By Improving the Collections Process, PaymentVision Settlement Offers Can Help Agencies and Law Firms Achieve Efficiencies and Boost Their Liquidation Rates.
JACKSONVILLE, FL, April 12, 2023 /24-7PressRelease/ — Payment Vision, a leading provider of collections industry payment solutions, is partnering with debt collections to enhance customer service and outcomes.
“Our newest product, PaymentVision Settlement Offers, was specifically designed to improve the collections process for agencies, law firms and their creditor clients, and consumers,” says PaymentVision’s Agnes Keller, VP of Sales and Partners. “By leveraging Settlement Offers, we’re confident debt collection agencies and law firms can achieve meaningful efficiencies and significantly better liquidation rates.”
Settlement Offers allow software providers like Vertican Technologies, who provides the legal collection industry with best-in-class technology, to create individual settlement agreements at the consumer level. By leveraging this feature in Vertican’s Collection-Master and Q-LawE software products, law firms can then collect on those agreements through PaymentVision’s easy-to-use PayWeb360 portal.
• Creditors set the offer parameters and terms at the consumer level: lump sum, payoff plan, or payoff plan with a down payment.
• Provide disclosures configured at the creditor level.
• Obtain an electronic signature.
• Collect payment information upfront with an automatic payment schedule.
• Enable customers to view an active settlement, whether agreed to inside or outside the system.
A link to the Settlement Offer website can be included in collections letters sent to consumers, making the product a perfect solution at tax time when many people are looking to use their refund to pay off debts. The website also handles all follow-ups, reducing collections calls and freeing staff from many accounting tasks needed to service the debt.
“While many consumers are reluctant to interact directly with debt collectors, they’re often more willing to resolve debts when given access to self-serve options,” says Angel. “So in addition to the efficiencies they’ll realize, Settlement Offers also provides agencies a path to significantly improved liquidation rates.”
To learn more about PaymentVision Settlement Offers and our partnership, please watch this video.
PaymentVision provides a full suite of payment processing solutions for the collections industry, including the best software to manage billing and process payments online, by phone, with a mobile device, via interactive voice response (IVR), or in person.
With over 70 years of combined experience in the payments industry, we offer clients a wealth of knowledge and experience. At PaymentVision, we’re committed to providing our clients with access to the latest in innovative payment processing technology, more payment processing channels, and superior customer service.
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