Debt Buyers & Collection Agencies
In these challenging economic times, debt buyers and collection agencies are under increasing pressure to recover more debt at a lower cost. These challenges, however, directly contrast the diminished ability of many debtors to resolve their outstanding obligations. As a result, many debtors have turned to debt settlement companies as a way to meet their financial obligations.
Debt buyers and collection agencies can now use Persolvo's Web-based settlement application to uncover hidden settlement opportunities that previously were not visible to the organization. Utilizing Persolvo's extensive database of settlement savings account data, debt buyers and collection agencies can locate these highly-liquid settlement opportunities, and submit settlement offers directly through the Persolvo Settlement portal.
LOCATE
First, debt portfolios are scrubbed against Persolvo's extensive database of settlement savings accounts. The Persolvo system then displays matching accounts that have been identified in the Persolvo database.
ANALYZE
The debt buyer or collection agency then runs multiple settlement campaigns for groups of accounts to optimize the potential settlement value of a portfolio. Accounts may be settled individually using a predetermined settlement threshold for each account, or grouped and settled to reflect an aggregated settlement threshold. The Persolvo system calculates the settlement percentage and total dollars recovered.
SETTLE
Once a settlement campaign has been fully optimized, hundreds of settlement offers can be transmitted to multiple debt settlement companies with the click of a mouse. Once these offers are reviewed and accepted, settlement funds are immediately remitted by the debt settlement company.
The Persolvo system identifies highly-liquid settlement accounts, uncovering lost settlement opportunities, that until now, were not easy to locate or analyze. Exposing these hidden settlement opportunities using the Persolvo system will significantly lower the cost of collection and increase overall liquidation rates
