The biggest risks in selling debt revolve around your consumers Personally Identifiable Information (PII). In traditional debt sales, all your consumers’ PII is revealed to potential buyers prior to a sale, ostensibly for the buyer to score and price the portfolio. Unfortunately, traditional debt sales practices have the potential to put your customer’s PII at risk. The moment you send PII, you leave yourself and your consumers vulnerable. Human error, hackers, and bad actors all pose very real threats to your data. The DebtTrader network ensures consumer PII is never released prior to sale.*
To stay true to our core commitment of consumer protection, we designed a system whereby no one can access consumer PII prior to a sale being awarded and funds transferred. DebtTrader masks all consumer PII automatically when you upload your file, yet still allows buyers to score and value the portfolio through our secure integration with the same third-party scoring companies’ buyers already use.
*Some PII is released with the specific instructions of the Issuer.