Debt Collection is Moving Online: All About Digital Debt Collection
Today, almost anything can be handled online. From banking to ordering pizza, there are platforms for helping companies reach consumers in a fast, easy, inexpensive way: through the internet.
Now it seems that debt collectors are jumping on board the digitization bandwagon.
Credit company Experian recently launched a platform called eResolve. With eResolve, debtors may negotiate and work to resolve their overdue payments, all through the computer.
“The eResolve platform negotiates with the consumer on the client’s behalf and direction to resolve their obligation in a frictionless environment,” says Paul DeSaulniers, senior director for risk scoring and trended data solutions at Experian.
”eResolve is providing a way for the consumer to interact on their terms, at any time of the day or night using a digital channel that is more preferred over the traditional phone call and avoids aggressive collection tactics.”
Most consumers would love the ability to negotiate their debt with a computer. It takes away the embarrassment that many debtors have about their credit problems.
Negotiation via chatbot is also a good way for ethical debt collection agencies to ensure that they are not breaking the Fair Debt Collections Act.
Under the act, debt collectors are not allowed to:
- Publish your private information
- Use profanity
- Repeatedly call
- Call third parties about your debt
- Threaten jail time
- Threaten wage garnishments or lawsuits (except for to inform you about a real intention to sue).
- Make dishonest, false or misleading claims
- Call at inappropriate times of morning or night (usually before 8 a.m. or after 8 p.m.)
Until more creditors offer this debt negotiation solution, most consumers are stuck with enduring debt collection efforts the old fashioned way: endless, harassing phone calls.
You deserve to live without your financial troubles turning your phone into the enemy.
If you are being harassed by a debt collector, don’t let another day pass without taking your life back.
Contact FL Legal Group Law Firm
The attorneys at FL Legal Group can help you consider your options.
We can help defend you from debt harassment. We can also negotiate on your behalf and advise you on whether bankruptcy might be a good option to help to break free from your debt.
Click Here contact us today to see how we can work with you to eliminate debt collection nightmares.