| I was having a conversation with a friend of mine. | | | | (Runner Account)STEP THREE- TIER THE |
| One of the best collection managers around, Todd | | | | ACCOUNTKeep in mind this rule of thumb. Usually, |
| from FDS in Wilmington NC. We were discussing | | | | the more they owe the harder they hide. Setup |
| what a collection manager needs to know about | | | | your search procedures on the value of the |
| skip tracing that will benefit collectors. His | | | | account. When going to a higher tier encompass all |
| response" skip tracing is important because you | | | | search 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 on | | | | the 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 your | | | | and once every four months batch these |
| skip trace process so that your collections | | | | accounts out to them. Doing so more often will |
| process is not interrupted?"After some serious | | | | not be cost effective. Try to get discount prices. |
| head scratching and a couple of Dr. Peppers, the | | | | Develop a strong relationship with your outsource |
| answer came. Below is a step by step process to | | | | company, if they produce lower than national |
| quickly and efficiently work a skip trace | | | | average (20%) use a different company.Quick |
| account.First, determine a set time to skip trace. I | | | | FindLet's answer two questions quickly. Is the |
| recommend non peak collection hours. Now, get | | | | person deceased? Is the person incarcerated? |
| out of collector mode. Mental attitudes of | | | | Determine if they are deceased by going to enter |
| collectors and skip tracers are different. To skip | | | | the name or the social security number. If they |
| trace is to play a game of chess, where the | | | | are reported as deceased information will show |
| pieces are real people.STEP ONE- FILTER THE | | | | when and where. If no information appears there |
| ACCOUNTCan you work the account in the first | | | | is 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 internal | | | | information about state prisons contact that |
| code that should not be worked. Filtering the | | | | state's department of corrections.If no |
| account will save time and money. The most | | | | information was found, go to You can search by |
| important filtering element is the value of the | | | | name, address and phone number. Try Enter the |
| account. Search efforts should be in direct relation | | | | state, county, address or name and you will get |
| to the value of the account. In other words, the | | | | the owner of the property, tax value, map of the |
| more they owe the more you should search.STEP | | | | neighbor and all kinds of good stuff!Full SearchHere |
| TWO- PROFILE THE ACCOUNTKnowing what | | | | is where you pull out all of the stops. I use a |
| you are looking for makes it easier to find it. The | | | | worksheet that I have developed over the years |
| same holds true when you are working your | | | | that has over 40 different helpful searches on it. |
| accounts. Determine the type of account being | | | | Here are some of those searches: the credit |
| worked so that unnecessary steps are not taken | | | | report (ONLY if you have legal access), |
| that waste time and money.First, check your | | | | neighborhood stores, hunting/fishing license, |
| notes on the account and in the file. Confirm the | | | | workers compensation records, possible civic |
| addresses and phone numbers were not | | | | groups, leagues, trade associations, criminal record, |
| transposed or digits omitted accidentally. (Typo | | | | civil record, electric company, satellite company to |
| account) If the person has moved and has | | | | name a few.Still not located? Consider placing the |
| honestly forgot to tell you. Chances are simple | | | | accounts 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/file | | | | accounts between them. Only use one that will |
| and call ALL numbers, even if you think they are | | | | sign a Confidentiality Agreement and a Hold |
| disconnected- you never know. (Unintentional | | | | Harmless, it never hurts to protect yourself.And |
| account) If the contact can't offer any | | | | as always, happy hunting! |
| information then you may have a challenge. | | | | |