Why underwriters look closely at debt repayment
Payment plans
Scheduled payments fail when balances run low, and every failed card payment or ACH return counts against you.
Collecting for others
Collecting for a lender or creditor raises agency and licensing questions.
Unauthorized claims
Consumers who dispute a debt sometimes dispute the payment too.
A payment setup that fits
How we usually set up debt repayment and loan servicing companies. Your consultant tailors it to how you actually sell.
- 1
ACH with careful retries
Nacha rules allow a payment returned for insufficient funds to be retried no more than twice. We help you time retries around paydays.
- 2
Card updater
Keeps autopay working when cards are reissued.
- 3
A reminder before each debit
Notice before every scheduled payment cuts returns and disputes.
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
- Payment authorization forms or recordings
- Licenses required for your lending or servicing
- A sample payment-plan agreement
Why applications get declined, and how to avoid it
- No written authorization for recurring debits
- High rates of unauthorized ACH returns
- Lending or servicing without the required licenses
We review your website, policies and statements against these before anything is submitted.
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.
- Send a reminder before every debit
- Retry failed payments only as often as the rules allow
- Make it easy for consumers to change payment dates
Debt repayment: common questions
How often can we retry a failed ACH payment?
For insufficient or uncollected funds, twice after the original return, within 180 days of the original date. Beyond that you need new authorization.
What ACH return rate is a problem?
Nacha monitors unauthorized returns above 0.5%, administrative returns above 3% and all returns above 15%. Banks often act before you reach those. We watch your rates for you.
Can we take card payments on a plan too?
Yes. Many servicers offer both and let consumers choose.
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.