Company Launches Subprime Collections Tool
Debt Resolve, Inc., a collections services company, said Wednesday that it has launched DRâ€“Default, an online tool for collecting defaulted mortgage and automobile loans. According to the company, DRâ€“Default was created in response to the rising default rate in subprime loans, and is easily integrated into clients' collection systems. In addition, clients may authorize collection agents to use this product, or place their accounts with Debt Resolve's wholly-owned collection agency, First Performance Corp. First Performance is a collection agency that, among other collection activities, collects defaulted mortgage and subprime debt. â€œIt is our experience that banks and other lenders want to treat their customers fairly and are concerned about the rising default rates," said James Burchetta, Debt Resolve chairman and CEO. "DRâ€“Default will allow debtors to access a secure website to pay and settle their defaulted debt, and in some cases, receive alternative options to cure the default. DRâ€“Default will assist in containing the damage caused by the recent increase in defaults within the subprime market.â€? For more information, visit http://www.debtresolve.com.