CreditServices, first financial franchise network, continues to promote the creation of new products of capital that are adapted to the current needs of the users and benefit the entire network of centers of intermediation. Why has created Credit Repair Services (CRS) financial tool which aims to renegotiate an important monetary removes of the client with the banks and previous financial, in such a way that by lowering the debt gets more opportunities to refinance the total. Whereas before the crisis the ideal solution for those heavily indebted people was refinance all your debts into one with one larger mortgage recapitalizing even up to 100% of the House, currently this product is difficult to achieve given the fall in the price of housing and the increasing demands of income by banks after the collapse of the market. To solve this problem, from the United States, have brought this product allowing you to renegotiate an important removes with banks and previous financial, in such a way that by lowering the debt gets more opportunities of refinance the debt total. So far if the client did not have additional warranties not be could refinance operation, but with the CRS CreditServices lawyers agreed with the banks takes away important until that total debt is exactly the amount to refinance by the new Bank, explains Javier Lopez, President of CreditServices.
Most financial institutions prefer less charge and settle the debt to wait several years for that justice would reason, since often not available already properties in order to cover it and you could lose entirely even borrowed principal. This is also applicable to banks and who prefer to collect less amount today mortgages granted in non-payment have to execute the guarantees, since it is a process slow, expensive and which generates an image of very negative mark for the entity. The CRS is helping lower bad debt in the financial system and to many families and businesses to get to end of month and regularize their current situation.