With most people facing serious economic distress during the current public health crisis, their credit ratings are likely to fall further, worsening the situation. Arian Egbali, in an interview at FOX 5 Morning News with FOX 5 San Diego’s Shally Zomorodi, took the viewers through ways in which they can maintain their credit score. Arian Eghbali is the founder, president, and CEO of Enrich Financial, a multi-national company that offers credit repair, debt settlement management, and business credit repairs.
In the interview, Arian Eghbali observed that with the pandemic, many people have lost their jobs and businesses have scaled down their operations, with others closing down. This, according to the Enrich Financial CEO, has a serious impact on people’s financial outlook and more so, their capacity to finance their credit. “We are having a situation where people are likely to skip their loan repayment and default on their monthly repayment”, said Arian Eghbali, in response to the question of what is likely to happen as a result of the current pandemic and its restrictions.
With people laid off and little government help forthcoming, the situation may worsen. However, the credit specialist says that there is a ray of hope for those who are unable to make regular payments during this period. Arian Eghbali recommends communication with their banks, inform the lending institution of their difficulties and they will defer the payment. He adds that 95% of the banks they work with are offering different deferment programs where clients get a reprieve for a given period, helping them protect their credit score. “Do not allow your credit score to be affected; banks are willing to assist their customers; all you need to do is communicate with your bank”, said Arian Eghbali.
For businesses, Arian Eghbali recommends a change of strategy, where they can retain their employees using the concept he calls “multi-functional.” The credit repair specialist advises banks to change their marketing strategies to reach more people during the period.
“A lot of adjustments are required both at the personal and business levels,” said Arian Eghbali, while urging the use of different strategies to pull clients through this difficult period.
Enrich Financial is a credit repair firm founded by Arian Eghbali to deliver sound, professional credit repair services for customers that are faced with financial trouble. Serving Los Angeles, CA for many fruitful years, it is a proud member of the Valley Chamber of Commerce.
Arian Eghbali ~ CEO, MBA
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