Payment Plan Affordability Check

Live. Before you offer a payment plan: does it fit the consumer's own budget, what range to offer instead, and which fee, interest and disclosure rules apply.

Compares the plan with the consumer's stated monthly income and expenses and returns affordable, stretch, unaffordable or blocked, with a suggested payment range (25-50% of what is left after expenses) and payoff time. Flags plans that collect more than the balance or add interest or fees the agreement does not allow (FDCPA 1692f(1)), exempt benefit income (42 U.S.C. 407, 31 CFR 212), offers that could overshadow the validation period (1692g(b), 12 CFR 1006.38(b)), postdated payments (1692f(2)), Reg E authorization for recurring debits, Form 1099-C on forgiven amounts, disputes and bankruptcy, and reminds you to apply the same terms to everyone. Budget totals only, no personal data. Not legal advice.

Price: $0.002 per record after 1,000 free per month.

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