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Credit reports could save brokers $18,000

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Australian Broker | 02 Mar 2011, 06:15 AM Agree 0
Brokers could earn $18,000 more per year through higher conversion rates if they use credit reporting services, Vedia Advantage claims
  • GregC | 02 Mar 2011, 01:32 PM Agree 0
    Great idea by Veda Advantage. The cost to be a member as more than doubled since last year. Even being an MFAA member were we are surposed to get a special deal. Still waiting for a reply to an email to both my Aggregator and MFAA about the big increase who both push to be a Member of Veda. 3 weeks have gone by and no answers given
  • There are other options. | 02 Mar 2011, 02:07 PM Agree 0
    While the article above was good it didn't identify that there are many ways to assist a client who may have a credit issue.

    Firstly run the scenario through the website www.brokerscenarios.com.au as there are many lending opportunities for clients with good and bad credit. You can do that 24/7 and get an immediate result. The website has the largest range of non bank and non-conforming products out there.

    You can also assist you client's by having their veda report cleaned up and a great site for that is www.badcreditfixed.com.au If your client is a compulsive bad payer who has no regard for credit responsibilities there may be no hope for them. However in many cases excessive enquiries, clearouts, payment defaults can be cleared.

    The bottom line for brokers is DON'T say no to a client before you've explored the options.
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