Deadbeats beware

Experian has introduced Collection Triggers, which the company says helps financial services organizations collect large volumes of uncollected debt. Experian explains that when new information on collections accounts becomes available, indicating the possibility of recovering the debt, the organization is notified within 24 hours and can then resume efforts to contact the consumer and collect the outstanding debt.

Experian further explains that Collection Triggers allows clients to proactively monitor accounts for public record, civil action, trade line 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, reports Experian.