 Posted: Sun Jul 11, 2004 2:10 pm Subject: DISCOVER FINANCIAL SERVICES |
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| Aliases ( ? ) | YARD CARD NOVUS SERVICES |
| Address ( ? ) | 1585 Broadway
New York
NY
10036 | | Phone ( ? ) | | | Fair share ( ? ) | | | Electronic Payment : | 2% | | Paper Check : | | | Late Fees ( ? ) | | | Interest rate ( ? ) | | | Re age ( ? ) | After 3 payments only the re-ageing of accounts is done by the company. | | Acceptable Payment ( ? ) | 2.09% of balance or $10.0 whichever is more is the minimum acceptable payment to be done by the debtor. | | Account Numbers ( ? ) | Account numbers of the company comprise of 16 digits beginning with 60110, 60112, 60113, 60119000,
60119003, 60119004, 60119005, 60119006, 60119007,
60119008, 60119009, 6011901, 6011902, 6011903,
6011904, 6011905, 6011906, 6011907, 6011908, 6011909,
601191, 601192, 601193, 601194, 601195, 601196, 601197,
601198 and 601199.`
| | Notes ( ? ) | Agencies that are accredited will receive 3.55% of the fair share. Non- accredited agencies
will receive 2% of the fair share.
The company do not accept faxes unless requested by Discover and/ or the account is
close to charge off. Their accounts charges off after 120 days of no payments
posted. They will also give a verbal acceptance, provided the account is close to
charging off.
An account that is reported as fraud or bankrupt is not eligible for acceptance on
the program.
*On Accepted Proposals, they will reduce clients interest rate any where from 6.99- -
>17.00%. Their accepted reduced interest rate will be based on their credit history
and their payment history with Discover.
Re- age occurs after receipt of the third payment, if eligible. Eligibility for re-age is
on an account- by- account basis. An account must also be 90 days or more past due
to be eligible for re- age.
If account was re- aged on the program and dropped, they are not eligible for
another re- age until five years from the date of last re- age.
They waive over- the- limit fees.
AS OF 3/ 9/ 01, BALANCE TRANSFER ACCOUNTS ARE NOW ACCEPTED ON THE
PROGRAM.
If the clients needs a due date to be changed we must call, not the client.
MILITARY PERSONNEL AND THE SOLDIERS AND SAILORS RELIEFE ACT.
- If as client is currently on the pro gram and is requesting further relief under the
above act, the client should forward a copy of their active duty order to Discover.
Upon receipt, if the client's APR is less than 5.9%, no changes will be made. If it is
higher, Discover will reduce it to 5.9%. Late fees and over- limit fees will be
waived - re- age will occur upon receipt of the third payment.
- If the request is from a new client, the agency should complete the paperwork
as normal and include a copy of their active duty papers, which should then be
forwarded to Discover.
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