Consumer debt, and that from credit cards and personal loans, is at an all-time high. Meanwhile, the manner in which debt is collected continues to get more aggressive. TrueAccord is hoping to help combat this by taking a markedly softer approach to the debt collection market.
The company's approach is to collect debt not with brute force but instead with consumer-friendly software technology. This software provides customers with the ability to adjust repayment plans online, change the amount they pay week by week and gain the ability to cancel a payment with no added fees.
This provides debtors with a more personalised way to manage their debt, which has the added affect of enabling more debt to be successfully collected. Through this approach, TrueAccord has the opportunity to fundamentally change debt collection - a fact which has earned it multiple partnerships and plenty of investment.
Freddie
Company Specialist at Welcome to the Jungle