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more than $400 billion in unpaid debt owed to government agencies. 60% of which is considered uncollectable due to outdated debtor identity information.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.
Collect more of the old debt that currently considered uncollectable due to outdated or missing debt
According to the US Census Bureau, each year over 35 million Americans move and 3 million people change their name. With the frequency of changes to personal identification information, such as names, addresses and phone numbers, data quickly becomes outdated and obsolete, resulting in the rapid accumulation of outstanding debts that are perceived to be uncollectable due to not being able to contact the debtor. LexisNexis® Identity-Based Government Collections helps resolve the debtors’ identity and provide the best contact information to help you maximize your collection efficiencies and collect more of the debt that is owed.
Expand the reach of Intercept Lists and Debt Offset Programs
Debt offset programs are clearly the most effective and efficient method for recovering outstanding debts. However, often agencies are unable to add debtors to the offset program because specific identity components, such as name, address and Social Security number (SSN), are either missing or cannot be verified. LexisNexis® Identity-Based Government Collections helps resolve the identity of debtors so that agencies can collect more revenue from debt offset programs and intercept lists.
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