Experian announced an enhanced version of their service “Collection Triggers,” today. The service monitors credit and pings collection agencies when an account appears to have an improved ability to pay. From their Press Release:
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. My, what a lovely industry. —MEGHANN MARCO