Debt Buyer Software

 

Increase your debt collection dollars and protect your organization with Enformion’s solutions.

Enformion for Debt Buyers and Debt Collectors

Maintaining profit margins as a debt buyer comes down to reducing operating expenses. Enformion’s debt buyer software ensures you find the right people, thus getting you positive returns on investment.

 

Improve right-party contact rates
Reduce data costs
Reduce manual work and skip tracing
Close cases faster, saving time and money

Understanding a Debt Buyer

Companies often have to sell overdue debt when there is an extremely low chance that it will get paid. The third-party company that acquires this debt at a fraction of the total is known as a debt buyer. Either the debt buyer keeps all the collected money or a certain percentage.

A debt that has gone unpaid for a long period will cost less when a debt buyer acquires it. Therefore, debt buyers can buy large debt portfolios at a single time to increase their profit margins. All debt purchase is theirs to handle.

  • Reduce time compared to manual skip tracing.
  • Automate services help you spend time with customers, especially when you can customize them to fit your needs.
  • With one click, you can use Enformion to get information about nearly every adult in the United States.

Why use Debt Buyer Software

Owners of a debt-buying company need reliable private and public records search software to help them become more effective. Enformion's debt buyer software gives you the tool you need to safeguard your bottom line. Below are the top benefits of using debt buyer software when you primarily deal with debt claims.

Research Companies Selling Debt

The first step in purchasing debt is conducting research on the original creditor business. It is vital to know where the company gets its debt from – whether consumer debt, credit card debt or another form of debt. Equally, is this company selling debt at a standard price to get you the most rewards.

Debt buyer software will give you all the information you need about a debt-selling company. You can learn their history of default or bad debts to get you started on the right foot. Doing this helps you better mitigate risk and decide whether it is a worthwhile investment.

Make Right-Party Contact

You need the right contact information for delinquent accounts before buying debt. Having up-to-date contact also helps with skip tracing and may be a legal requirement in some states. For instance, debt collectors and debt purchases are sometimes required to send a letter to the owner of a delinquent account before making contact.

Debt buyer software gives you the vital contact information of debtors – including physical addresses, email addresses, and phone numbers. At Enformion you get access to billions of public and private records, thus ensuring right-party contact.

Learn more about Right-Party Contact

Reduce Data Costs

Making more money when you are a debt buyer will require you to shorten your collection process. Doing this is possible with debt buyer software because it helps streamline the entire process. Therefore, you can effectively reduce data costs.

  • Batch skip tracing
  • API integration
  • Vital to gathering information quickly
  • Automating parts such as data collection will save you a lot of time and money in the long run.

Reduce Manual Work

Some debt takes a lot of money and time to collect. Others, however, are impossible to collect since you don't have the legal right to do so – including deceased and bankruptcy accounts. You should only collect the first type of debt when you are a debt buyer.

However, you are responsible for ensuring you avoid legally uncollectible debt. Doing this can be a lot of manual work without the right tools. Debt buyer software gives you all the details you need to ensure you stay compliant while reducing the workload.

Empower your team with flexible solutions

Batch Processing

Update large amounts of data quickly and easily with our batch appending option.

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Enformion API

Our API solutions allow you to integrate software systems for in-depth searches and display custom results using your own existing applications. 

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Cloud-based Platform

Enformion's cloud-based platform provides easy and convenient access to data, whenever you need it.

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Your trusted partner

Building lasting relationships with our clients and partners with a single driving force and common purpose – that your continued success is Enformion’s success.

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