Account Closeout Check

Live. An account was paid, settled, recalled or discharged. Everything that must happen before you close it.

Closeout checklist for each account: the final payment cleared (an ACH debit can still come back as unauthorized for 60 days), short payments, overpayment refunds, cancelled scheduled debits and returned postdated checks (FDCPA 1692f(1)); credit bureau updates in the next cycle (FCRA 623(a)(2): status 62, Special Comment AU for settlements, paid medical collections deleted, discharged accounts at $0); no sale or placement of a paid, settled or discharged debt (Reg F 1006.30(b)(1)); a paid or settled letter that carries the debt collector disclosure; removal from every dialer list and campaign; client remittance; satisfaction of judgment and lien releases; the bankruptcy discharge injunction (11 U.S.C. 524); Form 1099-C routing when $600 or more is forgiven; and keeping the file 3 years (1006.100). Returns ready to close, steps open, hold until cleared or action required, with due dates. Up to 2,000 accounts per call; amounts and dates only. Not legal advice.

Price: $0.001 per record after 1,000 free per month.

DebtLayer · Tools · Free tools · Docs · support@debtlayer.io