Skip tracing for debt collection firms

Estimates report that approximately 3,000 people go missing in the United States every day. These disappearances may happen for many different reasons - crime, mental illness, overwhelming life circumstances and debt. When it comes to the latter, professionals in the industry need to be trained in the proper professional, ethical and legal means of locating and communication with debtors. Among the tools available to asset recovery professionals, skip tracing can be an effective means of locating individuals with lapsed addresses and digital contacts.

 Skip tracing is a multifaceted means of locating missing persons. Usually, firms operate on three budgetary levels. The first involves public records and public information. There is usually a limit to the types of searches that can be conducted, and some firms offer a flat fee. The second level is often set on a budget, and the means are extended. A third level is the most exhaustive, and is usually set without any budget, i.e.. the organization will extend its efforts to find the individual by every means available. This is usually reserved for large corporations looking to recover investments if, for instance a business owner has disappeared and all merchandise is unaccounted for. Some firms may also be able to employ alternative credit data which may turn up individuals who have eschewed traditional means of lending.