Collection Agency Glossary Bowie MD

Here you will find collection agency glossary terms.

Local Companies

Euler Hermes ACI
410-923-6014
296 Long Point Road
Crownsville, MD
AmerAssist
888-494-7020
Washington, DC
Mortgage Company
301-613-3511
5101 River Road Suite 102
Bethesda , MD
AmerAssist
888-494-7020
Alexandria, VA
Suburban Adjustment Bureau
(301) 261-8188
Bowie, MD
Practice Dynamics Inc
(410) 526-9700
124 Business Center Dr
Reisterstown, MD
M A C S Inc
(410) 628-2460
1 Vintage Ct
Cockeysville, MD
Patrick Investigations Inc
(410) 252-1680
Lutherville Timonium, MD
Delmarva Collections Inc
(410) 268-4434
275 West St
Annapolis, MD
Classic Collections Inc
(410) 337-2834
8649 Tower Bridge Way
Lutherville Timonium, MD


Collection Agency Glossary

The following was sourced from American Student Assistance.

Academic Year -A period of time defined for credit hour schools as a minimum of 30 weeks instructional time in which a full time student is expected to complete at least 24 semester or trimester hours, or 36 quarter hours. For a clock hour school the period of time is a minimuim of 26 weeks in which a full time student is expected to complete at least 900 clock hours.

Administrative Wage Garnishment - Process by which a guarantor, under federal law, may intercept a portion of the wages of a borrower with a defaulted FFELP loan.

Adverse Credit - A derogatory credit status which, in turn, does not meet established status criteria needed in order to approve a PLUS Loan.

Aggregate Loan Limit - The total amount of loan proceeds for which a borrower is eligible by loan and borrower type throughout the student's academic career.

Amortization - The process of gradually repaying a loan over an extended period of time through periodic installments of principal and interest.

Annual Loan Limit - The maximum loan amount that can be approved for a borrower during an academic year.

Anticipated Graduation Date - The date a student is expected to complete the academic program requirements.

Attend Code Change Report (ACCR) - A monthly report generated by ASA to inform lenders and servicers about students who have withdrawn, graduated or have ceased to be enrolled at least half-time. Lenders and servicers require this information as they need to know when to verify a student's entrance into repayment of the interest and/or principal of the loan.

Automated Clearing House (ACH) - A pre-authorized, electronic method of transferring funds between accounts.

Bankruptcy - A person who declares bankruptcy, is found to be legally insolvent and his property is distributed among his creditors or otherwise administered to satisfy the interests of his creditors. Federal student loans, however, cannot normally be discharged through bankruptcy.

Billed - Refers to FASTFUND loans. Once a loan has been approved and scheduled for disbursement, a lender is "billed" on the weekly FASTFUND invoice for the guarantee fee and the net disbursement amount of the loan. See "FASTFUND Schedule."

Borrower - A student or parent/legal guardian who, by signing the Application and Promissory Note, is legally responsible for repayment of the loan.

Bursar's Office - Bursar's Office or Student Accounts Office is the school office that is responsible for the billing and collection of student charges.

Campus-Based Aid - Federal financial aid programs that are administered by eligible schools. The federal government provides the school with a fixed annual allocation, which is awarded by the financial aid administrator to needy students. Su

Featured Local Company

Euler Hermes ACI

410-923-6014
296 Long Point Road
Crownsville, MD
www.eulerhermesguide.com/tom_mccollum/

Domestic and Export Credit management solutions

An accounts receivable insurance policy from Euler Hermes ACI, North America's oldest and largest credit insurer, will allow you the freedom to increase your sales while reducing your risk. Credit insurance not only safeguards your accounts receivable from credit losses due to domestic or overseas customer insolvency and non-payment - it also protects your profits and cash flow, helps reduce your bad-debt reserves to free-up working capital, safely expand sales to new customers and markets without increasing risk, and enhances your relationship with lenders - allowing you to borrow more working capital.

Mid- Atlantic presence with Global expertise

Euler Hermes' credit risk management presence spans five continents and more than 30 countries with 6,000 local employees. In the Mid-Atlantic states, Tom McCollum provides consultative guidance for bankers, brokers, and business leaders looking to strengthen their financial positions. Contact Tom for more information about:

Credit insurance for either domestic or export buyers
Safely expanding sales base
Securing better borrowing terms
Reducing bad-debt reserves
Gaining the competitive advantage when exporting


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