Identity-Based Government Collections Solution
There is currently more than $400 billion in unpaid debt owed to government agencies. 60% of which is considered uncollectable due to outdated debtor identity information. LexisNexis Identity-Based Government Collections solution can help agencies collect more of the debt that is owed by resolving the identity of debtors which results in improved efficiency of collection efforts and increased revenue from old debt, intercept lists and debt offset programs.
Verify & Append Debtor Contact and Identity Information
LexisNexis® Identity-Based Government Collections look back in time and make a historical comparison of debtor identity information associated with uncollectable debts. This powerful tool recognizes connections between data at different points in time, then verifies and resolves debtor identity matches. Then it appends the most recent identity and contact information. This offering finds debtors that slipped through the cracks when personal information changed over time and returns the updated information needed to collect those debts.
Segment and Prioritize Debts based on the Probability of Contacting the Debtor
Once the LexisNexis Identity-Based Government Collections has verified identities and appended debtor contact information, identities are segmented into scoring buckets based on the confidence level of the match and other factors. This segmentation and scoring allows agencies to make informed decisions about which records should be added to intercept lists for state offset collections programs; which records have had their identity resolved and therefore lend themselves to active collection strategies; which records should be referred to third-party collection agencies; and which records can be dropped due to the uncontactable nature of the identity.
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The information found in the Identity-Based Government Collections Solution is not a consumer report (as defined in the Fair Credit Reporting Act (FCRA)) and may not be used for any purpose permitted by the FCRA. LexisNexis and the Knowledge Burst logo are registered trademarks of Reed Elsevier Properties Inc., used under license. Other products and services may be trademarks or registered trademarks of their respective companies.