This is a one-of-a-kind Cloud Based Software Application that is being launched for the first time. The ability for a Debtor to negotiate and settle their delinquent accounts online is now available at DebtMagicians.com (DM). With DM, a Debtor can make a proposal to their Creditor to settle their debt by offering to pay a lesser amount than their outstanding balance. DM then uses a sophisticated and proprietary Debtor-facing ‘online debt settlement engine’ to evaluate the Debtor’s proposal and negotiate a settlement.
Winter Park, Florida, October 7, 2020, The Debt Collection Industry has been doing the same old routine for decades and producing the same old minimal results. All that has changed with a new AI SaaS Platform rolled-out by DebtMagicians. Their new debt collection concept is nothing short of a new paradigm causing quite a disruption in this industry.
Consider this: With DM, there are NO collection costs to the Creditor. The Debtor pays 100% of their fees. NO settlement, NO fee. Negotiated settlements are based largely on numerous debt settlement criteria set by the Creditor. Debtors are invited to make a settlement proposal after receiving a personalized email invitation to settle their account generated by DM using the Creditor’s ‘delinquent accounts’ Excel file as input.
If DM accepts the Debtor’s proposal, this could be the perfect non-confrontational way to transform a delinquent Debtor into a settled account. Think “Priceline® meets debt collection” – the Debtor makes an offer for its Creditor to ‘Accept or Reject’®.
DM offers the Debtor multiple payment options to enable them to be able to afford a payment method that will satisfy their Creditor and their budget. Settlement payments can be made by either a single payment or on an installment plan and use either an eCheck or a credit/debit card.
Some of the key features of the DebtMagicians platform include:
- A Debtor can make a proposal to their Creditor to settle their delinquent account for less than the current balance.
- DebtMagicians uses the minimum settlement criteria set by the Creditor along with a proprietary A.I. engine to analyze the Debtor’s proposal and then negotiates with the Debtor to achieve the optimum settlement amount.
- The service is provided at no cost to the Creditor. The Debtor pays all fees.
- A Debtor can use ‘Crowdfunding’ from friends and relatives to settle their debt.
- As part of its evaluation of a Debtor’s proposal, DebtMagicians determines if the Debtor has the cash flow to support their proposal by calculating a ‘Debt Service Coverage Ratio’ which is mandated by the E.U. for all installment payment plans.
Get the facts today about this new Paradigm in Debt Collection Techniques: http://debtmagicians.com/
The Clix Group LLC
Attn Media Relations
2265 Lee Road, Suite 101
Winter Park, FL 32789