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Company Seeks to Ease the Debt Collection Process

Debt collection is a process no one enjoys going through. Debtors who are unable to keep up with payments often spend hours haggling with lenders on the phone, sometimes avoiding picking up the phone at all. The process of lenders making repeated calls and pressuring debtors to make payments is one that often gives rise to tension and aggression between the two parties in an already delicate situation. A company called TrueAccord is attempting to make that experience a more positive and productive interaction. TrueAccord has developed an online system that allows lenders and debtors to come together, view balances all in one place and work on paying off debt. In spite of this promising new technology, it is still a reality that being in debt can cause immense emotional and mental strain. While technology can sometimes improve the situation, this is not always the case. In order to obtain…
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