FAQs

Here are some commonly asked questions about what we do

Who is NoteWorld?
For over 25 years, NoteWorld has been a leading provider of contract and account servicing, specializing in payment processing. As an independent, third party servicer for the Debt Settlement Industry, NoteWorld gives debt settlement companies and consumers peace of mind.

What service does NoteWorld provide?
NoteWorld servicing is a third party service that collects, processes, and disburses payments for customers in debt settlement programs. Customers’ savings are maintained securely in a non-interest bearing, FDIC insured trust account. Your contracted fees are disbursed daily as part of the service.

How do debt settlement company clients monitor their NoteWorld account?
By using NoteWorld Reporter, our web-based database and reporting system. Your clients will have access to their NoteWorld account information 24 hours a day, 7 days a week, by secure login access to www.noteworldreporter.com. Your clients can see when their monthly payments have been debited, when a settlement occurs, how much money they have saved and much more. Your clients also can speak with a live NoteWorld customer relations representative Monday through Friday from 8-5 Pacific Standard Time.

How does NoteWorld disburse settlement payments to creditors?
Your clients’ funds are held in a secure trust account until a settlement has been successfully reached with a creditor. As soon as NoteWorld receives notice that a settlement has been reached and approved by your client, NoteWorld sends the settlement payment to the appropriate creditor by overnight delivery in accordance with the written instructions from your creditor.

Does NoteWorld provide credit counseling or settlement negotiations?
No. NoteWorld specializes in payment processing. NoteWorld is an independent company that drafts, processes & disburses debt settlement companies’ clients’ payments.

How do debt settlement clients make their payments to NoteWorld?
Debt settlement company clients will separately authorize NoteWorld in writing to have their payments electronically withdrawn from their designated bank account each month. Your clients can also send payments by check, and can make additional payments by web or by phone. Your clients’ NoteWorld accounts are set-up in accordance with the terms of the agreement between you and your clients.

How do debt settlement companies know how much money a client has accumulated for settlement?
Debt settlement companies have 24/7 online view only access to their clients’ NoteWorld account information via www.noteworldreporter.com. Using NoteWorld Reporter, a debt settlement company can review account balances and account activity for all its clients. NoteWorld also provides debt settlement companies with daily reports that contain this information.

Can debt settlement company clients withdraw their money from their NoteWorld account?
Yes. The funds on deposit in the secure NoteWorld trust account belong to the debt settlement companies’ clients. NoteWorld is entrusted to hold these funds in a secure, non-interest bearing trust account for their benefit. You will, however, always know exactly how much the customer has available for settlement.

How does a debt settlement company receive its contractual fees?
When NoteWorld receives a payment from your client, we will deduct the contractual fees you are owed and automatically forward those funds to you electronically on a daily basis.