The changing economic climate is degrading the quality of traditional credit bureau location data, and our clients are experiencing a decreased hit rate at other data repositories
Norcross, GA (Vocus) August 13, 2009
Teletrack, an industry-leading provider of credit and fraud risk solutions for non-traditional lenders, today announced the launch of DebtorTrace™, a new, cost-effective information source that helps manage current recovery challenges, optimize collections efforts and maximize the ability to make right party contact.
DebtorTrace is supplemented by unique data sources, including a Teletrack corporate affiliate. The non-traditional data is obtained from online and in-store transactions that are not typically reported to traditional credit bureaus or other data repositories including payday loan companies, rental purchase stores, non-traditional consumer finance businesses, non-prime auto lenders and credit unions.
"The changing economic climate is degrading the quality of traditional credit bureau location data, and our clients are experiencing a decreased hit rate at other data repositories," said Dale Williams, president of Teletrack. "This increased demand for unique data prompted Teletrack to identify new resources for collection data."
DebtorTrace leverages a vast repository of unique data on non-traditional credit consumers that includes millions of employment related records in addition to residential location information. DebtorTrace Home provides new home phone and address information. In addition, DebtorTrace Job returns name of employer and employment telephone information.
"Teletrack provides updated telephone, address and employment related information to more than 6,000 lenders, debt buyers and debt collection agencies to help improve the collection of delinquent accounts," said Williams. "The addition of DebtorTrace to Teletrack's suite of collection services complements Teletrack's premium service skip tracing solution, PeopleLocation."
DebtorTrace is a batch service that is billed on a contingency basis and requires the submission of a minimum of 5,000 records. When the last known information for a consumer is supplied, Teletrack returns only information from the DebtorTrace proprietary database that is different from the information contained in the instruction file.
About Teletrack, Inc.
Founded in 1989, Teletrack, a wholly-owned subsidiary of First Advantage Corporation (NASDAQ: FADV), provides lenders and businesses with the actionable intelligence they need to make smart decisions. Businesses across the country access our consumer data for risk mitigation, identity verification, fraud detection and skip tracing. When businesses use Teletrack, they gain the right information at the right time to help them make the right decisions for the right reasons. Teletrack's databases access information from a variety of sources and contain unique, non-traditional consumer information that is not available from other sources. As an FCRA compliant consumer reporting agency, Teletrack gathers records from businesses across the country that cater to non-traditional credit consumers. For additional information, please visit the company's Web site at http://www.teletrack.com.
First Advantage Corporation provides innovative products and services that mitigate risk by helping businesses, non-profit organizations and government agencies make more informed decisions. Headquartered in Poway, Calif., the company has employees in 12 countries that support over 90,000 clients globally. More information about First Advantage is available at http://www.FADV.com.