(Add to Favorites | View All Articles | Resource Directory)
|
|
|
The Types of Skip Trace Accounts
First, we need to define the different kinds of skip trace. There are three basic types of skip trace accounts, they are: The Typo Account This account is really not a skip trace account. The reason that the information is not correct for this debtor is because their information was erroneously inputted into your record system. A common example of this is- John Q Debtor 123 Main St and it is put into your record system as 321 Main St. This kind of account is usually fairly easy to correct. The Unintentional Account This account happens because the debtor just does not notify your company to update their information with your company when they move and change residences. Most of the time they are not trying to hide from you, they just moved and forgot to tell you. They are making no efforts to hide their current location. The Professional Runner These are the hard ones! The reason for someone to be in this category can vary. They will either fall into one of two sub categories. It could be that they live paycheck to paycheck and have fallen behind and have no idea how to catch up so they avoid you until they can figure out a way to repay you. They honestly intend to repay you they just don't know how. The other end of this spectrum is the individual who really has no intent on repaying in the first place. These debtors make every effort to cover their tracks, move often and tell untruths to avoid contact with you. To know which type of skip trace account you have helps you determine which direction to move within the account. For example start off by checking the information in your record system with any paperwork that would have been originally filled out by your debtor. Make sure it matches. It does, Okay. What else is there? Are there any references, emergency contacts, someone else on the account or employment information? What was the last bit of information that you got from your customer? Does your company utilize caller ID? If not, you should. Record the phone numbers coming in. You never know when this could be useful. Reverse the number and see who it belongs to. In your record system do you keep notes each time there is contact with your customer. Review the notes what are some clues? If you do not, it is extremely recommended that you start! Did your customer send you a payment by mail? What are the name and the address on the check? What is the postmark on the envelope? This has been an introduction to skip tracing. This is only the first step of many to become well versed in skip tracing. There are volumes of information on how to locate people, collateral and assets some can really help you out. Happy hunting. Ron Cooper
MORE RESOURCES: News provided by Yahoo! News and Google News Small biz and targeted tax breaks moving in Fla. House - Bizjournals.com This Week in Small Business: Jobs! Small business lending fund will profit taxpayers - Treasury 5 tax tips for small biz - El Paso Inc. Proposed Regulation Grants Agencies the Discretion to Waive Small Business Set-Asides, According to the American Small ... Wilmington council considers small biz help along with ballpark - WWAY NewsChannel 3 Small biz acquisition as a tech talent raid strategy - ITBusiness.ca (blog) Oh baby! Small biz scores huge Angry Birds deal - CNN |
|
|
|
RELATED ARTICLES
The Step Zero Effect The key to organizational focus and helping those who need what you do is knowing, precisely, what you do well -- and what you don't do well.Once there was a semiconductor company in financial trouble. Share Ad Expenses to Boost Profits The challenges of the small business owner are well documented. They must battle for market share against larger competitors, run all aspects of their business, and even pay higher rates for advertising and other marketing related expenses. Define business goals - crucial to success Scenario OneDuring a recent presentation, a business owner was given the following challenge. If 10 of his 100 employees were asked to name the top 3 organizational goals for the current year as they perceived them to be, would he receive the same 3 goals from everyone or would he receive 5, 10 or even 25 different goals? The business owner shook his head and thoughtfully responded, "No, I am sure that I would receive more than 3 goals. Wichita Kansas is a Great Place to Run a Business We love Wichita because it has great all round weather except during ice storms and the once in a while Tornado threat, which could carry away you best workers to meet Dorothy. 225 sunny days a year snow about 5 days a year. Top Ten Tips for Leveraging Conferences for Big SUCCESS! As I am preparing for my attendance to the CoachVille's Third Annual Coaching Conference, I have been considering how I can make the most of my conference attendance. These ten tips will support you in leveraging those conference you will attend in the future and for creating an unforgettable experience!1. Round Pegs In Round Holes: The Amazing Secret of Succeeding in Any Business Every Time! Success is the desire of everyman on the face of this earth. There is no normal human being without this yearning. Not Listening Can Hurt Your Small Business Most small business owners seek advisors who can help them improve their businesses. They want advice from those who have the experience and really know what they're talking about. The Advisory Board: A Business Owners Most Valuable Resource As a company grows, the owner's role begins to change. More and more of the owner's time is spent "in the shop or in the field" handling day-to-day operations rather than focusing on high-level planning and strategic issues. How To Cut Expenses And Manage Your Business If you own a small business, you should know that often times it can be the little things, rather than the large expenses, that can eat away at your budget. But many times, small business owners will try and increase their profits by looking around at what larger expenses they can cut. What is Rule 15c211 and Reverse Merger Rule 15C211Under SEC Rule 15C211, a U.S. Asphalt Paving: Striping Your Parking Lot As you may already know, asphalt paved parking lots do need maintenance from time to time. One known asphalt paving maintenance technique is to have your parking lot re-striped to add a nicer look to existing asphalt paving properties. Electronic Franchise Disclosure and E-Signature Future for Investors It has been discussed allowing Franchising companies to electronically disclose franchise documents to the public and prospective franchisees. If the Federal Trade Commission wants to make UFOC information available electronically through email to catch up with the newest technologies then it will get complaints and make up another rule saying no unsolicited UFOC maybe sent through email. A Gift Basket Home Business is an Easy Way to Wrap up Profits You want to know more about making money with your own gift basket home business. You are a creative person and want a career that you can control and find rewarding at the same time. One Of The Best New Business Opportunities May Be Right In Your Home - A New Daycare Business The day care industry is expanding. There are now more than 100,000 licensed child-care centers and 250,000 licensed family day care homes across the United States. Employee Relations Manual Sample Outline Most smart entrepreneurs and all large corporations have Employee Relations Manuals. Nearly all businesses with over five or more employees have some sort of employee manuals but not all have Employee Relations Manuals for their managers. Small Business Owners - They Owe You The Money Why Dont They Pay? Doesn't it frustrate you when you've given good service, sometimes super service, and the customer doesn't pay you?Some of them aren't doing too well and are struggling for cash, but, gee, so are you. In the time they take to pay they could have paid off a little each week and the debt would be gone. Making Your Purpose Your Business Step #2- Getting From Point A to Point B In my previous article, Step 1, your challenge for the month was to research where your passion lies. Based on your research you might have discovered that self investigation can lead us to two places; either we find out our answer or we realize we need to ask more questions to get that answer. Pressure Washing Business Case Study, Tractor Cleaning So often small service businesses fail to exploit niches, which have little if any competition. I know as I built my companies we always tried to identify all the market niches and go after them. Outsourcing Payroll and check printing should only be a last resort Business checks are available in many styles and varieties. They offer many benefits to your small business, some you may not have thought of. Time to Sell your Restaurant? Some Advice from Restaurant Consultants, Inc. As a specialist in getting restaurants open, it is surprising how many people ask, "How can I get out of my restaurant?" Reasons for this question vary greatly, from a death in the family to a merger with another firm, to the end of a lease.Selling your restaurant requires quality prior planning if you are going to realize the maximum value for the business.
|
| Home | Site Map | Privacy Statement | More Articles |
| © 2006 |