Resources for Collections Organizations
As more consumers miss payments on more financial products in the months ahead, collectors may find themselves in a blind race. Consumers entering delinquency on multiple loans may be contacted by multiple collectors at the same time. Collectors slow to reach these consumers run the risk of receiving only partial or no payment.
Four legacy challenges keep collectors from reaching consumers effectively and efficiently:
- Calling on days or at times when consumers are unlikely to answer
- Calls blocked or mislabeled as spam
- Inaccurate or outdated contact information
- Consumers doubting the legitimacy of calls from unrecognized numbers
Collectors that overcome these challenges will be more likely to connect with consumers first and arrange payment successfully. Now is the time to implement outbound communication strategies proven to reach consumers more effectively and efficiently, while ensuring contact records are continuously complete and accurate.
Download these Neustar resources to learn how forward-thinking collections organizations are overcoming the legacy challenges involved in contacting consumers.
Gain Access To:
Fewer Collectors, More Accounts: Prioritizing Contact Efforts for the Coming Wave of Delinquencies and Defaults
Watch this webinar to learn:
- Why collectors’ right-party-contact rates and operational efficiency may go down as more consumers are evicted or forced to downgrade phone service
- How collectors with more accurate consumer data and insight into consumers’ phone behavior will be better positioned to efficiently make contact and arrange for payment