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  • Debt Settlement

Debt Settlement Account Servicing

New regulations adopted by the Federal Trade Commission in October 2010 helped curb the deceptive and abusive practices of debt settlement companies, reducing aversion to the industry and increasing consumer enrollment in these programs. The continual growth in settlements ($3.5 Billion face amount in 2011) has garnered attention from creditors and debt buyers, motivating some to evaluate servicing options to help capitalize on the high liquidity of this asset class. For these organizations, American InfoSource (AIS) can provide an additional set of tools that simplifies the debt settlement process, lowers your staffing costs and agency fees, and maximizes returns from this channel, pre or post-write off.

Full Service Debt Settlement Solutions

Regardless of what you or your organization thinks about debt settlement, incorporating strategies that address this populationof accounts will impact your recovery rate and costs.

AIS seeks to provide the financial industry with the data and services necessary for managing the population of debt settlement accounts that reside in creditors' existing portfolios. AIS can identify these accounts with an industry-best debt settlement database and deploy a servicing strategy to maximize the returns from this population of accounts.

Financial institutions might choose to:

  • Routinely scrub and place debt settlement accounts with AIS for resolution.
    This can be done pre write-off to reduce losses, in an expedited manner to increase recoveries at a lower rate than what istypically paid to a collection organization, or simply to reduce internal costs while AIS does the heavy lifting.
  • Perform a pre-sale scrub to either sell or service this population of accounts.
    Debt settlement accounts attain higher rates than what might be expected in the general sale.
  • Scrub accounts in the processing waterfall, prior to forwarding for legal.
    Debt Settlement, in most cases, will provide higher returns at less cost than a legal strategy.
  • Utilize pre-delinquency scrubs as a leading indicator for delinquency and future write-offs.
    Large issuers carry debt settlement consumers in their performing portfolio and AIS can show you where.

Simply put, if your organization chooses to address this population of accounts in your portfolio, AIS can provide tools that allow credit issuers and debt buyers to focus on the more difficult collection populations and reduce costs for these debtsettlement accounts.

Superior Database Capabilities

Utilizing the most comprehensive database of debt settlement account information, AIS can scrub your inventory to pristinely identify highly recoverable settlement opportunities that would go otherwise unnoticed. Remember, consumers are counseled not to tell creditors they are enrolled in a program.

  • Database continuously updated with accounts from over 400 DSCs
  • Proprietary SmartMatch technology provides superior matching logic
  • Industry-Leading Database + Best Matching Logic = Maximum Returns

Fast, Secure Arms-Length Transactions

Once identified, AIS will service matched accounts at a contingency fee more reasonably priced than traditional debt. Leveraging direct relationships with more than 400 debt settlement companies, AIS can submit, negotiate and follow up on settlements in an expedited fashion, allowing you to accelerate accounts into payment programs and transact in less time.

  • Service eliminates inefficiencies and limitations of in-house processes
  • Majority of accounts liquidate over the first 3-5 months of agreement (60%)
  • Monthly liquidation projections provided after initial 90-day servicing period

Unrivaled Commitment to Brand Protection

AIS touts one of the most secure and compliant operations in the industry. We are proud of our auditing and compliance accomplishments and confident in our ability to surpass the brand protection expectations of our clients when servicing accounts in debt settlement.

  • SOCII and PCI compliant operations
  • Operational design linked to the elevated scrutiny of financial services industry
  • Ensures compliance with FDCPA regulations

  

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