TransUnion Introduces Child Support Solutions at a Time When More than Half of Custodial Parents are Not Receiving Full Payments
Securing child support payments can be a difficult task for custodial parents. In fact, a U.S. Census Bureau report from 2018 found that less than half of custodial parents received full child support payments. In an effort to increase these payments without relying solely on enforcement, TransUnion (NYSE: TRU) today is launching its Child Support Solutions.
TransUnion Child Support Solutions help state child support offices detect whether or not a non-custodial parent’s financial situation is worsening or if that individual may have a new ability to make payments. Additionally, the solutions provide location, address and contact information for finding non-custodial parents.
The solutions are unique to the market because they allow state offices access to data all in one place. TransUnion is also the only provider offering automated monitoring, providing notifications when new contact information, employment data or tradelines appear.
“Part of our mission at TransUnion is to help children by encouraging support from non-custodial parents. We know early interventions can strengthen results – and families,” said Jonathan McDonald, executive vice president of TransUnion’s public sector business unit. “A recent U.S. Census Bureau report found that custodial parents only received 60% of an expected $33.7 billion in child support payments. We expect this percentage of payments will increase significantly if more organizations leverage the power of our solutions.”
The Child Support Solutions leverage information generated from TransUnion’s CreditVision® trended credit reports and scores as well as TLOxp® — the proven search and locate tool. “Using the power of the combined offerings in one automated, easy-to-use interface, gives child support office administrators the ability to help families immediately,” added McDonald.
TransUnion will be featuring its Child Support Solutions during the 2019 NCSEA Leadership Symposium in Minneapolis, a conference dedicated to developing leadership in the child support community. For more information about TransUnion Child Support Solutions please click here. Access a video about the power of the solutions here.
About TransUnion (NYSE: TRU)
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion has a global presence in more than 30 countries and a leading presence in several international markets across North America, Africa, Europe, Latin America and Asia. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide.
We call this Information for Good.®