Economic Downturn Drives Growth in Debt Resolution

This historic economic crisis is fueling growth among debt resolution firms as more troubled consumers burdened by unsecured debt seek help in reaching repayment agreements with creditors.

Consumers failing to qualify for the type of creditor concessions provided by routine credit counseling often contact debt resolution companies and law firms, which negotiate with creditors to reduce debt by cutting interest rates and fees and by reducing part of the principal owed. The consumer agrees to repay all or part of the original debt in a lump sum or through a series of payments to the debt resolution company, which retains a portion for its fee.

Debt resolution fees can range from hundreds to thousands of dollars, depending on the debt, say industry observers.

Credit Card issuers are becoming more open to resolving debts through debt resolution firms, as they try to reduce their ratio of charged off loans.

JPMorgan Chase & Co. confirms that when it is directed to do so by its customers, it will enter into negotiations with debt companies.

Credit card issuers growing willingness to agree to feasible "terms set by consumer," which enable borrowers to make monthly payments to the creditor through the debt resolution firm. This differs from the more traditional arrangement of repaying the renegotiated debt in a lump sum.

Almost all credit card debt resolution plans are now handled through installment payments.

Although certain unscrupulous debt firms tarnished the industry's image by charging excessive fees and sometimes failing to deliver services, bringing negative light to the industry.

Self Logix has been actively working to rebuild consumer trust. Self Enrollment Debt System (SEDS) has revolutionized the debt industry by bringing transparency and legitimacy to the industry.

SEDS allows debt burden consumers to choose on there own feasible repayment terms.

Self Logix’s SEDS (Self Enrollment Debt System) is the first system to complete the sales cycle. What most companies don’t understand is that in order to grow, two things are absolutely essential. You need to increase your capacity for sales leads as well as your ability to streamline your sales process. You need to make sure your sales team isn’t spending to many hours on the phone with on prospect during the consultation. Cutting down your consultation time to 10 minutes and delivering your prospects your enrollment agreement within 10 minutes will increase your debt closing ratio. Self Logix’s SEDS (Self Enrollment Debt System) system can help you do this.

Self Logix’s SEDS (Self Enrollment Debt System) is not a CRM type system or backend processing software. SEDS (Self Enrollment Debt System) is a revolutionary Self Enrollment Debt System, which empowers your prospects. SEDS is designed to cut your consultation times to 10 minutes and to deliver the prospect your agreement with the terms you allowed them to choose taking into consideration all your program costs. We work with debt companies on the sales process, so that you can get leads from however your advertising enrolled in your into your solution with minimal manual entry from your sales team. In fact, our SEDS (Self Enrollment Debt System) is designed for speed, so that your sales agent can take a lead (prospect) and enroll them into your solution within 10 minutes.

Not only do you streamline your sales process, SEDS (Self Enrollment Debt System) also has the tools you need to run a successful sales driven debt business. We offer built in calculations, sales scripts, automated e-mail, and we build your sales contract right into the system. Your sales agents can send out contracts with a couple of clicks of a button. With so many tools it’s easy to see why so many debt companies trust us with their business.

Additionally, Self Logix has integrated with DocuSign to help our clients get digital signatures without leaving the SEDS (Self Enrollment Debt System). Self Logix has closed the loop between front end lead management and back end processing. SEDS (Self Enrollment Debt System) provides customers with custom calculations, your agreement will be built in so that when the consumers is finished with the consultation they receive there agreement ready to be executed. Self Logix’s SEDS (Self Enrollment Debt System) is a turnkey debt sales workflow.

Self Logix’s SEDS (Self Enrollment Debt System) delivers your agreement to your prospect within 10 minutes completely filled out accurately and ready for signature, so that deals get closed in less time. You will be able to run an entirely paperless office with our built-in agreement. Our bi-directional integration with DocuSign gives you the ability to close deals over the phone. Stop waiting on customers to send their contract back in the mail. Stop the prospect from giving your sales team excuses. Stop a lazy sales team from giving you excuses. Imagine being able to strike while the iron is hot, enrolling the consumer in 10 minutes of getting on the phone with them. Self Logix’s SEDS (Self Enrollment Debt System) makes that possible.