Expanding the amount of data available to collection experts can increase the amount of money they are able to recover, according to a new report from consumer data firm TransUnion.
TransUnion found that an expanded data approach led to the recovery of 9% more money and increased the number of payers by 3%.
The Chicago-based firm analyzed 40 million accounts from 15 collection agencies and debt buyers. The firm's analysis covered credit card, medical, student loan, telecom and utility bill debt, and TransUnion defined "recovery" as $50 or more collected over 12 months.
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