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Experian, a major provider of credit-related services, will launch "Q24 Collections," a credit scoring product designed to help creditors and collection firms reduce risk and increase profit potential from their debt portfolios.
Mortgage and home equity data is incorporated into the modeling tool.
"We believe Q24 Collections is an important resource for everyone in the credit and collections industry who needs a 24-hour turnaround of reliable, accurate information to help in the decision-making process," said John Nebergall, senior vice president of Experian.
The service combines Experian's predictive risk, recovery and revenue models including its bankruptcy model, RecoveryScore, national risk model, revenue opportunity indicator and the Experian/Fair Isaac Model with more than 30 collection attributes, the company said.
These attributes include credit availability and utilization, derogatory trade lines and collection activity, home equity and second mortgage information, history of satisfied liens and judgments, bankruptcies and other data.
The company said the tool will help lenders decide what accounts to keep, assign or sell. Collection ...