How Easily Can You Find Probate Accounts in Your Portfolio?

Brian Welch,
American InfoSource

Potential brand exposure in the deceased collections space has motivated many organizations to evaluate specific strategies for identifying and servicing probate accounts.

By resolving accounts through a court-driven estate process, rather than collecting directly from survivors of deceased account holders, organizations reduce headline risk and mitigate reputational concerns that could impact their brands.

However, detecting probate accounts in a portfolio is a challenge for most issuers. Unlike bankruptcy, there is no central database where identification of all new probate activity can be tracked.

To pristinely identify probate activity, organizations must have access to a robust data source, which requires a significant investment of time and money.

PRECISION Probate Strategies has taken a unique approach to assembling and managing probate data. PRECISION’s database serves essentially as a “mirror image” of the probate court system, with a case number accountability program that ensures the database is the most comprehensive in the industry.

Last week, PRECISION published a whitepaper here on insideARM.com: “Tracking Probate Activity: Portfolio Segmentation Tools for Strategic Recovery.” In it, we look at how companies can minimize risk and maximize recoveries by segmenting deceased accounts into probate and non-probate asset classes.

PRECISION specializes in data accumulation of probated estates, detecting probate as it occurs within a portfolio, and optimizing recovery for the probate segment through servicing. PRECISION can support your organization with the data and services necessary for isolating all probate accounts within a portfolio and filing timely, compliant claims.

We encourage you to download the whitepaper. And then, feel free to share any questions you have about our information either here in the comments section, or in an email enotices@americaninfosource.com.