Debt Resolve (OTCBB: DRSV) provides lenders, debt buyers, collection agencies, collection law firms and hospitals with a patent-protected online bidding system for the resolution and settlement of consumer debt as well as a collections and skip tracing solution that is effective at every stage of collection and recovery. The company also provides web-based payment platforms for the financial and healthcare industries.
In The Huffington Post, reporter Alexander Eichler wrote an article about a recent report from the market research firm Marketdata Enterprises, which showed that "debt collectors have been adopting increasingly unpleasant tactics...Collectors are said to be cursing, threatening and insulting the people they're trying to get money from. And in many cases, they're telling lies that violate the law."
Part of this trend can be attributed to the fact that "the collection field has become more crowded lately" with consumer technology at a point "where it's easy to run a debt-collection agency from your living room. And with so many Americans strapped for cash, collectors are often trying to squeeze blood from a stone." Read more at The Huffington Post.
Debt Resolve does not buy debt but works as a pure play technology company with banks, creditors, law firms and collections agencies to help them more efficiently recover funds. Based on a study of 25,000 accounts with 36-month old debt and a 0.4% online settlement rate, the firm offers a 6-to-1 return on investment on its solutions. And, this number increased to as high as 82-to-1 for original issuers once consumer fees were included. The result is a proven lowest cost channel for agencies, law firms and issuers to collect on their debts. The company has significant market potential within the $15 billion and growing industry. Read more at DebtResolve.com.