Tracking down right-party contacts and assets isn’t easy. It’s even more difficult when an individual is operating a business under a different name—or you're not sure if a phone number is a mobile device and “off limits” for contact. You need skip tracing methods that provide clarity.
Amassing and sifting through mountains of data from disparate sources isn't the way to do it. It takes too long to ferret out the relevant parts, especially when you’re working on a tight timeline. Efficiency is essential. Our skip tracing services help you strengthen your debt recovery process by reducing costs, automating more tasks and optimizing your resources.
Recovering outstanding debt often means getting to the right party quickly, ideally before other collectors make contact. But first you need accurate debtor information. How can you know when new phone or address information for a debtor becomes available?
LexisNexis Account Monitoring® automates the account update process by providing you with detailed information for your most hard-to-locate debtors. It sends you alerts when new contact, address and segmentation data is available. And it helps you stay on top of a debtor’s ability to pay through updates regarding bankruptcy filing, property ownership and criminal data.
Our automated batch process integrates with your existing workflow. The updates you receive not only help accelerate your collections process; they help you avoid repetitive and costly online and batch searches. And you can determine what information triggers alerts. Choose to receive “all updates” or only those containing specific debtor data you need.
Regular, electronic updates prompted by account monitoring help you:
|Increase efficiency by automating a manual process|
|Improve collection rates by getting party contact information before other collectors do|
|Boost organizational effectiveness by delivering the information you need|
Our account monitoring solution combines unmatched flexibility, industry-leading data, and ease of use to help you streamline and enhance your collections process with skip trace tools.
You can take your collections process up a notch with skip tracing tools that simplify your workflow by helping you quickly find critical details, such as a debtor’s workplace or business name and location. With access to better consumer information, you can also gain useful insights such as first- and last-seen dates; known relatives and associates; and new address details.
With our skip tracing services, you have unmatched control of access to collections information, reports and search criteria to minimize errors and improve efficiencies and performance. Gain insights into your debtor’s finances to develop more concentrated collection strategies through our skip trace database.
Further expand your research with intuitive links to "Next Steps" and "We Also Found" prompts that tell you what additional, relevant information is available.
LexisNexis® Accurint® for Collections: Contact and Locate workflow solution features robust search tools that provide access to public and proprietary data gathered from thousands of reliable sources. It presents that information in a clear, rank-ordered output. Reduce time-consuming skip tracing research and streamline skip tracing services for collections with the Accurint for Collections Contact and Locate workflow.
You can further increase your efficiency with data pertaining to specific collections, which are packaged into easy-to-interpret Finder Reports, Contact Card Reports, Current Address Reports and Business Reports.
Accurint for Collections not only increases the speed and efficiency of your workflow; it delivers the relevant information you need to pursue debtors with confidence through skip tracing software.
To improve your collection efforts and increase your accounts receivable, you need to optimize time spent. The most effective route to profitable recovery is to prioritize those debtors who are most likely to repay through our skip tracing services.
But how can you know a consumer’s ability to pay without investing significant time in research, especially now that fluctuating economic times have made credit data less reliable and predictive?
LexisNexis® Payment Score provides a three-digit score between 501 (least likely to repay) to 900 (most likely to repay the most dollars) that forecasts collections success. You get unique insight into consumers, even those with little-to-no traditional credit history.
Payment Score assesses 33 billion public records built from more than 2,000 sources to determine a debtor’s propensity to repay a debt within the next three months and also to rank higher those accounts likely to repay the most dollars.
With that intelligence, you can segment accounts and assign appropriate treatment strategies. You now have the ability to streamline your collections portfolio management by allocating resources based on the likelihood of repayment success. Better workflow efficiency translates into higher collection recovery profits.
Connect your business to robust technology, data and analytics that can transform your skip tracing services and collections workflows and help you achieve greater costs and operational efficiencies across the customer lifecycle.
LexisNexis® solutions are built from vast data assets—cross referenced with proprietary linking technology. Get the data you want faster, easier and with more details. Our collection solutions help improve skip tracing efforts by finding hard-to-find debtors and even arming you with valuable insights that may be useful in negotiating payment terms.
LexisNexis® Risk Solutions delivers a full range of skip tracing services and proven solutions for the collections industry. Whether you need on-demand skip tracing data or batch uploads, we can help make your skip tracing efforts more effective to maximize debt recovery.
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