Who is Account Management Plus, Inc. (AMP)?
Account Management Plus, Inc. (AMP) is committed to exceeding and delivering exceptional service to every client. AMP conducts transactions in compliance with FTC regulations for Debt Settlement and Student Loan Companies. These unique industry standards require custom solutions to provide data to both your company and your clients. Utilizing our proprietary software, we deliver form fitting solutions for your transaction needs while keeping you compliant. Our team of widely skilled account managers are here to assist the client and company with anything needed.
Does AMP provide settlement negotiations or credit counseling?
No. AMP is an independent third-party that specializes in Intermediary Accounting Services. AMP provides Savings Accounting services to consumers enrolled in a debt settlement program or student loan program.
What is a “Special Purpose Account” (SPA)?
AMPs’ most popular product is its FDIC insured SPA accounting, which provides debt settlement consumers with a way to save and manage their funds intended for paying off debt. The SPA allows clients to retain complete control over their funds while the debt settlement or student loan company working on their behalf is granted view only access. This view only access allows the debt settlement companies to keep track of when clients have enough funds to initiate a settlement with their creditors.
How do I get an SPA account?
Upon receipt of your approved application form, AMP establishes and maintains a FDIC insured SPA account that allows you to save funds to pay off your debts. You will also receive a statement each month with your balance and any transaction information on the account.
How do I access my SPA account?
Your account can be accessed online by: 1.Go to our website at https://login.myampaccount.com 2. Enter your unique Username, and password provided to your email on account.. You will have the option of changing your online password once you login to the website for the first time. You may also contact our Customer Support line at 727-725-1133 for further assistance.
How do I fund the account?
There are several ways to fund the account. The most popular is by you authorizing AMP to automatically withdraw your monthly payment from your designated bank account and depositing them into your SPA account.
How do I make payments and fees from my account?
All payments and fees are approved by you. Your funds will be held in your SPA until a successful settlement has been reached with one of your creditors. As soon as AMP receives notice that a settlement has been reached and approved , AMP then sends the settlement payment to the appropriate creditor. Also your approved fees are forwarded to your debt settlement company.
Can I withdraw funds or cancel my account?
Yes. The funds on deposit in your SPA account belong to you. AMP is entrusted to hold these funds in our account for you. You can also cancel your SPA. Before you cancel your accounting services, we always ask that you consult with your Debt Settlement Company to ensure you have a full understanding of how closing your account may impact pending settlement negotiations that have been made with your creditors. Any changes or withdrawals from your SPA can be made by contacting AMP’s Customer Service department directly.There are zero fees or penalties when you miss a monthly payment or you decide to drop out of the program. That is clearly outlined in your contract. Our job is to get you out of debt, not put you in more.
How safe are the accounts?
Your SPA account is safe, secure and insured by the FDIC up to the maximum amount.