Debt Management - Gain Financial Freedom
The Debt Management Process
The process of providing a Debt Solutions product
What is the Debt Management Process?
- Arrange meeting with the client
- Request you prepare and have documentation ready
- Complete Debt Solutions fact find and other documentation
- Identify client needs
- Advise and agree best way forward (could be re-mortgage, secured loan or debt solutions)
- Identify any shortfalls in protection
- Obtain opportunity to quote on existing protection and building and contents (can only proceed with protectionsales if premium is less than currently paying)
- Submit proposal document with fact find, documents and recommendation to PTDS
- Provide copy of arrangement contract and explain fee
- Cancellation notice
What will North Mortgages do to help manage your Debt?
- North Mortgages communicate with creditors and agree reduced monthly payment
- Write to you with agreed offer and agreement for client to sign
- Documents returned and Debt Management plan commences
- First payment 14 days after commencement
- First payment is fee
