What is the role of Loan Consultant

 

What is the role of Loan Consultant

Thus, the credit counselor acts as a link between the potential borrower and the credit department of the borrowing business or enterprise. Due to the fact that  the market is increasingly demanding a lot of information services, independent credit counselors, credit brokers, and credit consultants appeared in the market. This is a separate organization that can work independently or enter into agreements with banks. Cost of services is different for each individual case and depends on the type of credit and complexity of work with the client, but on average ranges from 1% to 5% of the loan. Brokers can completely relieve the borrower from visits to the bank, except the date of signing the contract. 

Due to continued expansion and rapid growth in lending in the  loan capital market a number of new banking professions evolved. Previously an employee of the credit department was a unique person who is involved with all matters when you make loans, but today it is easy to get lost in the names of existing professions: credit counselors, brokers, inspectors, loan officers, experts, managers, and collectors. Some of them are identical to each other, but all perform certain functions in the process of issuing loans and maintenance contracts. Uunfortunately, this profession is relatively new, and not all customers are aware of the existence of credit counselors.

Who is a credit counselor, and what benefits it can bring to the borrower  This is a specialist who helps people to orientate themselves in an endless sea of ​​credit products and make the procedure for processing the loan easier for both parties.  Comprehensible information - it's the main thing that is necessary for people wishing to arrange a loan.The task of loan counsellers does not include taking a positive or negative decision, checking the reliability of the borrower and does not include making of forecasts, keeps track of the timeliness of payment, etc. 

Credit counselors help borrowers:
 - save time that could be spent on independent study programs, thereby reducing the number of visits to the bank;
- learn about all possible interest, commissions and fees.
 - pick the best option of loan for each client individually, taking into account the wishes of his age, experience, financial capacity and other factors;
 - to fill out the necessary paperwork (application, data, reference);
 - deal with the documents after receiving a loan (with the agreement, payment schedule, etc.).

 Soon, perhaps no one should be surprised by the presence of a personal loan consultant (or broker). Same as for most people, it is no longer a novelty to use the services of a lawyer or a real-estator .To shift the burden of professionals to their problems and not worry about the result pleased everyone. Even if the cost of the services of such professionals is sometimes high, the saved amount of interest or fees may be more substantial. In addition, the belief that everything is done correctly and most profitable, gives the borrower peace of mind and allows you to fully enjoy purchased on credit means values. Sometimes, there is no comparison between doing it with or without loan consultant. Sometimes without a loan consultant the loan itself is not at all acquired.

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