Pre-collections and collections

Recovering unpaid debt from customers doesn’t have to be costly, time-consuming or damaging. Discover how Experian’s debt recovery solutions provide accurate and up-to-date insights into why customers have fallen behind with their payments, helping you work with them to repay their debts while strengthening your relationship and reputation.

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Pre-collections and collections

Find out how to improve your collections processes in a way that not only recovers more unpaid debt but also strengthens customer relationships. Click the titles below to find out more…

The fewer customers who end up in collections the better, but what steps can you take to reduce the risk of engaging in costly debt recovery processes, particularly during a pandemic? Discover the solutions that will enable you to accurately gauge a customer’s ability to keep up repayments throughout the lifetime of the agreement.

Make confident, responsible lending decisions

How much can your customers afford to repay? This isn’t simply about whether they can make the repayments now, but also about whether they can afford to do so over the long term as their circumstances change. An automated service like Experian’s Affordability Check provides you with a detailed picture of each individual’s circumstances, ensuring the amount you lend can be paid back at minimum risk to both you and your customer.

Help customers resolve debt issues

Before the pandemic, 4.1 million people in the UK were classified as being in persistent debt, with 15 million living on the ‘breadline’. Resolving such debt issues can be stressful and time-consuming without the right support in place. By encouraging your customers to share their banking data with a tool like Affordability Passport, you can speed up the onboarding process while getting accurate information that helps restructure payments. This is useful for setting sustainable repayment rates and rapidly reducing debts so that customers don’t move to collections.

Anticipate problems before they occur

COVID-19 has made it harder than ever to predict customers’ changing financial circumstances, which is why a tool like Experian’s Bureau Insights can make a real difference. It provides fortnightly customer management triggers and insights based on Open Banking data that can warn of potential repayment issues before they become problematic.

Increase operational efficiency

Manually sifting through individual customer data is time-consuming and costly. A solution like Affordability Check automates many of the processes to increase your ability to handle high volumes of customer applications. Designed especially for credit providers, it gives you the insight you need to manage risk at both individual and portfolio levels, which helps to avoid customers falling into debt.

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