Frequently Asked Questions
At Marathon Collect, we understand that our clients have many questions when it comes to their accounts and credit reports. To ensure they have the information they need, we’ve compiled the most frequently asked questions and answers here.
I have a question about:
Credit Report
Who is Marathon Collect?
Identity Theft
Third Party Authorization
Credit Report
What kind of creditors do you work with?
Marathon Collect works mostly with consumer finance accounts. Including almost any unsecured creditor (meanind credit cards)
The majority of our clients are dealing with credit cards, we can also include personal loans, collection agencies, pay day loans, medical or veterinary bills, and many more in your debt consolidation plan.
How is debt management different from filing bankruptcy?
With debt management, you repay your creditors in full over time, usually with reduced interest and fees- terms they agree to.
Bankruptcy exists for a reason and for many consumers, but also means you are going to court with your creditors, thereby destroying your credit.
Filing for bankruptcy makes it far more expensive, if not impossible, to buy a house or car, get a loan and maybe even obtain a job for several years. In the end you will also have to answer the question, “Have you ever filed for bankruptcy?”
How is debt management different than bankruptcy?
With credit counseling, you repay your creditors in full over time, usually with reduced interest and fees- terms they agree to.
Bankruptcy exists for a reason and for many consumers, but also means you are going to court with your creditors, thereby destroying your credit.
Filing for bankruptcy makes it far more expensive, if not impossible, to buy a house or car, get a loan and maybe even obtain a job for several years. In the end you will also have to answer the question, “Have you ever filed for bankruptcy?”
Can I still use my credit card
If you need to keep one available, discuss it with your credit counselor. In order for us to serve you and reach an agreement with your creditor to reduce your fees, payments and interest, we will advocate for you to get out of debt, not stay in it.
We are making a pland for your financial well being, not continue the cycle of debt.
Who is Marathon Collect?
Who is Marathon Collect?
Marathon Collect is a Credit Management Solutions provider, helps consumers resolve outstanding account balances that are past-due. Over the years, we have helped consumers achieve their goal of paying off their debt and achieving financial freedom.
We offer multiple client payment options: pay by phone, mail, on our website, or have your payment automatically deducted from your checking or savings account. We can email your monthly statements and as a client, you will have 24/7 online access to your account information.
Who does Marathon collect for?
Marathon Collect, works mostly with consumer finance accounts. Including almost any unsecured creditor (unsecured simply means nothing they can come and take like your home, car, etc.).
The majority of our clients are dealing with credit cards, we can also include personal loans, collection agencies, pay day loans, medical or veterinary bills, and many more in your debt consolidation plan.
Identity Theft
How is debt management different than bankruptcy?
With credit counseling, you repay your creditors in full over time, usually with reduced interest and fees- terms they agree to.
Bankruptcy exists for a reason and for many consumers, but also means you are going to court with your creditors, thereby destroying your credit.
Filing for bankruptcy makes it far more expensive, if not impossible, to buy a house or car, get a loan and maybe even obtain a job for several years. In the end you will also have to answer the question, “Have you ever filed for bankruptcy?”
Can I still use my credit card
If you need to keep one available, discuss it with your credit counselor. In order for us to serve you and reach an agreement with your creditor to reduce your fees, payments and interest, we will advocate for you to get out of debt, not stay in it.
We are making a pland for your financial well being, not continue the cycle of debt.
What happens if I miss a payment?
That is no problem at all. Creditors just want to be paid. Most creditors will bring your accounts current, stop late and over limit fees, stop collection calls and reduce or eliminate interest.
This being said, the more proactive you are the better. Waiting until accounts get further and further behind only makes things harder.
Third Party Authorization
Can I still use my credit card
If you need to keep one available, discuss it with your credit counselor. In order for us to serve you and reach an agreement with your creditor to reduce your fees, payments and interest, we will advocate for you to get out of debt, not stay in it.
We are making a pland for your financial well being, not continue the cycle of debt.
Can I pay off faster if I pay more?
Absolutely, and we never charge extra for early payoff.
We encourage you to buld an emergency savings and use the “extra” to get you out of debt faster.
Many of our clients contact us at tax time to make an extra payment, others increase their payment to reduce the length of time on the program as their finances improve.
Our objective is to assist you in becoming debt free as soon as you can.
What happens once I complete the program?
Once our records indicate you have completed the program, we attempt to verify all balances are paid in full. We also recommend you retain any creditor statements in your files. In some cases the pay off date may differ on the credit statement.
Paying off your accounts is viewed as a positive and we are available to help you create a plan to support your financial freedom.