- September 4, 2018
- Posted by: MaxDecision, Inc
- Category: Analytics, Credit Bureau, Credit Reporting, Credit Risk Modeling, Debt Resolution, Debt Settlement, Direct Mail, FinTech, Innovation, Marketing Analytics, MaxDecisions, Risk Management
MaxDecisions, Inc. Releases 5th Generation Debt Settlement Response and Conversion Model.
In this ever-changing world of machine learning, artificial intelligence and abundance of consumer credit information, debt settlement or debt resolution industry is become ever more advanced with ways to educate and resolve consumers with issues fulfilling their debt obligations.
We are at an all-time high in terms of consumer debt since the Great Recession of the past decade. Ever since the market downturn, the United States economy has experienced an unprecedented recovery. Job opportunities, wage growth and home equity are at an all-time high.
Similarly, the availability, access and abundance of credit have been free-flowing for the past five years. With the advent of online lending (prime, near prime, subprime and future prime), consumers can get up to $75,000 worth of personal loans all over the internet.
However, with the ever-changing economy, from time to time, consumers are having a difficult time managing their credit. And thus an industry of financial educators, debt resolution consolers and attorneys that are specialized in getting consumers back on the right path are now using sophisticated technology and analytics to serve this ever-growing need.
There are over 10 million United States consumers that are in some forms of default or hardship that needs help. Often, they don’t know what they are eligible for and where they can get the much needed rescued to get their much-needed help.
Consumers facing 30, 60, and even 90 days of past delinquency on their personal loans, credit cards or any other forms of a line of credit can get immediate help with one of the many debt resolution companies helping millions of consumers to get out of debt.
Getting harassed by your creditors, credit card companies and even the threat of a lawsuit is never the right solution for average Americans that are working to make ends meet. Debt resolution or debt settlement companies are customer oriented, user-friendly and completely legal to help to negotiate, save and resolve your debt burden in an expeditious manner. They often have a work out program that often consolidates all of your debt with one savings program. They will negotiate on your behalf and the best outcome to get yourselves back on track with your personal and financial life.
Some debt settlement or resolution companies often offer a lending program to get you back on track and rebuilt your credit within a year.
MaxDecisions, Inc. a modern analytics firm has been working on the forefront of the debt resolution industry to get the much-needed help to those that are either behind on their payment or having difficulties managing their debt.
We are delighted to release the 5th generation of direct mail marketing response and conversion models for many of the debt settlement, debt consolidation and debt resolution companies from coast to coast.
MaxDecsions, Inc. developed our fifth generation of debt settlement model based on over $100 million pieces of direct mail and targeting debt load over a few thousand over $50,000 plus worth of consumer debt. We have developed separate model segmentation and strategies to help debt consolidation companies to scientifically target and offer their services to the consumer with different debt obligations and situations.
Why are statistical models with machine learning capabilities important to the debt settlement industry? It’s simple. Credit, banks and online lenders have now employed hundred of data scientists, statisticians and artificial intelligence plus machine learning experts to actively seeking those that are in need of additional credit or consolidating their debt.
The debt settlement industry deserves the same treatment when it comes to helping consumers with access to financial education and options to resolve their debt if and should they be in a difficult situation pay off their debt.
Getting overburdened with debt is not a crime or is it a stigma. We all have had times trouble with paying our credit card or personal loan payments off. And paying minimum payment with credit cards further drives average consumers further in debt. Debt resolution might be worth exploring as an alternative to get back on track.
MaxDecisions, Inc. 5th generation model is statistically sound and has been tested with over 20 debt settlement companies that employ different debt resolution technics to help consumers get out of debt. Whether it is the legal model or performance model, MaxDecisions, Inc. 5th generation debt resolution model works across the board.
MaxDecisions, Inc.’s biggest differentiator is our experience working with the debt settlement industry. Our executives have years of experience working with the debt settlement industry.
We understand the needs of the front end (marketing and enrollment companies) as well as the backend (debt resolution companies) and those that offers full, an end to end solutions.
Our response and conversion models seek out those who are most likely to take advantage of debt resolution offerings and likely to convert into a debt settlement program. Our models also seek out those that have a minimum likelihood of dropping out of a debt settlement program.
As consumer debt approaching over one trillion dollars, we see an ever increasing needed for companies that actively help consumers to resolve their debt obligation and move on to their next stage of financial life.
In 2007-2008, when consumer debt was at an all-time high, the debt settlement industry was responsible to help consumers resolve 20% of their debt. We predict that over $200 billion consumer credit or consumer debt in the next 2 to 3 years will be resolved by
debt settlement companies.
Debt settlement industry is the perfect solution between charging off on a credit card or personal loans and bankruptcy or worse litigation from creditors. It’s a win-win satiation to everyone involved. The consumer gets to get back on their feet, the creditors get a good portion of the principal back as oppose to a complete loss.
MaxDecisions, Inc. is a proud sponsor of AFCC, America Fair Credit Council and RevCon, two of the major debt settlement conferences in Las Vegas. We hope to see you there and build an ecosystem that ultimately benefits the entire lending and finance industry.