Happy New Year! It is a time to make the necessary changes to your process to maximize your output. Simply put, we need to find more debtors! In the past we have talked about various ways to skip trace. Including resources, techniques and even potential changes to the skip trace industry. We have not discussed combining skip trace methods with resources.
Basically, there two methods of skip tracing, GHOST and SNIPER.
The GHOST method, obtains information through THINGS. Including public records, databases, and the like. The “SNIPER" develops leads through PEOPLE. Contact is made with individuals having some knowledge of the debtor. Interviews are used to develop leads. In the past we have discussed mainly the GHOST method. Let’s combine the SNIPER method with skip trace assist companies and skip trace locate companies and see what happens.
You may be asking yourself, when did hair start growing there? (Sorry, wrong article), or what is the difference between assist and locate skip trace companies? A skip trace assist company provides information about the debtor such as utility information, toll searches and the like. You then fold this information into other leads so that you can determine the location of the debtor.
A skip trace locate company will do the work for you. You outsource the account to them. The locate company develops leads and locates the debtor and provides you with the location information.
An assist company can be a major asset to the “SNIPER" skip trace method.
You discover new information (the debtor’s mother’s home phone number). You then hire a skip trace assist company to do a toll search on the number. A toll search shows any toll/long distance phone calls made or received over the last billing cycle. You reverse the phone numbers. You then call any number that could be a potential contact for the debtor. Using various interview techniques you develop leads accordingly.
You use a skip trace assist company to determine if the debtor has opened a utility account. The skip trace assist company returns information that the debtor does have utilities in their name. You then have several options. (Under the FDCPA you are limited to the information asked for AND the information released.)
Landlord- Determine the owner of the address. If the owner’s name differs from the debtor it may be a landlord/tenant relationship. You then contact the landlord and through various interview techniques to answer to the following questions:
· Does the landlord know the debtor’s employment?
· Do they have any contact phone numbers for the debtor?
· Do they have contact information for the debtor’s family / references?
Neighbor- Neighbor searches can be conducted by you to gain knowledge about the debtor. Through various interview techniques you would discover answers to the following questions:
· Does the neighbor know the debtor?
· Can the neighbor get a message to the debtor?
· Does the neighbor know the debtor’s employment?
People in the Same Residence- When contacting the potential residence third parties commonly answer the phone.
· Does anyone at this number know the debtor?
· Does or has the debtor ever lived here?
· Can this individual get a message to the debtor?
A skip trace locate company specializes in skip tracing. They have the skill sets, resources and contacts to locate debtors. They allow you to outsource it and forget it. There are many reasons as to use the services of a skip trace locate company.
Time- You may not have the time available to devote to skip tracing the accounts.
Skills- You may not as of yet, acquired the necessary skills to locate the debtor.
Turn around Time- You need the account resolved as quickly as possible.
Efficiency- You do not want to deal with the account and just want it resolved.
Most are reputable companies with checks and balances to ensure their skip trace process falls within legal guidelines. From the onset of your relationship make available several documents.
Confidentiality Agreement. This ensures the skip trace locate company will not divulge your company information OR your account information to third parties.
Hold Harmless. This holds you harmless of any actions obtained by the skip trace locate company. Chances are you will never use it, but it is not to have in place.
Standard Contract. Include prices lists, how updates are received, billing scenarios, what to do in case of bankruptcy, going legal, etc…
So put all of this together, let me know how it goes.
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
or organization.
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