Debt Resolution Overview
The Pros of Debt Resolution
What is Single, lower monthly payment, Eliminates entire debt in 3-5 years, Improves DTI, & The client will always pay less than the owed amount.
Having each other's back...
What is teamwork?
The minimum days out a new draft can be scheduled
What is 3 days?
Color that identifies phase one tasks
What is blue?
The aging process
What is the 4-6 months a creditor goes without a payment that causes them to be willing to settle for less than 100% of the balance owed?
Having a pedal to the medal mindset
What is being driven?
Active statuses Phase One clients be switched back to if they rescheduled their NSF
What is 1st payment pending & active phase one?
Ways we communicate with our clients
What is via email, text, client portal, phone?
Cons of Debt Resolution
What is Negative impact on credit score, 1099 for forgiven debt, Collection calls, & Possibility of a lawsuit?
To bend without breaking under pressure...
What is to be adaptable?
True or false: You must send ATDs for all rescheduled NSFs
What is false?
Location of the visualize portal tab.
What is on the notes tab?
Steps for the GRT Debt Resolution process.
What is client stops paying creditors directly, client funds escrow account, funds will build in escrow, GRT reaches out to settle an account, settlement is reached, client approves offer, payments start going to the creditor, GRT collects fee?
A way of life
What is accountability?
Tab used to add an extra payment
What is the Draft Changes tab?
Ways to tell a client is enrolled in the legal club.
What is the client will have a gray tag in their client information banner & you can click the pencil in the client's program calculator?
Clients must understand these things about their program
What is creditors won't settle on current accounts, funds must build in the escrow before we can negotiate, and settlements are usually term?
GRT Core Values
What are driven, caring, teamwork, accountability, attitude, and adaptable?
The tool used to update a client's draft frequency
What is the program calculator?
The location of portal messages sent from clients.
What is Notes > Portal Messages?