Ann: FXL - New Energy Tech Consumer Code, page-14

To even begin to understand how these complaints arise you need to have been in the collection side of the finance game. As an ex collection manager with a bank backed financier in the 60s to 80s I was amazed at how some clients would manage to convince the credit officer that they were an OK risk to finance or how the company selling the product to be financed would groom the client to complete an application which was convincing. All of our clients were thoroughly credit checked but we still ended up with fraudulent applications and about .2% bad credit. So as you say Tamz there will always be a few complaints because it does not matter how good your credit checking is or how good your credit assessing software or methodology is there will always be some complaints. Some will end up with the media who are not always in a position to fully understand how it happened. Financiers like bankers are restricted as to what they can say publicly as the credit information in their hands is confidential as far as the media are concerned. The public like to tar and feather financiers especially the collection side of the operation but I guarantee that if they were involved with it as long as I was you would have some empathy with the majority of collection staff - it is a tough game.