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 company achieved a number of record milestones in 2011.
For the year ending December 31, 2011, Persolvo grew revenues by 278% over 2010 and increased the amount of debt settled by 237%. In addition to successfully deploying their first top 5 credit card issuer in 2011, the company more than doubled the number of debt buyers, collection agencies and legal recovery firms utilizing Persolvo’s technology.
In addition to the growth attributed to its client base of creditors, collectors and debt buyers, Persolvo also saw strong demand from debt settlement companies that, for the first time, find themselves operating under a regulated model banning advanced fees and outlining strict guidelines on how companies can market their services to consumers. Being forced to operate in a strictly performance-based manner, debt settlement companies are looking for every advantage to settle more debt for their customers and do so in the most secure, efficient and cost effective manner possible.
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