Debt collection is not always an easy and smooth task. Collectors, agencies, and creditors, often have to deal with individuals and businesses that do not have the intention to pay. The term ‘skip tracing’ refers to an individual, who has ‘skipped’ or cannot be found in town. When someone fails to pay an installment on time, the first step is to remind them of their payment. However, if the debtor doesn’t respond to calls and emails, or letters cannot be delivered to their given address because they don’t stay there anymore, skip tracing is done to track them down. A series of standard protocols or steps are followed in skip tracing, and many debt collection agencies creditors prefer to hire experts for the job, called skip tracers.
Lenders, creditors, and skip tracers often rely on skip tracing software for collections and to ease the process. In this post, we are discussing skip tracing tools and how companies like MicroBilt are shaping the industry.
The process explained
In case of skip tracing, the first task is to verify the information at hand. For this, the debt collection agency or skip tracer to try and contact the debtor through standard means, like calls, letters, and emails. If the person doesn’t respond, the next step is to find as much information as possible from different databases and resources. This includes all kinds of resources, like public records, job & loan applications, telephone records, and information from credit bureaus. There are also companies that rely on proprietary resources to find details, which also include aliases. If nothing works out in tracking a person, the details of their friends, neighbors, and family members, can be tracked.
MicroBilt’s suite of skip tracing tools
Skip tracing tools from companies like MicroBilt are known for being accurate and informational. MicroBilt has developed a suite that includes all kinds of products. Their Super Phone is one of the comprehensive products, which can come in handy to find basic contact details, while Enhanced People Search can be used to find critical identity information. The third one is called People Search, which can be used in the early stages of MicroBilt. For helping further in tracing contacts, MicroBilt has come up with Trace Detail can be handy.
More things to know
MicroBilt is known for its products and skip tracing tools, and the company has an awesome track record for client support. They also offer customized assistance for specific needs, so if your business to find debtors on a regular basis, or wants to find more details beyond what features in publicly-available databases, MicroBilt can be of great help. The company also has a comprehensive list of ID verification tools, as well. You can refer to their website to find samples of reports of how their different skip tracing tools work. The company will be also more than happy to explain their tools further.
Skip tracing tools are relevant and necessary for many parties, including professional skip tracers. Check online now for more details.
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