AmeriWorks Financial Services, Inc. Announces Launch of StaBILLity Payment Solutions

SCIOTA, Pa., Dec. 7, 2011 /PRNewswire/ -- AmeriWorks Financial Services, Inc., (Pinksheets: AWKS) has today announced the launch of a new financial product called StaBILLity™ Payment Solutions using a driver license number or State ID card ("driver license") to identify the consumer. StaBILLity™ provides medical, professional and retail businesses ("Providers") with an alternative consumer risk score based on the analysis of consumer lifestyle variables, unlike traditional credit scores. The resulting risk score allows AWKS to recommend a credit limit displayed in an on-line Client Profile accessed by participating Providers using a consumer's driver license number. Once approved by the Provider, StaBILLity™ establishes, manages and collects payments through an extended payment program on behalf of the Provider. A consumer must have a valid driver license and be a pre-approved "Member" of the StaBILLity database before they can apply for extended credit with participating Providers.  

To use their StaBILLity™ Account, a Member must patronize a participating Provider; request an extended payment plan for the balance due on goods or services purchased and; present their valid driver license at the point of sale. The Provider inputs the driver license number at the StaBILLity™ website to view the Member's Client Profile on-line. If the Provider approves the extended payment plan, the Member signs the sales receipt and the transaction is complete. At the end of the business day, the Provider electronically transmits six transaction details to StaBILLity™: (1) the balance due; (2) the monthly payment date; (3) the term of the loan; (4) the driver license number; (5) the purchase date and; (6) a description of the goods or services. Once StaBILLity™ receives this information, a recurring debit is set-up to collect the principal with a maximum APR of 15% from the Member and transfer it to the Provider each month until the extended payment plan is satisfied.     

It is estimated that there are 70 million people in the United Sates that are not bankable.  This means they have no credit and/or cannot obtain credit. The StaBILLity™ program was designed to provide consumers without credit or the cash to pay for goods or services with the opportunity to make consumer purchases using StaBILLity™ extended payment plans offered by participating Providers. At the same time the program offers participating Providers a way to attract new consumers using this StaBILLity™.  

Participating Providers will pay a one time setup fee of $495.99 and a monthly account management fee of $30 for up to 100 consumer accounts under management in the StaBILLity™ database. Providers will also pay a monthly funds transfer fee of $1.50. Consumers must pay a $29.95 application fee if approved for the program which is electronically debited from their bank account. In addition, consumers also pay a $1.50 monthly membership fee to remain in the StaBILLity™ database and a monthly funds transfer fee of $1.50.

Once a Member has made six consecutive payments in a StaBILLity™ program, that loan becomes performing debt. AWKS plans to offer for sale performing debt portfolios to investors, finance companies and banks that may purchase the debt portfolios for the interest return and have AWKS continue to service the loans. If purchased, participating Providers who are the beneficial owners of the extended payment programs, would be paid in full with interest up to the date of sale. In the event of a default, AWKS is also a licensed and bonded collection agency and can collect the accounts in default.

The Company has been introduced on December 1, 2011 and is under going some minor software adjustments. The Company has developed two websites for StaBILLity™, one for Providers at www.stabillitypay.com and; one for consumers at www.ezfinanceusa.com.  AWKS is a public company trading in the OTC Pink Sheets with the symbol AWKS. For more information about StaBILLity™ contact Louis Perosi, Jr., President of AWKS at 1-888-282-2802.

This press release is not an offer to sell or a solicitation to buy the shares of stock, which offer to sell or solicitation to buy can only be made through a prospectus or an offering memorandum.  For more information, contact ADW and the contact person shown above.

SOURCE AmeriWorks Financial Services, Inc.