Manual skip tracing can be a time-consuming process.
Most of the time, the customers that owe us money simply fell behind because they ran into some bad luck and need a little help getting back on track. But every once in a while, there is a customer that simply doesn’t want to pay debts owed. For these customers, there’s skip tracing, a debt collection service designed to track down even the most elusive debtors. This article will introduce you to this service and how it can help your company.
Debt Collection Agency – Skip Tracing 101
If the customer data on a past-due account is inaccurate, it’s time for debt collection skip tracing to swing into gear. The skip tracing service starts with the outdated contact information and begins to retrace the steps of the party they’re trying to find. At a firm like Rocket Receivables, sophisticated computer algorithms can take on a lot of the tasks more efficiently than a human could. While there still may be a human element to our detective work, we save our customers time and money by letting computers do the tough debt collection work for all of us.
Many smaller firms that simply don’t have the kind of resources invested in technology, conduct skip tracing in a kind of old-school Sam Spade approach. They use the Internet to manually hunt down family members and old friends to try to locate the past-due customer. They approach former employers or other contacts to try to find the customer. Many times they start with a good old-fashioned phone directory, in a time-consuming laborious process.
Don’t get us wrong; this by-hand method of skip tracing can pay off. But today, we believe tools like computerized artificial intelligence and machine learning algorithms can be essential in forging new and more intelligent workflows.
Manual skip tracing includes a process of using the internet with skip tracing websites that have access to public records databases to find any legal connections the past due customer may have. There are also professional skip tracing services that try to take the hassle out of the process – especially for the small business owner.
Experienced Debt Collection Agency – Rocket Receivables
Realizing better skip tracing results means selecting a debt collection agency with the tools to automate tedious and time-consuming functions such as skip tracing. Then our experienced collection agents can focus on having a respectful yet effective conversation with the past-due account holder in order to ensure that the debt is collected promptly. This is handled in compliance with federal and state regulations and in a way that maintains a professional relationship with your client and honors your reputation.
We know you have several choices when selecting a debt collection agency. Make sure the team you choose has the expertise you need while maximizing your ROI. Rocket Receivables can customize your skip tracing and debt collections efforts to ensure you receive positive results faster and easier. To buy now or discuss our work to improve your A/R, contact us. We’re ready to help you recover what’s owed to you.