If you put yourself in the lender's shoes, you'll find much easier sledding. Begin by asking yourself, "What is it that I would want to see from an individual prior to loaning that individual money?" In most cases, the lender will have never met the applicant, and must rely entirely on the documents submitted for review to make a determination as to whether that individual is worthy of the loan settlement they seek.
Of course, the application is a critical component in obtaining your loan settlement! Frequently, individuals submit partially-completed applications, and contact us asking why they have not obtained the loan settlement requested. In reality, if you're not willing to complete a one-page application, it is unlikely that you're serious about obtaining the funding that you identify.
You need to grab the lender's attention right out of the gate! If you're able to do so quickly, your application will be well on its way to being processed and funded. However, if you fail to do so, you greatly minimize the likelihood of success in obtaining the loan settlement that you seek. The lender wants to approve your request, but must submit your claim to underwriters for approval. Those underwriters will scrutinize your claim very carefully prior to issuing non-recourse funding.
I've included two examples for your review. As you review the two examples, ask yourself which, if either, of these applicants would you fund.
In the first case, an applicant informed us of the following: "I was at a Goodwill store, sorting through the clothes when a coat hanger jumped out and smacked me on the bridge of my nose."
The second case deals with the motorcycle incident. The applicant informed us, "I was on a motorcycle. The car driver was traveling in the opposite direction and turned left in front of me. The car driver was cited for failure to yield."
The Goodwill Store incident-applicant received no funding. I'm certain that comes as no surprise. On the other hand, the motorcycle incident-applicant received substantial funding. Hopefully, these two examples demonstrate the need to submit meritorious claims when attempting to obtain loan settlements.
What is the lesson to be learned? Prior to submitting an application to obtain a loan settlement, ask yourself this question, "Would I loan money to such an applicant?" If you say no, the chances are that lenders would agree with you! - 30462
Of course, the application is a critical component in obtaining your loan settlement! Frequently, individuals submit partially-completed applications, and contact us asking why they have not obtained the loan settlement requested. In reality, if you're not willing to complete a one-page application, it is unlikely that you're serious about obtaining the funding that you identify.
You need to grab the lender's attention right out of the gate! If you're able to do so quickly, your application will be well on its way to being processed and funded. However, if you fail to do so, you greatly minimize the likelihood of success in obtaining the loan settlement that you seek. The lender wants to approve your request, but must submit your claim to underwriters for approval. Those underwriters will scrutinize your claim very carefully prior to issuing non-recourse funding.
I've included two examples for your review. As you review the two examples, ask yourself which, if either, of these applicants would you fund.
In the first case, an applicant informed us of the following: "I was at a Goodwill store, sorting through the clothes when a coat hanger jumped out and smacked me on the bridge of my nose."
The second case deals with the motorcycle incident. The applicant informed us, "I was on a motorcycle. The car driver was traveling in the opposite direction and turned left in front of me. The car driver was cited for failure to yield."
The Goodwill Store incident-applicant received no funding. I'm certain that comes as no surprise. On the other hand, the motorcycle incident-applicant received substantial funding. Hopefully, these two examples demonstrate the need to submit meritorious claims when attempting to obtain loan settlements.
What is the lesson to be learned? Prior to submitting an application to obtain a loan settlement, ask yourself this question, "Would I loan money to such an applicant?" If you say no, the chances are that lenders would agree with you! - 30462
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