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As a Legal firm, what are your pain points?

19 May 2020


1.    Lack of current contact information of debtors:


It goes without saying that successful recoveries rely on the ability to contact a debtor i.e. without current information you cannot recover the debt.


Primary reasons for a lack of contact information could be:

·      Debtor regularly changes their address information moving from one rental property to another.

·      Falsification of information during the credit application process


Solution: Establishing information verification and authentication by ensuring realtime updated information from reliable sources.


2.    Lack of ‘enough’ information to identify and contact debtors


Sparse information prevents successful recoveries leading to an inefficient use of tracing agents’ efforts which in turn prevents positive action being taken on the defaulted account.

Given the extent of data captured and kept in public records, the reality is that an organisation experience difficulty in consumer identification and tracking because the information is not where one would expect it to be.


Solution: Investigate a debtor’s third-party connection in the form of relationship links, property ownerships, co-employees and company information.


3.    Difficulty in accessing more than just the basic information about the debtor


You may have a debtor’s basic information like an address or phone number. But successful recoveries require more ‘astute’ means of making contact and obtain that ‘promise to pay’. This maybe information about their spouse, employment or known associates.

Unnecessary time and resources are wasted in trying to trace data from public records, assembling and most importantly making sense of raw and complex data.


Solution: Hire a person internally to manage this data gathering task or choose an organisation that has the means and infrastructure to setup the information that you require efficiently and effectively.


4.    The problem of ‘Too Much’ Information


Having a tracing agent spend ‘too much’ time on collection efforts is counterproductive, especially when you trying to achieve debt recovery targets whilst managing operating costs like telephone and salaries.

In order to ensure the most effective recovery possible, information needs to be organised so that time is not wasted examining data.


Solution: As in point 3, the least costly approach would be to utilise a debtor tracing platform that has already done the ‘heavy lifting’ by providing a unique view of the debtor using multiple data points




Inspirit Data Analytics Services is such a platform that provides analytics by managing the volume of data stored in various silos.



Try our Approach:

Debt Collections made easy with Fast, efficient and proven techniques



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