Partly Cloudy

Partly Cloudy

max temp: 16°C

min temp: 9°C

Search

The pigs are coming. Find out more about

Pigs Gone Wild

here.

Finance focus on the present – not the past

06:59 08 August 2014

Simon Gray, managing director of Credo Asset Finance.

Simon Gray, managing director of Credo Asset Finance.

supplied

Finance companies and banks are like elephants – they never forget, says Simon Gray, of Credo Asset Finance.

Every month we see credit searches where payment problems, going back three years or more, still result in finance companies declining credit for cars and vans.

Late payments, mortgage arrears, defaults, bankruptcy or a voluntary arrangement stay on your credit file for years and some automated credit systems will simply kick the deal out of touch without a human being ever seeing it.

Sometimes these are a result of genuine hardship, sickness, loss of work, businesses being left high and dry by large customers not paying. How long do you have to suffer for mistakes of the past?

Now you may be back on the straight and narrow, happily repaying mistakes of the past, and making or earning good money again but still banks and finance companies will not see past black marks.

At Credo we look at things differently. Yes, we look at the past but we take a greater view and opinion on the present. We look at how past credit issues are being sorted in the present. If someone has genuinely started to repay old creditors this should be seen as a positive. If they now run their bank accounts and credit impeccably why look at the past to make a decision? With careful consideration of current earnings, cash flow and affordability – and with good security in the asset we lend on – we can make flexible, sensible and informed decisions to help people from a dark past to a brighter future.

Most larger finance houses use automated credit systems to dictate credit policy but at Credo, where we lend to local businesses and individuals, we use old-fashioned gut feeling and read credit information in a different way to decide whether to lend or not.

We are not a sub-prime lender, we don’t want to lend to people who may not repay – all our customers are good ones. We are an old-fashioned, flexible lender where all the good practices of the past are brought to modern lending.

Credo Asset Finance is at 85 Yarmouth Road, Norwich, NR7 0HF. Phone 01603 703180, email sales@credoassetfinance.com, log on to the website at www.credoassetfinance.com

Twitter: @CredoFinance

Facebook: www.facebook.com/#!/CredoAssetFinance

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Ipswich Star visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Ipswich Star staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Ipswich Star account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Work is underway on The Buttermarket in Ipswich.

Jack Wills is preparing to open in the former Croydons store, work on the Primark extension is nearing completion and the transformation of the Buttermarket Shopping Centre is now in its final stage.

Ipswich Crown Court.

An Ipswich man with “an entrenched and disturbing interest” in sexually abusing females has been jailed for 12 years.

Services could move from Colchester General Hospital to Ipswich Hospital, or vice versa.

Services at Colchester and Ipswich hospitals could merge where there is “a clinical case to do so” – but neither hospital will close.

Car has collided with a tree on Bury Road, Newmarket.

The father of Suffolk County Council leader Colin Noble has died following a road crash.

Suffolk People First conference in Kesgrave

Giving people with learning disabilities a chance to speak up and be heard is the key goal of Suffolk People First, a meeting organised by Stowmarket-based Advocacy organisation Ace Anglia.

The EACH Colour Dash in Christchurch Park in Ipswich in 2015

Christchurch Park is set to get colourful this Sunday, with thousands of people descending on Ipswich town centre for East Anglia’s Children’s Hospice’s (EACH) Colour Dash.

The sign that has been put up in Through Jollys in Kesgrave, after a cat was killed from traffic

A Kesgrave cat owner whose pet was killed on one of the town’s busiest roads, after being hit by a car, has urged motorists to keep to the speed limit.

File photo dated 15-06-1996 of Paul Gascoigne celebrating his goal with Teddy Sheringham in the Euro 96 clash against Scotland, at Wembley. Photo: Neil Munns/PA Wire.

It may have ultimately ended in defeat to old rivals Germany but Euro ‘96 was far from being England’s worst footballing campaign.

Question Time was last in Ipswich in 2013.

Former Labour Party leader Ed Miliband – a leading campaigner in the campaign to stay in the EU – is among the guests expected at Ipswich Corn Exchange when Question Time comes to town tonight.

Hawthorn Drive, Ipswich

An empty former care home in Ipswich could be turned into 23 apartments and four bungalows, if planners give the scheme the green light.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24