Are Your Clients Looking For A Debt Management Program?

If you are a mortgage broker, loan broker, IFA

, accountant, solicitor, IP, lettings agent, estate agent, payday loan provider, cash for gold broker or somebody that runs a finance-related business, do you offer solutions such as IVA or a debt management program to your clients if applicable? If not why not! Not only would you be offering your clients a fantastic debt-escape route which is in high demand in the current economic climate, but also you can make fantastic commissions too.

There may be many reasons why clients who approach businesses looking for a particular product may be turned away, but could benefit from being referred to a debt management UK company instead.

For instance, somebody who approaches a mortgage broker because he needs to consolidate all his debts by remortgaging may be told that his credit rating has meant the re-finance cannot go through, or there is little or no equity in the property preventing the deal completing. This would make an ideal debt solution lead as the client has already stated that he needs to consolidate debt and it has been established that his credit rating is poor.

Loan brokers may have similar experiences. People will approach loan providers, both main stream and subprime (eg payday lenders), with the intent of consolidating debt by taking out a bigger loan to clear all existing debts, with just one manageable repayment to pay. Unfortunately, adverse credit ratings, little or no assets or not enough income (to name a few) can all be reason enough for the loan to be rejected another commission down the drain if the client is not then referred on to a debt solutions provider.

There are many situations that the professionals named above may come across a debt solution lead without really thinking too much about it, it they are not currently working with a debt help company.

Lettings agents will often have tenants who default on their rental payments and chasing them for arrears can become an arduous task. Yet, it may be that the tenant is up to their eyeballs in debt and by referring them to a debt management uk company, a plan can be arranged to ease their monthly payments, making the rent now affordable. Win-win for the lettings agent, who gets his rental payments back up to date and receives a commission for the debt management referral.

Accountants will have books of clients who they will know are visibly struggling. Independent financial advisers will come across people who have fallen on hard times every now and then. And it has been reported that the majority of people cashing in their gold for cash are doing so to pay off debts.

Therefore, if you are in a financial-related industry, and you currently do not offer debt solutions such as IVA, a debt management program, bankruptcy, DRO, admin orders or whatever, you could be missing out on adding a very lucrative extra revenue stream that could make a huge difference to your businesss turnover during these hard times.

by: Kevin Fielder

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