High risk

Debt consolidation merchant accounts

Regulated financial services with large monthly payments need careful underwriting and clear disclosures. We place debt consolidation companies with processors that knowingly accept them, then stay on the account with you after approval.

Why underwriters look closely at debt consolidation

Advance-fee rules

Under the FTC’s Telemarketing Sales Rule, debt relief services sold by phone can’t collect fees until a debt is actually settled or resolved.

State licensing

Many states license debt management and debt settlement companies.

Large monthly payments

Program payments are big and recurring, so failed payments and disputes add up quickly.

A payment setup that fits

How we usually set up debt consolidation companies. Your consultant tailors it to how you actually sell.

  1. 1

    ACH first

    Most programs collect by bank debit, with card as a backup, and watch returns closely.

  2. 2

    Client funds kept apart

    Money set aside for creditors held separately from your earned fees.

  3. 3

    Authorization for every plan

    Signed authorization covering amounts and dates, with notice before any change.

What you’ll need to apply

Have these ready and your application moves faster. Your consultant confirms the exact list for the processor you’re matched with.

  • Government ID for every owner with 25% or more
  • Voided business check or bank letter
  • Recent business bank statements
  • Recent processing statements, if you have taken cards before
  • Articles of incorporation and EIN letter
  • A website with clear pricing, refund, cancellation and contact details
  • State licenses for debt management or settlement
  • Client agreement and fee schedule
  • Payment authorization forms
  • Details of your account administrator, if you use one

Why applications get declined, and how to avoid it

  • Fees collected before any debt is resolved
  • No license in states where clients live
  • Guarantees of specific savings

We review your website, policies and statements against these before anything is submitted.

Get startedFor debt consolidation companies. Two minutes to start, and a consultant calls you back.
Get started

Keeping the account healthy after approval

Getting approved is half the job. These habits keep your account in good standing, and our platform tracks the numbers behind them for you.

  • Tie every fee to a settled or resolved debt
  • Confirm each payment date in writing
  • Review ACH returns every week
How our consulting after approval works See how we’d watch an account like yoursClick through the hub with sample data: the dispute ratios, approvals, fees and deposits we track for debt consolidation companies.Try the demo

Debt consolidation: common questions

Is a consolidation loan treated the same as debt settlement?

No. Lending, credit counseling and debt settlement are reviewed differently. Tell us exactly what you offer and we’ll match the right acquirer.

When can we charge our fee?

For debt relief sold by phone, after a debt is settled or resolved and the client has made a payment toward it. Have counsel confirm your model.

Can clients pay by card?

Many programs use ACH for monthly deposits and accept cards for fees. We’ll set up both if your model allows it.

What happens after I’m approved?

We keep working with you. Our platform gives you one view of every account, and we review your chargebacks, approval rate, fraud tools and fees with you so the account stays healthy and gets cheaper over time.

Related industries

Talk to a payments consultant

Tell us about your business. We’ll tell you which processor fits, what it should cost, and how we’ll keep it optimized after you’re approved.