Loan Modification

Loan modification merchants often find it difficult to get approval for membership into a merchant account or eCheck program because the industry is one of a number of industries considered high risk by finance-related industries. As such, they are often limited to a select few methods of payment processing that are monumentally expensive. The good news is that while it’s true that most eCheck programs decline to become involved with loan modifications, Virtual Check welcomes these lenders into its client community with solutions designed to give everyone the necessary tools to conduct honest business.

What is Virtual Check Processing?

Virtual Check processing is the act of depositing or transmitting check payments electronically. Once a customer submits a payment, the merchant transmits the transaction to Virtual Check’s virtual terminal for check authorization before the payment reaches the merchant’s bank account. This means the payment is verified beforehand, resulting in no losses for nonpayment and no bank fees for failed payment. Virtual Check makes processing checks fast, easy and secure, and the merchant receives fund clearance much sooner than traditional methods of paper check processing.

Why Choose Virtual Check’s Program for Loan Modifications?

Aside from simplicity and security, there are many reasons to trust Virtual Check to help you process checks electronically. Our virtual check system provides a wide range of features designed to enhance your business efficiency and minimize your financial risk:
Over 300 million records accessing consumer factors like checking writing behaviors
More than 200 million records with consumer names, dates of birth, addresses, phone number and more
Over 40 million records referring to consumers with positive checking history
Over 33 million records about individuals with unpaid check claims
Identity verification details from LexisNexis & Equifax

Get Started Today

Don’t allow yourself to be penalized anymore just for engaging in an honest business most institutions view as high risk. Protect yourself and equip your business for success by partnering with Virtual Check. For more information, use our convenient contact form to get in touch with a representative.