| The Banking industry is Changing
The Banking industry is changing….
Some say for the better, many would say for the worse.
How are you prepared for the upcoming changes? Changes such as:
• The new “Bankruptcy Reform”
• Credit Card Minimums Doubling
• Lenders Tightening their guidelines.
BANKRUPTCY REFORM:
Bad News:
Bankruptcy laws have made it more difficult for consumers with debt problems to file bankruptcy. With the new Bankruptcy reform consumers have to adhere to strict guidelines requiring them to seek counseling through a Consumer Credit Service or someone licensed to provide the necessary state “Means Test”.
Consumers must also seek 3-6 months of debt counseling in order to meet the necessary requirements of their particular state.
Good News:
Consumers will be seeking alternatives to bankruptcy, in many cases consumers may be looking to utilize their home equity to get out of debt. This means a potential refinance for a Loan Officer or Mortgage Company tailoring their marketing to this sub-prime consumer.
NDC, is the debt negotiation company that can help you deal with your client’s creditor/collector issues as well as their Delinquent Debts!
CREDIT CARD MINIMUMS DOUBLING:
Bad News:
Credit Card companies are doubling their Minimum Payments. So far MBNA, Citibank, and Bank of America have announced they are doubling minimum monthly payments on credit card balances from 2% to 4%. Others are expected to follow in the same direction.
Good News:
More consumers will be looking to refinance or take out an equity loan to get out from under their debts. Some consumers may be able to maintain this type of increased payments, but what should happen if they have a few bad months and cannot meet these requirements.
This is where NDC can help! We can help these consumers get out of debt through Debt Negotiation, and to help you close the loan.
LENDERS TIGHTENING THEIR GUIDELINES
Bad News:
With the various changes occurring in the banking industry lenders are beginning to tighten their guidelines for mortgage loan funding. They are beginning to require more delinquent debts to be paid or brought current. In many of these cases consumers may not have the capability or the equity to pay these debts off.
No one really knows when these changes will take full affect, but wouldn’t you rather be prepared now, rather than later?
Good News
By utilizing our Debt Negotiation/Reduction services you can adhere to any of the changes in lender requirements.
This is where National Debt Consultants, Inc. (NDC) can help you deal with more of these arising issues and help you to continue closing as many loans as you were before, in many cases more.
NDC has been working with sub-prime mortgage companies and loan officers for over 3 years in helping them clear more of their consumer’s delinquent debts while dealing with their creditors & collectors.
In many cases, NDC can help you maximize the use of your client’s home equity under your lenders requirements and stipulations.
NDC IS HERE TO HELP YOU & YOUR CLIENTS
Whether you “Can” or "Cannot” write the loan, NDC may be able to help you.
If you have any questions about a file NDC Management will be more than happy to review the file with you.
Remember-NDC can help you and your clients regardless of their situation.
NDC offers the following services:
• Debt Negotiation
• Monthly Payment Programs (Non-CCC)
• Credit Restoration
• Ongoing Support & Education Programs / Materials
Close More Deals & Make More Money NOW!
Your Call
or
Referral
Could mean $100’s or $1,000’s in additional revenue for you.
*Call your sales rep. @ (888-883-3287 x1026) for more specifics & to discuss how we can help you “Close More Loans & Make More Money”
Tracey
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