Cost Efficient Skip Tracing

I was having a conversation with a friend of mine.(Runner Account)STEP THREE- TIER THE
One of the best collection managers around, ToddACCOUNTKeep in mind this rule of thumb. Usually,
from FDS in Wilmington NC. We were discussingthe more they owe the harder they hide. Setup
what a collection manager needs to know aboutyour search procedures on the value of the
skip tracing that will benefit collectors. Hisaccount. When going to a higher tier encompass all
response" skip tracing is important because yousearch procedures from previous tiers.Low
can't collect if you can't find them. However,BalanceStatistics show that a large majority of
collectors need to concentrate their time onthe residence of the United States move every
collections not skip tracing".Now that's a dilemma.four months. Find a trusted outsource company
So I started thinking, "How to streamline yourand once every four months batch these
skip trace process so that your collectionsaccounts out to them. Doing so more often will
process is not interrupted?"After some seriousnot be cost effective. Try to get discount prices.
head scratching and a couple of Dr. Peppers, theDevelop a strong relationship with your outsource
answer came. Below is a step by step process tocompany, if they produce lower than national
quickly and efficiently work a skip traceaverage (20%) use a different company.Quick
account.First, determine a set time to skip trace. IFindLet's answer two questions quickly. Is the
recommend non peak collection hours. Now, getperson deceased? Is the person incarcerated?
out of collector mode. Mental attitudes ofDetermine if they are deceased by going to enter
collectors and skip tracers are different. To skipthe name or the social security number. If they
trace is to play a game of chess, where theare reported as deceased information will show
pieces are real people.STEP ONE- FILTER THEwhen and where. If no information appears there
ACCOUNTCan you work the account in the firstis no record. To determine if the person is
place? Determine that it is not in a legal status,incarcerated in a federal prison, go to . For
under bankruptcy or assigned with any internalinformation about state prisons contact that
code that should not be worked. Filtering thestate's department of corrections.If no
account will save time and money. The mostinformation was found, go to You can search by
important filtering element is the value of thename, address and phone number. Try Enter the
account. Search efforts should be in direct relationstate, county, address or name and you will get
to the value of the account. In other words, thethe owner of the property, tax value, map of the
more they owe the more you should search.STEPneighbor and all kinds of good stuff!Full SearchHere
TWO- PROFILE THE ACCOUNTKnowing whatis where you pull out all of the stops. I use a
you are looking for makes it easier to find it. Theworksheet that I have developed over the years
same holds true when you are working yourthat has over 40 different helpful searches on it.
accounts. Determine the type of account beingHere are some of those searches: the credit
worked so that unnecessary steps are not takenreport (ONLY if you have legal access),
that waste time and money.First, check yourneighborhood stores, hunting/fishing license,
notes on the account and in the file. Confirm theworkers compensation records, possible civic
addresses and phone numbers were notgroups, leagues, trade associations, criminal record,
transposed or digits omitted accidentally. (Typocivil record, electric company, satellite company to
account) If the person has moved and hasname a few.Still not located? Consider placing the
honestly forgot to tell you. Chances are simpleaccounts to reputable companies (yes they are
searches will produce results. Contact neighbors,out there). Let them earn your business. Split
employment or references from the notes/fileaccounts between them. Only use one that will
and call ALL numbers, even if you think they aresign a Confidentiality Agreement and a Hold
disconnected- you never know. (UnintentionalHarmless, it never hurts to protect yourself.And
account) If the contact can't offer anyas always, happy hunting!
information then you may have a challenge.