Introduce yourself and build rapport:
Begin by introducing yourself and asking the Client's name. Be friendly and empathetic to build trust and rapport.
Explain your services:
Emphasize that our service team has been in business since 2008 and has successfully assisted thousands of families save millions of dollars and we would love to do the same for them.
Inform the Client that our company offers DEBT RESOLUTION programs to help people get out of debt faster than just making minimum payments.
We also on average reduce the monthly payments to creditors by about 30%.
Ask the Client, did you know it can take you 10 or more years to pay off your debts if you just made the minimum payments?
Well, we have good news for you because people that qualify for our Debt Resolution programs generally get out of debt within 4 years while paying 25%-30% less in monthly payments.
“I will need to see if your Debt situation and financial situation is a good fit for the program.”
Confirm information and Complete Sales Questionaire:
Let the Client know that you need to ask a few questions to see if they can qualify for the Debt Resolution Program.
CRM
Begin by confirming correct spelling of their name.
Confirming best phone # to reach them.
Confirming their email address.
Confirming their mailing address.
Complete the Sales Questionnaire in the CRM.
Complete the Income and Expense sheet in the CRM to determine affordability
Complete Hardship info in CRM
AFTER THE SALES QUESTIONAIRE IS COMPLETE, identify if the client is in an ATTORNEY MODEL STATE (CRM will identify as Attorney Model)
If the client lives in ATTORNEY MODEL State, give the Client the following disclosure:
Based on the information you have provided so far; we have identified that you may be approved for a Debt resolution program offered by CountryWide Legal Group.
Must have consent to be solicited by a law firm!!!.
Would you like to hear more about this option?
CountryWide Legal Group is a national law firm that provides debt resolution services to clients that reside in your state. They have hired us to provide information about their program. Our job is to help you enroll in their program and the law firm and their team will handle everything else.
Identify the Debt problem and Hardship:
Does the Client have affordability issues?
Is the Client stuck in a minimum payment trap and has been carrying their debt balances for 3 years or more?
Does the Client see any chance of getting out of debt in the next 3-5 years making their current payments?
Identify which of the above Debt problems the Client is facing and repeat to the Client how these issues have a negative impact on them financially and that being stuck in these types of debt problems are a great reason to consider our program.
Review Credit Profile and Create a Proposal
Let the Client know that based on the information provided, they have been pre-approved for a Debt Resolution program and that you would like to put a proposal together to see how the program would benefit the client.
Let the Client know that you need to do a Credit Review which does not have an impact to their credit score.
“The purpose of the credit review is to find out which creditors we can include in the program and give you an estimated monthly deposit amount of funds that can be used to settle your debts.”
Once the credit is pulled review the creditors that can be enrolled with the Client.
Let Client know you will need to put them on hold for a few minutes to get a proposal approved.
You will then be able to prepare a program proposal. Once you are done with creating your proposal, review and discuss with the client. Identify total debt owed for the creditors being enrolled.
Ask the client: Are you aware if any of these creditors have recently filed a lawsuit against you for any of these accounts?
If they reply NO – proceed to: Explain Countywide Legal Group Section
If the reypy YES – Ask the client for the date they received the summons, if prior to enrollment: respond: okay that being the case, we do have to give you notice that CWLG’s litigation defense coverage does not include creditors’ lawsuits that you were served with prior to your enrollment in our program.
CWLG’s litigation defense coverage for this account is available, for an additional $500 and the coverage will go into effect as soon as you pay your first program deposit
If they reply YES, they would like to have litigation defense coverage for the account- confirm their choice in note section w/date of summons and forward legal docs to vendor! Proceed to Explain Country Wide Legal Group Section.
If they reply NO they do not want to pay for litigation defense coverage for the account - let the client know:
1)You can unenroll the account from the program; OR
2)You can choose to enroll it in the program but with the understanding that CWLG is not providing litigation defense coverage for this account and will only be able to represent you in settlement discussions only. They will not go to court on your behalf
Wait for client to make choice 1)unenroll or 2) leave it in w/no lit coverage. Confirm choice in note section. Proceed to Explain Country Legal Group Section.
EXPLAIN COUNTRYWIDE LEGAL GROUP!
Let’s talk about how this plan works and how Countrywide Legal Group is able to help people that are struggling with their credit cards and loans.
Countrywide Legal Group negotiates directly with your creditors to settle your debt,.
You will make one monthly program deposit into a FDIC insured bank account in your name, and you must approve each settlement before any payment is made to your creditors. Everything is included in your monthly program deposit including all fees. Countrywide does not collect a fee until you approve a settlement and begin paying your creditor. The attorney will review all settlements and may make recommendations, but the decision to settle an account is entirely yours.
In order for Countrywide Legal Group to settle your debt, you must stop using the accounts that you choose to enroll, andyou must voluntarily stop making any payments to the creditors. The program is designed to resolve your debt which may put you in a position to improve your credit score in time, but your score will be impacted due to missed payments before it gets better. The goal of our settlement program is to eliminate the debt in the shortest amount of time and for the lowest cost. Once you complete the program and reduce your debt you will be in a better position to rebuild your credit.
Quote the deposits and terms and explain to the Client how a debt resolution program benefits them since the deposits will be used to settle and reduce the balances owed.
In Summary, our Debt Resolution program will help you settle and payoff a total of _________ of debts with monthly program deposits of ___________ and we estimate that you will complete the program including all the service fees in ________months.
6. Go over important PROGRAM SUMMARY TERMS
Inform the Client that you will need to send them a set of enrollment documents that they need to sign. This can be done online via their phone or computer.
Inform the Client that you want to go over a summary of important terms about the program that they are going to see on the enrollment documents:
Ok, now let’s review some important terms about how our debt resolution program works.
You will be making monthly deposits to the program and those funds will be deposited in a FDIC insured special purpose savings bank account that is owned and controlled by you. As you are making deposits and saving money into this account, our negotiations team will begin negotiating with the creditors in the program and use the funds in this account to pay off the negotiated settlements. Each time a settlement agreement is reached with a creditor, our customer service team will contact you and ask for your approval to pay the settlement. This process is repeated until all the creditors in the program are negotiated and paid off. We estimate you will complete the program to settle and payoff all your creditors including our service fees within ______ months.
The service fees which are already included in the program is ____% of the balance to your creditors. This fee is only charged to you for creditors that are settled and approved to be paid by you.
For NON-ATTORNEY MODEL State clients, discuss the LEGAL ACCESS PLAN OPTION
Our Debt Resolution Program includes an Optional Legal Access Plan. With this plan, you will have a network attorney from the Legal Access plan represent you for the following benefits:
§ Stopping collection calls from enrolled creditors.
§ Dealing with difficult creditors or collection agencies.
§ Representation against legal actions by enrolled creditors.
It's important to note that the program deposit I quoted you already includes the cost of this legal access plan. You DO NOT need to pay any additional payments for this plan. As you make your program deposit each month, the fee for this plan will be deducted from it.
If you decide to opt out, that's absolutely fine. However, please be aware that without the Legal Access Plan, you will be responsible for handling any legal issues that may arise from your enrolled creditors. Additionally, you'll have to handle those bothersome collection calls on your own.
Most of our clients include this plan because without attorney representation, the creditors are a lot more aggressive in their collection efforts.
Can I include the Legal Access Plan for you? (YES or NO)
If NO:
Are you sure you don’t want an attorney to represent you as part of this program? The cost is minimal and already included in your program payments.
7. Send Enrollment Documents
Confirm email address to send the enrollment documents to with the Client. If a co-client exists, make sure to have a DIFFERENT email address to send contract to the co-client.
Set up the payment terms in the CRM:
What bank account do you want to pay your program payments from?
Get Bank routing and acct # and enter in CRM. If client does not have on hand, they can complete the bank info on the contract themselves; however, it is highly recommended you get the bank info prior to sending contract.
How would you like your program deposit schedule?
You can make monthly, biweekly (every 14 days) or Bi-Monthly (Paid twice per month on a fixed day of the month) deposits.
We need your first program deposit to be made no later than 30 days from today but the sooner the better to get your program started.
What date should we start the drafts? ______________
Send Contract to client.
It is best to ask the client if they can sign their agreement while you have them on the phone since they can do it on their phone and put you on speaker or on their computer.
8. Complete enrollment process
Once you receive the signed enrollment documents (CA clients – 3 day hold – Contracts will not be received by us for 3 days from date sent) review them to make sure they were signed properly.
GO OVER COMPLIANCE CALL QUESTIONS
Have the client do a Welcome compliance call to complete the enrollment process.