Grand Rapids, MI (January 31, 2012) – WebRecon LLC is about to change all of the rules.
On Monday, Feb 20, WebRecon will relaunch as WebRecon B.O.L.D.: The Bureau of Litigant Data. The first-of-its-kind consumer reporting agency (CRA) will focus on verifying the identities of consumers who threaten or initiate certain types of legal actions against collection agencies, including FDCPA, FCRA and TCPA.
The benefits of approaching litigant data in this way are many, according to WebRecon CEO Jack Gordon. “We have been tracking litigants for over three years now, but there have been some frustrating limitations,” said Gordon. “In order to truly have the freedom to provide the most useful client experience, it became obvious that we needed to do it as a CRA.”
Two of the major benefits of this move are the ability to confirm consumer data directly with the defendants in consumer litigation, and the ability to track consumers who send demand letters but do not actually file suit. In both cases, FDCPA’s prohibition on 3rd party disclosure has prevented collection agencies from being able to effectively cooperate. WebRecon’s Bureau of Litigant Data provides agencies a compliant pathway for both types of data to be provided, compiled and ultimately shared with other agencies.
Collection agencies have reported a 400-500% explosion in pre-litigation demands from consumers in recent years, according to Gordon. Viewed in the context of a declining growth rate in filed-FDCPA lawsuits, it seems clear many on the consumer side have shifted tactics to better stay under the radar.
“The industry has been demanding a better solution to these problems for years,” says Gordon. “As the only company with a 100% focus on consumer litigants, WebRecon is the natural choice to push the matter forward with a dedicated, comprehensive solution to tracking, compiling and disseminating this data in an accurate and responsible manner.”
WebRecon has introduced several litigant tracking innovations to the collection industry since its launch in January 2009. Among them…
WebRecon will be exhibiting at next week’s DBA International conference at the Aria in Las Vegas, and will use that opportunity to introduce this exciting new service to the industry.
Collection agencies and law firms interested in more information on how to participate should contact WebRecon through its web site at www.webrecon.com/contact. More detailed information will be provided to interested participants as it becomes available.