Online Resources Adds New Settlement Feature to Web-based Collections

Online Resources Corporation, a leading provider of Internet financial services, today announced that it has enhanced its award-winning online collections service with an expedited, ?best offer? feature that ensures that settlement offers by delinquent account holders are maximized.

Online Resources Collections functions as a ?virtual collections agent? that provides card issuers, agencies, debt buyers, holders of consumer loan portfolios, and creditors across multiple industries with a fully branded, 24×7 online environment. Delinquent account holders can apply for payment programs, with rules specified by the creditor or agency, enabling them to privately and conveniently self-cure their delinquent status.

Account holders sign on to the collections web site and opt to make their single “best offer” for a settlement plan. The system may accept this offer based on rules preset by the creditor or agency. If the offer is not accepted, the system counter-offers with a predetermined settlement amount. This ensures that the collector receives the maximum amount using this one-step process with the delinquent.

?We believe that when you have a willing, delinquent account holder who is in-session at the collections web site, it is critical to keep the payment process as simple as possible,? said Bill Kinnelly, president of Online Resources? Card & Credit Services Division. ?This Best Offer feature keeps the settlement process short and provides the creditor the best possible outcome.?