Litigation can be a long, tedious process that becomes costly in time and money. Those variables have to be considered when deciding whether to legally pursue a creditor.
Mistakes can be costly. There’s always a risk that you may not win and, even if you do win a judgment, whether you’ll be successful collecting.
You don’t want to walk away with nothing to show for all that effort and expense. So how do you determine which lawsuits are worth pursuing and which ones could end up costing you more in resources than you’re likely to recover?
LexisNexis® Risk Solutions has a full complement of tools to help you make informed litigation decisions. Our
PAYMETRIX™ solutions eliminate the guesswork. These sophisticated, suit-decisioning tools leverage data and advanced analytics to answer critical questions such as:
PAYMETRIX identifies and verifies assets. It then calculates the profitability of suit decisions. The PAYMETRIX Profitability Index is an advanced model that predicts the probability and amount of repayment via litigation. It then goes one step further, combining the model output with court costs and data costs to calculate the Profitability Index. You can then use the Index to determine your best strategy.
Verified asset information, including information about employment, bank accounts and real property, can also inform suit decisioning and provide the means to satisfy court-awarded judgments. Armed with that information, you can prioritize your efforts and allocate resources efficiently to maximize ROI. PAYMETRIX can have an immediate positive impact on your litigation strategy.
Conduct an accurate assessment of whether litigation is a viable option for the accounts in your collections portfolio. Learn more about LexisNexis® litigation strategy solutions in our new video.