Governance, Risk & Compliance

Governance, Risk & Compliance

June 16, 2011

Collections Solutions Companies Debt Resolve and CDS Announce Partnership

Debt resolution and settlement solutions provider Debt Resolve, Inc. and collections solutions provider CDS Software (News - Alert) have announced they have entered into a strategic partnership in which CDS will market Debt Resolve's DR Settle to its clients. Simi Valley, California-based CDS Software provides a collections product called CollectOne, and Tarrytown, New York-based Debt Resolve (News - Alert) offers DR Settle, an online bidding system for the resolution and settlement of consumer debt, as well as a collections and skip tracing solution tailored to each stage of the collection and recovery processes.

DebtResolve's solution was designed to enable delinquent customers to find the lowest-cost channel for resolving their delinquent accounts. Customers can be offered the opportunity to self-cure, negotiate with the company that owns the debt or finalize payment arrangements. Customers can use the system at any time of day, in any language, and without using valuable live agent collections resources. The solution was designed to collect more debt and reach more delinquent customers, all at a lower cost than traditional methods.

Said David Rainey, Debt Resolve's President and CFO, “I have known CDS' principals since 2007 and have enjoyed working with them on a number of business matters. We are happy to formalize our work together in this marketing partnership. CDS has a strong commitment to bringing its clients the best available technology, and we are pleased to provide a web collections portal for them.”

“We are pleased to work with a well known company in the collection industry like CDS,” said Mike Cassella, Debt Resolve's Chief Operating Officer. “Our agreement with them further strengthens our initiative to partner with recognized industry players to rapidly increase adoption of Debt Resolve's different modules. CDS is an excellent partner for us.”

CDS Software's CollectOne product is a single-source debt collection solution serving an array of customers from start-up collection agencies to Fortune 100 companies. The solution was designed to help companies collect on a broad range of debt categories including consumer, healthcare, legal, government and commercial.

Jeff Hieber, Strategic Partner Manager for CDS Software, spoke of the new partnership in terms of improving the service offerings to the companies' mutual customers. “It's a great pleasure for us to add Debt Resolve to our stable of partners,” said Hieber. “Their commitment to providing best in class technology is second to none, and we're confident this partnership provides our mutual customers with a Web collections strategy that will generate great results in their collections operations,” he said.

Tracey Schelmetic is a contributing editor for TMCnet. To read more of Tracey's articles, please visit her columnist page.

Edited by Rich Steeves

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