Creditor Information / Discover Card
Telephone | 800-347-3152 |
Payment Percentage of balance | 2.25%/ 2%/1.75% Some may require +3% |
Payment Minimum Amount | $15.00 / Some $35.00 |
Charge Free Period | N/A |
Acct Required to be Open | 9 Mo |
CSP/Hardship programs | Yes |
DMP Interest Rate | 11.99%/ 9.99%/6.99%/ 1.99% |
Waive late fees | Yes |
Waive over limit fees | Yes |
DMP benefits begin | Upon proposal acceptance |
Re-Age | Yes, automatically after third accepted DMP payment, if eligible |
Restructure | No |
Recall | Yes, depends on the agency handling and their preference. |
Due Date Changes | Yes |
Charge Off Period | 210 days |
Drop Policy | Account drops when it reaches 60 days delinquency. It doesn’t have to be consecutive. |
Internal hardship/ Promotion Policy | Accts already on internal plans are not eligible for DMP until they expire. Send new proposal once it has been removed. |
Misc. Information | Some cards require $35 MMP or +3% of balance, due to contractual requirements. Clients can find information on their monthly billing statements. |