A state agency was able to update 85% of its debt file and collect or recover $4.2 million by working with LexisNexis.
“In a recent test of a file containing 16,000 debtor identities, 4% of the identities in the file had changed in just 6 weeks.”
- Scott Straub, Federal Civilian Strategic Market Planner for the Government Business Division, LexisNexis Risk Solutions
On average, 35% of delinquent debtors move annually and 50% need to be skip traced.
How can governments make up the shortfall when it has suffered with a sequester sapping over $100 billion from the budget every year through 2021? Uncollected debts. Learn More >>
After 5 years, 60% of the identities on record will be inaccurate. That means that out of every 100,000 people who have an outstanding debt in year one, only 40,000 will be reachable through their original information. Learn More >>
LexisNexis has found that about 70% of states’ outstanding debt or $280 billion is collectable when debtor identities can
be resolved. Learn More >>
We have analyzed hundreds of millions of identities across dozens of federal, state and local systems for identity risk, and are the global leader
in mitigating identity risks. Learn how others have done it through an identity solutions demonstration today.