A Close Look at Debt Management with Southridge Capital
Debt management is a critical issue that every individual should be aware of to avoid any disputes with their lenders and creditors. Many people have found themselves in embarrassing situations as a result of failure to honor their debt obligations to their creditors. Hence, it has not been a new phenomenon in the industry. However, despite the commonness of the aspect, a lot of people continue to find themselves in the same quagmire. This has been as a result of lack of the relevant information and knowledge regarding the proper management of individual finances and debts among the members of the society. This information, however, should be availed to the customers of credit services by the service renders. This had not been the case until Southridge Capital was established in the year 1996.
According to crunchbase, When Stephen M. Hicks formed the company, he had come out of research that he had been conducting trying to figure out the fundamental principles behind the debt crisis. The findings of his research indicated that many individuals who got themselves in financial troubles as a result of debts had insufficient understanding of debt management. They lacked plans on how to utilize the borrowed funds as well as how to refund the money. Therefore, the victims ended up using the borrowed funds without a clear plan on how to ensure that they repay the loans. Other individuals landed in such troubles as a result of unviable projects in which they piped all their debt finances. Southridge Capital was formed to address all these issues that affected the everyday credit customer in the US.
The first initiative by Stephen M. Hicks was to develop some training programs for the loan customers at Southridge Capital. The clients were to be trained on the debt handling techniques that would never land them into troubles with the lending institutions. They were also trained on the fundamentals of loan application so that they could understand the essence of having the right purpose for taking up a loan. As a result, the customers are now more comfortable with their lenders because the disputes that occurred before have ceased. Visit bloomberg.com for more details.