Campus Debt Client Orientation Manual

Welcome to Campus Debt Solutions
Compliance and Client Rights Department
“Letter from the President”
At Campus Debt Solutions we strive to ensure you are 100% satisfied
with the services we offer. Our number one goal is to handle your case
as quickly, professionally, and smoothly as we possibly can. It is your
right as a client to accept nothing less in how we handle your case.
Your rights as a client of Campus Debt Solutions are:
On behalf of our entire team here at Campus Debt Solutions, we
would like to welcome you to our services. Campus Debt Solutions
has assisted thousands of clients in taking advantage of these valuable
government programs. You have taken an important step in your
life to secure the financial relief these programs offer you and your
family. Each program is tailored to your individual financial situation.
Our counseling team has years of experience in educating and
assisting clients like you through this process. We are providing you
this New Client Orientation Manual to ensure you fully understand
the loan consolidation programs and the role Campus Debt Solutions
and you the client play in this process.
• That you fully understand the role Campus Debt Solutions plays in
preparing the necessary documents and electronic submissions that
allow you to apply for and receive the benefits of these valuable
government programs.
Campus Debt Solutions is not affiliated with any government organization. We are here to assist you in identifying which programs you
may qualify for, and helping you prepare all the necessary paperwork
required by the Department of Education. We offer a 100% money
back guarantee if for some reason your process is not completed.
• That you fully understand the role you, the client, plays in the
process of preparing your documents and electronic form
submissions.
Rest assured, with our experience and knowledge you will be placed in
the best possible program. All of your paperwork and electronic
submissions will be prepared properly, professionally, and quickly
allowing you to take advantage of the program for which you qualify
as soon as possible.
• That all of your questions and concerns throughout the entire
process of preparing and submitting the documents on your behalf
are answered or resolved to your satisfaction.
Our counselors are here to answer any questions you may
have. Do not hesitate to call if you should have any questions
or concerns whatsoever. We are here to help!!
Sincerely,
Cindy Chalovich
President
[email protected]
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• That you fully understand the loan consolidation programs that you
are applying for and the process by which we help identify the best
program suited to your individual financial situation and assist in
selecting that program.
Compl
• That you are updated periodically of the status of your case
through email and phone communications.
• That you are treated with dignity and respect in all dealings with
Campus Debt Solutions.
• That you are extended a 100% money back guarantee if we do
not meet our commitments.
Campus Debt Solutions has established a Compliance and Client
Rights Department available to you at any time. If for any reason, you
are not satisfied with any aspect of our services or feel we violated
any of the rights we extend to you above, please call our compliance
officer at (954) 377-9402 or email [email protected].
We commit to resolve any concern you may have.
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Student Loan Consolidation Programs
Break free of high debt payments with the best program for your
needs.
Struggling to stay ahead of high student loan payments? Tired of
watching your paychecks get bled dry every month to pay for your
education? Then it’s time to consolidate.
Campus Debt assists you in finding the best program for your needs.
We’ve waded through all the government websites and conflicting
information you’ll find online to provide a simple explanation of the
five programs you can use.
On the following pages is an explanation of each of the programs
available.
Understanding the Government
Programs Available
Income-Based Repayment Program (IBR)
This bases your payments on the amount of income you’re earning, so
it makes sure your payments are affordable at your current salary - in
some cases, your payment might be $0.
Income-Contingent Repayment Program (ICR)
This plan is similar to the IBR, except it uses a higher percentage of
your income to calculate your monthly payments allowing you to pay
off the debt faster with less interest added.
Pay as You Earn Program (PAYE)
If you’ve recently graduated and have the right type of loans that
were taken out recently (after 2007), then you can use this program
that takes the lowest portion of each paycheck possible.
Our Mutual Commitments
Standard Repayment Program
This is the most basic kind of consolidation you can do. Your loans are
all rolled into one bill and you make a fixed monhtly payment every
month until the principal and interest are paid off.
Federal Student Loan Debt
totals $1.2 Trillion Dollars
now exceeding credit card
debt ($882 Million).
71% of all college graduates
leave school with student loan
debt.
How much debt?
An average of $23,450.
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Graduated Repayment Program (GRAD)
The amount you pay each month is fixed, but it increases
incrementally. You are granted short term financial relief by paying a
low payment now. Your payment will increase every two years until
the principal and interest are paid off.
You promise you will:
We promise we will:
Provide accurate information
Answer all calls or emails in a
timely fashion
Respond to our request for
additional information in a
timely fashion
Keep you informed throughout
the process
Call us if you receive any
communications from your
previous lenders
Complete our process as quickly
as possible
Call us if you have any
questions or concerns
Provide a guaranteed service and
completion of your file
Handle all concerns personally by
our Consumer Advocate to your
satisfaction
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Hours of Operation
Monday - Thursday
Friday
Saturday
9:00am - 8:00pm (EST)
9:00am - 5:30pm (EST)
9:00am - 3:00pm (EST)
There is no limit to the amount of
referrals you can submit. We encourage
you to send as many people as possible
who can benefit from this program and
you will be rewarded for it!
* Certain rules apply.
National Student Loan Protection Program (NSLPP)
Company Contact Information
Enrollment Counselors - Toll Free 888-418-2031
Client Services - Toll Free 888-758-0720
Client Service Email - [email protected]
Consumer Advocate - 954-377-9402
Through the NSLPP, you will have access to all of these valuable
benefits:
Student Loan Assurance Program
DID YOU KNOW?
• Guaranteed to consolidate your loans or you’ll receive a 100%
refund.
We offer a fantastic referral program where you can earn $25 for each
person who successfully enrolls in the program.*
• Annual review of the client’s life situation to ensure they are in
the right loan program to maintain their benefits.
This is a great way to help your family and friends receive student loan
relief too!
• Concierge level customer service to answer any questions.
HOW DO I SEND REFERRALS?
Simply email your referral’s name and the best telephone number to
reach them at to [email protected]
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As part of your enrollment in our services, you can participate
in the NSLPP. For those of you who have elected to be part of
this program, you have made a wise choice in enjoying benefits
of the program. Below is the outline of this comprehensive
program designed to maintain your benefits, protect your ability
to pay your loans, and educate you on financial budgeting and
responsibility.
• Free consultation at any point when the client’s life situation
changes.
Involuntary Unemployment Insurance (IUI)
In uncertain times, give yourself added peace of mind. If you become
involuntarily unemployed, IUI will pay you $500 per month for up to
four months. Certain terms and conditions apply.
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KOFE Financial Education
Visit this user-friendly site to gain access to budgeting tools and the
financial guidance that is needed to live a financially secure lifestyle.
We hope to educate, motivate and empower you while giving you the
tools to refrain from overspending and encourage you to save and
invest. To access the site, please visit the site provided on your
enrollment documents.
iMoney Quest
A comprehensive interactive, web-based personal financial course
designed to teach consumers money management and budgeting
concepts to maintain healthy finances. To access the site, please visit
www.iMoneyQuest.com and enter the Agency Code provided in your
enrollment documents.
To access the other remaining benefits, please visit
www.mymembersmarketplace.com/platinum. Click “Access Now”
to set up your user profile and enter the password provided in your
enrollment documents.
If you are not enrolled, call us today to get started!
Frequently Asked Questions
Your success in identifying and properly submitting your
documentation depends on your commitment and participation
in your student loan consolidation process.
You need to contact our office any time you receive information from
your lender. In addition, it is important to communicate with us to
ensure your documents are prepared accurately.
What service does Campus Debt provide?
Campus Debt provides consultation and documentation preparation
services that help clients select the best possible program they are
eligible for through the Department of Education. CDS prepares the
necessary paperwork and submissions on your behalf.
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Is Campus Debt a government organization?
No. Campus Debt Solutions is a private company, not affiliated
with any government organization. Our sole purpose is to assist clients
to identify the valuable programs available to them and assist in the
document preparation required to qualify for such programs.
What forms of payment are accepted?
We accept payments by credit card or debit card (MasterCard, Visa,
or AMEX). Should you need to change your payment method, please
contact us at least five days before your scheduled payment.
How long will the process take?
Campus Debt Solutions prepares your paperwork as soon as you are
enrolled in the program. The process normally takes anywhere from 8
to 12 weeks for the loan consolidation to be put in place.
What happens if I miss a payment?
If for some reason you miss a scheduled payment, you should contact
Client Services immediately to avoid interruption in the service.
Can I cancel my services?
Campus Debt Solutions offers a 100% money back guarantee if for any
reason the consolidation process is not completed.
How do I obtain an update on my loan consolidation process?
You can call our Client Services department during normal business
hours to obtain an update on the service.
What should I do if I receive communications from my loan
provider(s)?
If you should receive any phone calls or correspondence from your
previous loan servicer, please contact Client Services immediately. Our
experienced customer service specialists will go through an extensive
process to see what is taking place with your account and assist you
with resolving any issue. We will provide you with direction as to how
to respond or handle the contact.
Do I have to continue to pay my current loan providers?
You should continue to make payments on your old loans until your
consolidation is complete. In some cases, your old loans may be
placed in forbearance if you still have the allotted time. This would
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allow you to not make payments. If you have any questions regarding
this, please contact our Client Service Department.
Can I do this myself?
Although you can complete this process on your own, you have
elected to let a professional organization assist you just as an
individual would use a tax accountant to prepare taxes to ensure
it is done professionally and correctly.
Do I have to renew my benefits annually?
Each year the DOE requires all participants of these programs to
re-file income documents. Depending on your income situation, your
payments may change. CDS offers a free consultation annually to all
clients. Take advantage of our experts, we are always here to help.
What if I receive a notification from my servicer that shows a higher
amount?
In many cases the servicer will place a client in a standard program
first upon completion of the consolidation. Don’t be alarmed, the
servicer is still processing the repayment plan so that you receive
the correct monthly payment per your income and household size.
This could take up to two weeks after the completion of your
consolidation.
Budgeting 101
Developing a solid and realistic budget won’t require reinventing
yourself financially or finding a better job, however, you do need to
be a responsible borrower and spender. Budgeting tells you what
you have to spend for every material thing in your life.
With a little data collection and some simple calculations, you
will probably find some easily adjustable surprises that could get
redirected to more important financial priorities, like paying down
debt and saving for emergencies. You may be surprised by how the
expenses that seem insignificant can really make an impact. Paying for
your car insurance in six month increments, for instance, often results
in saving money. By making small changes, you may be able to free
up funds that afford you the ability to make smart, money saving
decisions.
What if my situation changes and I cannot afford my loan payments?
We both have made a strong commitment to financial relief from your
student loans, simply call our Client Service department and allow our
experts to assist you. We will continue to help throughout the life time
of the loan.
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Income Worksheet
Flexible Expenses
Use this form to track your income. List all sources of income
including: cash gifts, bonuses, tax refunds, cost-of-living increases,
etc. All earnings you list should be net amounts (after tax).
Income Source
Weekly/Bi-Weekly
Income
Monthly Income
Your Wages
$
$
Spouse’s Wages
$
$
Telephone Bill
$
$
Part-Time Wages
$
$
Electric/Gas
$
$
Child Support
$
$
Oil/Fuel Bill
$
$
Alimony
$
$
Cable Television Bill
$
$
Social Security Benefits
$
$
Groceries
$
$
Veteran’s Benefits
$
$
Household Supplies
$
$
Other
$
$
School Supplies
$
$
Total Income
$
$
Clothes
$
$
Dry Cleaning
$
$
Laundry
$
$
Savings (5% is your goal)
$
$
Other
$
$
Total Flexible Expenses
$
$
Fixed Expenses
Use this form to track your fixed expenses. These expenses remain the
same each month and include student loan payments and car
payments.
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Flexible expenses are those that allow you to control the amount of
money spent. These include household and grocery items, restaurant
expenses, utilities, out-of-pocket expenses, etc.
Monthly Expenses
Current Payments
Mortgage/Rent
$
Real Estate Taxes
$
Homeowners Insurance
$
Car Loans/Lease Payments
$
Car Insurance
$
Student Loans
$
Alimony/Child Support
$
Medical Insurance
$
Credit Correction Payment
$
Other
$
Total Fixed Expenses
$
Monthly Expenses
Adjusted to
Balance Income
Current Payment
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Budgeting Made Easy
Discretionary Expenses
A Step-by-Step Implementation of a Spending Plan
Discretionary expenses are items that are not necessary for survival.
If your expense to income ratio is out of balance, items from this
category should be eliminated or cut back.
Monthly Expenses
Adjusted to
Balance Income
Current Payment
Recreation
$
$
Movies/Plays
$
$
Dining Out
$
$
Sporting Events
$
$
Magazines/Newspapers
$
$
Barber/Beauty Salon
$
$
Hobbies
$
$
Fund Raisers/Dues
$
$
Other
$
$
Other
$
$
Other
$
$
Total Discretionary Expenses
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STEP 1
List all sources of monthly income including gifts, bonuses, tax refunds, cost-of-living
increases, allowances, etc. To keep track of your income, use the Income Worksheet.
STEP 2
Expenses are separated into three categories: “fixed,” “flexible,” and “discretionary.” To
keep track of your expenses use the Expense Worksheets. Fixed Expenses remain the same
each month. These include rent, student loan payments etc. Total all fixed expenses.
Flexible expenses are those in which you control the amount of money you spend. These
include household and grocery items, restaurant expenses, utilities, entertainment, out-ofpocket expenses, etc. Total all flexible expenses.
Discretionary expenses are items that are not necessary for survival. If your expense to
income ratio is out of balance and you are spending more money than you earn, items
from this category should be eliminated or cut back. Total all discretionary expenses.
STEP 3
Total all of your expenses from each sheet (fixed, flexible, and discretionary). The next step
is to subtract that figure from your total monthly income. This figure will tell you where you
are - in the RED or in the BLACK.
If the expense total is greater than the income total, you are off track financially. If you are
in the black, that’s great! Now you just have to figure out how you should use the extra
money. It should be for savings or allocated to an emergency fund. If you are in the red,
you must adjust your income or reduce your expenses.
The goal is to bring your finances into balance so you can get out of debt. Adjust your
flexible and discretionary expenses as best as possible and write the new amount you
want to spend in the right column of the expense sheets.
STEP 4
Next, you have to allocate what expenses will be paid from which pay period. On a
calendar write down the dates you will be receiving income. Using a different color ink,
write in the dates of when your individual bills are due. This will help you figure out what
bills and/or expenses you must pay from which pay period and will give you a clear idea
of how much money you must set aside from each paycheck/allowance.
STEP 5
Once you adjust your expenses to your income, find ways to dedicate a certain amount
of any surplus money to pay off your most costly debts. When your credit cards and loans
are paid off, your priority should be to allocate 5% of your monthly income to a savings
account.
The goal is to build enough savings to create a reserve account. This method will save you
from living paycheck to paycheck and help you deal with the surprises of life.
Review your spending plan each income period. At the end of each, compare actual
expenses against what you budgeted. Don’t be afraid to change your budget and re-work
the numbers. It must evolve as your life does. If you find a particular thing is not working
- change it! As time passes, and you fine-tune your budget, you may want to only perform
this comparison on a quarterly basis.
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Privacy Policy
Educational Financial Solutions LLC, doing business as Campus Debt Solutions is dedicated to protecting
your privacy and providing you with the highest level of service. This Policy explains what CDS does to keep
information about you private and secure. This Policy covers only information that you provide to CDS or that it
obtains about you from companies that you have chosen to do business with. Please read this Policy carefully
and contact us if you have any questions.
Personal Information We Collect. The personal information we collect about you comes from the following
sources:
· Information we receive from you, such as your name, address, and telephone number, or other information
that you provide to us over the phone or in documents or applications.
· Information about your transactions, such as your account balances with your creditors, payment histories,
account activity, and all other information that may be contained in your credit card statements or other
reports relating to your debt.
· Information we receive from consumer reporting agencies and other sources, such as your credit bureau
reports, collection agency reports or other communications, and other information relating to your payment
histories, creditworthiness, annual income, or ability to satisfy your obligations.
We reserve the right to, and will, sell or transfer your personal information to third parties for any purpose in
our sole discretion. We prohibit the sale or transfer of personal information to non-affiliated entities for their
use without giving you the opportunity to opt-out. We may disclose such information in order to effect or
carry out any transaction that you have requested of us or as necessary to complete our contractual obligations with you. We may also share your information with service providers that perform business operations
for us, companies that act on our behalf to market our services, or others only as permitted or required by law,
such as to protect against fraud or in response to a subpoena. We may also share or transfer our information
in the event we transfer or sell your account or our business assets to another provider. By carrying out those
services, we may disclose your information, as we see fit and as permitted by law, to your creditors, credit
card companies, collection agencies, banks, and other entities and individuals specifically necessary to effect,
administer and perform our services.
Your Choices/Opt-out
NOTES
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We provide you the opportunity to ‘opt-out’ of having your personally identifiable information used for certain
purposes. By providing information to CDS you are consenting to the collection, use and disclosure of such
personal information in the manner described in this privacy policy. We provide you the opportunity to
withdraw your consent when such information is collected.
_______________________________________
Such consent may be withdrawn by calling the telephone number provided below or may be done in writing/
email and sent to our customer service department at the following physical address or email address:
_______________________________________
Campus Debt Solutions
6360 NW 5th Way, Ste. 103
Ft. Lauderdale, FL 33309
Email: [email protected]
Phone: (888) 758-0720
_______________________________________
How We Protect Your Information
_______________________________________
We train our employees to protect all customer information. We maintain physical, electronic and procedural
controls that comply with government standards. We authorize our employees, agents and contractors to get
information about you only when they need it to do their work with us. You can help to maintain the security
of your online transactions by not sharing your personal information or password with anyone. Remember, no
method of transmission over the Internet, or method of electronic storage, is 100% secure. This Policy applies
to current and former customers. If you have any questions, please contact Campus Debt Solutions at 6360
NW 5th Way, Ste. 103, Ft. Lauderdale, FL 33309.
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NOTES
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