Credit Counseling Payments 2017-04-22T12:29:19+00:00

Credit Counseling Payment Processing

Mid-South Imaging has partnered with the following organizations to provide electronic creditor payments originating from over 350 credit counseling agencies and select collection agencies:

NFCC – National Foundation for Credit Counseling,

FCAA – Financial Counseling Association of America


Participating in the enablement of electronic credit counseling payments provides several benefits beyond just the traditional paper vs electronic cost benefit analysis  creditor’s typically use to justify organizational project resources.

  • Many of the industries credit counseling agencies are 501C3, non-profit organizations.  When a creditor does not accept electronic payments the sending organization is forced to mail checks which increases operational overhead of both the agency and creditor.
  • Creditors that accept electronic payments can minimize the carbon footprint associated with the production and delivery (USPS) of the checks.
  • Receive guaranteed funds via ACH 5 to 7 days faster.
  • If the creditor currently pays the credit counseling agency a commission (fair-share) MSI can cap the percent of commission allowed by the individual credit counseling agency to allow for a variable commission amount.
  • Receive individual credit counseling agency payment reporting.
  • Utilize MSI’s account number translation feature to fix bad account numbers one time, then every file thereafter MSI automatically fixes the account number in the posting file minimizing the need to communicate with multiple originating organizations.
  • MSI will customize the electronic receivables file format to meet your organizations proprietary posting file format.
  • Receive daily settlement reconciliation reporting.
  • MSI can typically activate electronic payments in 30 days or less.