(PRWEB) November ##, 2009 -- Peregrin Services announces the creation of a new CARD Act compliant turnkey solution. With Peregrin's automated telephone response system, information about credit counseling services that is compliant with the proposed rules of the Credit CARD Act can be easily implemented by creditors. Peregrin, a leading technical solutions and consulting services provider, created the solution to help creditors comply with the new rules governing "repayment disclosures" that will go into effect no later than February 22, 2010.
"Peregrin has created a solution that will be easy for the creditor to implement, easy for the consumer to interact with and will be fully compliant with the law," says Mike Morency, President and CEO of Peregrin Services.
One aspect of these new rules is a stipulation requiring periodic credit card statements to contain a toll free number providing information about accessing credit counseling services. Peregrin's new automated system allows consumers to access information about three separate EOUST approved agencies by use of automated telephone prompts. The system works by prompting a consumer to give a ZIP code to ensure credit counseling agency (CCA) choices are approved to provide counseling in the state selected by the consumer. Information is then provided to the consumer in accordance with the Federal Reserve Board's proposed rules. Enhanced versions of the application will transfer consumers directly to the CCA of their choice, once all required information is given, allowing for enhanced cardholder assistance.
Though the CARD Act will go in effect no later than February 22, 2010, there is pending legislation that would require CARD Act compliance by December 1, 2009.
For more information about Peregrin's new turnkey CARD Act compliance solution, giving consumers ease in obtaining information about accessing credit counseling services, visit www.peregrinservices.com
About Peregrin
Peregrin Services offers consulting, application development, program management, and business process outsourcing services for lenders working with credit counseling agencies.
Based in Owings Mills, MD, Peregrin Services currently works with large and small creditors nationwide providing services and applications that help creditors automate and improve their management of agencies and Debt Management Programs. With better efficiency provided by Peregrin's solutions, resources are freed to help improve the performance and results of the credit counseling services provided by agencies nationwide.
