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Credit Card: Contact is initiated within one day of the first failed payment attempt. If the payment is declined, we will attempt to process it three additional times. Please note that if the payment declines on the fourth attempt, we assess a $10$15.00 processing fee to the member.
Bank Draft (EFT): Contact is initiated immediately upon notification from the bank that the payment was returned. This is normally within 13-3 5 business days of the initial payment. We impose a $25 return payment fee to your member when a payment is returned by their bank.
Coupon/Billing Statement: Contact is initiated three days after the payment due date. Once an account reaches 61 days past due, no additional billing statements will be sent, however attempts to collect the payment will continue until the account is current or goes into Default.
NOTE: For repeated declines/returns, chargebacks, and for returns for reasons of "Stop Payment", "Invalid Information" and "Authorization Revoked", we stop drafting accounts until an alternative payment method is secured.
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How are fees assessed to my members?
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Late Fee: If a payment is not received within the grace period (default is 5 days) a late fee (default is $10.00) is assessed to the member's account. The late fee is designed to offset the additional costs of servicing delinquent accounts and to encourage members to pay on time.
Processing Fee: This fee of $10$15.00 is assessed to the member's account after four consecutive credit card declines within 5 business days.
Returned Fee: This fee of $25 is assessed to the member's account when a check or EFT payment is returned by the member's bank.
*If you use a membership agreement other than the one provided by Member Solutions, please provide a copy of your agreement for our records. Late fees cannot exceed $25 and grace periods cannot exceed 15 days. Please note that all fees collected are retained by Member Solutions.How often are my members contacted?
By letter/email: Members receive correspondence every 20 days while their account is delinquent; the longer the delinquency, the more aggressive the message. In addition to past-due notices, we send automated email alerts when a credit card nears expiration, declines or in the event of a returned check or EFT payment.
By phone: We attempt to contact your delinquent members up to 4 times per week using the telephone numbers you provide. We utilize the newest technology by use of pre-recorded messaging and outbound calls by our customer service team. There are two types of calls:
Out-dial:
A customer service representative places a live call and will leave a personal message if there is no answer.
Auto-dial:
Our system leaves a prerecorded dynamic message which integrates both your member name and your business. This practice results in a high volume of call backs to our live representatives.
All messages and emails provide information about our Online Customer Account Access Center where your member has the ability to review and modify account information, communicate with our Customer Service team, and most importantly, make a payment.
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Can I offer a settlement when an account becomes delinquent?
Yes. We recommend offering a settlement of 50% of the account balance at 90 days past due. If you would like us to automatically settle accounts, please complete and submit the Settlement Authorization section on the Servicing Options Form. Click Here to Access
Questions? Contact Client Services at 888.277.4407 or email client@membersolutions.com
What happens when an account goes into default?
Default occurs when a debtor is unable to make the required payments or is unwilling to honor the debt.
After a period of 90 plus days the responsible party has either:
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How do I enroll in this program? You will need to sign an agreement with First Credit Services and complete an authorization form, allowing Member Solutions to send accounts directly to them. CLICK HERE to review the terms and sign up. You may also contact William Jackson at Enroll by simply calling First Credit Services at 1-800-606-7066, ext. 2019. Once signed up, let us know that you have enrolled, and we can take it from there.
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Does the collection agency report to the credit bureaus?
During the sign-up process, you can choose whether your collection accounts will be reported to the national credit bureaus.
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