Collection Research Tool
A recent Experian study found that approximately 20 percent of addresses which creditors maintain on debtors are incorrect. Pinpointing hard-to-find debtors is the critical first step in an effective collection campaign. By leveraging Experian's new relational search system — TrueSearch, creditors now have a powerful source for skip tracing. This new online tool called Collections Recovery Tool reveals alternate locations, multiple telephone numbers, business owner name(s), and a 90-day payment summary that illustrates how difficult the collection effort might be. Utilizing Experian's integrated network of databases and resources, this one-of-a kind tool significantly enhances your ability to locate debtors, and increase collection revenue.
Optimize collections efforts
Accessed through an easy-to-use web site, Collections Recovery Tool provides a quick yet comprehensive summary of your delinquent customers business locations. Sourced from Experian's commercial data repository — BizSource,SM, Collections Recovery Tool searches across all related tradelines to examine the payment history patterns of your delinquent customers.
Collections Recovery Tool allows you to:
- Discover alternate contacts, addresses and phone numbers on debtors/customers
- Gain a better understanding of customer/debtor payment behavior and trends
- Determine if other creditors are being paid first
Save on commercial skip tracing costs
Collections Recovery Tool is a flat monthly subscription service that may be accessed by any number of users within your organization. After a quick and easy online setup, you may begin using the service immediately. Collections Recovery Tool is flexible by design to accommodate companies of varying sizes and needs.
Complement existing Experian collections products
Collections Recovery Tool is an excellent complement to other Experian products, including Delinquency Notification Service. This new service provides an effective method to collect past due balances using Experian as your partner. Your company drafts a letter notifying your customer of the debt, then transmits the letter to Experian. Experian will then print the letter on Experian letterhead and mail it to your customer — referencing your business and other details of course. When used with Collection Recovery Tool, these two premier services provide a decisive advantage for maximizing collection payments.