Experian has announced the launch of Collection Triggers, a collections solution that monitors a company’s portfolio of collections accounts and identifies new information indicating the possibility of recovering the debt.
“Our clients have been asking us to help solve the debt dilemma — when collection efforts go cold, the consequence is a huge burden of unpaid debt,” said Kerry Williams, group president, Experian’s Credit Services. “Collection Triggers offers our clients the opportunity to know within 24 hours when a debtor has had new credit activity, enabling quick action for the highest probability of recovery.”
Collection Triggers allows clients to proactively monitor accounts for public record, civil action, tradeline and demographic events to help prioritize and segment their collection strategies. Specific triggering options can be selected, and rules around monitoring frequency can be customized. In addition, clients can determine their own priority hierarchies and cool-off periods according to their needs and the type of debt portfolio.
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