Encore Capital Group, the San Diego based collector of charged off credit card debt, announced a partnership with Payoff.com to provide that firm’s services to the 34 million distressed consumers it works with.
According to Encore, Los Angeles-based Payoff.com is a free Web-based service that allows consumers to view all of their financial information in one place, and to proactively manage their money.
“We take pride in the role we play in helping consumers fairly and flexibly meet their financial obligations, and our partnership with Payoff.com will provide us with another tool to better meet their needs,” said Encore CEO Brandon Black.
The company said that the Federal Reserve estimated the amount of unsecured consumer debt as of 2011 was $2.6 trillion, which is projected to grow in the coming years.
According to Encore, Payoff.com awards cash called Sur-Prizes to people who have made progress with their financial goals, and uses social tools to make financial management fun.
— SDBJ Staff Report