Question:
Should I use skip tracing services to find debtors?
Performing Skip Tracing Services
Debt collection agencies can be invaluable in cases of missing debtors. Let's say you have not idea where to locate a debtor, his or her phone number has been disconnected, and the person's mail is not being forwarded. If you have the debtor's driver's license number (it should be on the credit application), you may be able to do some skip tracing and find the person's new location. However, debtors who skip town to avoid their debts (and they usually have several) are usually smart enough to know how to avoid their creditors. There are courses and books on the "how to's" of skip tracing, and if you can afford to invest the time it takes to do the skip tracing, then by all means to try locate the person yourself and collect your money using your credit collection services. But skip tracing is extremely time consuming and once the debtor is found, he/she is usually in another state. You must familiarize yourself with the laws of that state, and depending on the size of your business, the odds of collecting your money are slim. Even if you successfully sue the consumer in small claims court, the small claims court has no power to enforce payment and you are still left with the task of trying to collect on your judgment. It is better to invest your time in collecting money from people who are within your reach.
Collection Agency Frequently Asked Questions
What will I need to submit a judgement collection?
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Where does the government stand on wage garnishment laws?
Should I use skip tracing services to find debtors?
What kind of contingency collection services are offered?
When learning how to collect a debt, what are some ways to improve debt collections?
When collecting debt, what are some common causes a debtor or business owner can sue a creditor for?
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What items may not be mentioned in consumer credit reports?
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What is the Debt Collection Improvement Act (DCIA)?
What is the Debt Collection Improvement Act of 1996?
What is the Fair Credit Reporting Act?
Where can I find the entire federal Fair Credit Reporting Act official document?
Recent Collection Agency Questions
Q.
In Ohio, is it necessary for a collection agency to be registered or licensed and if so with whom?
thanks
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I am currently cleaning up my credit. I live in the state of Kentucky and would like to know how long can creditors report negative information (in years). Thank You
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what if someone tells you that their credit card bill is out of statute? Example the cards last payment was 7/98, and the account is ready for litigation. Does this fall under the open contract for 5year out of statute, and do we have to stop collections? If judgmnet was tried to be obtained would this hold up in court?
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Hi,
I am looking for a Collection Agency. Can you recommend any? or maybe you can advise which one is the most efficient.
Thanks,
Ela
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how long can a debt collector try to collect a debt? i bought a car over 9 years ago, they sold it at auctin and only got 300 for the car and it had a value of over 10k now they are coming after me again w/ judgments etc.... what can i do?
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Does Missouri allow wage garnishments on open account/credit card debts?
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Can a lien be placed on my home if a judgment is awarded against me for an unpaid credit card debt?
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I recently paid off a debt that had been in collections. The collections office sent me a letter stating it has been paid in full however it is not their responsibility to report it to credit agencies. I don`t want my credit reports to show something is in collections when it ISN`T. Who and how do I contact Experian, Equifax, and Transunion (and any other credit bureaus necessary) to report payment in full? I would appreciate any assistance/advice you have for me.
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I am in the collections field & my question is, are there any laws that prohibit individuals in our field from using company skip sites for their own personal gain? My problem is I have an ex roomate who is currently using her companies Westlaw site to skip me & she is bragging about it. She has obtained my social and Texas driver`s lisence #. Thanks.
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CAN A MEDICAL OR DENTAL BILL HAVE INTEREST OR A COLLECTION FEE FOR GOING TO A COLLECTION AGENCY?
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what licensing do i need to operate from the state of new york collection business.
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I believe I have a collection against me but I can`t find who to contact. Is there a website that will show me the collections against me?
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can i call my tenant that skipped out on the lease,to collect the money owed during the hours of 8 am and 9 pm?and if so is it considered harassment?and the security deposit has been exhausted due to maliscious damages done to the property?
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A collection agency has threatned to take legal action such as garnish wages. Can i stiop this by sendung a reasonable amount payment. I was not trying to avoid paying the bill . We were waitining on insurance co. to reprocess the claims.
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is it right for a creditor to call 3-4 times aday. I am paying this debt my mother has and cannot pay the amount of the bill due, my mom now has alzhemier`s and cannot help me. How many times aday are they too call. Is that a form of harrassment?
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What is the statute to collect on a NSF Check
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Can I turn someone over to a collection agency if they have a dilinquent bill, but are making payments on it? The payments are not the amount we asked for in our payment plan, but we are cashing their checks.
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I am the office manager for a small medical office. We are trying to manage our collections in-house. Is there a way to submit past due accounts to a credit bureau without going through a collection agency?
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Q.
My wife and I just received a judgement on 8 April 2005 against an individual that is the sole owner of a tinting company for damages done to her vehicle during services performed for a little over $400.
We are quite sure this individual isn`t going to pay us anything, or attempt to delay payment for as long as possible. We just don`t want to deal with this man. After we attempt making payment plans with him and he fails to pay, what are our options for a collection agency? How long must we wait until he fails to pay (Or do we even have to wait at all?) before we submit this to an agency? What happens when we submit this to an agency? Does the agency "buy" our judgemment from us for a percentage of the judgement, then we never have to worry about it again, because it`s now the collection agencies problem? Thank you for any advice you may have.
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Is there a certain stipulation on when a settlement offer is due, if our clients dont give us a deadline or have a problem of when we collect the settlement. Our usual offers are 60 days
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Can I send notices and letters to debts for a friend to try to collect money that is owed to him without being licensed to do collections? I have a County Business License for Skip tracing. or do you recommend that I skip and use someone like an online collection agency like Olddebts.com? I have a home based business and will only have small (very small ) Collections most of my work is Skiptracing what do you reccomend? Thank you - A
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what is the statute of limitation on a failure to appear warrant for a bad check?
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Can a collection agency call my house regarding a debt my mother has? I would like information on how to stop them from harrassing me!
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What is the maximum allowable contactual interest rate for unpaid consulting services in the State of Illinois?
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| Barbara Gibson |
