Mr. Green had an original balance of $5,000. The creditor purchased asset data on Mr. Green from a large data vendor for $1. The vendor’s data indicated that Mr. Green owned a home, but the data was not accurate and there was NO HOME from which to draw value. Five years and $449 in data and court costs later, the only thing the creditor has to show for the bad data is a dormant judgment and no payments. If the creditor had used RDS’s Paymetrix suite to obtain accurate and actionable asset data, the creditor could have better prioritized, saved the court costs associated with this judgement and focused on accounts with a much higher likelihood of paying.
GROSS COLLECTED: $0
The Story: Bad data for Cheap + Extremely Low Likelihood of
Paying=Wasted Cost and Time and Lost Opportunity on Better Accounts.
Mr. Yellow had an original balance of $4,500. Mr. Yellow’s creditor took a strategic approach and partnered with RDS to obtain accurate and actionable asset information and predictive modeling. Using RDS’s Paymetrix suite of industry-leading analytical products, the creditor discovered a VERIFIED HOME and a solid EMPLOYMENT HISTORY, leading to an estimate that Mr. Yellow had a 57% likelihood of paying. Now, 18 months and $460 in data and court costs later, the creditor has collected $3,173 gross, OR 3X their investment.
GROSS COLLECTED: $3,173
LIKELIHOOD OF PAYING: 57%
The Story: 18 Months + High Cost + High Likelihood of Paying=3.0 Times Return On Money.
Mr. Pink has an original balance of $5,500. The creditor leveraged RDS’s complete Paymetrix capabilities and identified that Mr. Pink had verified core assets of a HOME and LENGTHY EMPLOYMENT history. Paymetrix proprietary data-mining process tracked and analyzed 76 variables in Mr. Pink’s profile that produced an estimate that that Mr. Pink had an 82% likelihood of paying. Paymetrix delivered powerful data that helped prioritize this suit. Now, 14 months and $451 in data and court costs later, the creditor has collected $3,307 gross, or 4.2X their investment..
GROSS COLLECTED: $3,307
LIKELIHOOD OF PAYING: 82%
The Story: 14 Months + Lower Costs + Very High Likelihood of Paying= 4.2 Times Return on Money.
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Timothy F. Rooney, Esq.
Recovery Decision Science10625 Techwoods Circle Cincinnati, OH 45242