Over the last two years, a tremendous number of formerly prime credit customers have been adversely affected by the shaky economic status of our country. You need not look any further than the United States’ average credit score, which is down almost 50 points from where it was only four years [...] Read more »
SIDEBAR: What Are Lenders Saying About BKs?
Having a lending partner that caters to the bankruptcy niche is critical to a special finance department’s success. In fact, many bankruptcy lending specialists not only survived the downturn, but they are coming on strong this year. They pulled it off by focusing less on credit scores and looking for stability [...] Read more »
Risk and Reward
Credit availability for subprime customers is still low, but the well is not dry. In fact, there are signs that special finance is making a comeback, with the bankruptcy niche leading the way. Finance sources with an established history in the bankruptcy segment know the payoff is worth the risk. They know those consumers will [...] Read more »
Subprime Auto Lending Leaves Intensive Care
By Steve Finlay WardsAuto.com, Dec 3 ORLANDO – Not yet out of the hospital, subprime auto financing at least has left the intensive-care unit. The credit crunch that hit in 2008 hurt virtually all levels of financing. Subprime suffered the most, making it tough for people with low credit scores to get car loans. But so-called special financing “is [...] Read more »
Tax season checklist – part 2
How do you market to clients with a big tax refund burning a hole in their pockets? How do you get to them before they mentally or physically spend the money? Well, there are several approaches that work well. One is to get their attention during the filing process itself. This can be done several ways. Signing [...] Read more »