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Monday, May 27, 2024

Beginner’s Guide To Skip Tracing: How Does It Work?

As a business owner, you rely on your customers to pay you for your products and services on time so that you can continue to pay your own vendors. When your customers are late on payments, it can cause a financial “traffic jam” for you. That jam gets even worse if customers with past due bills seemingly disappear with no intention of paying the bill. In situations such as this, it may help to hire someone who can help you find your missing clients and in turn, you missing money. Hiring people to perform skip tracing is one option.

How Can Skip Tracing Help Me?

There are several ways that skip tracing services benefit a business. One of the most important ones is that it provides important contact information about clients who have past due bills. Business owners can obtain cell phone numbers, mailing addresses, and other information that makes it easier to pursue money owed or take legal action. Skip tracing also provides information about delinquent clients’ personal circumstances, such as if they have filed for bankruptcy, were laid off, or passed away. This type of information can lead a business to use time and resources more effectively when deciding which debts to pursue and which ones to write off as unrecoverable.

Identifying People Who Owe You Money

Skip tracing for debt collection is essential for identifying the people who owe you money and pursuing them for payment. Skip tracers can do everything from check phone books across the country to searching massive public databases for cities around the world. Typically, skip tracing companies hire collection agencies that already have access to a variety of databases without the need for the skip tracers to purchase new information each time. In recent years, tracing has become somewhat easier, as people tend to keep the same cell phone numbers even if they move to new cities or states.

How Skip Tracing Works

By now, you’re probably asking yourself “how does skip tracing work?”. Despite the technical term, it’s not as complicated as it seems. Skip tracers use a variety of techniques for finding information about people who owe your business money. Beyond basic address and phone number searches, tracers also seek out acquaintances of your past due clients when necessary. They may search of corporate filings, perform criminal searches, and seek out members who are part of fraternal organizations. Other possible techniques include seeking out professional licenses or performing simple Google searches.

Don’t let clients get away with not paying you the money you’ve worked hard to earn. Hire a skip tracer who works with licensed collections agencies, has a proven track record of success, and works with you to help you understand what to expect during the process. With a skip tracer’s help, you are more likely to receive the money you are owed so that you can pay your own bills and continue to keep your business on the path to success.

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