National Telephone Fails to Get Funds

National Telephone & Communications Inc., the troubled Irvine marketing company that resells long-distance phone service nationwide, has failed to secure a new line of credit from the lender it was in talks with, NTC’s parent company, Incomnet Inc., said Thursday.

Incomnet’s board of directors was set to meet Thursday to discuss the matter but postponed the session until today or Saturday, said Deni Richard, chief executive of Incomnet and NTC.

“We are looking at other credit options right now,” he said. “I’m positive that things will work out.”

NTC is in default on its credit lines from WorldCom Inc. and First Bank & Trust of Newport Beach. The two creditors have given NTC until today to line up an equity investment of at least $10 million--or phone services for NTC’s customers could be terminated, according to WorldCom staff.

WorldCom officials declined to comment further.