CIT Offers Payment Protection Plan

CIT Group Inc., a global commercial and consumer finance company, has announced the launch of the CIT Payment Protection Plan, an optional debt protection program for its first-mortgage and consumer loan customers.Under the plan, customers faced with involuntary unemployment, family leave of absence, disability, or death of a co-borrower, would not have to pay the principal and interest portion of their monthly loan payment, up to a specific dollar amount, for up to six months. "The CIT Payment Protection Plan allows borrowers the ability to protect their credit during uncertain periods of their lives," said Paul Petrylak, president of CIT Insurance Services. "As one of a few financial institutions to offer debt protection to first-mortgage customers, the plan will offer temporary relief to our customers as they work to get back on their feet after a significant life event." The company can be found online at http://www.cit.com.