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InsightAmerica Announces InsightCollect

US Consumer Debt Problem Reaches New Heights

10.02.03- In 2002 the United States reached over 135 billion dollars in un-recovered consumer debt. This number will increase remarkably over the next five years. As un-recovered debt continues to grow, collection and recovery agencies will expend more human resources and money trying to locate debtors then ever before. In a mobile society, the challenge to collection and recovery agencies lies in locating debtors quickly and accurately using targeted information that is easy to use and cost effective. Additional collection and recovery agencies face the added problems of low collection/contact rates (as low as 12%), write offs, software expenses, employee turn over and training time for new hires.

InsightAmerica today launched InsightCollect, a new product that will revolutionize skip tracing while combating the rising epidemic of un-recovered debt.

InsightCollect offers a range of configurable applications from simple locates – L-Score Reports – to more in-depth collection assessment qualifications through the C-Score Report.

L-Score Reports combine People Locate databases, property placement (sales/tax information) and a Real-Time Phone Directory. L-Score Reports provide names, addresses and phone numbers in rank order, allowing for simple people-location and address-verification.

C-Score Reports are a customizable advanced technology allowing the user to determine a target’s ‘collectability-score’ based on weighted values created by the client. Combining C-Score Reports with ‘amount-owed’ and ‘account age’, collection agencies can parse-out accounts to the proper collector/skip-tracer.

L and C-Scores were created to help collectors establish faster workflows, lower write-offs and skip efficiency. “Collectors spend 100% of their day sorting through data and evaluating information. With InsightCollect, the collection process is streamlined through user customized weighed scoring”, explains Jeff Flood, VP of Sales.“ L-Score and C-Score Reports allow customers to decide what information is most relevant and eliminates useless data, allowing them to spend more time collecting and less time searching”. As consumer debt rises yearly, InsightCollect is making a vigorous effort to supply collectors with the proper tools.