DebtConnect Online Continues Rapid Growth in Q2

DebtConnect Online™, the leading provider of innovative technology solutions to the debt relief industry, continues a strong growth trajectory with another strong performance.  In the 2^nd Quarter of 2014, DebtConnect increased the number of creditors on SmartOffer® by 38%, and on DebtTracker™ by 10% over 1^st Quarter 2014, while increasing new debt relief portfolios by 37%.

Jiunn Tan, President of DebtConnect Online said, “It is very satisfying to see how the industry is embracing this technology.  Our team has received positive feedback from numerous creditors and debt relief providers who have been using the platform and experiencing the benefits.  A few are even re-organizing their work flow to better take advantage of the DebtConnect platform.  This is exactly the type of change we are hoping can improve the efficiency and success of the entire debt relief industry. ”

Effective July, 1, 2014, DebtConnect announced that the self-service version of DebtTracker, EasyOffer and SmartOffer will be offered at no charge to all participants.  “We believe that as an industry, we need to unite behind one platform to ensure that data is being exchanged securely, settlement transactions are conducted more efficiently to help us collectively grow this industry and bring about more debt relief options to consumers in financial hardship.  DebtConnect is committed to this vision and willing to invest considerable resources to make it the industry standard.  In an effort to accomplish that goal, we will encourage even faster adoption by the industry by removing any barrier from using the platform” explained Tan. The free offer includes:

DebtTracker: provides a secured online environment for users to locate common customers, exchange information including the representing firm, update balances due and share settlement requirements.  A single file upload on the platform enables information exchange between all users.  This eliminates the need to create multiple files and file formats between creditors and debt relief providers.

EasyOffer: provides users the technology to present, review and approve settlements online – this eliminates the need for two parties to be available at the same time for a transaction to occur, thereby reducing the cost of offer presentment.  It also speeds up the entire settlement process by removing the manual and paper intensive aspect of settlement including systems generated digital copies of settlement letters.  Creditors save time by not having to create hard copy settlement letters, while debt relief providers no longer have to wait for faxed or mailed copies to confirm a settlement.

SmartOffer: provides the highest level of settlement automation available to debt relief providers by including all of the benefits of EasyOffer and more.  With SmartOffer, debt relief providers can instruct DebtConnect to automatically validate and present offers to creditors for review on a daily basis and whenever there is updated information using their customized offer submission rules.  This significantly reduces negotiations costs by requiring minimal human intervention.

DebtConnect evolved from the debt settlement industry’s growing need for a more secure and efficient platform to connect debt relief providers and creditors. It allows debt relief providers and creditors to leverage the technology and scale of its portal to increase settlements and lower the cost of negotiation interactions. DebtConnect functionality is available 24 hours a day, 7 days a week.

To learn more about DebtConnect, to request a demo, or to take advantage of our free offer for DebtTracker, EasyOffer or SmartOffer, contact Dennis Jordahl at 847-477-8535 (djordahl@debtconnectonline.com) or go to debtconnectonline.com.