Our intention is to provide our customers tools and support to securely and efficiently manage their account.
This document contains details and information about Account Servicing and Collections at Wilco. We created this document to answer frequently asked questions, clarify the account servicing process, and re-state some key points included in our agreement.
Please review the attached document and reach out if you have any additional questions. Note: all policies are subject to change.
Sincerely,
Traci Willis
Accounts Manager
605-223-4708
[email protected]
Account Management System
Your account is tracked using an online account management system called Geekpay. You can log into GeekPay at any time to make an unscheduled payment and check the status of your account.
What if I need to change or add my method of payment?
You can log into GeekPay at any time and update or delete your payment information. You can also email [email protected] with any questions, or call our collections number at 605-223-4708.
What if my automatic payment fails?
If your automatic payment fails to process then the backup method (if one was provided) will be authorized automatically. If this also fails, then GeekPay will send an email and a Wilco representative will also notify you.
At this point you can make the payment in one of the following ways:
Log into GeekPay and make an unscheduled payment. This will ask you to update your information and allow for payment to proceed as before with the new information.
Go to our website and pay with a debit or credit card: wilcolandllc.com/make-a-payment
Send a check or money order to
Wilco LLC
2601 S Minnesota Ave, Ste. #105-222
Sioux Falls, South Dakota 57105
If you are not caught up on your payment by the time the next payment is due, GeekPay will automatically charge whatever is owed for both months.
What if I make additional payments to get ahead of schedule, will autopay continue each month?
Yes, even if you make a large payment(s) that cover multiple months, automatic payments will continue as planned unless otherwise discussed and authorized by a Wilco representative.
Can I make payments over the phone?
For your security, we will not take payments over the phone. You can always go to our website and make a payment with a debit or credit card at wilcolandllc.com/make-a-payment.
Can I make partial payments?
We can accept partial payments, however any payment beyond what is due for the month will be applied to the final total on the note balance, monthly payments will continue as regularly scheduled. For clarification or questions regarding this subject, please contact Wilco at [email protected] or by phone at 605-223-4708.
Late Payments
Payments are due on the agreed upon date stated in the contract. However, there is a 15 day grace period on your account.
Once the 15 day grace period expires, a late charge of $25 will automatically be applied to your account. If you are still not caught up on your account after 30 days a Notice of Default will be sent to you via email and certified mail. At this point, you will have 30 days to get the outstanding payment in. If this does not happen, the contract will be considered Terminated and a Notice of Termination will be sent. At that point, we reserve the right to take back possession of the property and retain all payments.
Restructuring my Account
If at any point you want to discuss options for restructuring or refinancing your installment plan, please contact [email protected] and we will try to work out a new payment plan.
Taxes
We charge an estimated amount for taxes based on the previous year’s tax information, unless otherwise discussed in the sale of the property. Taxes can change over time, therefore, if we do not collect enough throughout the year, we will adjust the monthly tax collected to make up for this, and if we collect more than what was due in taxes, over the course of a year, we credit your account with the excess amount that was collected.
HOA/POA Fees
If your property has HOA/POA dues, similar to taxes, Wilco will also pay those annual or monthly dues. To do this, Wilco typically includes this in the additional monthly charge for estimated taxes/fees. Monthly taxes will be adjusted annually to account for the taxes and fees paid. You will be notified of any changes that take effect.
Building/Development/Use
Contact [email protected]
Customer Contact Information
You are responsible for keeping your current contact information on file with us. This includes current mailing address, phone number, and email. For any updates or changes, please notify us at [email protected]
What Happens After Final Payment?
Once your loan has been paid in full, we will begin the process of officially transferring property ownership into your name. You’ll receive an email from our title manager for you to confirm/update the vesting information and also review the deed before we move forward with transferring ownership, with the county, in your name. We will make sure we walk you through this stage when the time comes. After we’ve confirmed with you how you’d like to take title to the property, we will move forward with the recording of the deed in your name. Depending on which county you’ve purchased land in, you’ll either receive notification that the deed has been recorded electronically or you’ll receive a closing packet in the mail from us, that includes simple instructions for recording the deed, that you’ll need to complete on your own as the last step in to successfully take title/ownership of your purchase.
It is your responsibility to make sure we have your most current contact information for a smooth ownership transfer and that you’ve reviewed the deed and vesting information sent to you during this process. Upon completing the recording, we always suggest that you follow up with the county in 7-21 days to verify the deed has been successfully recorded.
Questions, concerns, comments?
Please contact [email protected] or call 605-223-4708.