How to locate someone who owes you money
March 2nd, 2016 by New World Collections
In the course of collecting bad debt, sometimes part of the problem lies in having to locate someone who owes you money. As we all know, in the course of doing business you get returned mail on invoices, phone numbers are disconnected, or the person is no longer employed at their previous job.
So how can you locate someone who owes you money? First of all, depending on the type of business you operate, you may not typically ask for certain information from your customers. However, asking for this additional information on each account can help you in the long run:
*Social Security Number
*Driver’s License Number
*Emergency Contact Number
If you have hired a debt collection agency, this is valuable information that can be used by them to find someone. Debt collection agencies perform what is called “Skip Tracing”. Skip tracing involves utilizing this personal information to find a person’s new home address, new job, new home phone number or even cross-reference to find relative/next of kin contacts. This is often accomplished with specialized skip tracing software.
In summary, not every type of business will find it practical to obtain and use this information for themselves. However, those who can or do should put particular emphasis on getting this information upfront from their customers. Most importantly, you should hire a debt collection agency as the time will come when skip tracing is necessary to assist you in collecting some of your bad debt. Submitting this to the debt collection agency will make a huge difference in locating and collecting your debt.
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