Accelerated Data Systems Reports on Climbing Household Debt

American household debt levels have reached an all-time high and some debt will remain unpaid. ADS offers collection software to help businesses recoup some of this money, AcceleratedData.com reports

Greenwood Village, CO - August 18, 2018 /MarketersMedia/ —

According to the New York Fed, American household debt has now reached an all-time high, hitting $13 trillion in 2017. This includes all categories-mortgage, car loans, education, credit cards, and other debt. Sadly, some individuals will be unable to repay what they owe for a variety of reasons. When a business finds they are not receiving payments as agreed, they may choose to turn the account over to collections. Accelerated Data Systems provides Collection Software for these situations and numerous industries, including medical and utilities, benefit from the use of this debt management and collections system.

"While certain loans are secured by an asset, such as a mortgage loan, many debts are of the unsecured variety. In the event the debtor does not pay as agreed, the lender has a few options. He or she can attempt to work with the borrower, turn the account over to collections or walk away from the debt, writing it off instead of pursuing further action. With the help of the Debt Collection software, a company finds they increase recoveries while decreasing costs," Daniel Reinig, spokesperson for Accelerated Data Systems, reports.

AdvantEdge software may be used for any industry and companies of every size. Collection agencies use the program to streamline the workflow while maintaining compliance, and auto loan providers find it to be of great help during the underwriting process. These are only two of the many industries making use of the program today, and only two of the ways in which it can be of help to numerous organizations.

"Medical providers often turn to the program to collect a debt, as it is fully compliant with the Health Insurance Portability and Accountability Act of 1996. In addition, agents looking to collect on past due student loans find it contains a number of tools useful to them in their daily activities. Any company that collects money from customers and has past due accounts should definitely check it out," Reinig continues.

AdvantEdge does much more than assist with debt collection. The program may also be used to manage active loans, which is of great help to ensure payments do not go past due. Furthermore, the program serves as a CRM, allowing companies to rely on one program for numerous tasks. As the program is very user-friendly, individuals can learn how to operate it in a very short period of time.

"Visit the site today to learn more about the debt management software and how it will be of benefit to your company. We are here to answer any questions you may have regarding the program also. With our help, you'll find collecting debt and managing accounts receivable become much easier, and your business benefits as a result," Reinig declares.

About Accelerated Data Systems:

The team at Accelerated Data Systems has over 25 years of extensive experience in collection software. ADS' software platform, AdvantEdgeTM, has been growing, along with the company's clients, and has set the standard for collection and accounts receivable software. Their debt collection solutions are also very customizable for different business rules and structures.

Contact Info:
Name: Travis Pasch
Email: TPasch@accelerateddata.com
Organization: Accelerated Data Systems®
Address: Greenwood Village, CO, 80111
Phone: 303-706-1101

Source URL: https://marketersmedia.com/accelerated-data-systems-reports-on-climbing-household-debt/394628

For more information, please visit http://accelerateddata.com

Source: MarketersMedia

Release ID: 394628

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