Skip to main content

Debt Restructuring Rules and Guidelines for Customers Facing Financial Hardships

Debt restructuring rules

  • Contract rules:
      • Standard process: The current contract will be updated for another 13 years requiring signing again and will include a full term pagaré.
      • Exception: to have the new contract be just the remaining years of the current contract. Approved with written approval from a person with the Delegation of Authority corresponding to the total debt amount (suggest in RealSoftware Ops approval workflow but we can use email approval temporarily)
  • Restructuring rules:
      • Standard process: The debt will be shown as a downpayment and will include late fees interests (2% per owed month of fees for contract versions <3.5 and 3% for contract versions 3.5) and interest for financing this downpayment (additional 1.5% per month of financing). The down payment can be split into 3, 6, 9, 12 payments
      • Exception: we can finance the debt over up to 24 months OR the remaining term of the contract with written approval from a person with the Delegation of Authority corresponding to the total debt amount (suggest in RealSoftware Ops approval workflow but we can use email approval temporarily)

Debt restructuring for customers that will keep a valid solar contract with Bright

  1. CE billing agents, collection office, or litigator firm contact clients identify a customer going through financial hardships and offer to restructure the debt.
  2. If customer is in collection office portfolio they should becollect directed1 payment of at least 1 monthly fee from the customer as evidence of their good will to solve the challenge, and then hand over the customer back to the Bright billing team.
  3. The CE Billing Agent will negotiate with customer in a call following the rules as outlined above
  4. CE Billing agent gathers customer verbal acceptance in a ticket.
  5. CE Billing agent requests Approval analyst for an updated proposal by:
    1. Defining the amount to finance, including late fees (2% interest per month) by:
      1. Login in toIn the lead billingcontract page
        2. section,
      2. Selectingselect ALL the late fees (which will generate a screenshot showing the total amount of the late fees, and the overdue payment interest), sample below:
        Screen Shot 2022-04-28 at 18.18.42.png
        Screen Shot 2022-04-28 at 18.21.21.png
    2. CreateSend aan Zendeskemail sub-ticket called Debt restructuring proposal forthe approvals usingmanager Proposalfollowing the template below (to be moved to debtan restructuringOps -checklist for approvals macroitem in Zendesk,Q1 which includes2023):

      • Request: Debt restructuring contract with a full term pagaré

      • Customer: CXXXXCHARLIE (withPEGA link)

        ACA
        • EL
      • Pagare required: YES

      • Amount owed (monthly fees): $xyz MXN

      • Amount owed (late fee interest): $xyz MXN

      • Total Downpayment/extra cost amount to be added to contract: $xyz MXN (note this should be a sum of previous 2 items)

      • Screenshot of Ops Software calculation of debt and interest amounts: (Attach a screenshot of the downpayment calculated through Ops software).

        • Screen Shot 2022-04-28 at 18.21.54.png
      • Downpayment financing months (3,6,9 OR 12 months):
      • Monthly Fee required: XYZ

      • Extra comments: (i.e. this proposal should consider the same monthly fee that the customer currently has (which should consider the escalators that have already been applied))
        TEMPLATE

  6. Approval analysts generates an extra cost proposal with a pagare following the extra cost proposal process 
  7. CE Billing agent collects signature from customer on new contract and pagare through hello-sign following this wiki and  using the below template to send the contract to sign

  8. CE Billing agent sends the signed new contract to approval analyst through Zendesk subticket.

  9. Approval analyst updates the contract on software and notifies CE Billing

Email template to send debt refinancing contracts to customers that will keep a solar contract with Bright

Title: CNUM - Nuevo contrato Bright para firmar

¡Hola Maria del Pilar Lopez Peña! Te adjunto tu nuevo contrato para firmar. Los puntos claves son:
 Tu pago previo con Bright: $1,935 MXN pago base mensual
 Tu nuevo pago con Bright: $1935 MXN pago base mensual + $1200 MXN downpayment durante los primeros 12 meses del contrato.
Tamaño de tu sistema actual: 10 paneles / 3700 W
¿Tu sistema cambiará de tamaño?: NO
El motivo del cambio: Reestructura de deuda
¡Gracias por generar energía limpia con nosotros!

 

Debt restructuring for customers that no longer have a valid solar contract with Bright and their system was decommissioned

  1. After a system is decommissioned, but the customer still has outstanding debt. CE billing agents, collection office, or litigator firm contact clients to agree on the payment conditions for the debt.
  2. If customer is in collection office portfolio they should be directed to the Bright billing team.
  3. If the billing agent identifies the customer going through financial hardships but is willing to pay the debt, they can offer to restructure it.
  4. We can offer a plan that meets the customer needs, and the payment plan can be as long as the customer requires it as long as:
    • The customer signs a pagare for the total amount of the payment plan with included owed amount and interest
    • The monthly fees of the payment plan are calculated considering an interest rate of 15% for Residential projects, and 18% for Commercial and Industrial ones
  5. To calculate the monthly fee amount of the payment plan, the billing agent must provide the number of months of the payment plan, and the total outstanding debt (considering outstanding late fees) to the the billing manager
  6. The billing manager will use the PMT formula in a gsheet to calculate the monthly fee the customer will need to pay
  7. The billing agent will ask the approval teams for a pagare
  8. The billing agent will get a signature from the customer on the pagare and will store it in Ops
  9. The billing agent will manually create the payment plan for the customer on the billing ops platform and will mark the lead as decommissioned
  10. The billing manager will audit the contract and payment plan
  11. The billing agent will start charging the payment to the customer
Back to top