Debt Cancellation


Overview

Financial Institutions

The CSO Family of Companies, which includes CSO and its subsidiaries, are engaged in the development and servicing of debt cancellation programs. Debt cancellation is optional loan protection for a borrower. The terms associated with the protection are noted in a contract, typically via an addendum to the lending agreement. The debt cancellation contract allows for the cancellation of all or a portion of a borrower's obligation to repay a loan if a specified protected event, such as death, disability or involuntary unemployment, occurs.

CSO's strategically designed organizational structure and knowledgeable team of professionals allows for efficient administration of debt cancellation programs. Debt cancellation programs are offered by CSO’s bank, credit union, finance company and automobile dealership accounts.

Banks, Credit Unions and Finance Companies

Monthly fee debt cancellation programs protect installment-lending and line of credit loans offered by banks, credit unions and finance companies. To learn more, click here.

Dealerships

Secure Pay PlusSM (SPPSM) debt cancellation programs protect retail installment purchases of goods, such as automobiles, RVs and power sports, from dealerships. To learn more about SPPSM, click here.

Customer Service      888-453-5125 (M-F 7:30-5:00pm Central)

Customer Service

CSO is proud to be the administrator for our accounts offering debt cancellation protection to their customers. As administrator, CSO processes benefit requests. For assistance please select from the options noted below. Or, at any time, please contact a CSO Representative at the toll free number noted directly above.

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File a Benefit Request

CSO prides itself on delivering exceptional service to our accounts and their customers. CSO representatives are available to personally answer incoming calls during the business hours of 7:30 am to 5:00 pm (CST). Benefit request forms are available by selecting the protection type from the options below. Please follow the instructions at the top of the form. Should you have any questions, a CSO representative can be reached by calling toll free 888-453-5125.

A copy of the completed form can be faxed to CSO at 800-325-9116.


To report a death, please complete both forms below:

Report of Death

Authorization to Disclose Personal Information


To report a disability, please complete both forms below:

Report of Disability

Authorization to Disclose Personal Information


Report of Involuntary Unemployment


Report of Family Leave



Banks, Credit Unions and Finance Companies

Financial Institutions

CSO’s debt cancellation lender accounts have incorporated into their lending programs the option for their borrowers to protect their loans against various events such as:

  • Loss of Life Protection – is designed to cancel all or a portion of the borrower's loan balance if the borrower dies due to a protected event.

  • Total Disability Protection – is designed to cancel all or a portion of the borrower’s scheduled monthly loan payment, while the borrower is totally disabled due to a protected event, for a maximum number of benefits. Recurrent protection allows for a new period of qualified total disability benefits if the borrower becomes gainfully employed full-time for a specified number of months, following a total disability.

  • Involuntary Unemployment Protection – is designed to cancel all or a portion of the borrower’s scheduled monthly loan payment, while the borrower is involuntarily unemployed due to a protected event, for a maximum number of benefits. Recurrent protection allows for a new period of qualified involuntary unemployment benefits if the borrower becomes gainfully employed full-time for a specified number of months following an involuntary unemployment.

Information provided represents a general description of protection. Refer to the debt cancellation contract for eligibility requirements, terms, conditions, limitations, exclusions, and maximum benefit limits.

Dealerships

Auto Dealerships

SPPSM is a branded indirect lending debt cancellation program that CSO’s dealership accounts have incorporated into their lending programs, providing borrowers the option to protect their retail installment loan against various events such as:

  • Loss of Life Protection – is designed to cancel all or a portion of the borrower’s loan balance if the borrower dies due to a protected event.

  • Total Disability Protection – is designed to cancel all or a portion of the borrower’s scheduled monthly loan payment, while the borrower is totally disabled due to a protected event, for a maximum number of benefits.

  • Involuntary Unemployment Protection – is designed to cancel all or a portion of the borrower’s scheduled monthly loan payment, while the borrower is involuntarily unemployed due to a protected event, for a maximum number of benefits.

Information provided represents a general description of protection. Refer to the debt cancellation contract for eligibility requirements, terms, conditions, limitations, exclusions, and maximum benefit limits.