Credit Bureau Reporting

Decision Makers

An option available with Collect! is the ability to report your debtor to the major credit bureaus.

Studies show credit reporting alters payment behavior. Many consumers indicate that they would be more likely to pay their financial obligations on time - even during economic distress - if those payments were fully reported to one or more national credit bureaus and consumer reporting agencies and impacted their credit scores.

Selecting this option is recommended in order to maximize the possibility of a successful collection. Reporting the delinquent debt to the credit bureaus is a serious act that should be considered with every account.

Once reported, the negative impact upon the debtor may affect them for up to seven years. The negative credit report may limit a debtor's ability to obtain credit, negatively impacts a debtor's credit history and may even limit debtor's ability to obtain employment. Often, if the initial contact of your letters, messages or phone calls does not get their attention, a debtor will contact you months or years later and want to clear the debt.

This feature is available as a purchasable option with all versions of Collect! and is included in the Enterprise edition.

Bureaus supported

Credit Bureaus

Integration Equifax logo As our business grows faster and more complex, there is a constant need to say who we are and what we stand for--a common purpose that guides us in everything we do. This common purpose begins with a belief that a business whose principal product is information must set an unparalleled standard for integrity. For over 105 years, that has been the Equifax legacy. We call it doing business THE EQUIFAX WAY-our operating principles and our business values.

Integration Experian Logo Experian helps organizations find the best prospects and make informed decisions to personalize and develop customer relationships (CRM). We support the direct marketing, business information, decision support and outsourcing requirements of over 40,000 organizations. We also help consumers: more than six million people a year purchase our credit report products and automotive history information.

Integration TransUnion TransUnion LLC is the global provider of information and decision-processing services, maintaining one of the largest databases of consumer credit information in the world. With more than 4,000 employees worldwide, the company serves a broad range of industries including financial and banking services, insurance providers, mortgage and real estate services, direct marketers and retailers, collection agencies, communication and energy companies, and healthcare facilities. TransUnion serves all 50 states and multiple international markets through its own sales offices and independent credit bureaus. TransUnion is a privately held corporation.

  Baycorp

Baycorp Advantage is a total solutions provider offering you a complete range of products and services encompassing each stage of the customer life cycle.
 
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