Are you struggling to collect debts from your clients? Have debtors seemed to disappear overnight? If your debt collections have stalled, you need a skip tracing service. 

Learn what skip tracing is and how it can help your business. 

What Is Skip Tracing?

Skip tracing is finding a person’s whereabouts through various investigative methods. It evolved from the term “skipping town” to better encompass the more data-oriented aspect of tracking a person down. 

The reason skip tracing is needed in debt collection is that the person is making themselves difficult to find. They may have moved without updating their address, be using aliases instead of their real name, or not be responding to contact attempts.

Why Businesses Use Skip Tracing

Businesses use skip tracing for many reasons, such as:

  • Collecting debts
    • People who haven’t paid rent
    • Businesses that owe you money
    • Individual clients who owe money
    • Landlords who accept money from a new tenant with no property to give
    • Contractors who didn’t finish the work they were paid to do
    • Employees who stole money
  • Finding property owners to make deals with
  • Investigating potential fraud
  • Performing background checks
  • Serving legal papers
  • Recovering assets
  • Locating former employees

All of the reasons above can disrupt business operations if the person cannot be found in a reasonable amount of time. This could lead to missed deals, legal challenges, and financial losses. 

How Skip Tracing Works

Skip tracing is a highly detailed process that can be broken down into three understandable steps.

1. Gather Information about the Wanted Person

A skip tracing investigator gathers information from various sources, usually starting with what the client knows. This usually includes basic information such as:

  • The wanted person’s full name and known aliases
  • Last known address
  • Phone number
  • Email

The investigator will then use various sources such as public records, social media, and background checks, along with advanced skip tracing techniques, to find more information about the wanted person, including:

  • Date of birth
  • Employment history
  • Social Security number
  • Any criminal records
  • Friends and family relations
  • Property ownership
  • Vehicle information
  • Credit history
  • Places that the person frequents
  • Driver’s license information
  • Voter registration

2. Organize Data to Find Valuable Leads

After collecting all that information, a skip tracing investigator goes through all of it to determine what is valuable in their search and what can be discarded. This is done through:

  • Determining the accuracy of the information
  • Cross-referencing information from multiple sources
  • Identifying any interesting patterns
  • Highlighting any inconsistencies
  • Creating a timeline of the person’s movement
  • Creating a social network of important people connected to the person of interest
  • Going to physical locations to verify information

3. Attempt to Contact the Wanted Person

Once the skip tracing investigator feels secure in their information, they will try to contact the person of interest. Typically, the investigator will use basic methods such as calling them or emailing them. 

If that doesn’t work, they will escalate to going to physical locations in hopes of finding the person of interest there.

And if that doesn’t work, the investigator will start contacting people in the subject’s life in hopes of either getting help from these relatives or learning where the person frequently hangs out. 

It’s important to note that the skip tracing investigator should not harass anyone involved. Breaking or trying to get around the law is not only illegal, but not the way a legitimate skip tracing professional should operate. 

The Benefits of Skip Tracing Service for Debt Recovery

There are many benefits to using a skip tracing service for your debt recovery. 

1. Locating Debtors

Skip tracing services will ensure that stalled debt collections move forward by locating challenging debtors. They’ll provide verified current information about the debtor, so you’ll stop wasting resources on false leads or reaching out to outdated numbers.

2. Improving Collection ROI

You’ll increase your debt collection ROI by reducing the number of missing debtors, increasing collection recovery rates, and decreasing the resources invested in locating debtors. 

3. Assisting with Any Legal Actions

If you need to take any legal actions against a debtor, skip tracing can help streamline the process by providing accurate information to all parties involved.

4. Allowing You to Focus on Business

Skip tracing investigators have the skills, experience, and tools to find people quickly—letting you focus on running your business. 

5. Keeping the Process Legal and Compliant

While skip tracing is legal, it must comply with various laws and regulations. A professional investigator knows and will follow these rules, so your business is protected from attempted repercussions from the debtor. 

When Your Business Might Need Skip Tracing

Your business needs to use skip tracing services if:

  • You have old debts that haven’t been paid
  • Calls and emails aren’t being answered
  • You have outdated debtor information
  • You can’t locate a debtor
  • Collection processes have stalled

How Ryan & Jacobs Helps Businesses Take the Next Step

When investing in a skip tracing service, you want to find someone who has the skills and tools to find your debtors efficiently. Ryan & Jacobs have all that and more as we specialize in ethical debt collection. 

We can also help you throughout the entire legal process, not just skip tracing. 

Contact us to learn more about our services.