Teresa Dodson serves as Managing Partner/Chief Operating Officer of Persolvo Data Systems. Persolvo Data Systems has been successful at automating the settlement process between debt settlement companies and Creditors, Collectors and Debt Buyers.
It’s difficult to avoid the media attention given to the importance of data security and the protection of consumer information. And given the damage that can occur and the potential financial losses incurred by all parties, maybe that’s a good thing.
In the recent insideARM.com Debt Settlement survey, over 53% of the ARM industry company respondents indicated that they were now working with debt settlement companies to increase their collections. While this number appears to demonstrate a clear adoption of this channel by the industry, insideARM.com wanted to know why roughly half of the collection industry [...]
Recently, InsideARM.com conducted a survey of the ARM industry to better understand how creditors, collectors, debt buyers and legal recovery firms were levering the newly regulated debt settlement industry to improve collections. With 649 ARM professionals responding to this survey, one thing that was immediately apparent is that the debt settlement is on the radar of ARM professionals.
The debt settlement industry came into its own in 2000, and has grown to over 2,000 companies in 10 years. In the current economic environment, more consumers are having to juggle greater debt loads over several platforms – primarily credit cards.