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Credit Counseling Reminders
IMPORTANT!
It is very important
that you read and fully understand the following issues. If you have
any questions or concerns, please call the Client Services Department
and they will be happy to assist you.
1.) PLEASE REMEMBER,
now that you are on the program, if any creditors call you, have them
call our Client Services Department at (877) 606-6144 between 9AM-6PM
EST Monday through Friday. If the creditor wishes for us to call
them, you must call our Client Services Department and let them know.
If you have any questions regarding your account, please call the
Client Services Department.
2.) PLEASE REMEMBER,
all payments must be made by cashier's check, certified bank
check, or money order and your name, social security number and address
must be clearly written on every payment. This will ensure prompt
processing of your payment. We cannot accept personal checks. Any
personal checks received will be returned.
3.) PLEASE REMEMBER
that we cannot accept any partial payments unless you call customer
service FIRST. If you cannot afford to send a full payment, do not
send a partial payment without calling customer service for approval.
Partial payments create tremendous problems in the accounting department
and will be returned to you if you do not get prior approval.
4.) PLEASE REMEMBER
that the negotiation process with your creditors takes approximately
20-30 days to complete. The negotiation period is necessary
because it will ensure that your money is being applied at the more
favorable rates that we attain for you. IF AT ALL POSSIBLE, WE
ENCOURAGE YOU TO MAKE PAYMENTS TO YOUR CREDITORS DURING THE NEGOTIATION
PERIOD. We have already processed your account and have sent
proposals to the Consumer Credit Counseling, Specialty, or Customer
Service departments at each of the credit establishments that we are
handling for you. The proposals will indicate to the creditor what
payment amount they should expect monthly and when they can expect
to receive the payment. The Consumer Credit Counseling department
will handle negotiations with us and they will also determine what
benefits you will receive through our program. When the terms of the
program have been agreed upon and payments are received, your creditors
will place your account in a specialty status and collection efforts
should cease.
5.) Keep in mind that
we do not send proposals to the Collection departments at your credit
establishments, so collectors may call during the negotiation period.
If a creditor contacts you during the negotiation period, DO NOT BE
ALARMED by their aggressive collection tactics. Simply refer them
to our Customer Services Department at (877) 606-6144.
6.) PLEASE REMEMBER
THAT THIS IS NOT A QUICK FIX. The negotiation process takes time to
complete. Please keep this in mind if your creditors call you demanding
a payment or they say they have not heard from us yet. The process
is in motion as you read this!
7.) PLEASE REMEMBER
that once the negotiation process is complete, your creditors
may request slight increases on the proposed payment in order to satisfy
their minimum requirements. These changes are most often the result
of balance adjustments (i.e., interest changes, late or over the limit
fees, finance charges, new purchases, etc.) REMEMBER, the proposed
payments were calculated based on the information you gave us on your
original application. A Client Services Representative will notify
you if this applies to you. You will also receive e-mails and/or letters
in the mail advising you or increase requests.
8.) PLEASE REMEMBER
to contact us if your situation improves and you are able to manage
a larger monthly payment. Larger payments to your creditors may improve
your credit rating and will reduce your debt more quickly.
9.) PLEASE REMEMBER,
if you enrolled in the "loan referral program" and you have
made your 6th on-time payment, your account will be
reviewed for loan referrals. Keep in mind that "on-time means
exactly that: not one day late, but on-time. Accounts
will only be reviewed if a written request is received from you. A
loan application will be mailed to you if, and only if, all
six payments were received by Visual Credit Counseling on or before
your due date. If any of your payments were received late,
you will become ineligible for the loan referral. However, if a loan
referral is not possible, you are welcomed and encouraged to continue
the program. Please remember to continue making your monthly payments
to Visual Credit Counseling during the evaluation period.
IMPORTANT!
We have already started
the initial negotiations with your creditors and proposals have been
mailed to each of them. As we discussed, your file and account information
have been forwarded to the Customer Service Department. From this
point on they will handle all of the final negotiations on your accounts,
all of your future incoming payments, and all of the disbursements
to your creditors.
If you have any questions
regarding the program, or if you have any problems with your creditors,
please direct all of your calls to the Client Services Department.
They will be more than happy to assist you and they now have all the
information regarding your accounts. Please do not call your original
counselor with any questions or concerns regarding your account, as
they no longer have access to that information. The Client Services
Department phone number is: (877) 606-6144
Please be sure to send
your second payment and any future payments directly to Visual Credit
Counseling, Inc. Payment Processing Center. Our address is:
VISUAL CREDIT COUNSELING, INC.
PAYMENT PROCESSING CENTER
12850 MIDDLEBROOK RD., SUITE 460
GERMANTOWN, MD 20874
All future payments must
be in the form of a cashier's check, certified check, or money order,
made payable to: VISUAL CREDIT COUNSELING, INC.
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