While most collections organizations have procedures in place to prioritize accounts within their portfolios, many recognize expensive gaps still exist. For instance, you could assume all scored accounts that fall within a certain range will perform similarly, but that’s not always the case. Maybe you decide to use a score of 600 as a cutoff point and subsequently apply limited resources to collections below that number. Yet, subsets may exist, causing you to leave behind good candidates for repayment. With predictive indicators guiding you, you won’t lose revenue on accounts that fall into this category.
Credit attributes are a key differentiator in refining your collections strategy. By identifying accounts with the greatest potential to pay, you can more confidently allocate your resources for heightened efficiency and profitability. Credit attributes used in tandem with CreditVision® Recovery Scores provide access to powerful insights into consumer performance (enabling smarter decisions).
Examples of collections attributes include:
Whether customers are building balances, paying them down, or meeting larger than minimum payment obligations suggesting liquidity, access to highly predictive credit attributes and scoring can broaden your collections portfolio and fill in gaps.
TransUnion harnessed its depth of data to offer 180 credit attributes, helping customers better evaluate and monitor their account performance. With 22 characteristics specifically designed for collections organizations, we have you covered.
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