New Methods
The VFA allows for the development of new methods for debt management and default prevention. Previously, the guarantor financing model was more focused on default collection. Approximately 60 percent of a loan guarantor’s revenue was generated from the collection of defaulted loans, with less than 10 percent coming from default prevention and zero percent coming from delinquency prevention. Under the VFA, focus shifted to proactive delinquency, which means to stop repayment problems before they begin.
Read more about this topic: Voluntary Flexible Agreement
Famous quotes containing the word methods:
“There are souls that are incurable and lost to the rest of society. Deprive them of one means of folly, they will invent ten thousand others. They will create subtler, wilder methods, methods that are absolutely DESPERATE. Nature herself is fundamentally antisocial, it is only by a usurpation of powers that the organized body of society opposes the natural inclination of humanity.”
—Antonin Artaud (1896–1948)
“All good conversation, manners, and action, come from a spontaneity which forgets usages, and makes the moment great. Nature hates calculators; her methods are saltatory and impulsive.”
—Ralph Waldo Emerson (1803–1882)