$111000 Secured Loan – Danville Illinois, Credit Rating Of 573
- Experian: 583 – They had a fair Experian rating
- Transunion: 556 – Johnnie had a fair credit score with Transunion.
- Equifax: Johnnie’s Experian score was 573, which is a fair credit rating on the Experian rating scheme.
Previous requests on Johnnie’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$132450.00||7||11.5%||$2302.84||The Gerber State Bank||March 26, 2014|
|$132360.00||6||5.5%||$2162.48||The Belvidere National Bank and Trust Company||March 13, 2015|
|$131880.00||7||10.3%||$2209.86||Commerce Bank||April 14, 2015|
|$132410.00||5||5.3%||$2516.98||Byron Bank||August 2, 2015|
Johnnie’s Overall FICO score at the time of acceptance for a secured loan, taking into account their fine artist job and their future job as a forestry and conservation professor
- Full name (Changed if requested): Johnnie Caffey
- Current Credit: loans.hit.utils.Fico@17f052a3
- Current City: Danville
- State: Illinois
- Zip code: 61836
- Yearly income: $44,000
- Current Job: fine artist
- Current County: Vermilion
- Goal Yearly Income: $81,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $6000
8 Months in the Past, Johnnie Attempted Finding a High Risk Loan for $47,000.00, and it was Easy
There is an ongoing struggle for borrowers to find high risk loans in a safe manner. a lot of high risk loans end up coming from loan sharks or similar lenders, which can be scary to borrowers like Johnnie. Johnnie decided not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to bad credit borrowers. Clients with credit scores as low as 398 can apply for a high risk loan and have a chance to be approved.
Personal Loan for a fine artist named Johnnie in Danville, Illinois to Pay Off CFCU Business Visa
Johnnie had a lot of credit card debt on their Target RedCard and their First Hawaiian Bank United MileagePlus Business Credit Card, and they were starting to get in over their heads. Despite Johnnie’s job as a fine artist, they struggled to make payments on the $20,000.00 credit card balance, badly needing assistance in the form of a personal loan.
Paraphrased and Standardized Quote from Johnnie for this secured loan of $111000, provided by Bank of Danville
Hi, I am Johnnie and my hometown is Danville in Illinois. Vermilion, county is where I grew up, and now I need a secured loan in Illinois for $111000 to renovate my home. It has been difficult, but Bank of Danville really came through for me with this loan for 8.1% interest APR and a term of 10 years. I will repay the loan over the 10 year term, including interest. A big thanks to Bank of Danville for trusting me and my fair credit. It look me 4 years to build my credit to 573, and I won’t tarnish it any more. I’m pleased with Find Texas Loans for helping me this far.
Johnnie has a low current total income, but has several of prospects
Johnnie has always wanted to be a forestry and conservation professor, but would need attend Ivy Tech Community College of Indiana again to become one. Johnnie has other prospects as well, including credit adjuster, purchasing manager, and marking clerk, which pay $58,000 through to $104,000 per year, on average. For this reason, we think that Johnnie can afford this secured loan of $111000.
Signature Loan acquired in Danville, Illinois for $111000 with fair credit by Johnnie
Many clients struggle with finding signature loans in Danville, Illinois, and Johnnie is no exception. Johnnie went to 6 lenders or more before settling on Bank of Danville, who offered Johnnie a signature loan for $111000. Most signature loans simply need a client, like Johnnie’s signature to obtain them, up to $44,000 in some cases. Johnnie was able to get $111000 as a secured loan, which is very high for a secured loan. Because signature loans do not need collateral, these loans tend to need improved credit, as high as 720
Installment loan for Johnnie, a graduate of Ivy Tech Community College of Indiana and a fine artist working for over $67,000 per year
Johnnie, an alumnus at Ivy Tech Community College of Indiana and a fine artist in Danville, Illinois wants a secured loan to purchase a new cell phone. Johnnie has instead chosen to get an installment loan for $1,000 and is at present seeking lenders like Merchandise National Bank of Chicago to process their request.
Many other requests for credit have been made by Johnnie in the past, including one from Scott Valley Bank in Danville, Illinois before Johnnie was accepted for the $111000 by Bank of Danville
Johnnie made 6 previous tries to obtain a secured loan, 2 of which were with Scott Valley Bank, a lending institution in Danville, Illinois known to specialize in secured loans specifically. Before finding Bank of Danville, Johnnie was very concerned due to their inexperience and fair credit score.
Debt Consolidation Will Help Any Highly Indebted Borrower to Escape Bad Debts like Credit Card Debt
Most debt consolidation loans range from $34,000.00 to $55,000.00. They are normally used to pay off existing high interest loans like credit cards. Johnnie needed a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Johnnie was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a technique in the debt snowball method which changes your less desirable, high interest loans to one lower interest loan. Debt consolidation loans usually have interest rates as low as 3.3%.
Johnnie was not approved by Greatbank Chicago 4 times prior to being accepted by Bank of Danville at 100 North Gilbert Street
On September 11, 2013, Johnnie applied about borrowing $16,000 from Harris Trust and Savings Bank with Effie, their friend from just outside Danville, and even with the co-signer, Johnnie was rejected for this secured loan. With fair credit, it can be difficult to procure financing, even with collateral and a co-signer.
When Johnnie was 18, they attempted to obtain a student loan from 4 alternate banks, which harmed their credit rating. Below is a list of Johnnie’s previous attempts at finding a student loan:
- Attempt 1) Loan for $39,000.00 on August 17, 2011
- Attempt 2) Loan for $39,000.00 on October 18, 2008
- Attempt 3) Loan for $33,000.00 on September 20, 2012
- Attempt 4) Loan for $26,000.00 on May 22, 2009
Before applying for this secured loan, Johnnie had an Experian score of 583, which is fair, so Bank of Danville likely cannot provide Johnnie a secured loan
Fast Loans for Johnnie in Danville, Illinois to prevent bankruptcy or bodily harm from debt collectors.
Fast loans in Danville, Illinois aren’t actually that difficult to obtain, particularly if you have some finesse like Johnnie. Johnnie was able to find a fast loan for $111000 from Citizens State Bank of Milford and Merchandise National Bank of Chicago, but turned down both offers in favor of their secured loan from Bank of Danville. The improvement with a fast loan over a installment loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 7 weeks for installment loans. A big difference in the case that a borrower is on the go.
Johnnie’s Transunion score was changed by the secured loan loan, changing to 556 from 573, which is typical in our experience.
Contact Details for Bank of Danville, the provider of this secured loan
- Bank of Danville
- City: Danville
- State: Illinois
- Address: 100 North Gilbert Street
- County: Vermilion
- Zip code: 61832
Conclusion of Johnnie’s secured loan
In the end, Johnnie was able to find a secured loan for $111000 with an interest rate of 6.7% interest APR from Bank of Danville in Danville, Illinois repayable over 10 years from now.