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Follow on Google News | Shrinking Consumer Credit Impacts Bankruptcy FilersHow has the lack of available credit affected bankruptcy filers? Let's take a closer look at the impact it has had.
By: Bankruptcy Information Most of us watched the trends and developed some general responses based on what we'd seen happen with our clients: bankruptcy petitioners were likely to start getting new (albeit high-priced) -- For more information visit http://www.bankrupcy- Recently, the rules of the game have changed. Anecdotal evidence indicates that it's harder for many consumers in bankruptcy or post-bankruptcy to get automobile loans and other credit that used to be more accessible. And, of course, this is consistent with the state of the national economy and the shrinking availability of consumer credit across the board. It's much more difficult to pin down a norm or general rule to share with clients. That uncertainty may make it seem more difficult to respond to client concerns about credit, but in fact it's only the details that have changed. The bottom line remains the same: the client who is sitting in your office considering bankruptcy probably already has serious credit problems. Consumer credit isn't just shrinking for bankruptcy filers, but for all high-risk borrowers--and it's a near-certainty that your prospective client is already one of those. # # # We distribute bankruptcy information online through a network of websites, blogs, and newsletters. We hope this valuable information is shared. End
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