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Bad Credit Signature Loan in Killeen Texas

We have seen a definite uptick in loans being applied in the Killeen Texas area for amounts of $100 all the way up to $10,000, and sometimes even in the $100,000 range, keeping in mind that these are loans that are signature loans which are personal, unsecured and not for mortgage purposes.

This loan came from a Killeen Texas resident who wanted to borrow $5000 in unsecured cash, and they wanted to make the payments in monthly installments for under $200 per month. They had done the math on what they could afford to pay each month in the way of disposable income, and he wanted to make sure that their pocketbook wouldn’t be too overly stressed.

The surrounding areas of Killeen are towns and cities such as Temple, Waco, Georgetown, Austin, Hillsborough, and round rock Texas. The particular lender in this case has lend money to bad credit borrowers in all of these areas. In the past five years this lender has provided over $2 million worth of personal bad credit loans to people throughout the state of Texas. This is actually a very small amount of money if you compare it to what conventional lenders and banks lend out throughout the state over a year. This

In the table we presented this personal loan was approved for a total of $5000 in principal. The total interest on this loan ended up being just under $980, over a three-year term of monthly installments. The monthly payment was $163.70, with a closing payment of $245.42.

$5000 Bad Credit Signature Loan in Killeen Texas – Cost and Purpose

This borrower has a very low fico score at 588, and they were beside themselves with concern about getting approved for a signature style personal loan, meaning that they didn’t have any collateral in which to use, which is why there interest rate was fairly high at just under 13%. A 13% APR is definitely not uncommon when you consider how expensive some signature loans can get when the borrowers credit rating is severely damaged, and the conventional banks will not even consider the application for longer than 30 seconds.

This borrower lives in Killeen Texas, but actually works at Fort Hood, because she is a private in the military and has been in the military for over five years now (well, at the time of this application anyway). We find that their are numerous loans applied for by military personnel who work at the Fort Hood base, which is just West of Killeen. You would have to say that military personnel make up about 50% of the online loans being applied for and approved the from this area. Army personnel have to be treated differently when borrowers are serving them because there are federal laws in place that do affect the lenders in the state of Texas. You can charge too much in APR when you are giving loans to people who are serving in the military, and this affects the amount you can charge in effective APR, and in the fees and penalty fees structured into the small personal loans.

$5000 Signature Loan in Killeen, TX – Lender Service Area

Interest, Principal, Term Length for Killeen Loan

Table of Data for $5000 Signature Loan in Killeen (pre and post app)

Loan Data Loan Values
Principal Sig. Loan Amounts (lenders average) #1 $100, $200, $300, $400, $500, $600, $700, $800
Principal Sig. Loan Amounts (lenders average) #2 $900, $1000, $1100, $1200, $1300, $1400, $1500
Principal of Signature Loan $5000
Loan Product Nomenclature Unsecured Signature Loan (USL)
Loan Fee Per $100 (exact) n/a – installment based
Finalized Signing (Effective APR on Loan) 12.65%
Total Interest Charged by Lender $974.92
Total Monies Paid To Lender $5974.92
Lender’s Loan Term Lengths 3 years
Monthly Installment Payments $163.70
Closing Payment $81.72
Final Payment $245.42
Borrower’s Area of Residence Killeen
Other Areas of Lender Service Temple, Waco, Georgetown, Round Rock, Austin, Hillsboro
Main City Center of Application Killeen
State Texas
Lender Classification Unsecured Signature Loan Lender
Credit Score (FICO Number) 588

Killeen Borrower’s Loan Experience

This applicant wanted to borrow $5000 so that they could have a low interest month the payment and pay down multiple payday loans that they had accumulated in the last eight months. Unfortunately they used payday loan lenders to finance some of their personal activities, and used PDL companies to try and solve some of their monthly and daily shortfalls. This quickly ballooned out of control, and it is still questionable whether these payday loan lenders were even allowed to give multiple loans to this member of the United States Army.

There are obviously civilian lenders and borrowers doing business in Killeen, and we will be documenting some of their business and transactions in the future. The average amount of money borrowed by civilian customers in the city of Killeen is between $500, and $3000. This is just an average that we have taken from our database. The average interest rate charged by the lenders who service this area is between 8% and 15%, as long as they are not considered to be predatory lenders or payday/cash advance companies. There are no real limits in the state which keep these lenders under control, so it really comes down to the due diligence of each borrower to make sure that they are not getting direct off with any massively high interest rates, compounding over and over and over.

36 Loan Requests

  1. Tammy applied for the following loan:

    Purpose of Loan:

    Car repairs and pay off PAYDAY loan

    Tuesday, February 7, 2012 at 9:20 am | Permalink
  2. Denise applied for the following loan:

    Purpose of Loan:

    I need a loan a soon as possible so I can pay off some heavy debt I have accumulated over the last year. I lost my job as an IT person working for Wells Fargo and I have a job with Bank of America coming to fruition pretty soon so I can make the payment of around $600 a month without any issue.

    I need the money be early next week or I may face an eviction. I have two kids and the are both very young. I can’t get any help from family members and none of the banks in my area will lend me money – I’m not really that worried about the amount of interest in this loan, I just need to get the money in my account as fast as possible.

    I look forward to hearing from you in this matter, and thanks for the great site. My brother-in-law got approved for a loan here on Financing USA and he got the money in his account the next day after applying. I hope you can lend me the money that fast as well.

    My brother-in-law’s credit score was pretty bad at the time of his loan with too….worse than mine is now. PLEASE get back to me as soon as you can. I can speak with your lenders by phone.

    Friday, March 9, 2012 at 1:30 pm | Permalink
  3. KASEY applied for the following loan:

    Purpose of Loan:

    I AM IN A FINANCIAL BIND BECAUSE MY NEW HUSBAND FELL 16 FT FACE FIRST, CRUSHING A LOT OF HIS BONES IN HIS ARM AND FACE AND CAN NO LONGER WORK. MY SON IS HAVING TO GO TO FLORIDA FOR BASEBALL IN JULY, BUT THE TRIP HAS TO BE PAID FOR IN FULL IN THE NEXT 3 WEEKS. I HAVE ASKED FOR SPONSORS/DONATIONS, BUT HAVE ONLY RAISED $100 AND TRULY NEED THE HELP.

    Friday, May 4, 2012 at 7:13 am | Permalink
  4. KASEY applied for the following loan:

    Purpose of Loan:

    I AM IN A FINANCIAL BIND BECAUSE MY NEW HUSBAND FELL 16 FT FACE FIRST, CRUSHING A LOT OF HIS BONES IN HIS ARM AND FACE AND CAN NO LONGER WORK. MY SON IS HAVING TO GO TO FLORIDA FOR BASEBALL IN JULY, BUT THE TRIP HAS TO BE PAID FOR IN FULL IN THE NEXT 3 WEEKS. I HAVE ASKED FOR SPONSORS/DONATIONS, BUT HAVE ONLY RAISED $100 AND TRULY NEED THE HELP. I HAVE THE FINANCIAL MEANS TO MAKE MONTHLY PAYMENTS TO GET IT PAID OFF, I JUST DON’T HAVE THE LUMP SUM UP FRONT.

    PLEASE CONTACT ME IF YOU THINK YOU COULD HELP ME. THANK YOU AND HAVE A BLESSED FRIDAY!!

    Friday, May 4, 2012 at 7:17 am | Permalink
  5. OCTAVIA applied for the following loan:

    Purpose of Loan:

    I was taking care of my mother, brother and my children by myself and feel behind on bills, I need to pay off loans and catch back up.

    Monday, May 14, 2012 at 7:18 am | Permalink
  6. javier applied for the following loan:

    Purpose of Loan:

    Need to pay bills

    Monday, May 21, 2012 at 3:33 pm | Permalink
  7. Karen applied for the following loan:

    Purpose of Loan:

    Have a temporarily need for this ASAP. Have funds coming in end of next month where the loan can and will be fully paid off with the interest by end of next month, but this loan is needed for bills and rent right now.

    Thursday, May 31, 2012 at 5:10 pm | Permalink
  8. Tanya applied for the following loan:

    Purpose of Loan:

    Had some emergency stuff to come up and put me behind on some things. I want to be able to pay off some bills, and get caught up on the rest. i do not want to mess up my credit because I am trying to improve it and get to around 750.

    Monday, June 11, 2012 at 9:27 am | Permalink
  9. Tanya applied for the following loan:

    Purpose of Loan:

    I would like to pay off some bills,and I am having some remolding done to my house and I really need extra money to do this. I hope that I hear from you guys real soon. I need this loan really fast.

    Tuesday, June 12, 2012 at 5:56 am | Permalink
  10. jamarcus applied for the following loan:

    Purpose of Loan:

    moving

    Thursday, July 5, 2012 at 10:29 am | Permalink
  11. Bichthuy applied for the following loan:

    Purpose of Loan:

    I need to pay off some personal loans I got from friends and credit debts and other expenses like getting a new computer.

    Tuesday, July 31, 2012 at 3:41 pm | Permalink
  12. Bichthuy applied for the following loan:

    Purpose of Loan:

    I need to pay off some bills and get a new computer.

    Wednesday, August 1, 2012 at 8:53 am | Permalink
  13. kara applied for the following loan:

    Purpose of Loan:

    I need a loan asap I’m in debt from a while ago and because of it my credit score is pretty bad. I can’t get a loan anywhere to pay off my debt. Not to mention everytime my husband applies he’s told he doesn’t have enough credit history. I can’t move forward without getting rid of my debt. I can pay a monthly payment of 200-300 dollars. I have children and am trying to move forward but am stuck because no one will give me a chance.

    Saturday, August 4, 2012 at 3:34 pm | Permalink
  14. Laura applied for the following loan:

    Purpose of Loan:

    payday loans and some medical bills. I had a house fire that even with insurance ( things not up to code) panicked me into making a huge mistake. Don’t have credit cards. Live very simple. Sick about my credit score. Was mid 600 even cosigned both cars until when I moved, i neglected to pay a utility bill. I could have and just missed it. Would have gotten 2nd job but I really watch over my elderly parents. I work at a bank, so any payment deducted will ALWAYS clear… Thanks for your consideration.

    Monday, August 27, 2012 at 10:00 am | Permalink
  15. Laura applied for the following loan:

    Purpose of Loan:

    Payday loans and medical bills. Had a house fire that because of ins deduction and some things not up to code. I panicked at starting the payday loan cycle. I lived in my house for 16 yrs and sold it 7 mo. ago. (Broke even) Much cheaper living in apt. Live very simply. Would have got a 2nd job, but take care of my parents in the evening and on weekends. Will immediately pay off collection and strive to improve my score. Raised 2 children and never had this mess.
    I am so mortified and will never let this re occur. Old enough to have known better. Thanks for your consideration

    Monday, August 27, 2012 at 11:15 am | Permalink
  16. Jermaine applied for the following loan:

    Purpose of Loan:

    Need a trailer to pull behind my truck,lawn mower,saws,etc.

    Thursday, September 6, 2012 at 10:05 pm | Permalink
  17. ralph applied for the following loan:

    Purpose of Loan:

    I will be able to pay back with in 2 weeks and have proof of large bank transfer coming to me and just need a loanfrom this because of unexpected lawyers fees in real estate transaction.Dire need ASAP for 5 k because pressing matter involving my kids needing help.

    Saturday, October 13, 2012 at 8:19 am | Permalink
  18. david fischbach applied for the following loan:

    Purpose of Loan:

    union dues

    Monday, October 15, 2012 at 8:17 pm | Permalink
  19. fish applied for the following loan:

    Purpose of Loan:

    I am trying to buy into the union local 44 as a prop maker.

    Monday, October 15, 2012 at 8:19 pm | Permalink
  20. Cotton applied for the following loan:

    Purpose of Loan:

    Need to catch up on over due bills and student loans. Also need to move to house in town. The house we are in now is making my son with allergies very sick he missed over 30 days of school last year and alot this year already. Mind you this is a rent house we live in we have tried to seal up the over 30 holes that lead to both atticks in the house. We have replaced all the insulation put down poison and traps and can not keep out the rats and squirls in the woods beside our house. Please help!!

    Tuesday, October 23, 2012 at 1:31 pm | Permalink
  21. Degie applied for the following loan:

    Purpose of Loan:

    Need to pay deliquent amount on my car payment, before repossession.

    Thursday, November 15, 2012 at 10:59 am | Permalink
  22. Leon applied for the following loan:

    Purpose of Loan:

    Going through divorce-need moving expenses.

    Saturday, November 24, 2012 at 8:22 am | Permalink
  23. mary applied for the following loan:

    Purpose of Loan:

    Pay off payday loans into one loan payment make car repaires

    Saturday, December 1, 2012 at 1:58 pm | Permalink
  24. Laurie applied for the following loan:

    Purpose of Loan:

    I would like to improve my credit score by taking a long term loan to consolidate bills/debt.

    Wednesday, December 5, 2012 at 5:37 pm | Permalink
  25. Summer applied for the following loan:

    Purpose of Loan:

    I have had my hours cut. When this happened I got behind on bills on they have really stacked up. I would like to get caught up on bills so I do not have to worry and also start building my credit back up.

    Thursday, December 27, 2012 at 1:51 pm | Permalink
  26. demondta applied for the following loan:

    Purpose of Loan:

    i was took with a bill and have to pay off.

    Thursday, January 17, 2013 at 11:53 am | Permalink
  27. Phillip applied for the following loan:

    Purpose of Loan:

    Need money to move and catch up on bills I’ve fallen behind on since loosing my job

    Tuesday, March 5, 2013 at 2:10 pm | Permalink
  28. Alison applied for the following loan:

    Purpose of Loan:

    I have a student loan that I am currently working on paying off. I am also in school and paying out of pocket. I would like to pay off my auto loan and numerous medical bills. This will be impossible with all the monthly bills and child care costs.If I got this loan, it would help tremendously and I could start to rebuild my credit.

    Wednesday, March 6, 2013 at 10:47 am | Permalink
  29. Brandy applied for the following loan:

    Purpose of Loan:

    Clear up all debt and become current on monthly bills. I am trying to get back on track and hope this can be my fresh start. Car is out of commission and requires parts to be replaced as well.

    Saturday, March 16, 2013 at 11:46 pm | Permalink
  30. brian applied for the following loan:

    Purpose of Loan:

    Im going through a divorce and my ex destroyed my credit during my deployments so now ive been paying cash for everything but with the attorney fees and my engine going out on my car I cant do both and I cant wait to save up I can do a direct alotment to pay off the loan. And as of right now I can afford 400 a month in payments please I have tried to get a loan but have had no luck

    Friday, May 10, 2013 at 10:07 am | Permalink
  31. Michael applied for the following loan:

    Purpose of Loan:

    Recently divorced and need to get an apartment and furniture so that I can be able to see my kids on the weekends.Wife wiped out bank accounts prior to divorce and left me with nothing and ruined my credit. Just need a fresh start.

    Wednesday, June 26, 2013 at 5:13 am | Permalink
  32. brittany applied for the following loan:

    Purpose of Loan:

    Debt consolidation.

    Friday, July 5, 2013 at 9:54 pm | Permalink
  33. Valencia applied for the following loan:

    Purpose of Loan:

    I am in need for a loan due to relocation and other financial reasons. If I could set up an installment plan this would work out perfect.

    Monday, December 9, 2013 at 4:29 pm | Permalink
  34. Virginia applied for the following loan:

    Purpose of Loan:

    I just need to payoff payday loans and catch up on our bills catch up on our power bill and rent.

    Monday, March 10, 2014 at 9:22 am | Permalink
  35. patrick applied for the following loan:

    Purpose of Loan:

    I am going through a divorce, where she has left me in debt. While I was deployed she didn’t make payments on my car. She had taken small loans out in my name. I can’t obtain a loan because my credit score is to low. I am in need of this loan to get back on my feet.

    Wednesday, April 2, 2014 at 9:37 am | Permalink
  36. Troy applied for the following loan:

    Purpose of Loan:

    To pay off other loans

    Monday, April 7, 2014 at 4:19 am | Permalink

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