August 17, 2009
Teletrack Intros DebtorTrace
By Jai C.S., TMCnet Contributor
Teletrack, a wholly-owned subsidiary of First Advantage Corp. and a provider of credit and fraud risk solutions, reportedly launched a new, cost-effective information source, DebtorTrace, aimed at helping its clients to manage current recovery challenges, optimize collections efforts and maximize the ability to make right party contact.
"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, in a statement. "This increased demand for unique data prompted Teletrack to identify new resources for collection data."
DebtorTrace is supplemented by unique data sources, including a Teletrack corporate affiliate, obtained from online and in-store transactions that are not typically reported to traditional credit bureaus or other data repositories.
This new cost-effective information source is said to be a combination of a vast repository of unique data on non-traditional credit consumers that includes millions of employment related records in addition to residential location information. Moreover, DebtorTrace Home offers new home phone and address information. In addition, DebtorTrace Job returns name of employer and employment telephone information too, said the company official.
"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," Williams said.
The new addition of DebtorTrace to Teletrack's suite of collection services complements Teletrack's premium service skip tracing solution, PeopleLocation, Williams said.
As a batch service, DebtorTrace is billed on a contingency basis and requires the submission of a minimum of 5,000 records. Thus, when the last known information for a consumer is supplied, Teletrack returns only information from the DebtorTrace proprietary database which is different from the data available in the instruction file.
Founded in 1989, Teletrack offers lenders and businesses with the necessary intelligence which will help them make smart decisions. As an FCRA compliant consumer reporting agency, Teletrack gathers records from businesses across the country that cater to non-traditional credit consumers.
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Jai C.S. is a contributing editor for TMCnet. To read more of Jai's articles, please visit his columnist page.
Edited by Jessica Kostek