| Q: |
What is Mepco? |
 |
| A: |
Mepco is a finance company that provides payment plans to
consumers to allow them to pay for their vehicle service contracts
and/or product contracts over time.
Mepco is owned by Independent Bank
Corporation (NASDAQ: IBCP
). |
|
| Q: |
Where do I send my payment? |
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| A: |
Mepco offers a variety of payment options:
1) You may set your account up for automatic direct debit from a
credit card/debit card, or with your bank routing and account number
by logging into your account at mepco.com using
the username and password that appears on your statement.
2) You may call customer service and make a one time payment using your credit card, debit card, or bank account
and routing numbers.
3) You may send your payment in using a check or money order. Please
use the following addresses as they correspond to your needs:
Payment Addresses (United States)
Please make checks payable to "Mepco" with the Mecpo account number in the check/money order's memo line and send them to the following address:
For Payments on accounts starting with account numbers FSC, WAR, MEP, AWA, USF, CWS, BOA or HOM:
For U.S. Mail:
Mepco Finance Corporation
PO Box 5978
Carol Stream, Illinois 60197-5978
For Overnight delivery (UPS, FedEx, etc.):
American Chartered Bank
20 N. Martingale Ste 600
Schaumburg, Illinois 60173
ATTN: Mepco 5978
Payment Addresses (Canada)
Please make checks payable to "Mepco" with the Mecpo account number in the check/money order's memo line and send them to the following address:
For Payments on accounts starting with account numbers CTL:
Mepco Finance Corporation
P.O. Box 57792
Postal Station A
Toronto, Ontario
M5W 5M5
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| Q: |
How do I find out my account status and payment history? |
|
| A: |
You may view you account information online at mepco.com
under the option for online account access. Log into your account
using your account number and zip code as your username and password.
With your Mepco account number you may also access your account details such as payment information, account status, remaining balance and more 24 hours a day by calling 1-800-397-6767 and using our automated voice mail system. |
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| Q: |
Is there a grace period for payments? How many days? |
|
| A: |
All payment grace periods are governed by state law.
In most states, there is a grace period of between 5 and 10 days after
the payment due date before late charges are assessed, and between
20 to 30 days before cancellation. |
|
| Q: |
When will I be assessed late charges? |
|
| A: |
In accordance with state law, a late charge will be
assessed if payment is not received by the payment due date. In most
states, late charges will be applied 5 to 10 days after the payment
due date. |
|
| Q: |
Why was my account cancelled? |
|
| A: |
Mepco cancels accounts only for nonpayment of premium.
Depending on state law, Mepco will cancel the policy if payment is
not received between 20 to 30 days from the payment due date. |
|
| Q: |
How can I get my account reinstated? |
|
| A: |
Mepco will request reinstatement of
a policy if the account is brought current by paying all past due
payments and late charges. Mepco will request reinstatement with the
service contract company only when the account is current. Although Mepco
can request reinstatement, the service contract company actually decides if
the account is eligible for reinstatement. |
|
| Q: |
How do I get a refund on a cancelled account? |
|
| A: |
Your agent or dealer is responsible for customer refunds
on cancelled accounts.. |
|
| Q: |
Why was the down payment on my credit card taken from
another company? |
|
| A: |
The down payment is typically collected by the
selling agent. After you purchase a vehicle service contract, all of
the paperwork is sent to the administrator, who performs
an underwriting process to make sure that your vehicle is eligible
for the service contract. Then the service contract administrator forwards the retail
installment contract to Mepco for processing. Thus there can be a delay
before Mepco receives the necessary paperwork to bill your account. |
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| Q: |
Who is my agent or dealer? |
|
| A: |
Your agent or dealer is the company that sold you the
vehicle service contract- it may be an auto dealership, a direct marketing
company or an Internet-based company. |
|
| Q: |
Who is my service contract administrator? |
|
| A: |
Your service contract administrator is the company that services
your service contract and processes claims. You will find your service contract administrator
named on your vehicle service contract. |
|
| Q: |
What does my vehicle service contract cover? Who do I call for a claim? |
|
| A: |
Contact your service contract administrator for any questions
regarding your coverage or claims. |
|
| Q: |
What does my vehicle service contract cover? Who do I call for a claim? |
|
| A: |
Contact your service contract administrator for any questions
regarding your coverage or claims. |
|
| Q: |
Can Mepco cancel the service contract if I do not want it? |
|
| A: |
Mepco will cancel the service contract only for nonpayment
of premium. If you want to cancel the service contract, you must request cancellation
from your agent or seller in writing. We recommend that you
send a copy of your cancellation request to Mepco and your
administrator. |
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| Q: |
I just cancelled my vehicle service contract. What is my refund amount?
When can I expect my refund? Who will issue the refund to me? |
|
| A: |
If your vehicle service contract is cancelled before expiration, you
may be eligible for a refund. Refunds are calculated by taking the
total amount paid by the customer, minus the earned portion of the
vehicle service contract, minus cancellation fees.
All customer refunds will be paid to you directly from the agent or
dealer. If you are eligible for a refund, you can expect to receive
it six to eight weeks from the date the premium refund is received
by Mepco from the administrator. |
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| Q: |
When do I get my monthly bill? |
|
| A: |
Mepco mails monthly bills to customers 24 days before
the payment due date. You may receive your first monthly bill less
than 24 days before the payment due date. This would only happen if
Mepco received your contract from the contract administrator less
than 24 days before the first due date. |
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