Collection Agency Glossary Michigan

Here you will find collection agency glossary terms.

Local Companies

AmerAssist
888-494-7020
Ann Arbor, MI
AmerAssist
888-494-7020
Flint, MI
AmerAssist
888-494-7020
Grand Rapids, MI
Universal Credit Services, Inc
800.931.3711
P.O. Box 133
Hartland, MI
AmerAssist
888-494-7020
Warren, MI
AmerAssist
888-494-7020
Lansing, MI
AmerAssist
888-494-7020
Detroit, MI
AmerAssist
888-494-7020
Sterling Heights, MI
Dalman Financial Services, LLC
517-244-1000
624 S. Cedar Street
Mason, MI
YAO INC
(734) 612-0489
2525 Six Mile Rd
Livonia, MI


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Code Change Report (ACCR) - A monthly report generated by ASA to inform lenders and servicers about students who have withdrawn, graduated or have ceased to be enrolled at least half-time.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

Dalman Financial Services, LLC

517-244-1000
624 S. Cedar Street
Mason, MI

Regional Articles
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- Collection Agency Glossary Allegan MI
- Collection Agency Glossary Allen Park MI
- Collection Agency Glossary Allendale MI
- Collection Agency Glossary Alma MI
- Collection Agency Glossary Alpena MI
- Collection Agency Glossary Ann Arbor MI
- Collection Agency Glossary Auburn Hills MI
- Collection Agency Glossary Battle Creek MI
- Collection Agency Glossary Bay City MI
- Collection Agency Glossary Belding MI
- Collection Agency Glossary Belleville MI
- Collection Agency Glossary Benton Harbor MI
- Collection Agency Glossary Berkley MI
- Collection Agency Glossary Berrien Springs MI
- Collection Agency Glossary Big Rapids MI
- Collection Agency Glossary Birmingham MI
- Collection Agency Glossary Bloomfield Hills MI
- Collection Agency Glossary Brighton MI
- Collection Agency Glossary Buchanan MI
- Collection Agency Glossary Burton MI
- Collection Agency Glossary Byron Center MI
- Collection Agency Glossary Cadillac MI
- Collection Agency Glossary Caledonia MI
- Collection Agency Glossary Canton MI
- Collection Agency Glossary Carleton MI
- Collection Agency Glossary Caro MI
- Collection Agency Glossary Cedar Springs MI
- Collection Agency Glossary Charlotte MI
- Collection Agency Glossary Cheboygan MI
- Collection Agency Glossary Chelsea MI
- Collection Agency Glossary Clarkston MI
- Collection Agency Glossary Clawson MI
- Collection Agency Glossary Clinton Township MI
- Collection Agency Glossary Clio MI
- Collection Agency Glossary Coldwater MI
- Collection Agency Glossary Coloma MI
- Collection Agency Glossary Commerce Township MI
- Collection Agency Glossary Comstock Park MI
- Collection Agency Glossary Davison MI
- Collection Agency Glossary Dearborn Heights MI
- Collection Agency Glossary Dearborn MI
- Collection Agency Glossary Detroit MI
- Collection Agency Glossary Dewitt MI
- Collection Agency Glossary Dexter MI
- Collection Agency Glossary Dowagiac MI
- Collection Agency Glossary East Lansing MI
- Collection Agency Glossary Eastpointe MI
- Collection Agency Glossary Eaton Rapids MI
- Collection Agency Glossary Ecorse MI
- Collection Agency Glossary Escanaba MI
- Collection Agency Glossary Essexville MI
- Collection Agency Glossary Farmington MI
- Collection Agency Glossary Fenton MI
- Collection Agency Glossary Ferndale MI
- Collection Agency Glossary Flat Rock MI
- Collection Agency Glossary Flint MI
- Collection Agency Glossary Flushing MI
- Collection Agency Glossary Fort Gratiot MI
- Collection Agency Glossary Fowlerville MI
- Collection Agency Glossary Franklin MI
- Collection Agency Glossary Fraser MI
- Collection Agency Glossary Freeland MI
- Collection Agency Glossary Fremont MI
- Collection Agency Glossary Garden City MI
- Collection Agency Glossary Gaylord MI
- Collection Agency Glossary Gladwin MI
- Collection Agency Glossary Grand Blanc MI
- Collection Agency Glossary Grand Haven MI
- Collection Agency Glossary Grand Ledge MI
- Collection Agency Glossary Grand Rapids MI
- Collection Agency Glossary Grandville MI
- Collection Agency Glossary Grayling MI
- Collection Agency Glossary Greenville MI
- Collection Agency Glossary Grosse Ile MI
- Collection Agency Glossary Grosse Pointe MI
- Collection Agency Glossary Hamtramck MI
- Collection Agency Glossary Harper Woods MI
- Collection Agency Glossary Harrison MI
- Collection Agency Glossary Harrison Township MI
- Collection Agency Glossary Haslett MI
- Collection Agency Glossary Hastings MI
- Collection Agency Glossary Hazel Park MI
- Collection Agency Glossary Highland MI
- Collection Agency Glossary Highland Park MI
- Collection Agency Glossary Hillsdale MI
- Collection Agency Glossary Holland MI
- Collection Agency Glossary Holly MI
- Collection Agency Glossary Holt MI
- Collection Agency Glossary Howell MI
- Collection Agency Glossary Hudsonville MI
- Collection Agency Glossary Inkster MI
- Collection Agency Glossary Ionia MI
- Collection Agency Glossary Iron Mountain MI
- Collection Agency Glossary Ishpeming MI
- Collection Agency Glossary Jackson MI
- Collection Agency Glossary Jenison MI
- Collection Agency Glossary Kalamazoo MI
- Collection Agency Glossary Lake Orion MI
- Collection Agency Glossary Lansing MI
- Collection Agency Glossary Lapeer MI
- Collection Agency Glossary Lincoln Park MI
- Collection Agency Glossary Linden MI
- Collection Agency Glossary Livonia MI
- Collection Agency Glossary Lowell MI
- Collection Agency Glossary Ludington MI
- Collection Agency Glossary Macomb MI
- Collection Agency Glossary Madison Heights MI
- Collection Agency Glossary Manistee MI
- Collection Agency Glossary Marquette MI
- Collection Agency Glossary Marshall MI
- Collection Agency Glossary Mason MI
- Collection Agency Glossary Melvindale MI
- Collection Agency Glossary Menominee MI
- Collection Agency Glossary Midland MI
- Collection Agency Glossary Milan MI
- Collection Agency Glossary Milford MI
- Collection Agency Glossary Monroe MI
- Collection Agency Glossary Mount Clemens MI
- Collection Agency Glossary Mount Morris MI
- Collection Agency Glossary Mount Pleasant MI
- Collection Agency Glossary Muskegon MI
- Collection Agency Glossary New Baltimore MI
- Collection Agency Glossary Newaygo MI
- Collection Agency Glossary Newport MI
- Collection Agency Glossary Niles MI
- Collection Agency Glossary Northville MI
- Collection Agency Glossary Novi MI
- Collection Agency Glossary Oak Park MI
- Collection Agency Glossary Okemos MI
- Collection Agency Glossary Ortonville MI
- Collection Agency Glossary Owosso MI
- Collection Agency Glossary Oxford MI
- Collection Agency Glossary Paw Paw MI
- Collection Agency Glossary Petoskey MI
- Collection Agency Glossary Pinckney MI
- Collection Agency Glossary Plainwell MI
- Collection Agency Glossary Plymouth MI
- Collection Agency Glossary Pontiac MI
- Collection Agency Glossary Port Huron MI
- Collection Agency Glossary Portage MI
- Collection Agency Glossary Redford MI
- Collection Agency Glossary River Rouge MI
- Collection Agency Glossary Rochester MI
- Collection Agency Glossary Rockford MI
- Collection Agency Glossary Rockwood MI
- Collection Agency Glossary Romeo MI
- Collection Agency Glossary Romulus MI
- Collection Agency Glossary Roscommon MI
- Collection Agency Glossary Roseville MI
- Collection Agency Glossary Royal Oak MI
- Collection Agency Glossary Saginaw MI
- Collection Agency Glossary Saint Clair MI
- Collection Agency Glossary Saint Clair Shores MI
- Collection Agency Glossary Saint Johns MI
- Collection Agency Glossary Saint Joseph MI
- Collection Agency Glossary Saline MI
- Collection Agency Glossary Sault Sainte Marie MI
- Collection Agency Glossary South Haven MI
- Collection Agency Glossary South Lyon MI
- Collection Agency Glossary Southfield MI
- Collection Agency Glossary Southgate MI
- Collection Agency Glossary Sparta MI
- Collection Agency Glossary Spring Lake MI
- Collection Agency Glossary Sterling Heights MI
- Collection Agency Glossary Sturgis MI
- Collection Agency Glossary Swartz Creek MI
- Collection Agency Glossary Taylor MI
- Collection Agency Glossary Tecumseh MI
- Collection Agency Glossary Temperance MI
- Collection Agency Glossary Three Rivers MI
- Collection Agency Glossary Traverse City MI
- Collection Agency Glossary Trenton MI
- Collection Agency Glossary Troy MI
- Collection Agency Glossary Utica MI
- Collection Agency Glossary Vassar MI
- Collection Agency Glossary Walled Lake MI
- Collection Agency Glossary Warren MI
- Collection Agency Glossary Washington MI
- Collection Agency Glossary Waterford MI
- Collection Agency Glossary Wayland MI
- Collection Agency Glossary Wayne MI
- Collection Agency Glossary West Bloomfield MI
- Collection Agency Glossary West Branch MI
- Collection Agency Glossary Westland MI
- Collection Agency Glossary White Lake MI
- Collection Agency Glossary Whitmore Lake MI
- Collection Agency Glossary Williamston MI
- Collection Agency Glossary Wixom MI
- Collection Agency Glossary Wyandotte MI
- Collection Agency Glossary Wyoming MI
- Collection Agency Glossary Ypsilanti MI
- Collection Agency Glossary Zeeland MI
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