- Returns notifications only on those accounts that are considered "actionable"
- Provides quicker opportunity to proactively take appropriate collections treatments to maximize recoveries
How It Works
Triggers Collections is an automated system that provides you with an early warning when specific indicators change in your customers' credit portfolios. The system looks at indicators that provide insight into situations that might give the customer a greater propensity to repay their outstanding debt. It enables you to prioritize collection efforts on these customers. Indicators tracked include:
- New Inquiry
- Address Change
- Employment Change
- New Bankruptcy Notice
- New Credit Product
- Rate Change
- Instalment Loan Paid Off
- Total Balance Change [$ or %] (could be increase, decrease or both)
When any profile elements such as these change, Triggers Collections notifies you so you can act appropriately to collect outstanding funds.