Chicago, June 22, 2009 – TransUnion announced today that it will utilize data from FDCPA Case Listing Service LLC to provide an added feature for batch records delivered via TransUnion’s Collections Prioritization Engine. The new solution is named FDCPA Case Search and allows TransUnion to alert collectors about accounts that may have previously been involved in FDCPA litigation to assist collectors in determining strategy.
“Consumer lawsuits against collection agencies have become more prevalent and they can prove to be costly for debt buyers and both first- and third-party collectors,” said Scott Carter, group vice president of TransUnion’s collections vertical. “With an annual subscription to TransUnion’s FDCPA service, collectors can utilize the solution for a cost-effective means to help handle debtor accounts that may have potential to result in a legal action.”
According to FDCPA Case Listing Service, 5,383 cases were filed in 2008 against collection agencies in U.S. District Court for alleged violations of the Fair Debt Collections Practices Act (FDCPA). This represents a 41 percent increase in FDCPA litigation in 2008 in Federal Court over 2007 case volumes. Case volumes in 2009 are expected to exceed 7,300 for the calendar year.
“This is a great day for agencies, debt buyers, and creditor rights law firms,” said Bill Pinkney, founder of FDCPA Case Listing Service LLC. “So many companies have approached us looking for a completely integrated solution to accompany their current work flow strategy. Our product is a perfect complement to TransUnion’s Collection Prioritization Engine which is why we’ve partnered with them. Given the increases in placement volumes, the ability for agencies, debt buyers, and creditor rights attorneys to accurately and systemically identify these accounts is critical.”
As a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion has employees in more than 25 countries on five continents. www.transunion.com/collections
About FDCPA Case Listing Service LLC
Founded in 2007, FDCPA Case Listing Service is the premier provider of consolidated research tools designed exclusively for collection agencies, debt buyers, and creditor rights law firms. Searchable databases are designed to capture FDCPA and TCPA litigation in the US District Courts in the United States. These tools are used to mitigate risk, manage compliance initiatives, and provide a centralized reference database.
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