First, we need to define the different kinds of skip trace. There are three basic types of skip trace accounts, they are:
The Typo Account
This account is really not a skip trace account. The reason that the information is not correct for this debtor is because their information was erroneously inputted into your record system. A common example of this is- John Q Debtor 123 Main St and it is put into your record system as 321 Main St. This kind of account is usually fairly easy to correct.
The Unintentional Account
This account happens because the debtor just does not notify your company to update their information with your company when they move and change residences. Most of the time they are not trying to hide from you, they just moved and forgot to tell you. They are making no efforts to hide their current location.
The Professional Runner
These are the hard ones! The reason for someone to be in this category can vary. They will either fall into one of two sub categories. It could be that they live paycheck to paycheck and have fallen behind and have no idea how to catch up so they avoid you until they can figure out a way to repay you. They honestly intend to repay you they just don't know how. The other end of this spectrum is the individual who really has no intent on repaying in the first place. These debtors make every effort to cover their tracks, move often and tell untruths to avoid contact with you.
To know which type of skip trace account you have helps you determine which direction to move within the account. For example start off by checking the information in your record system with any paperwork that would have been originally filled out by your debtor. Make sure it matches. It does, Okay. What else is there? Are there any references, emergency contacts, someone else on the account or employment information? What was the last bit of information that you got from your customer? Does your company utilize caller ID? If not, you should. Record the phone numbers coming in. You never know when this could be useful. Reverse the number and see who it belongs to. In your record system do you keep notes each time there is contact with your customer. Review the notes what are some clues? If you do not, it is extremely recommended that you start! Did your customer send you a payment by mail? What are the name and the address on the check? What is the postmark on the envelope?
This has been an introduction to skip tracing. This is only the first step of many to become well versed in skip tracing. There are volumes of information on how to locate people, collateral and assets some can really help you out.
Happy hunting.
Ron Cooper
ACCURATE INTELL.COM
http://www.accurateintell.com
PO Box 30485
Greenville, NC 27833
(252)375-0262
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