Debt Cancellation Programs
CSO and its subsidiaries, are engaged in the development and servicing of debt cancellation programs.
Debt cancellation is optional loan protection for a borrower. The terms associated with the protection are noted in a contract, typically via an addendum to the lending agreement. The debt cancellation contract allows for the cancellation of all or a portion of a borrower’s obligation to repay a loan if a specified protected event, such as death, disability or involuntary unemployment, occurs.
CSO’s strategically designed organizational structure and knowledgeable team of professionals allows for efficient administration of debt cancellation programs. Monthly fee debt cancellation programs protect installment-lending and line of credit loans offered by banks, credit unions and finance companies. CSO’s debt cancellation lender accounts have incorporated into their lending programs the option for their borrowers to protect their loans against various events such as:
Loss of Life Protection is designed to cancel all or a portion of the borrower’s loan balance if the borrower dies due to a protected event.
Total Disability Protection is designed to cancel all or a portion of the borrower’s scheduled monthly loan payment, while the borrower is totally disabled due to a protected event, for a maximum number of benefits. Recurrent protection allows for a new period of qualified total disability benefits if the borrower becomes gainfully employed full-time for a specified number of months, following a total disability.
Involuntary Unemployment Protection is designed to cancel all or a portion of the borrower’s scheduled monthly loan payment, while the borrower is involuntarily unemployed due to a protected event, for a maximum number of benefits. Recurrent protection allows for a new period of qualified involuntary unemployment benefits if the borrower becomes gainfully employed full-time for a specified number of months following an involuntary unemployment.
Information provided represents a general description of protection. Refer to the debt cancellation contract for eligibility requirements, terms, conditions, limitations, exclusions, and maximum benefit limits.
Looking for Assistance?
We're Here to Help!
As an administrator of Debt Cancellation Programs, CSO is prepared to assist with program support. Choose from the following options for assistance.
Phone Number:
(800) 826-6587
Hours:
7:30 AM to 5:00 PM (CST)
Monday through Friday
Phone Number:
(888) 453-5125
Hours:
7:30 AM to 5:00 PM (CST)
Monday through Friday
Register with CSO’s Benefit Portal CODE:
Scan the code and register for a personal account
Print a Benefit Request Form:
CLICK HERE
Email a Claim Form to:
CSOclaims@cso.com
Fax a Benefit Request Form to:
(800) 325-9116
To access the ezDCC program:
CLICK HERE