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Dealing with debt? EuroDebt holds the key for Brokers’ financial futures
EuroDebt helps leading Mortgage Broker target Prospects for
Debt Management Plans
London Financial Solutions (LFS), a leading mortgage broker operating in the
The EuroDebt Marketing Toolkit provides a range of marketing material templates that can be adapted by brokers to include their own branding and messages. These include direct mail leaflets and flyers, referral vouchers, local press advertising templates and wall posters.
Direct mail artwork created for LFS was produced for distribution to more than 5,000 prospective clients. As Claudia Suarez, Mortgage Adviser at LFS explains, this enabled the business to get the message out about debt management quickly and cost-effectively.
“Having access to ready made artwork meant we could promote Debt Management Services without delay. We signed up to the EuroDebt Introducer Scheme in June 2008 and wanted to get the message out to clients and prospective clients that debt management was a viable option worth considering. The ease of access to artwork that could be adapted to include our branding and contact details as well as our introducer ID was fantastic. It meant there was no delay in getting the campaign underway and we have already introduced a number of clients to EuroDebt as a direct result of this.
“I was particularly impressed with the range of advertising creatives available, suitable for both newspapers and magazines. And having a website tailored to our brand is enormously beneficial – giving prospective clients and easy way to access more information. The support from EuroDebt has been immense, helping us set up as an introducer and supporting our marketing activity.”
All materials produced by EuroDebt are made available to brokers via their EuroDebt Business Development Manager or the Introducer Marketing Support Helpline. For more examples of EuroDebt case studies visit:
www.EuroDebtIntroducers.com/100015
In today’s financially unstable climate, many people are turning to debt management as an alternative remedy for dealing with their financial woes. Could it be time for brokers to jump on the debt management bandwagon and save their clients from the sinking loan ship too? Brian Colegate, advisor for EuroDebt believes this is the way forward for dealing with debt.
Cast your mind back to a couple of years ago, when remortgaging against an unsecured loan was the norm and brokers were at their peak in the lending market. The cyclical nature of our economy has led to a new era for the financial world, the reign of the debt management company.
According to Brian, who has been working as an advisor for EuroDebt for six years, debt management is all about “looking at someone’s financial circumstances and determining what they can afford to pay back to their creditors, getting their situation under control. The other part is getting rid of their debt altogether.” EuroDebt advisors work with their clients to review their debt and personal circumstances in a thorough process and establish their expenditure to confirm legitimate cases.
So why should this benefit you as a broker? Brian claims that being the number one company in the UK for meeting with clients on a personal level, puts EuroDebt at an advantage to all other debt management companies. “It is a more personal service and clients substantiate that,” he says. “People welcome the opportunity to sit with an advisor, under no obligation, to see if we can help them.”
On top of this, the potential to earn competitive commission rates for referring clients to EuroDebt, as well as keeping clients on board with you as their broker all add to the long-term beneficial aspects of a debt management plan.
As introducing loans becomes even tougher and consumers tighten their belts to the limit we are likely to see more and more people not able to pay back their debts and potentially getting themselves into negative equity with no other liquid assets to cover the monthly shortfall between income and expenditure. Brian believes that there is a lot to gain as a broker getting involved in the EuroDebt Introducer Scheme. Though EuroDebt have been working with brokers for over 7 years, the scheme was formally launched in November 2007 and in that time has grown considerably with over 650 brokers now registered.
Due to the economic cycle, Brian agrees that the mortgage market will eventually recover and this will create opportunities for full & final settlements where the broker has the opportunity to arrange the finance to make this possible. The idea of earning commission, keeping clients and securing future revenue opportunities is surely all too alluring to brokers suffering from repercussions of the credit crunch, as many are already seeing this as their fiscal future to substitute their loss of earnings in recent months.
If you want to find out more about how EuroDebt can help you generate more income as a broker, or are interested in finding out more, click on the Find A Debt advisor section of the website or visit www.eurodebtintroducers.com.
Does Debt Money Really Count?
In May this year, onlyfinance.com published their report on the state of the personal finance industry in the UK; their surveys revealed only 14% of Britons are willing to admit their level of personal debt. Although this figure is startling, perhaps what would have been more relevant in the current financial climate would have been to discover the percentage of people in control of their personal debt. In the grips of the current credit crunch, the numbers of approved secured loans and investments have plummeted, with FirstPlus announcing this week that it was ceasing trading to new borrowers, as these loans are simply no longer producing the revenue to continue.
