Combating Negative Industry News

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One important aspect of marketing and public relations is combating negative news in a client’s area of business. One of our clients, ModifyUtah, recently saw a negative news program about their industry – loan modification.

Sometimes bad stuff happens and a homeowner finds themselves on the brink of losing their home. When in such a pinch, noted consumer advocate, Clark Howard, recently reported the following options in order of damage to one’s credit score.

Least Damaging – Loan Modification
More Damaging – Short Sale
Even More Damaging – Foreclosure
Most Damaging – Bankruptcy

An unscrupulous loan modification business was recently highlighted on Get Gephardt, an investigative TV segment in Utah. This particular business took money up front to do a loan modification, then kept the money and never achieved the modification.

ModifyUtah felt that they needed to respond right away, since the story gave all loan modification companies a bad name, simply because of one bad seed.  They have previously taken many steps to ensure their business is honest and fair with customers, including offering a money-back guarantee, registering with the Utah Department of Real Estate, and more.

ModifyUtah VP of Finance Randy Chipman has some ideas about how to gain credibility in an industry with a bad reputation that will publish shortly over on the Utah Business Blog.

So, have you ever felt scammed by a business?  Take the poll below and let us know.

Have you ever felt scammed by a business?

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About the Author:

As founder of PilmerPR, John Pilmer, APR serves as a PR and marketing communications advisor for both emerging and established companies. He offers customers more than 20 years of results-driven business PR and marketing experience. John and the firm have provided PR consultation and campaigns for clients such as Mozy, Novell, AdvancedMD, Certiport, NextPage, ElectraTherm, Altiris, Avamar, EmergeCore Networks, FSLogic, INVISUS, 10x Marketing, MWI, Project Insight, REIC, Seastone, US Synthetic and Funding Universe (now Lendio), among others.

Comments

  1. Hardship Letter  January 13, 2010

    Wow so happy I stumbled upon this today. I’ve been looking for this type of information while preparing my hardship letter for my home loan modification. It’s somewhat of a daunting task and I want to make sure that everything I do on my end is correct.

    reply

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