Teresa Dodson has over 20 years of executive and operational management experience across the financial services and marketing industries. In 2008, Teresa founded Greenbacks Consulting where she currently consults with debt relief providers on matters of operational strategy, regulatory compliance and marketing communications. Prior to this, Teresa served as COO for two large debt settlement companies where she oversaw all aspects of the day-to-day operations.
Teresa also has an extensive technology background and served as COO for Persolvo Data Systems, a FinTech company that developed the first SaaS platform to aggregate debt settlement account enrollments, allowing creditors and collectors locate and bulk settle consumer accounts enrolled with debt settlement providers.
Teresa serves on the Executive Board of the American Fair Credit Council, an industry trade association of Debt Settlement Companies that operate under a performance-based compensation model. Teresa is also a frequent speaker at conferences and events in the accounts receivable management and debt relief industries. Teresa’s keen insights and deep relationships combine to deliver unsurpassed bottom line results for her clients.
Debt Settlement in the Credit Ecosystem
As the economy shifts, so have consumer payment priorities. Distressed consumers, once focused on their credit scores, now face the headwinds of reduced real wages, record high inflation and increasing minimum credit card payments due to rapidly rising interest rates. Today’s consumer is more concerned with covering day-to-expenses related to food, housing, and energy, and in many cases is turning to credit cards to bridge the gap between expenses and income each month, spreading those additional expenses over 6-8 credit cards. As their ability to manage payments becomes more difficult, more and more consumers are turning to Legitimate Debt Settlement Companies to help them manage debt; and in turn playing a vital role in the credit ecosystem.
Tune in to the latest episode of Credit Eco to Go where Greenbacks Consulting President Teresa Dodson shares her insights of the Debt Settlement Industry with Clark Hill Plc Practice Group Leader Joann Needleman.
I have had the distinct pleasure of working with Teresa for the past few years and her expertise/knowledge around the debt settlement industry is “best in class”. She has been a great resource and has always been a wonderful sounding board when it comes to market, operational and regulatory trends impacting debt settlement but more broadly, the world of consumer credit/collections/finance. She was also a key driver for us to get more engaged with AFCC which has been very helpful to our firm as we continue to expand our M&A/valuation/research services.
We hired Greenbacks Consulting to come in and review our internal and client-facing processes. Teresa has great industry knowledge and was able to quickly pinpoint areas for improvement which resulted in improved client retention and increased settlement activity. Teresa is a pleasure to work with and her recommendations resulted in very near term ROI.
In 2019, we hired Teresa Dodson to help our company expand into the Debt Settlement market. She was instrumental in assisting our infrastructure build and has spent a great deal of time training our staff and overseeing our operations. She provided industry knowledge and best practices. She also guided the JG Wentworth team through the BSI audit process to ensure a successful audit along with AFCC accreditation status. Through her network, we have met other knowledgeable leaders in the industry. I would highly recommend Teresa.
I was referred to Teresa Dodson, Greenbacks Consulting by a 20+ year veteran in the debt relief industry. I quickly learned what an asset Teresa was to my startup. We successfully built a back-end operation is less than four months ahead of projected timelines with Teresa’s expertise. Teresa brings a broad spectrum of knowledge to the debt relief industry. Her vision in excellence, quality and compliance were adopted as guiding principles at 1Debt Free and have led to the foundational success of our company. I look forward to working with Teresa on our next consulting engagement and would recommend Greenbacks Consulting to any startup in the debt relief vertical without hesitation.
Bradley W. Smith
I have worked very closely with Teresa for over 15 years on company specific initiatives as well as legislative issues for the industry in general. She is a real professional in an industry that continues to try and do things the right away. She and her team have continued to push for ethical and compliant relationships with all sorts of financial services nationwide. She has more experience and a depth chart greater than 99% of operators in this space. The Debt Settlement industry is lucky to have such a player on its team.
Bradley W. Smith
Our company and its senior executives have been active in the debt relief and debt settlement business for over 15 years. As a niche business, it is very difficult to find experienced and educated professionals who can truly add value with their guidance and advice. We were very impressed with Teresa Dodson and Greenbacks Consulting. They were able to provide us with a comprehensive assessment of our business. Teresa clearly has a complete command of all the issues, whether it is related to the sales effort or the servicing part of the operation. I would recommend Teresa and Greenbacks Consulting to a start-up debt settlement business looking to develop and implement the right business plan, and I would also recommend Teresa to an experienced company looking to either modify its current strategy or simply audit its current practices to ensure it is operating at maximum efficiency.
I have known and had the pleasure to work with Teresa for 16 years. Initially, Teresa served as the COO of my Debt Settlement company. During her 4 year tenure, she capably grew the business year-over-year, during a time of infancy in the debt settlement industry when few proven systems or technology existed to serve the industry. Several years later, Teresa served as COO of Persolvo Data Systems, a FinTech company in the Debt Settlement Industry. Here, she led a team of marketers and software developers to bring to market an application that revolutionized direct settlements between credit card issuers, debt collectors and debt settlement providers. During this time, Teresa built close relationships with leading issuers, debt buyers and collection agencies which, she maintains to this day. I strongly recommend Teresa and can say that her knowledge and experience in the industry is second to none.
Teresa and I have a long history that dates back close to a decade. Teresa was an asset when she worked for our company full-time. Teresa is intelligent, highly motivated, and a team player. Teresa is also a wealth of knowledge in all areas of the debt settlement business and industry. I have the pleasure of serving with Teresa on the board of the AFCC, and she is instrumental to the team.
I have worked with Teresa Dodson, whom I affectionately refer to as “Queen T”, for the past 5 years. During this time, we worked together at a debt settlement company where I was employed, and later at companies where I was engaged as a consultant. Teresa’s knowledge and experience in the debt settlement industry is second to none and she is widely accepted as an authority on the industry. I have experienced first-hand her ability to take an underperforming company and turn it around by applying her unique systems and processes to the business. Teresa has a keen understanding of the skills and staffing requirements needed at all levels of the organization and is an effective communicator and team builder. I strongly and enthusiastically recommend Teresa to any debt settlement firm seeking to enter the industry or improve their profitability.