Debt Collection Payment Processing Provider
Attention Startups! As of 2017 We now have more banks available that are open to underwriting newly formed companies. Must have at least some experience in the industry. Please contact us as soon as possible. There are very few banks or solutions out there that can handle or are friendly towards this high risk industry. Most payment processing companies will not go near collection merchant account companies. They fear that the clients of these companies already have poor credit and having issues with credit cards, debit cards and the ability to pay their bills. This can result in their clients issuing chargebacks which then results in the collection agency having its payment processing account placed on hold. Advantage processors can place both new debt repair companies, collection agencies, debt consolidation and established businesses. We can also help you set up a backup merchant account just in case your current provider bank decides to drop you without notice. This frequently happens where banks decide to drop all merchants in a particular industry. If you are a high-volume accounts recover a company You May Also Have capped volume issues and need to split your transaction processing between multiple solutions.Enjoy the Following:
- Best rates possible taking Visa and MasterCard
- Multiple underwriting banks available.
- Ach and check by phone / check drafting processing
- New Debt Collections Business / Startups with no history OK
- We work with merchants shut off by other banks
- Free rate comparison for your existing provider
- Merchant rates for Debt Collection are approximately in the 2 to 4% range offshore solutions however are higher.
- A billing payment solution that is friendly towards your company
- Invoicing and customer management
- Integration with your client tracking software
Industries We Support Include:
- Health Care Medical Debts and Loan Repayment
- Personal and Commercial Companies
- Repayment of Real Estate, Student or Mortgage Debts
- First Party and Third Party Agencies
- Bad Check Recovery / NSF Recovery
- Retail Debt Repayment like Gym Memberships and Balances Owed, Auto Lenders, Small Businesses
To set up your merchant account for collection agencies, you are going to need to gather documentation about your business. If you are already processing get your statements together so that we can review your rates and history. We will also need your incorporation papers your website if you have one and a business banking account where we will place your deposits. If you have contracts and terms and conditions the underwriter they need to see them also. To get started you can call us and get the process started or you can fill out this web form.