Debt Collection

Improving crime prevention and awareness with data and analytics

Crime prevention and awareness techniques are changing and data, analytics and use of technology is making a difference. While law enforcement departments continue to face issues related to data - ranging from working with outdated information, inability to share data across departments, and...read more

Trust me, I have lots of Facebook friends

I recently read interesting articles on the Knowledge@Wharton and CNNMoney sites covering the land grab that's taking place among financial services startups that are trying to use a consumer's social media activity and data to make lending decisions.  Each of these companies are looking at ways...read more

How to optimize debt recovery with minor information and process adjustments

Government organizations that handle debt collection have similar business challenges regardless of agency focus and mission. Let’s face it, debtors can be elusive. They are often hard to find and even more difficult to collect from when information and processes are lacking. To accelerate debt...read more

Case Study: Knowing When To Pull the Debt Collection Trigger

Contact information such as phone numbers and addresses are fundamental to being able to reach a debtor, but knowing when to reach out to the debtor is also a crucial factor impacting success or failure in getting payment. As referenced in the chart below, when a consumer enters the debtor life...read more

Solutions to Top 5 Business Challenges of Public Sector Collections

Reduced budgets, quickly evolving technologies, a weakened economy and resource constraints are clearly impacting the Public Sector, but it’s not all doom and gloom. Always with new challenges, come new opportunities. Government agencies must still effectively run programs, optimize processes and...read more

Navigating the plethora of skip tracing data sources

All skip tracing data is the same, right? Not exactly. While there are many sources of consumer contact data available to debt collectors, the quality, freshness, depth and breadth can vary significantly. Just as importantly, what you ultimately do or don't do with the data depends on several...read more

The power of credit attributes in the decision process

In my last post, I covered the importance of using quality credit attributes to gain greater accuracy in risk models.  Credit attributes are also powerful in strengthening the decision process by providing granular views on consumers based on unique behavior characteristics.  Effective uses include...read more

Cell phones and debt collection: Seeking Mr. Goodbar’s number

It comes as no surprise to anyone that cell phone usage continues to rise, while at the same time the usage of wire lines, or what used to be affectionately known as POTS (Plain Old Telephone Service), continues to decline. Some recent statistics, supplied by the CDC show that: 34% of all households...read more

Can credit education help collectors increase payments?

Let’s face it, debt collectors often get a bad rap.  Sure, some of it is deserved, but the majority of the nation’s estimated 157,000 collectors strive to do their job in a way that will satisfy both their employer and the debtor.  One way to improve collector/debtor interaction is for the collector...read more

Are you missing out on potential revenue?

State and local governments responsible for growth may be missing out on an immediate and sizeable revenue opportunity if their data and processes for collections are not up to par. The Experian Public Sector team recently partnered with Governing Magazine to conduct a nationwide survey with state...read more