Experian Announces Release of Update for Collections Triggers

Experian, a global information solutions company, today announced the release of an enhanced version of Collections Triggers . The new version provides collectors with notification when a debtor’s ability to pay appears to be improving.  This is especially critical for financial services organizations looking to optimize late stage and charged-off receivables. 

The introduction of additional trigger criteria and attributes within Collection Triggers increases the ability for companies to act quickly when new information is available. Subscribers to Collection Triggers are notified within 24 hours when the financial status of a consumer within their collection portfolio has improved.

"Collection Triggers increases revenue by allowing companies to be first to the door of consumers who have improved their ability to pay," said Zaydoon H. Munir, senior vice president, Experian’s Consumer Information Solutions.

"This tool allows companies to increase their productivity by only working delinquent or charged-off accounts when there is tangible evidence that renewed contact will yield results."

The enhanced Collection Triggers solution offers:

• A low-cost solution since charges are only incurred when new
  information on an account is available
• An economical "best address" option that notifies companies
  immediately if a newer address exists for a delinquent account
• The ability to append 15 different score models to one or more types
  of trigger notifications, including Experian’s VantageScoreSM and RecoveryScoreSM
• Improved management reporting and enhanced e-mail notification
• Monitoring of public record, civil action, tradeline and demographic
  events to help prioritize and segment collection strategies
• Triggering options and rules around monitoring frequency that can be
  customized based on priorities

"Collection Triggers is a powerful and intuitive tool for debt collectors who want to concentrate resources on the most collectible segments of their portfolio," said Munir. "Clients can monitor thousands of accounts and align their expenditures to monitor the consumer events that will most likely lead to recovery.  This product is particularly beneficial for the debt buyers forced to operate on tight margins with the need for maximum efficiency."

For more information about Collection Triggers, please call 888 414 1120 or visit http://www.experian.com/collections_industry/index.html