Honesty Pays Off
May 15, 2008 · Print This Article
As mentioned here Provanta clients must have a financial hardship for us to work with them. When a client is forthcoming and presents us with detailed hardship, it very often pays off well. A client with a particularly serious hardship is always a bonus for negotiating.
For example, a Provanta client was out of work for a extended period of time, due to his donating a kidney to his daughter and living off credit cards. A Provanta negotiator presented his hardship with supporting documentation to a creditor and was able to settle an account that had a current balance of $13,067.00 for $2,456.00 or 18.80%.
The opposite is true of those clients who are not as forthcoming. A client that is less than honest with us at enrollment may see a higher settlement percentage. An example would be a client that has assets they did not tell us about such as real estate, or open lines of credit. Many times the creditor or agent will have access to more information about client, such as a current credit report. It very difficult to negotiate a good settlement for a client when it is discovered on the credit report that they just financed a new Hummer.
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[...] noreply@blogger.com (Professional Mortgage Group, Inc.) wrote an interesting post today onHere’s a quick excerptAn example would be a client that has assets they did not tell us about such as real estate, or open lines of credit. Many times the creditor or agent will have access to more information about client, such as a current credit report. … [...]