Robust Location Services Added to TransUnion's Collections Suite

TransUnion launched Comprehensive Locator Report today at the National Collections and Credit Risk Conference in Las Vegas, Nevada. The new offering enhances TransUnion’s broad collections suite of products, which allows first and third-party collectors to collect faster, cheaper and more efficiently during each stage of the collections lifecycle.

By conducting eight unique searches and delivering valuable information from dozens of data sources, Comprehensive Locator Report addresses a major pain-point collection agencies are experiencing today: locating the right person at the right time. This need has become amplified with an increasingly mobile public, higher interest rates and new bankruptcy laws making it more difficult for consumers to file for bankruptcy. Some of the data sources now available to collectors include listings of a debtor’s current phone numbers, occupants within their residence, neighbors, relatives, associates and even potential deceased information.

“TransUnion is committed to integrating itself entirely into its customers’ collections operations,” said Dan Brackle, Vice President of TransUnion’s Collection Solutions. “This new offering increases a collector’s likelihood of getting paid by helping them to be the first to reach a delinquent customer. By using Comprehensive Locator Report with our other collections solutions, customers can maximize their resources by turning to a single source to streamline all of their collections processes.”

Along with Comprehensive Locator Report, TransUnion’s collections suite encompasses the following offerings:

• TransUnion Collection Triggers – analyzes delinquent accounts to uncover lifestyle changes that may signal a newfound ability to pay.
• TransUnion Collection Prioritization – identifies the accounts from which a collector may recover the most money for the least expense.
• TransUnion Industry-specific Recovery Models – helps collections organizations across multiple industries (e.g. bank and retail cards, auto and installment loans and medical debts) identify which customers are most likely to repay their debts in order to prioritize work effort.
• TransUnion Online Payment – provides an online method for collecting past-due payments that is cost-effective for companies and less confrontational for consumers than traditional collection methods.

“In recent years, we have seen numerous solution providers enter the marketplace offering point or ‘patch-work’ solutions that address one or a few of the collection industry’s needs,” said Brackle . “What sets TransUnion apart from our competitors is twofold: first, we have over 30-years of experience in gathering, analyzing and delivering information to improve the speed and quality of our customers’ decisions. Second, we actively listen to the industry and develop and package solutions that create cost- and process-efficiencies, from prioritizing their collection efforts to locating delinquent customers to recovering debt. TransUnion is the single solution source integrated into many of our customers’ platforms.”

TransUnion’s Collection Locator Report is priced competitively and flexibly based on the needs of a collector. Reports are delivered online within 24 hours of an inquiry submission. For more information, visit booth #205 at the National Collections and Credit Risk Conference.