Bankruptcy Marketing Helps Lenders In Extending Credit To Those With Good Credit History
Bankruptcy marketing is used to put together information on behalf of lenders regarding those who have at some point of time have gone bankrupt, which they may have done so to find relief from individual and even maybe from business legal responsibilities with regard to paying back their creditors. This is important because once a person files bankruptcy he or she cannot then repeat the action for another six years and thus it prevents them from taking more credit for a considerable period of time.
Look At Credit History
Furthermore, mortgage lenders as well as credit card companies look at a person's credit history prior to deciding to provide them with credit and if a person is found to have once filed for bankruptcy, he or she will not be considered as being creditworthy. It is thus necessary for debtors to make a connection with businesses who are engaged in providing financial assistance of a non-traditional type and it is only through bankruptcy marketing that such a connection can be made possible.
It is with the help of bankruptcy marketing that such lenders who give money in a non-traditional manner are able to find out exactly which potential customers are good for their business and which are not. If you want to get information on bankruptcy claims, these are available and it only requires looking through public records to find the required information.
Also, there are many companies that offer bankruptcy marketing services and their main way of gathering this information is to go to courthouses all across the US and along with state of the art technology can come up with the necessary data. Bankruptcy marketing is thus compiled by gathering information pertaining to Chapter Seven and Chapter Thirteen from many different local sources gathered from all parts of the US and this can be used to decide on how creditworthy an applicant is.
Besides people and companies that lend money, bankruptcy marketing is also of considerable use to marketers engaged in selling products on hire purchase terms. Using the credit history of the applicant who has once filed for bankruptcy, such companies and people who lend money can set the appropriate terms as well as rates of interest which is based on the credit history of the person's bankruptcy case, and it can go further by making it possible to assist the former bankrupt to recover the money and thus, even increase their sales.
Thus, bankruptcy marketing is of considerable use to many different kinds of companies including those that offer work from home opportunities, insurance policies and even credit rehabilitation.
