Short-term lenders use NCI to check out loan applicants before granting them a loan and then commission them to contact the borrower towards the end of the loan period to ensure they are in a position to pay their loan back.
NCI interviews potential borrowers before a loan is made, write a report on whether they are loan-worthy, collect documents directly from the borrower’s home and before the loan is due to be repaid NCI contacts the borrower to ensure that they are in a position to pay on the agreed date.
If they are not NCI visits the borrower to explore the options and if a loan then goes seriously into default, NCI represents the lender in court to recover the loan.
Adrian Bloomfield, chief executive of the ASTL, said: “We have had four associate members join just this year, proving the inherent value that many companies get by being affiliated with the ASTL and the short-term lending market.
“Each associate member in turn brings complimentary skills and makes a valuable contribution to the ASTL.”
And Dave Brewsher, senior manager at NCI, added: “We have strong working relationships with many of the lenders in the short term lending industry, so it makes sense for us to join the ASTL as an associate member.”
