Being an owner of a reputed business house is not a matter of joke. From making business plans to keeping a watch on your employees, you’ll have to be well-acquainted with multitasking. Hence practically, it won’t be possible for you to leave all your work and responsibilities and chase after the debtors. However, do not worry. There’s a very simple way in which you can get back all your debts on time and that too without any hassle; and that is by getting in touch with a reputed and reliable debt collection agency.
A commercial collection agency will do anything and everything possible to help you get back your dues. They’ll keep calling, mailing, and sending postal mails to the debtor. And, in case the debtor isn’t responding or has changed his/her home and office address, phone number, or has completely relocated to a different state or country, then the agency would put in more efforts to locate the debtor or find out all the latest information related to him or her such as the current home and office address, phone number, places he regularly visits, etc.
Now you must be thinking how can a collection agency service locate and get all the latest information about the debtor, right? Well, here are the two methods they use in order to get information about the debtor who has fled or gone underground. Take a look.
- Skip Tracing Using Special Online Tools
Skip Tracing is a basically a method that is used to locate the debtors whose contact details are no longer in play or accurate. This method is generally performed by professionals also known as ‘Skip Tracers’. But in case of business debt collection agencies, the debt collectors are trained separately so that they can perform this.
Apart from locating a debtor, this method can be used for accessing a wide variety of other information related to the debtor such as:
- Criminal background checks
- Phone number databases
- Job applications
- Credit reports
- Credit card applications
- Public tax information
- Public records databases
- Loan applications
- Utility bills
- Air travel records
- Courthouse records
- Department store loyalty cards
- Driver’s license/vehicle registration departments, and much more
- Social Media Investigation
Apart from skip tracing, another method that most debt collectors apply when it comes to getting the latest information and whereabouts of a debtor is Social media investigation. This is a very new and really powerful method. And the best part is that the debt collectors don’t really have to put in a lot of effort to track the debtor. All they will have to do is using an easy-to-operate social media investigation tool.
The main reason why debt collectors or business debt collection agencies have chosen this method is because these days, using social media is literally an addiction; and most importantly, people belonging to almost every age group has a social media account. They keep updating various things from time to time and this can really help the debt collectors.
So, these are the 2 main methods that most of the debt collection agencies use to get information about debtors. To know more about debt collection, keep following my articles.
Author Bio- James Brook is a debt collector who is currently working for a popular commercial collection agency in Houston. You can follow his articles to know about best collection agency service in Houston and how business debt collection is done.