Delinquent Payers

Enformion for Delinquent Payers

It can be difficult getting delinquent payers of student loans or other financial aid to pay back their debts. See how Enformion can make the process easier.

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How Enformion Helps Colleges to Collect from Delinquent Payers

Student debt is a big issue these days, one without a clear resolution in sight. The sheer number of debtors and the large amounts they owe can make it a daunting process for any institution to try and collect. But Enformion can help.

Our vast database has the relevant information and efficient delivery processes that collectors need to find delinquent payers quickly and get those debts repaid.

Get Better Contact Data

The Enformion database contains billions of records from thousands of data sources, with updated information coming in all the time. What does that mean for your collections operations? It means that any incomplete or out-of-date contact data you may have can be enriched and updated, whenever and however you need it.

  • Get a delinquent payer’s current and historical contact information, as well as other data that can give you a more complete picture of their situation.
  • For continual updating and access to the complete data Enformion has available, you can integrate it into your own system via API.
  • Or you obtain updated data on an as-needed basis, either in larger batches or smaller individual searches on our online search platform.

Streamline the Collections Process

So much time and resources can be wasted in typical collections processes: calling multiple old numbers in the hopes of finding a debtor, mailing notices that get returned. With the better contact data that you can get from Enformion, a collections team has a much better chance of making right-party contact the first time, which means faster debt reconciliation.

  • If you always have the right contact information, it follows that you can immediately get in contact with a subject.
  • But can that subject pay? A Debt Recovery Assessment can analyze certain factors in a client’s history (bankruptcy, death records, etc.) to determine the probability of payment.
  • Such tools can help collections teams to focus their efforts where most needed and improve overall efficiency.

Find Delinquent Payers Faster

The fact that our data is up-to-date means that you are always up-to-date on the current whereabouts of a delinquent payer. This can also include those debtors who really don’t want to be found. Enformion offers advanced skip tracing tools that use existing data to extrapolate the debtor’s most likely current location and contact information.

  • Even if a debtor moves without providing a forwarding address, or changes his or her name, other related data can still lead to them.
  • Our advanced algorithms find that information for you, leaving you to handle other essential tasks.
  • Finding subjects faster means faster negotiations and, ultimately, faster reconciliations of accounts.

Empower Financial Aid and Accounts Receivable Departments

Give your institution’s revenue departments the tools they need to do their jobs more effectively. Much of the contact information a college has about students (current or former) is frozen in time on filed applications and other related paperwork. Especially when it comes to debt, you need to give your teams a way to find those students where they are now, and work out repayments.

  • Making collections teams work with antiquated data can only result in slow, inefficient processes and low returns.
  • It won’t take much effort on their part or yours to update data; just give us what’s available, and we’ll take it from there.
  • We’ll return complete actionable data, quickly via the delivery modes each department requires.

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Talk with a specialist today to learn how Enformion can help to customize a solution that’s right for you.

Call us at 1-855-281-3915, or via online today.