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
Traditional advertising methods are still being used for almost 90%... Read More
Let me get right to the point. The single most... Read More
Technical writing services are employed to explain the details of... Read More
Everyone loves a good story. Whether it's the story of... Read More
Do you like animals? Would you like to work for... Read More
Last summer the FTC put forth a report and then... Read More
You've always liked flowers and you think the idea of... Read More
Did you know that satisfaction is the number one emotion... Read More
Last week we discussed the importance of performing an autopsy... Read More
Many of us have noticed how some nearby communities seem... Read More
Here's why 'WHY' is such a profit-making marketing trigger."Stop taking... Read More
Pardon my enthusiasm, but a large part of your small... Read More
Opportunities for home show businesses have never been more abundant.... Read More
Administrative and clerical tasks are the bane of every industry.... Read More
In franchising an individual desirous of their own business will... Read More
Cleaning concrete is tough and there is an easy way... Read More
The Customer Analysis section of the business plan assesses the... Read More
Q: I will be retiring this year at age 60... Read More
Do you have a Business Plan? Congratulations, but you are... Read More
Free money! Receive up to $25,000 that never has to... Read More
What will your business look like a year from today?If... Read More
There is a rather famous true story called "Acres of... Read More
Q: Is the online world the best place to sell... Read More
If you're organized, smart, capable and willing to work with... Read More
One of the best marketing strategies a business or organization... Read More
shuttle from Midway Morris ..Are you tired yet of all the books out there... Read More
Q: I'm curious. What is the dumbest business question you've... Read More
Business Process Automation or BPA for short. This was a... Read More
Traditional advertising methods are still being used for almost 90%... Read More
I agree that knowledge should be free, but the next... Read More
Many smaller businesses choose niche markets for various reasons and... Read More
Outsourcing is the strategic use of outside resources to perform... Read More
COLLABORATIVE NEGOTIATING:Collaborative negotiating is a win-win strategy that can focus... Read More
As a solo entrepreneur or small business owner, one of... Read More
1. Don't Spend Too Much Time PlanningWhen you are entering... Read More
Looking for ways to boost your cash flow? As a... Read More
Ongoing support for a franchise system is omnipotent. A major... Read More
We visited Lexus USA, home of the Lexus North America... Read More
One of the biggest excuses franchisees of home based and... Read More
It's obvious when a small business has accepted the fact... Read More
One major issue not being addressed right now in the... Read More
One way to determine your companies mission statement is based... Read More
In the first article we mentioned the main characteristics that... Read More
The following tips have come from a wide variety of... Read More
While driving through Pennsylvania farmland, you have probably noticed an... Read More
Every employee would like to earn as high a salary... Read More
The Franchise Group at the Federal Trade Commission in all... Read More
Your business account comes with an ATM, Debit card. Pick... Read More
What is a Family Business? A family business is basically... Read More
Sacred cows take a long time to die. We get... Read More
Small Business |