All the client’s debts must be logged in the Debt Schedule.

 

 

Do add a new debt item, click the Add new debt item button to add a new debt to the debt schedule.

 

 

Clicking this button will open the following form for you to complete about the debt.

 

Complete all relevant fields making sure to fill in all *Required fields

 

 

 

 


 

 

The fields explained

 

Creditor name: This is the name of the person, company, organisation or agency the debt is owed to. When you type into this field, Client Voices will offer suggestions from a database of existing creditors. You can choose from the list by clicking the suggestion, or you can just ignore the suggestion.

 

 

 

Description: This is where you describe what the debt is for. For example, if it’s a Hire Purchase, name the product purchased. 

 

 

 

Debt amount: This is the total amount owed to the creditor. 

 

 

 

Arrears: This is the portion of the total Debt amount that is in arrears. Arrears is money that is owed and should have been paid earlier.

 

 

 

Repayment rates: This is the frequency and amount that the debt is being paid. This field is important because Client Voices will add the debt to the Budget Worksheet according to this payment frequency. The example of the image would have the client paying at $20 per week.

 

 

 

Type of creditor: This is important for reporting on the types of companies and agencies your client owes money to.

 

 

Loan type: If the Creditor type is a Bank or Finance Company, Client Voices will ask for the loan type. This data helps your service understand the types of loans people in your community are getting. These are shown in the image below.

 

 

 

Is the loan secured: This is where you label whether the loan is secure or unsecured. There is also a don’t know option.

 

 

 

Customer reference number: When negotiating with creditors it is helpful to have the customer number or client number on hand. This field is for your convenience and not used in any reporting or anywhere else.

 

 

Creditor phone number: Like the above, this field is simply for your convenience.

 

 

 

Is debt with debt collection agency: This is where you mark whether the debt is with a debt collection agency. It’s useful for you and your client o know, but also for your service to get some idea of the impact of debt collection on your clients.

 

 

 

Interest rate: The purpose of this field is for you and the client to be clear on the interest rate of the contract where there is one. It also helps your service report on how interest rates affect your client’s financial situation.

 

 

 

Notes: All debt related notes can be recorded here if you wish.

 

 

 

When you’ve completed the form, click the Save button.

 

Your debt is now in the Debt Schedule.

 

It will also appear in the Budget Worksheet according to the Payment Frequency.