#consumerdebt

And now a new report on Jan. 8 shows that the recent surge in economic growth has been built upon the same foundations as during the latter stages of Obama's tenure... consumers using increasing amounts of debt to survive.

It's official: the reason behind the recent rebound in the economy can be explained with two words: "charge it." 

Readers may recall that one month ago, we reported that with Republicans in Washington on the verge of passing their first major piece of legislation in the form of comprehensive tax cuts that will allow Americans across the income spectrum to keep a little more of their hard earned cash in 2018, it appeared that U.S. consumers already "pre-spent" their savings using their credit cards.  

And now we have confirmation that this is precisely what happened, because in the month of November, between revolving, or credit card, and non-revolving debt, largely student and auto loans, according to the latest Fed data, total consumer debt rose by $28 billion, or the most since November 2001, to $3.827 trillion, an annualized increase of 8.8%, or roughly 4 times faster than the pace of overall GDP growth. - Zerohedge

Debt collection is a long discussed problem among companies who have a large amount of money still unclaimed. Many companies are taking various necessary steps to stop bad debt problems, but are these steps working to get their valuable money back? Just one or two employed person can’t be able to collect all the debts effectively. A company which is larger must have many numbers of debtors which cannot be handled by persons due to various reasons.  Here a computer programmed debt collector can be used as it is more efficient and accurate than human.  Listed below are some points which prove that software for debt collection is better than human.

•    Low Expenses Expenditure is comparably low when a company decides to use debt collecting software instead of hiring employees.  This software can be purchased with onetime payment, but in case of employees a certain amount of money is required to give salary to them.

•    Hassle Free There is certainly new office space and a team leader is required to manage employees but not such things are required for software as it can be installed in just one computer easily and can be operated by a trained person.

•    Less Wrong Notion Sometimes it is not possible to keep track of the entire debtor at one time and employees may get confused while dealing with it.  But a computer program doesn’t get confused and can deal with numbers of debtor at a time.

•    Automated Process Various mails need to be sent to number of debtors asking them about money owed and employees may fail to do so. Debt collector software can be preset to send mails automatically in correct time to many debtors at a time.

•    Less Man-hour Needed As only one trained person can operate this software, less man-hour is need and those extra hours can be used in other productive work of the company.

In these many years software technology has brought a revolution in day to day’s life of every human being. It is seen that many people are very much worried about their unpaid debts with the debtor. Debt collecting requires the processing of information that is needed when trying to collect outstanding overdue debt, which requires your lot of money and time. Many debt collectors find it difficult to deal with the process which makes them buy the online debt collection software program.

There are a wide variety of online debt collection software programs in which the features would be different. Before purchasing an online debt collection software fully read software product descriptions. The product description provides the information about the features. This software offers letter templates, auto dialing, or a twenty-four hour automated account line; these are the particular feature to be seen before buying. Some details about the features are listed below to consider:

•    Document imaging is a convenient feature to transfer and share data. It allows important documents or paper works to be scanned and kept in a computer file for easy retrieval.

•    Outbound calling and personal voice messaging feature. It allows calling a debtor by simply clicking on their name and personal voice messaging allows to pre record the message and a call too.

•    Automated interactive inbound call feature set up an interactive account line that makes it possible for consumers to access their account information at anytime during the day.

•    Automated e-mail service: it automatically generates the forms, letter templates that need to be electronically filed or mailed to the credit bureaus.