Sometimes bad things happen to good people #1
It was a busy day. I was looking forward to a well earned lunch break.
The phone rang and I answered.
"Hello. Foxtail Home Loans, Barry speaking."
"Right..Barry is it?" Asked an abrupt male voice.
"Yes, It is." I replied, trying to sound upbeat.
"So you're the place to go when the banks says NO?" He asked.
"Yes!" I said. "We specialise in finding finance for people who find themselves in that situation".
"Okay" he replied. "But what if ALL the banks have said no?" By now it was apparent that this client was at his wits end and ready to throw in the towel.
"Maybe." I replied with some caution. "However it is not possible to give you a 100% guarantee without knowing anything about you. Can you give me a quick rundown of your situation."
We discussed his situation in detail. It was not a lot different to many of our clients.
? Self employed;
? 12month ABN;
? Young family;
? Significant credit damage;
? Lots of credit enquiries;
? Tax Debt;
? Trying to purchase a new home to fit his increasing numbers of dependents.
All common reasons why most lenders say "NO!"
In this case we were able to place the loan with a specialist lender and turn a skeptic ready to give up into a believer filled with hope and optimism.
In hindsight this scenario is one of the most common we are presented with. Some of our clients have been with us for over 12 years now. They actually move with our business through name changes, GFCs and other business evolution events. Most are now purchasing investment properties and financing new business ventures.
Just because a client has had a bad life experience, does not mean they are bad people or indeed a significant credit risk.
Sometimes bad things happen to good people.
Foxtail Home Loans - The place to go when the bank says "No!"
Local Mortgage and Finance Broker - Caloundra, Sunshine Coast QLD
9 年very true
Principal @ LAW
9 年Too true, everyone deserves an opportunity; they must be happy you could help them.
finance specialist
9 年Spot on Barry Nice job
Business Owner | Licensed Credit Reporting Expert | Mentor | Leader | Pilates Instructor | Mother
9 年Very true Barry.
Director, Environmentally Sustainable Technologies Aust Pty Ltd
9 年Barry, how very true. In my experience very few clients go looking for trouble. Maybe in an ideal world they should all be able to plan and build up reserves or take insurance to cover all circumstances, but that is often not being realistic. By offering alternative solutions you provide a service that will usually restore their self- belief and become an advocate for your business.