• DD-Square-Logo_resized
  • ATTEND LAS VEGAS
    • Attendee
      • Registration & Pricing
      • Agenda At-A-Glance
      • Exhibitor List/Floor Plan
      • Sponsor List
      • Hotel & Travel
      • Hosted Dealer Program
      • FAQ
      • Mobile App
    • Exhibitor
      • Exhibit/Sponsor
      • Advertising Opportunities
      • Exhibitor Resources
      • Exhibitor Tips
    • Education
      • Overview
      • Show Schedule
  • ABOUT
    • Conference Overview
    • Best Of Awards
    • Become a Speaker
    • Press Inquiries
    • Partnership Programs
    • Health & Safety
    • Contact Us
    • Get Updates
  • RESOURCES
    • Webinars
    • Downloads
  • NEWS
    • Auto Retail News
    • Digital Editions
    • Press Releases
    • Submit Editorial
    • Subscribe
  • .
  • ATTEND LAS VEGAS
    • Attendee
      • Registration & Pricing
      • Agenda At-A-Glance
      • Exhibitor List/Floor Plan
      • Sponsor List
      • Hotel & Travel
      • Hosted Dealer Program
      • FAQ
      • Mobile App
    • Exhibitor
      • Exhibit/Sponsor
      • Advertising Opportunities
      • Exhibitor Resources
      • Exhibitor Tips
    • Education
      • Overview
      • Show Schedule
  • RESOURCES
    • Webinars
    • Downloads
  • ABOUT
    • Conference Overview
    • Best Of Awards
    • Become a Speaker
    • Press Inquiries
    • Partnership Programs
    • Health & Safety
    • Get Updates
  • NEWS
    • AUTO RETAIL NEWS
    • PRESS RELEASES
    • DIGITAL EDITIIONS
    • SUBMIT EDITORIAL
    • SUBSCRIBE

Las Vegas: Oct 17-19, 2023

REGISTER NOW EXHIBIT / INQUIRE
Q

NEWS:

Finance & Insurance News | Trending Industry News
September 14, 2016

Quartet of Third-Party Collection Tips That Could Help Repos & Recoveries

Posts:
Finance & Insurance News | Trending Industry News
September 14, 2016

Quartet of Third-Party Collection Tips That Could Help Repos & Recoveries

CHICAGO – TransUnion recently pushed out a series of recommendations to help companies that specialize in third-party debt collections. However, some of the suggestions could help first-party companies who are involved in repossession and recoveries in the auto finance space.

TransUnion emphasized that with a primitive strategy at play, a collections company cannot function at its full potential. With that sentiment in mind, here are some of the tips from TransUnion’s Collections Insights team:

Group inventory for scale and performance
TransUnion stressed the collections challenge is knowing how to work a large inventory for the best return at the lowest cost. The firm recommended that a logical, scalable grouping is a way to help companies approach their plan and that it’s essential to efficient and effective operations.

“Our experts suggest grouping your inventory with the top 10 percent comprising your A group and splitting the rest into equal thirds,” TransUnion said. “This grouping allows you to achieve good recovery performance with the maximum operational productivity.

Quarantine specialized inventory
TransUnion pointed out that every portfolio contains specialized segments of inventory important to both compliance and recovery. These should not be included in your general inventory because they require unique collection treatments.

Those special segments can include accounts where the debt holder is an active member of the military or filing for bankruptcy.

Create a control group
TransUnion explained that a control group allows companies to know whether or not your strategy is working, and can provide insight into where to make necessary improvements. Peter Ghiselli, vice president of third-party collections at TransUnion, said that it’s imperative to truly understand the value recovery scores bring to your business and prove return on investment.

Click below to read the full article:
Auto Remarketing

Finance & Insurance News•Trending Industry News

SHARE

Share on Email
Share on Linkedin
Share on Facebook
Share on Pinterest
Share on Twitter
← Previous Article Next Article →
Posts Industry Press Releases

One View Integrates with Autosoft to Enhance Document Digitization for Auto Dealerships

One View becomes certified partner of Autosoft’s Partner Program – providing seamless integration between both systems One View, an auto industry-specific data solution specialist, announced the integration of its document management system with
Posts Marketing & AdvertisingTrending Industry News

How Does Google Analytics 4 Impact Call Monitoring?

Google Analytics 4 (GA4) is here, and Universal Analytics (UA) is a thing of the past. So, what is the big difference between GA4 and UA, and what does it mean for dealerships and their automotive call monitoring solutions? Universal Analytics (UA) o
Posts Industry Press Releases

One View Integrates with Autosoft to Enhance Document Digitization for Auto Dealerships

One View becomes certified partner of Autosoft’s Partner Program – providing seamless integration between both systems One View, an auto industry-specific data solution specialist, announced the integration of its document management system with
Posts Dealer Ops & LeadershipTrending Industry News

Three Key Areas to Focus on for Fixed Ops Success

A well-managed BDC can significantly impact sales, raise service profits, and increase retention, but achieving success in this field requires three key ingredients: Focus, People, and Consistency. Without these elements working in tandem, even the m
Posts Dealer Ops & LeadershipTrending Industry News

Astroturfing: What it is and Why Your Dealership Should Avoid it

Astroturfing is organized activity that is intended to create a false impression of a widespread, spontaneously arising, grassroots movement in support of…something…that is in reality initiated and controlled by a concealed group…or corpora
Posts Uncategorized

Cracking the Code: Driving Team Action Post 1-on-1s

Ever left a meeting whether it’s with your team or a 1-on-1, on cloud nine, believing your team was all set to conquer the world, only to find their enthusiasm fizzling out days later? The challenge lies in converting intentions into actions amidst
Posts Sales & Variable OpsTrending Industry News

How End-Of-Year-Sales May Impact Auto Finance Digital Transformation Strategies

Following a challenging sales environment in 2022, a noticeable recovery in the automotive sector has stabilized in 2023. This year, even as supply chain problems subsided, new challenges emerged, such as the persistent risk of a potential recession,
Posts Industry Press Releases

Mopar and Petra Automotive Products Partner to Launch New Maintenance Products to Dealers Across North America

Petra Automotive Products, the fastest growing premium automotive products manufacturer in the world, is proud to announce 11 of their best-in-class products will be launched under the Mopar® brand for Chrysler, Dodge, Jeep®, Ram and FIAT® dealers

NEWSLETTER

SUBSCRIBE

DEALER MAGAZINE

Dealer Magazine March/April 2023 Issue Featuring an Interview with NADA 2023 Chairman
MAGAZINE
Digital Dealer Logo White
FOLLOW US ON
  • Follow
  • Follow
  • Follow
  • Follow
  • Follow
© 2023 Emerald X, LLC. All Rights Reserved.
ABOUT    CAREERS    AUTHORIZED SERVICE PROVIDERS   DO NOT SELL MY PERSONAL INFORMATION   TERMS OF USE   PRIVACY POLICY