Digital debt collection allows Georgia consumers to resolve delinquencies without talking to an actual person. This is a relatively new technology that was introduced in 2014 by a firm named TrueAccord. About 1.4 million consumers nationwide have used the TrueAccord platform to pay past-due debts. Now, major credit bureau Experian has launched its own self-service digital debt collection platform called eResolve. So it looks like taking the debt collector out of the debt collection process is gaining popularity. Could this non-invasive option eventually put an end to debt collector abuse in Georgia?
What Georgia Consumers should Know about Digital Debt Collection
From a consumer perspective, one of the hardest things about dealing with a debt collector is having awkward exchanges with someone who knows you have a past-due debt. It just gets a thousand times worse when the debt collector is rude, hostile, or abusive. However, digital debt collection allows Georgia consumers to privately handle their debt. They can acknowledge emails on their own time, explore payment options, and monitor their progress, all without needing to speak with anyone.
Here’s an example of how eResolve might work for an imaginary consumer name Michael who lives in Savannah, Georgia:
Michael lost his job and stopped making payments on a credit card, so the unpaid balance went to debt collections. One day, Michael receives an email containing an offer from a debt collector. He is told that he only has to pay 90 cents on the dollar if he pays the debt off in full. He doesn’t respond, so in a few days he receives a second email offering a debt settlement of 80 cents on the dollar. With the second offer, payments may be spread out over three months with zero interest charged. This time, Michael does respond, and he accepts the debt collector’s offer.
Michael is assigned a reference number and directed to a website where he can log on and make payments. He makes all of his payments on time, and clears the debt in three months. The whole process is wrapped up without a single call from a debt collector. Of course, Michael is one type of consumer. What about the other types? How will digital debt collection platforms target more evasive Georgians?
The Flexibility Perks of Digital Debt Collection in Georgia
Sure, not every debtor in Georgia will respond favorably to digital debt collection, but this type of platform is very adaptable. Debt collection agencies can tailor their emails to match different consumer personalities. Companies send out humorous emails to some consumers, while others receive compassionate or encouraging messages.
By tracking engagement with the emails, agencies can also monitor consumer behavior. For example, if a debtor has been clicking the link to the payment page often, it’s likely that they are considering their options. At this point, the debt collector might send a follow-up text message to seal the deal.
Another build-in perk of digital debt collection is that it allows debt collectors to reach consumers when they are available. According to TrueAccord’s data, most of their interactions with consumers happen very late at night, when it would be illegal to make phone calls. The platform makes it possible to catch the person who’s up at 2AM, surfing the net. This is the kind of flexibility that’s missing in traditional debt collection tactics.
How Georgia Consumers should Deal with Existing Debt Collector Abuse
A rep from TrueAccord claims that his company gets 66% fewer complaints than traditional debt collection agencies. This number is encouraging. Naturally, not every consumer will respond well to debt collection emails or text messages. There is always the chance that the wording of a message might cause offense. Also, some Georgia consumers will simply ignore every communication attempt from a debt collector, regardless of the wording. Yet, there is a great deal of potential in the digital debt collection platform.
Right now, though, most debt collection agencies are still using the old, standard tactics. This means that the majority of debtors are currently dealing with people, not computers. Not every debt collector in Georgia is abusive, but there are plenty who commit violations.
You don’t have to put up with debt collector abuse. The Fair Debt Collection Practices Act (FDCPA) protects your rights. So if a debt collector is calling you at all hours, threatening you, or using inappropriate language, you can make them stop.
At Credit Repair Lawyers of America, we remove errors on consumer credit reports for FREE. We can also put an end to debt collection attempts that violate the FDCPA and Georgia consumers pay nothing for this service either.
The Free and Legal way to End Debt Collector Harassment
Debt collector harassment is bad enough, but when incorrect collections make it on to your credit reports and bring your credit score down, that’s even worse. At Credit Repair Lawyers of America, we’ve been cleaning up credit reports for consumers since 2008 for free. How do we do it? All of our fees come from the defendants in settled cases. This is why our clients pay nothing for the work we do.
Let’s start the conversation about what we can do for your credit. Set up your free consultation today by calling Attorney Gary Nitzkin at (404)591-6680 or sending him a message through our contact page.