Debt & Collections

Tax season sees collections growth every year, as many use their tax refund to pay down debt. Find these consumers to maximize your collections efforts.

In a new study, Clarity analyzed the trends and financial behavior of subprime loan users. Discover the latest insights and shifts.

Current debt collection process is outdated. The process is driven by the measurement of delinquency and loss and doesn't consider the customer.

Change has certainly changed the consumer, and everyone seems to recognize this but collections professionals. See how digital collections is catching up and getting results.

Knowing which of your customers may receive a tax refund is critical. Trended data can help collectors understand who will use it to pay down debt.

For most businesses, the customer experience is at the heart of every strategy. Debt collection shouldn’t be different. Here’s why:

While many banks view the collections process merely as an opportunity to collect outstanding debt, there is opportunity to enhance customer relationships.

The collections space has been migrating from traditional mail and outbound calls to electronic payment portals, digital collections and virtual negotiators. Now that collectors have had time to test virtual collections, we’ve collected some data points. Here are a few:

Creating a customer journey map, and seeing it through from acquisitions to collections, can help you better define messaging and channels to best reach your audience.

As more collectors transition from "dialing for dollars" to digital solutions, they are seeing early results and success with virtual negotiation tools.

Many clients use the same debt collection strategy they’ve used for years never considering the customer experience for the debtor

In Experian’s latest State of Student Lending report, we dive into how the $1.4 trillion in student loan debt for Americans is impacting all generations in regards to credit scores, debt load and delinquencies.

The economic expansion just passed the eight-year mark, and consumer credit defaults across mortgages, bankcards and auto loans are at pre–financial crisis levels

Debt collections - Create a better consumer experience during the debt collection process.

Student loan debt — outstanding debt grew 21 percent since 2013 to reach a high of $1.49 trillion in the fourth quarter of 2016.