Costa Mesa, Calif. — March 3, 2008 — Experian®, a global information services company, today announced that First American Investment Company’s implementation of Collection TriggersSM has significantly improved profits for the debt-buying organization. First American Investment Company, based in Williamsville, N.Y., is a leading buyer of charged-off consumer debt accounts and debt portfolios.
“Collection Triggers has helped us improve our collections efficiency and increase our profits dramatically,” said Jack Sortino, director of portfolio placement for First American Investment Company. “The tool has helped us with all aspects of the collections process — from right-party contacts to quickly alerting us when new information points to a high probability of recovery. Using Collection Triggers has far exceeded our expectations.”
“The amount of debt recovered using Collection Triggers was nearly $215,000 from May through July 2007 alone, nearly $30 collected for each dollar spent. You can’t beat a 3,000 percent return on investment,” said Sortino.
Sortino said First American Investment Company began using Collection Triggers in May 2007 to monitor several thousand delinquent accounts and now monitors more than 60,000 accounts. Collection Triggers monitors the company’s collection accounts that range from two to five years old and notifies the company within 24 hours when new contact information or changes in a debtor’s ability to pay are found, such as a new telephone number or a new credit account. Once the information from the trigger is received by First American Investment Company, it’s turned over to a network of more than 150 collection law firms that concentrate efforts on those accounts most likely to pay.
“Collection Triggers is a powerful and cost-effective tool that empowers collectors with timely and accurate data,” said Dan Buell, vice president, Collections, Experian. “Our goal is to help clients like First American Investment Company maximize return on investment and improve profitability. We continually advance and develop products to serve the marketplace using our data, technology and industry expertise.”
As with all Experian data and information services, Collection Triggers complies with all legal requirements and regulations governing the responsible use of information.
For more information on Collection Triggers, visit http://www.experian.com/collections or call 1 888 414 1120.
About First American Investment Company
First American Investment Company LLC is a subsidiary of Rochester, New York-based American Management Services of North America, a leading national debt portfolio firm specializing in the buying and selling of charged-off consumer credit card debt. Established in 2005, First American Investment Company utilizes a network of more than 150 collection law firms that employ premium collection services to produce exceptional collection results.
About Experian
Experian is a global leader in providing information, analytical and marketing services to organizations and consumers to help manage the risk and reward of commercial and financial decisions. Combining its unique information tools and deep understanding of individuals, markets and economies, Experian partners with organizations around the world to establish and strengthen customer relationships and provide their businesses with competitive advantage. For consumers, Experian delivers critical information that enables them to make financial and purchasing decisions with greater control and confidence. Clients include organizations from financial services, retail and catalog, telecommunications, utilities, media, insurance, automotive, leisure, e-commerce, manufacturing, and property and government sectors. Experian Group Limited is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. It has corporate headquarters in Dublin, Ireland, and operational headquarters in Costa Mesa, Calif., and Nottingham, UK. Experian employs approximately 15,500 people in 36 countries worldwide, supporting clients in more than 65 countries. Annual sales are in excess of $3.8 billion.
For more information, visit the Group’s Web site on www.experiangroup.com.
Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein may be the trademarks of their respective owners.
Contact:
Robin Wachner
Experian Public Relations
1 714 830 5192 Telephone
robin.wachner@experian.com Email