As creditors spoke to us about their needs, it became clear that a single platform would not adequately service everyone. Peregrin has responded to the market by creating multiple service solutions to satisfy the needs of every creditor, large and small
Owings Mills, MD (PRWEB) December 16, 2009
Peregrin Services(TM) announces the release of its CARD Act compliant toll-free line enabling consumers to receive information about accessing credit counseling services. Peregrin's fully automated and customizable solution, compliant with the proposed rules of the Credit CARD Act, can be easily implemented by any creditor.
"As creditors spoke to us about their needs, it became clear that a single platform would not adequately service everyone. Peregrin has responded to the market by creating multiple service solutions to satisfy the needs of every creditor, large and small," says Mike Morency, President and CEO of Peregrin Services. Rules proposed by the Federal Reserve Board require creditors to provide specific information to borrowers about accessing credit counseling services via a toll-free phone number published on their credit card statements.
Peregrin's platform offers creditors many choices in implementing their CARD Act solution. In all applications Peregrin assures full time availability through multiple site redundancy. Services will be offered in a variety of ways starting with a Peregrin hosted environment that will incur a low cost per minute charge and small monthly service fees, to more enhanced options that will allow creditors to lease ports and either use Peregrin resources to administer the calls or integrate them into their own in-house systems. For creditors, the leasing and hosting options will ensure cost certainty and furthermore makes certain that callers can always connect.
Peregrin urges creditors to have a solution in place by January 15 to ensure compliance on February 22.
For more information about Peregrin's new turnkey CARD Act compliance solution, giving consumers ease in obtaining information about accessing credit counseling services, visit http://www.peregrinservices.com.
Peregrin Services offers consulting, application development, program management, and business process outsourcing services for lenders working with credit counseling agencies. Based in Owings Mills, MD, Peregrin Services currently works with large and small credit card issuers nationwide providing services and applications that help creditors automate and improve their management of agencies and Debt Management Programs. With better efficiency provided by Peregrin's solutions, resources are freed to help improve the performance and results of the credit counseling services provided by agencies nationwide.