Three Keys To Quality Communications With Your Lender

August 15, 2006
By Keith Donald
www.cash-now-seller-financing.com

There are three keys a lender is concerned about when things go wrong.

I’m going to share with you three keys to effective communications with your lenders. It really doesn’t matter what you’re facing, these keys will go a long way towards improving your perception, character, current credit, and your future credit. One other major benefit is, according to my experiences, an improved quality of life.

Since there is so much emphasis on credit preservation and improvement, why do so many people have “problem credit”? OK, the obvious answer is they don’t pay their bills. It goes much deeper than that. I maintain it’s the quality of their communications in every facet of their life that needs improvement.

Be Proactive!

When your lender agreed to loan you money, it was based on conditions and circumstances that existed at that time. We all know that the only thing constant is “change”. When things invariably change in your life, you are the first one to understand what this change will mean to you.

If this change were going to also impact your ability to fulfill your financial commitment to the lender, it would be a very good idea to contact them and let them know. Lenders are very quick to notice a change in your payment behavior. They are not as understanding about why your behavior has changed, unless you tell them.

It is not so important that you have a problem, but how you handle your problem that matters. You see everyone has problems. That is what life is all about, our ability to face and overcome challenges. Your lender will definitely appreciate your proactive approach to dealing with your problem. Now for the second of the three keys.

Offer Solutions And Ask For Suggestions

When you contact your lender about your problems, you should also be prepared to offer suggestions that would help you to overcome your challenges. If you can’t think of any suggestions, simply ask them if they can offer any ideas that might be beneficial.

People that demonstrate a willingness to take responsibility for themselves and their current challenges, frequently get more help than they can imagine. There are many ways to solve problems. Remember the axiom, “two heads are better than one”?

This situation permits your problems and needs to be considered along with the lender’s problems and needs. When there is open, honest communications among the involved parties, you might be amazed at what can be accomplished.

Do What You Commit To Do

Once your situation has been evaluated, you may have several alternatives to consider. Although it may be difficult, this is the time to carefully consider the cause and effect of each alternative.

Be sure you are clear about the choices. If there are any questions, get them answered. Do not assume anything!

Before you make a decision, discuss the alternatives with trusted confidants. Hopefully, the confidants you choose can help you with a “point-counterpoint” discussion about the choices you have. Ultimately, it’s your choice.

Once your decision is made, you must do what you commit to do! You only get one chance with your lender, so make the most of it. This is the point where your life could get the lift it has needed. Doors open to you. Opportunities are abundant. You can do no wrong.

On the other hand, this may be the point when you have a street address in a refrigerator box under an interstate overpass.

Given a chance, these three keys will make a tremendous impact on your quality of life. Choose well.

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