Persolvo Data Systems Experiences Record Growth in 2011

IRVINE, Calif.--(BUSINESS WIRE)--Persolvo Data Systems, a leading provider of web-based settlement software and analytics tools designed to locate, identify and settle accounts enrolled in debt settlement programs, announced today that the company achieved a number of record milestones in 2011. For the year ending December 31, 2011, Persolvo grew revenues by 278% over 2010 and increased the amount of debt settled by 237%. In addition to successfully deploying their first top 5 credit card issuer in 2011, the company more than doubled the number of debt buyers, collection agencies and legal recovery firms utilizing Persolvo’s technology.

“We are now settling hundreds of millions of dollars of debt for consumers annually, and our business model has been validated by some of the largest credit card issuers, debt buyers and collection agencies in the industry.”

In addition to the growth attributed to its client base of creditors, collectors and debt buyers, Persolvo also saw strong demand from debt settlement companies that, for the first time, find themselves operating under a regulated model banning advanced fees and outlining strict guidelines on how companies can market their services to consumers. Being forced to operate in a strictly performance-based manner, debt settlement companies are looking for every advantage to settle more debt for their customers and do so in the most secure, efficient and cost effective manner possible.

“With Persolvo’s extensive relationships throughout the accounts receivable management industry, and its growing client list of creditors, collection agencies and debt buyers, Persolvo has created an entirely new channel of settlement opportunities for our consumers enrolled in a debt settlement program,” said Dave Leuthold, CEO of Century Negotiations. “Furthermore, with the recent enhancements now available through CONCERTO 3.0, the latest release of Persolvo’s web-based settlement system, a single debt negotiator can settle hundreds of accounts monthly, or typically 8-10 times the volume of a negotiator utilizing manual processes.”

“2011 was a breakout year for Persolvo,” said Teresa Dodson, Persolvo’s COO. “We are now settling hundreds of millions of dollars of debt for consumers annually, and our business model has been validated by some of the largest credit card issuers, debt buyers and collection agencies in the industry.”

Dodson went on to note that Persolvo’s exceptional performance in 2011 appears to have laid the foundation for even greater success in 2012. “We’re already off to a great start with the addition of six large collection agencies and debt buyers during the month of January and face a growing number of new client deployments as we head to the Debt Buyers Association meeting in Las Vegas this month.”

For more information on Persolvo Data Systems, visit http://www.persolvo.com/. You can also learn more about how collection agencies, debt buyers and legal recovery firms are utilizing the debt settlement industry to increase collections by downloading a free copy of the Debt Settlement Industry Survey from Inside ARM.com, at http://www.insidearm.com/freemiums/debt-settlement-industry-collections/.

About Persolvo Data Systems

CONCERTO 3.0 from Persolvo Data Systems is the first patent-pending system to aggregate account information on debtors enrolled in debt relief programs with leading debt settlement companies and law firms. Persolvo’s web-based, PCI-compliant settlement application allows creditors and collectors to locate debtors, analyze their account information to uncover highly-liquid settlement opportunities, and settle large numbers of accounts online with hundreds of debt settlement companies. The Persolvo system is the largest database of aggregated debt settlement accounts available today and provides the most accurate and up-to-date information, including the settlement savings balances of debtors enrolled in debt settlement programs. For more information, visit our website at http://www.persolvo.com/.

Persolvo: Latin Verb - to unloose, explain, expound/pay off a debt, pay.