Tools to assist you with the recovery of outstanding debt in the U.S.
Payment21® works in collaboration with one of the leading contenders in today's collections industry. We have the tools and tactics to properly assist you with the recovery of outstanding debt in the USA.
When using our service, you, as a merchant, can spend more time concentrating on your business, while Payment21® concentrates on your collection process. You can securely submit delinquent accounts online to Payment21® and the collection process will begin immediately.
The consumer collections process begins with a letter, called a dunning notice. The Fair Debt Collection Practices Act/FDCPA (is a U.S. law which passed in 1978 to eliminate abusive practices in the collection of consumer debts) requires that we give consumers 30 days to dispute any account against which we have made a claim. Some consumers will contact us after receiving the first notice. They may dispute the amount or the terms. Following the dispute period, we begin a series of letters and telephone campaigns. All our efforts are geared towards making direct contact with the person responsible for paying back their debt.
If a consumer does not pay the outstanding balance on the account within 45 days, this delinquent account will be reported to the three U.S. major credit agencies: TransUnion, Equifax, and Experian. Accounts reported to these credit agencies will remain on a consumer's file for seven years from the date of delinquency. In our industry, compliance with all local, state and federal regulations is a top priority.
Payment21® is committed to following legal, ethical and professional practices. In addition to meeting all requirements of the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA), we also abide by the stringent requirements of the Health Insurance Portability and Accountability Act (HIPAA), the Gramm-Leach-Bliley Act, and various state licensing regulations.