Call structure
Opening:
- Agent: “Hi, am I speaking with [Client Name]? How are you doing today?”
- Agent: “My name is [Agent Name], “I am a certified counselor with Harris and partners.”
Agent: “This call may be monitored and/or recorded for quality and training purposes.”
Reconfirmation of the lead:
- Agent: “I see here you have debts with …………………………………, is that correct?
- Agent: “Are these debts personal, joint, or co-signed?”
- If joint or co-signed: “Can you please provide the name and relation of the other person involved?”
Understanding the Client’s Challenges:
- Agent: what brings you here today to check debt relief options I mean what’s the challenge you are facing with these debts?
- Agent: are you behind on the payments or current?
Has any creditor started legal proceedings against you, like wage garnishment or a lien on your property?
Response should be concise, focused on understanding the client’s situation, and acknowledging the difficulties they are facing.
Company Information:
I have sent you an email to verify my company info so you have confidence that you are dealing with right firm and “Let me share a bit about Harris and Partners. We are licensed trustees with over 60 years of experience we are also regulated by Innovation Science and the economic development of Canada with 49 locations across country.
We do not provide a loan. Instead, we assist clients by analyzing their financial situations and providing options to help them become debt-free without any administration fees or hidden charges. Here’s how we can help: we consolidate all debts into a single monthly affordable payment
Debtor’s Income: Are you currently employed or self-employed? How often do you get paid, and how much do you take home after taxes | |
Other Income: Do you receive any other income, such as child support, employment insurance, or government benefits? |
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Non-declared income: Do you receive any income in the form of cash |
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Marital status : Are you married / single / common law | |
Spouse income : What’s the spouse’s income on a monthly basis after taxes | |
Total Income: HUSBAND+WIFE+OTHER INCOME+NON-DECLARED INCOME: | |
Dependent’s Do you have any dependents under the age of 18 (or anyone under who is still studying and not working)?” | |
Family Size: | |
DO YOU HAVE ANY Non-Discretionary Monthly Expenses ? CHILD SUPPORT PAYMENTS SPOUSAL SUPPORT PAYMENTS CHILD day CARE MEDICAL CONDITION EXPENSES FINES/PENALTIES IMPOSED BY COURT EXPENSES AS A CONDITION OF EMPLOYMENT DEBTS WHERE STAY HAS BEEN FILED BUSINESS RELATED EXPENSES | |
Prev CP or BK : Have you ever filed for bankruptcy or a consumer proposal in the past? If yes, when was it, and were you discharged?” | |
Vehicles : How many vehicle do you have registered under your name? | |
Recreational Vehicles : Do you have any Recreational Vehicles? (ATV, Trailers, mobile homes, boat, motor bikes etc.) | |
Investments: Do you have any savings or investments, such as RRSPs, TFSAs, or RESPs stocks, crypto, bonds, mutual funds etc.? Are they locked, or can you access them | |
Home Value: Do you own a house or rent? | House value |
Titles on Home: how many people on title of the house? 1, 2, 3 |
Which bank do you bank with :
- Agent: “I’ll now place your call on hold while I do some calculations to see which program suits you best.”
Agent: (After hold) “Thank you for your patience. Based on your situation, here are a few options…”
Program Qualification and Discussion:
- Discuss the various options available, including how creditors operate and what expectations they may have. Reconfirm any key details like income or mortgage payments where necessary.
Debt consolidation: it’s like taking loan and pay off the creditors with added interest,, interest rate will be between 20% to 40% which depends on your debt to income ratio. . In my opinion it’s like financial suicide cuase you will be in debt for more longer time and added interest but this is one of the options lets look at 2nd option
Credit counseling: here you will require to pay atleast 10% of the debt amount with current and expenses I do not think it will be manageable – give ex. If needed
BK : I do not recommend BK specially its high risk on credit I see better fit to your situation which is consumer proposal let me tell you more
Consumer Proposal Explanation:
- Agent: “With a consumer proposal, your total payback would be [Amount], with monthly payments of [Amount]. This program provides legal protection from creditors and can help you save for future goals, like buying a house or car. It’s a federally approved program with no interest for five years and offers an open term.”
- Explain the reduction in payback, how the client can complete it sooner, and provide examples.
- Agent: “We aim to finalize everything promptly if we receive the required documents on time.”
- Agent: “You won’t need to make any further payments to your creditors, and there will be no impact on your spouse or need for a co-signer.”
- Agent: “All debts included will be closed and canceled. Note that an R7 credit rating will appear on your credit report, which means you’re paying through a special arrangement. This will be removed three years after your last payment.”
- Agent: “We can also provide a secured credit card if needed to help rebuild your credit score.”
Bank Change:
Agent: “If you’re banking with a creditor, you might need to change banks. Do you have any auto debits set up with your current bank?”
Helpful Pointers
Bank’s rights – The reason is something called the lender’s right of offset which allows banks and credit unions the right to offset your debt by automatically, at their discretion, withdrawing money from other accounts you have on deposit with them.
When the bank receives notice of your consumer proposal, or bankruptcy, they have the right to offset the money that was in your bank account as of the day you filed against any debt you owe them. If you have a loan, credit card or line of credit with the same bank you have a bank account with, they have the right to do this. They can also put a freeze on your money so you can’t take any money out of your bank account. Do you still love your bank now?
What Your Bank Can Do Against You
During your application our company will talk to your creditors as your representative. If you owe money to your bank, then they will also be notified. In their alarm, some banks may choose to freeze your account and use it to pay off some of your debt.
They often do this without prior notification. In fact, many will realize that the bank has done so only when they try to withdraw money and find out that their access has been suspended. This can a dangerous and desperate situation for anyone, but especially for those in serious debt. Apart from freezing your account, your banks can opt to just close the account, especially if they’ve cleared out all the cash. Opening an account in another bank before you even apply for this kind of application means that you safeguard yourself from this situation.\
Why Do You Need A New Bank Account? One of the first things we ask when you begin exploring the option of filing bankruptcy or a consumer proposal is if you owe money where you bank. If the answer is yes, then we strongly recommend that you open a new bank account, with a bank you don’t owe any money to. Why do we tell you to do that?
The reason is something called the lender’s right of offset which allows banks and credit unions the right to offset your debt by automatically, at their discretion, withdrawing money from other accounts you have on deposit with them.When the bank receives notice of your consumer proposal, or bankruptcy, they have the right to offset the money that was in your bank account as of the day you filed against any debt you owe them. If you have a loan, credit card or line of credit with the same bank you have a bank account with, they have the right to do this. They can also put a freeze on your money so you can’t take any money out of your bank account. Do you still love your bank now?
· There is a stay of proceedings when you file the consumer proposal or bankruptcy (meaning the bank can’t take any future funds), but in the meantime you don’t have use of your account until the bank takes the freeze off. This can take days or even weeks.
· Even if you don’t bank where you owe money, it may still be best to open a new bank account. If you have set up all of your creditor payments on pre-authorized payment or post-dated cheques it will be quite expensive and time consuming to put stop payments on all of the payments. Talk to your bank about the best way to deal with all of the payments. They might suggest stop payments, or they might suggest that they give you another bank account number.
What if I have a mortgage where I bank? You can have a mortgage payment come out of whatever bank account you want, it doesn’t have to be at an account where your mortgage is held. Even if this is the only debt you have with the bank, it is still a good idea to go to a different bank. It just makes things cleaner & easier and avoids potential problems down the road.
Agent: “I just sent you an email with an agreement. It outlines that our trustees will work on your behalf with your creditors. Let me know when you see it, and we can go over it together.” While taking agreement signed agent should also take the required PA information
and question the client about available documents like ID, paystubs, loan statement etc. as well create urgency for documentation
E.g We can finalize the file in 24 to 48 hours, no upfront charges and trustee meeting can be set up within few working days as long as we have all docs
Agent could also ask when is the next creditors payment coming and try to use as leverage to expedite the process
Document Signing: Once we send the agreement, the client will need to click on “View Document.” They may either receive the PDF directly or be given the option to select a language and get started. The PDF will then open with two signature boxes where the client will enter their legal name and click the “Sign” button. After that, the system will prompt the client to choose the form of signatures and take two signatures on the agreement. – finish