Debt Resolve brings together delinquent borrowers and their lenders (or servicers) over the internet to resolve outstanding debt. Debt Resolve's patented, automated, online dispute resolution system allows you to invite customers to resolve, negotiate, settle or pay their debt online, in private using blind bidding, with instant results. The system works at all stages of collection, from 1 day past due to post-charge-off, and on all kinds of portfolios. And because Debt Resolve works on an ASP model, the only involvement needed from your IT department is handing off simple data files.
At your invitation, your delinquent customer logs into a website - branded in your name - and confirms contacts information.
A series of simple-to-use screens is presented to the debtor. For early-stage delinquencies, DR Prevent™ offers a quick and convenient way for customers to self-cure online. For late-stage and charged-off accounts, DR Settle™ features a patented bidding process. The debtor gets three chances to submit an offer and settle the account. Based on strategies, the offers are compared to treatments you have set right from your desktop. For collection agencies and collection law firms, our DR Collect™ solution combines elements of DR Prevent with DR Settle and provides full file integration automation, making the implementation process quick and easy.
When the debtor makes a successful resolution payment, it's collected using your electronic payment gateways, and deposited directly into your account. In the event an agreement is not reached online, you can queue up accounts for efficient follow-up using the new information you have received online.
Your customer logs into a website branded in your name, with a personal invitation code.
The customer chooses from payment options made available to them, or makes an offer for settlement or payments.
Payment is collected online and deposited directly into your account.