This member submitted an personal loan application online to pay off a couple of high rate credit cards. I called him back because I had some follow up questions for him before submitting his app. and I noticed he had a considerable amount of debt in addition to those cards. I also saw he owned a home and had quite a bit of equity.
I was reviewing pending loan applications and came across one we lost due to the member going with another lender. I called to see if they would be interested in refinancing for a lower rate and/or payment, and assured them I could help speed up the process this time. They didn’t think it was possible to refinance because the loan was just recently funded with the other lender, but I told them, “We can make it possible!” With that, they agreed to continue with the application to refinance the auto loan.
A member called after receiving our auto loan promotion email – he had an auto loan he wanted to bring to us and refinance for a lower rate and payment. We started his application right away, and once I got the credit report pulled up for him and his wife, I saw they had a lot of credit card debt. I already knew they owned their home, and I wanted to see if we could help them out with a debt consolidation plan, so I suggested an equity loan to pay off some of those cards. He was very agreeable and said they had been discussing doing some type of debt consolidation for the cards, but they didn’t know where to start. Good thing that email prompted him to call us!