Release Date: Friday, October 12, 2007
The principals of Global Debt Registry listened with great interest to the panelists’ comments at the FTC Workshop regarding the Fair Debt Collection Practices Act. Consumer advocates indicated their clients were adversely affected by an inability of the debt buying industry to provide a clear chain of title on individual accounts being collected. They additionally asserted there is a problem with the accuracy of the amount purported to be owed by the debtor. They were also concerned there is little documentation of the debt beyond an electronic spreadsheet available for validation purposes.

Global Debt Registry is proud to provide a secure solution to all of these legitimate concerns. GDR provides a time-dated, electronically signed, and auditable chain of ownership for individual charged-off accounts. Additionally, key data elements from each account are stored upon initial registration and subsequently used to validate the accuracy of account data when a portfolio is resold. Lastly, GDR provides a resource for authentic owners of registered debt to quickly request and receive additional documentation direct from the originator regardless of how many times the account has been resold.

Global Debt Registry is a cutting-edge registration system designed to maintain and establish accurate ownership of delinquent receivable accounts in the secondary charged-off debt market. For more information, please visit www.GlobalDebtRegistry.com.