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News

DebtorTrace for improved recovery management

Teletrack UK : 14 August, 2009  (New Product)
Teletrack has launched DebtorTrace to assist lenders in the process of managing recoveries of debts
Teletrack, a provider of credit and fraud risk solutions for non-traditional lenders, has announced the launch of DebtorTrace, a new, cost-effective information source that helps manage current recovery challenges, optimize collections efforts and maximize the ability to make right party contact.

DebtorTrace is supplemented by unique data sources, including a Teletrack corporate affiliate. The non-traditional data is obtained from online and in-store transactions that are not typically reported to traditional credit bureaus or other data repositories including payday loan companies, rental purchase stores, non-traditional consumer finance businesses, non-prime auto lenders and credit unions.

'The changing economic climate is degrading the quality of traditional credit bureau location data, and our clients are experiencing a decreased hit rate at other data repositories,' said Dale Williams, president of Teletrack. 'This increased demand for unique data prompted Teletrack to identify new resources for collection data.'

DebtorTrace makes use of a vast repository of unique data on non-traditional credit consumers that includes millions of employment related records in addition to residential location information. DebtorTrace Home provides new home phone and address information. In addition, DebtorTrace Job returns name of employer and employment telephone information.

'Teletrack provides updated telephone, address and employment related information to more than 6,000 lenders, debt buyers and debt collection agencies to help improve the collection of delinquent accounts,' said Williams. 'The addition of DebtorTrace to Teletrack's suite of collection services complements Teletrack's premium service skip tracing solution, PeopleLocation.'

DebtorTrace is a batch service that is billed on a contingency basis and requires the submission of a minimum of 5,000 records. When the last known information for a consumer is supplied, Teletrack returns only information from the DebtorTrace proprietary database that is different from the information contained in the instruction file.
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