Collections & Credit Risk is looking for feedback about the role technology is playing in skip tracing. Is there a push toward automation? Is the turbulent economy a factor in changing the skip-tracing process?

I would like to respond to the questions listed below.

There is without doubt a push toward automation. Perhaps it is to save money, however I do not believe that it is all that great. The automation and the databases are great tools, but if someone is not using those tools properly, then they may as well be throwing out their money.

People need to review the information that they are receiving from the databases and VERIFY the information. Whether it is job information, phone numbers, incarceration info, it must all be verified.

This is why I am such a proponent of proper skiptrace training. If people are not properly trained on interpreting the data that they are receiving then again they have thrown out their money.

If people are better trained, then more skips will be located, more contacts are established and more money is recovered. This will also reduce the number of lawsuits being filed. More money coming in makes the skiptracers happy, the collectors happy and the clients happier.

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3 thoughts on “Collections & Credit Risk is looking for feedback about the role technology is playing in skip tracing. Is there a push toward automation? Is the turbulent economy a factor in changing the skip-tracing process?

  1. Good advice. People seem to rely more and more on the online databases for their skip tracing information and don’t verify or do “manual” skip tracing anymore, like going to the courthouse to pull records. It really is imperative to make sure you have the correct information.

  2. Databases should be the last resort to your skip. But I do recommend running 1 report on a reliable database. From that report verify the most recent and go from there. Lenders shouldn’t let the asset go until all references on the application are verified; (72hr window) Once the down has been applied and all info is good; release the asset; but if they don’t return the money to the customer. I have worked so many cases; the application is completely falsified – even the ss#!! This is when my skills go to work; because I skip trace RAW. My skip skills have been acquired through time and experience. I recommend making your cold calls, the drive-around and be the friendly voice who got the wrong # … Information you have been waiting for is just a phone call away. One more thing…. When you know your info is correct….” intuition and timing” are your only charms to find your subject. Good luck!

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