A high risk loan is a loan financing that has a higher likelihood of default in comparison to a traditional loan. The greatest risk is normally a poor credit score and or outstanding collections. There are only a few lenders that will consider working with high-risk loans and a few are listed here.
Cash Advance Payday Loan
Alissa made an attempt to get a high risk loan for $80,000.00 last year, but was declinedPrinciple of LoanLength of Term (Years)Interest Rate (APR)Monthly Installment PaymentLending Institution
|$80340.00||4||8.1%||$1965.11||Bank of the South|
|$80270.00||5||6.3%||$1563.07||Alabama City Bank of Gadsden, Alabama|
Alissa has a personal loan of $20,000 lent by The Citizens Bank of Georgiana from 3 months agoStarting Interest Rate (APR)Remaining principleLender nameLender cityLender StateLoan Obtained
|7.6% APR||$17188.03 outstanding||AuburnBank||Auburn||Alabama||7 months ago|
|10.1% APR||$16442.53 outstanding||Bank of the South||Abbeville||Alabama||7 months ago|
|10.0% APR||$12960.12 outstanding||Alabama City Bank of Gadsden, Alabama||Gadsden||Alabama||19 months ago|
|8.6% APR||$13579.17 outstanding||The Exchange Bank, Attalla, Alabama||Attalla||Alabama||13 months ago|
|7.5% APR||$15190.88 outstanding||Robertson Banking Company||Demopolis||Alabama||12 months ago|
|6.0% APR||$12698.72 outstanding||East Gadsden Bank||Gadsden||Alabama||12 months ago|
High risk loan from Bank of Evergreen in Evergreen -- 36401, Alabama
Searching loans often impact borrowers credit scores. When approved, people undergo alterations to their credit. Alissa experienced numerous changes to her credit during the application process for this $80,000 high-risk loan. The bank completed a hard pull on my account. Alissa had an original credit score of 596.
- Alissa had a rating on the Fico scale of 596, which is looked upon by lenders as bad credit
- When it comes to Transunion, Alissa possessed an initial rating of 580, and so Alissa has a bad credit score
- Alissa had a rating on the Experian scale of 611, which is looked upon by lenders as bad credit
Alissa now has a Fico score of 596. This is a bad credit rating
With the Transunion scale, Alissa has a bad credit score of 580. This score changes how lenders will view their credit, and as a result, the APR of their loan
On the Experian scale, Alissa has a bad credit score of 611, that will have impacted their loan APR
Fico credit ratings are changed as a result of obtaining financing with credit. Credit can be changed by as little as 46 points, depending on the quality of the high risk loan. Alissa found an APR of 10.5, which is reasonable for a client like them.
The Fico score of Alissa was reduced to 559 from 596 due to this high risk loan application. We should not forget, any loan will reduce your credit rating. We have experienced clients having credit fluctuations of as much as 82 points on the Transunion scale. This is significant.
Standard Lender profile of Bank of Evergreen of Evergreen
Bank of Evergreen we believe to be a loan provider located in Evergreen, Alabama. This bank has 1 location currently, which is a small number of offices. Normally, lenders with such a large number of locations like Bank of Evergreen will lend to better credit people preferentially versus other, more average lenders. This is a result of the fact that they cannot afford to take risks with their capital. Most banks have all-in asset ranges of about $797 million while Bank of Evergreen has $57,570,000 total assets, making them a reasonable choice for men with fair credit ratings.
At the time of this writing, Bank of Evergreen is probably active; this indicates that you currently cannot procure financing from this bank. While we cannot be certain, our records are currently up to date with the FDIC's (Federal Deposit Insurance Corporation). Active lenders similar to Bank of Evergreen may or may not still be providing loans this month.
The bank was unable to finance my loan.
Alissa, a person from Evergreen, at first inquired regarding a loan of $81000. They wanted a high-risk loan.
Life is crazy sometimes, especially mine. I'm Alissa from Evergreen, Alabama and my nearest lender is Bank of Evergreen. I have inquired with Bank of Evergreen a few times and have been rejected. I want a high risk loan for $81000.Thanks, Alissa.
- Client name: Alissa
- County: Conecuh
- Home State: Alabama
- Current zip code: 36406
- Current income: $34,000
- Profession: health case reception
- Credit Card Debt: $1000 on their The Workmen's Circle Visa® Card
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