Welcome to Session Four

Having built up your knowledge and understanding of the negotiation process you are now in a position to take action and start negotiations with your creditors.

This session will give you the tools to make contact with your creditors in a professional manner which will improve your confidence when you are negotiating with your creditors.

Session Objectives

By the end of this session you will have the essential tools to make contact with your creditors either by phone or letter. You will be able to send out appropriate letters to your creditors depending on your situation. You will also be able to communicate on the phone in a professional and effective manner.

Session Content

1. Negotiation Tips
2. Setting up Letter Templates
3. Making the initial contact with your creditors
4. Making an offer to your priority creditors
5. Making an offer to your secondary creditors
6. What to do if they don’t agree:
    a) To accept your offer
    b) To accept your offer following further contact
    c) To freeze interest or charges
7. What to do if you can’t afford to pay anything
8. What to do if your circumstances change:
    a) You want to pay more/less per month due to your situation
    b) You are on a review period which is due to expire
        I. You want to pay less/more due to changed circumstances
        II. You want to continue the existing agreement
9. Other situations

Resources Required

1. Audio Files
2. Headset
3. Pencil and paper

Time Required

Pre session reading: 2 hours

Activities: Depends on number of creditors and stage of situations. Allow 30 minutes for each call or letter.

Activities

• Activity: Setting up the Master Letter Template  (10 mins)
• Activity: Making the initial contact by phone/letter (30 mins)
• Activity: Making an offer to priority creditors by phone/letter (30 mins)
• Activity: Making an offer to secondary creditors by phone/letter (30 mins)
• Activity: What to do if a creditor doesn’t agree to accept my offer by phone/letter (30 mins)
• Activity: What to do if a creditor doesn’t agree to accept my offer (2) by phone/letter (30 mins)
• What to do if a creditor doesn’t agree to freeze interest or charges by phone/letter (30 mins)
• Activity: What to do if you can’t afford to pay anything by phone/letter (30 mins)
• Activity: You want to pay more/less to creditors by phone/letter (30 mins)
• Activity: Review Period has expired-You want to pay more/less due to changed circumstances by phone/letter (30 mins)
• Activity: Requesting an extension of the review period by phone/letter (30 mins)

Pre-session Reading

Masterclass Four: Negotiation Toolkit  (2 hours)