Is PayRisk.com a debt collector?
NO. PayRisk.com is not a debt collector in any capacity. All listing information, editing, modifying, mailings, and contact to your PayRisk Listing (customer with a past due or delinquent invoice exclusively due your company or organization) is done by YOU or YOUR ORGANIZATION through YOUR Membership on the PayRisk site. PayRisk members may only list debts that are originated by their company, or whom are related by common ownership or affiliated by corporate control.
How does PayRisk.com help my business to collect its past due debts?
PayRisk.com can help your business collect past due debts because your PayRisk listings on the site are immediate and Public. The publishing of outstanding debts via the internet has proven to be so effective for collection that Local, State, and Federal Governments are using this method to collect past due taxes and debts.
How are the events listed by other members helpful to me?
PayRisk.com is a searchable database available to all members to pre-qualify all their current and future customers in regards to payment history. All PayRisk listings help you make more informed decisions as to which customers you extend credit.
How many of my past due payments am I able to list?
Unlimited. You may list any and all debts that are exclusive to you and/or your organization.
What customer information will I need to create a PayRisk listing?
Name/Company name, phone number, description of services/goods provided, amount due, date of service/goods delivered, and original payment due date are required fields. If you are not delivering the "Request for Payment" letter in person, an address or fax number will also be needed.
How long does it take to create a PayRisk Listing?
Less than 5 minutes. You must enter the customer information, print and mail the "Request for Payment" letter, and post the PayRisk listing LIVE to the site.
How is my PayRisk customer listing notified that their name is listed on PayRisk.com?
YOU will notify your customer using the PayRisk "Request for Payment" letter that the site will generate once you have created a PayRisk listing. Printing and sending the PayRisk "Request for Payment" letter is required for each PayRisk Listing that you create. It is important that you print and mail the PayRisk Payment Demand Letter immediately to expedite your collection process. It is also required as a condition of your membership. The PayRisk "Request for Payment" letter will notify your customer (PayRisk listing) of their past due debt owed to you, the Listing on the site, and instructions to make payment through PayRisk.com and have their name removed immediately upon making full payment.
How soon after I create a listing might I get paid?
Possibly in 2-3 days. Once you create a PayRisk.com listing you should immediately mail the notification form that informs your debtor they have been listed. Most people will not want their name and information out there for the world to see. The only way to remove their own name instantly is for the debtor to log-on and pay their balance in full.
Possibly never. Some people have no intention of paying regardless of actions taken.
How will I know if I have been paid by one of my PayRisk.com listings?
You will be notified via email. You can also see that a payment has been made when you log in to your account and view your listings.
How long after one of my PayRisk.com listings pays through the site can I expect to receive a check?
Payment will be forwarded to you or your organization within 30 days of month end in which payment processing and fund verification occurred. (Your listing processed on January 21st. Payment will be forwarded on or before February 28th.) *EFT may be available which could reduce this time period* Additional information will be required for this service.
How long will an event stay on the site?
Until the amount is paid in full.
Does PayRisk.com guarantee that I will get paid?
While PayRisk.com is designed to help you get paid in less time and with less cost than courts, attorneys, and collection agencies, we are currently offering a 6 month money back guarantee. Please see the "6
Month Money Back Guarantee" link on the "Become a Member" page for more information.
What are my responsibilities as a PayRisk.com member?
List only VALID, past due debts. Remove your PayRisk.com entry within 30 days if you are paid directly or if you settle with your client. List only YOUR past due debts. PayRisk members may only list debts that are originated by their company, or whom are related by common ownership or affiliated by corporate control.
What costs are associated with PayRisk.com facilitating the payment processing of my debt collection efforts?
Since PayRisk.com is not a debt collector, the only fee is for payment processing for the automated payment forwarding and automated deletion of your listing. This fee is 15% of the total amount processed through the site.
(Example: Jon Doe owes Acme Supply $300. Acme Supply lists Jon Doe on PayRisk.com. Jon Doe, who wants his name immediately removed from the site, remits payment in full through the site. Acme Supply will receive a check from PayRisk.com in the amount of $255.00. No further action is required by any party, the listing will automatically be deleted by the site.)
What is the length of the membership?
Most members sign up for the special offer - the first 100,000 members to sign up receive a special value of $199 for 6 month, plus an additional 6 months free. Monthly and quarterly billing is also available.