Step by step ways to help borrowers.
Help borrowers feel better and more in control of their situation!
- Be sure to get clients full contact information and ask them to tell you their story with respect to the issue they are calling you about.
- Get the list of all related loans (all predatory loan products)
- Ask for contracts, billing statements, and any written communication from the lender.
- If the borrower is still paying on an internet loan:
- Give them “permission” to stop paying on the loan.
- Tell the lender they are revoking their authority to debit your account—this can be done by email
- Tell their bank they have revoked their authority–See sample letters to use when stopping a lender from taking automatic payments.
- DO NOT let the bank tell you that you must pay a fee for a Stop Payment Order. You are revoking authority to debit NOT issuing a stop payment order.
- Tell them to call you if they run into any problems with this.
- Get copies of the borrowers’ credit reports, all of them. and Dispute any Negative information (or information period) from Internet Lenders whose practices are void in your state.