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.
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:
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.
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.
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.
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.