We’re just about to do our first wrap, and I’ve been having those negative thoughts that tend to stop us really ever achieving anything…the ‘what ifs’. I am hoping that someone out there can put my mind at ease a bit.
1. Regarding the Privacy Act, is there a form that we have to sign stating that we will keep all information private or have signed by the client? Or, is compliance simply a matter of keeping all confidential information safe and private?
2. Supposing a client simply vanishes and hence stops making repayments, is there any insurance that can be taken out to counter this risk?
3. Is it too subjective to simply ask the question, “Can they afford the repayments?” when qualifying potential clients. Really, all we are planning on doing is checking credit and insurance files, phoning landlord and employer, checking last 3 bank slips and payslips, and asking them questions about their income, dependants etc. Should we have more concrete criteria?
By the way, I have appointments to meet with lawyer, accountants, insurance brokers, mortgage brokers this week. But, I would like to have thought about all of these issue before meeting with them all.
Any help would be greatly appreciated!!
Greg
Greg,
you have email……
Pelican
I’d love to know what your response was to these questions, as I am in the same position and would like the answer as well.
Any help you could give would be appreciated.
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