Hidden Collection Opportunities: Uncover settlement opportunities by accessing the most up-to-date information about debtors enrolled in debt settlement programs with the industry’s most advanced web-based settlement system that significantly lowers the cost of collections and increases liquidation rates.

Using CONCERTO 3.0, creditors, debt buyers and collection agencies can immediately locate hard-to-find debtors, analyze the pre-approved savings balances of individual debtors, submit lump sum or term settlement offers to multiple debt settlement companies simultaneously, and monitor or evaluate accounts for future settlement opportunities.

Top Reasons Some ARM Companies Don’t Work with Debt Settlement Providers

by Jeff Dickey April 29, 2013 (Be the first to respond)

In each of the past two years, insideARM.com has conducted a survey of the ARM industry to better understand how these companies are utilizing debt settlement providers to increase collections. In each of these surveys, roughly 50% of survey respondents indicated that they now engage debt settlement providers as part of a strategy to locate collection accounts and increase collections through the use of these third party service providers. While this adoption is significant, still, roughly half of the firms responding to the surveys each of the past two years indicated that they still did not work with debt settlement companies as part of their collection strategy.

Investigating Complaints Against the Debt Settlement Industry

by Jeff Dickey April 12, 2013 1 Response

We here at Persolvo were very interested in the process insideARM used, and the conclusions it reached in its investigation into the FTC’s complaints data. The debt settlement industry finds itself in similar waters. Historically, the debt settlement industry has enjoyed a less than stellar reputation in the eyes of most ARM professionals. While that’s softening a little, in our most recent survey of ARM professionals, over 30 percent of those who do not use a debt settlement company as part of their complement of services said it was due to “legal concerns (FDCPA) about dealing with third parties.”

Preparing for a CFPB Examination: Don’t Overlook Your Obligations to Audit Service Providers

by Jeff Dickey November 7, 2012 1 Response

There has been a great deal of prognostication on this site and others as to what impact CFPB supervision will have on the ARM industry. One thing that hasn’t been covered is the impact on service providers to the larger market participants.

The CFPB Complaint System: An Example of Efficiency and Effectiveness

by Jeff Dickey September 5, 2012 1 Response

For more than a year now, ARM industry participants have been reading about initiatives by the CFPB to further regulate various aspects of the financial services industry. One of these initiatives was to create a new tool — an online complaint system — to gather consumer complaints.

I have often wondered how effective this type of online system was for consumers who had initiated a complaint. Well, I recently got a chance to experience the system firsthand…as a consumer.

Implementation of Increased Security and Data Control Policies by Debt Settlement Companies Would Result in Greater Adoption by ARM Companies

by Teresa Dodson April 16, 2012 (Be the first to respond)

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.

More Collectors Working with Debt Settlement Companies, Part II

by Edward Fontaine March 13, 2012 (Be the first to respond)

Yesterday, we looked at several reasons why collection agencies did not currently work with debt settlement companies. Today, we want to look at what might compel an agency to change its mind. In order to confirm the reasons stated above for NOT embracing debt settlement companies to recover debt, insideARM.com asked the following question, proposing the use [...]

More Collectors Working with Debt Settlement Companies

by Teresa Dodson March 12, 2012 2 Responses

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 [...]

Persolvo COO Named to Board of the American Fair Credit Council

by Mike Bevel February 22, 2012 (Be the first to respond)

Persolvo Data Systems, a leading provider of web-based settlement software and analytics tools designed to locate, identify and settle accounts enrolled in debt settlement programs, announced today that The American Fair Credit Council (AFCC), the leading association of consumer credit has named Teresa Dodson, Chief Operating Officer of Persolvo, to its executive board. Ms. Dodson [...]

Who is Utilizing Debt Settlement Companies to Collect More Debt?

by Teresa Dodson January 31, 2012 (Be the first to respond)

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.

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