Education Assistance Services, Inc.

 Summary
Education Assistance Services, Inc. (EAS) is a national, for-profit collections agency that provides collection services for defaulted student loans and institution-based receivables on behalf of the federal government, colleges, universities and other higher-education creditors throughout the United States. Founded in 2009, EAS competes in a mature marketplace against highly experienced, well-known national collections agencies. The company turned to LexisNexis® Accurint® for Collections in order to increase the efficiency of its workforce and collect more profitably.

Challenge

• Company struggled as a start-up pitted against entrenched competition staffed by experts in collecting student loans.
• Several agents had limited collections experience and no experience in student loan collections.
• Company lacked critical resources such as skip tracing tools.
• Streamlined operations were essential for high profitability that would protect margins.

Solution

• Leverage LexisNexis® Accurint® for Collections—a powerful suite of debt collection data and skip tracing tools—as the agency’s preferred skip tracing resource.
• Provide agents with near unlimited access to skip tracing tools that help them more quickly identify assets, locate both individuals and businesses, and increase recovery rates.
• Create a competitive advantage that distinguishes the collection agency within its industry.

Results

• Boosted productivity by at least 40 percent within one month of using LexisNexis Accurint for Collections.
• Establish contact with 4-5 new consumers per day, exceeding the industry average of 2-3 per day.
• Collect on more accounts, reduce overhead and further enhance operational profitability.
• Gain a clear competitive advantage with faster consumer contact and higher recovery rates.