LegalCollectionScoreSM
Suits are costly! Spend your valuable time, money, and resources cost-effectively by using PredictiveMetrics' (PMI) LegalCollectionScore!
Unlike any other collection scorecard, LegalCollectionScore uses ground-breaking predictive metrics to predict two outcomes providing the most profitable debt collection. The first is the traditional payer score, while the second is unique and advantageous in predicting dollars to be collected. This combination along with the extensive reporting PMI provides, gives you a superior tool for developing a collection strategy based on cost, effort and impact, while expending collection resources and personnel most effectively.
LegalCollectionScore is an empirically derived, multivariate predictive scoring model that was developed by using payment recovery behavior specific to charged-off bad debt collections. PMI's database encompasses more than 10 million observations which we blend with socio-economic and demographic data and apply advanced statistical techniques. No bureau data is required to produce these accurate scores. This collection scoring model can also be used in the due diligence process of bad debt buying and bad debt selling.
Your own internal placement data is applied, resulting in several advantages:
- The data is readily available and it’s free
- Proven to be a much more powerful predictor of collection success than scores based merely on bureau data
- Information is specific to type of debt (i.e., medical collections, credit card collection...), age and balance
- Ability to predict expected dollar value and payers for optimal bad debt recovery
The output of the model is a predictive score that is used to develop collection strategies optimizing your return on investment. LegalCollectionScore is implemented on PMI’s system and file transfer occurs through encrypted FTP Internet. No scoring software required, minimizing IT resources. Model is continuously validated and updated to ensure predictiveness stays intact.Benefits of LegalCollectionScore
- Maximize liquidation rates by using a dollar and payer score to rank order collections
- Prioritize and segment collections based on cost, effort and expected value
- Reduce collection costs and collection time using collection scoring
- Streamline operations, making better use of your internal resources
- More predictive modeling since it reflects the debt type, placement status, and balance
- Multifunctional: Debt collection, debt buying and selling
PMI offers a FREE VALIDATION ANALYSIS of LegalCollectionScore to provide mathematical proof that the score determines the probability of payment and amount to be collected on your portfolio.
For more information contact Consumer Sales
