide Barbara a consolidation loan

Experian Score: 665

Fast Loans for Barbara in Chicago, Illinois to prevent bankruptcy or broken legs from debt collectors.

Fast loans in Chicago, Illinois aren’t actually that difficult to obtain, particularly if you have some gumption like Barbara. Barbara was able to find a fast loan for $124000 from Bank One, Illinois, National Association and Metropolitan Bank and Trust Company, but declined both offers in favor of their consolidation loan from Allied Savings and Loan Association. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 6 weeks for debt consolidation loans. An improvement if you are in a pinch.

Conclusion of Barbara’s consolidation loan

In the end, Barbara was able to find a consolidation loan for $124000 with an interest rate of 8.7% interest APR from Allied Savings and Loan Association in Chicago, Illinois repayable over 16 years from today.

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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