CB Management Services (NCB), a privately held national debt buyer and collection agency, and Global Debt Registry (GDR), an independent debt titling registry, based in Wilmington, announced an agreement to use GDR’s ownership tracking system and enhanced consumer access for NCB accounts.
The agreement reflects an increasing interest among banks, debt buyers, collection agencies and legal collection firms to dramatically improve proof of ownership validation and chain of title tracking.
NCB will use GDR’s registering and debt titling services for accounts they purchase from original creditors and from other debt owners. GDR creates unique identifiers for all registered accounts and tracks documentation and information about debts in a highly secure, cost effective centralized repository, according to a release. GDR’s patent pending processes ensure that debt owners have full transparency regarding the chain of title of debts. Consumers will be able to securely access the registry to independently validate claims of ownership by the debt owner once rolled out.
“Before a consumer engages in a discussion about repayment of a debt, GDR’s chain of title tracking system allows consumers to independently validate the account-level information,” said Mark Parsells, CEO of Global Debt Registry. “NCB has broad relationships with the leading banks in the United States and is regarded as an innovator and leader in consumer focused collection.”
GDR is owned by a US based, $5 billion private equity firm