What happens when a debtor is not willing to pay? Creditors and debt collection agencies will initially try to establish communication through whatever contact and address details are available. If the individual doesn’t respond or is unavailable, letters may be sent to the physical address, but it often happens that the person doesn’t reside at that address anymore. Skip tracing tries to find such people, so as to recover debts or get a response. Skip tracing follows a transparent process, for which many skip tracers use specific tools and products.
MicroBilt is known for its entire suite of skip tracing tools, which have been designed to aid the process. You can refer to www.microbilt.com to know more. In this post, we are discussing the basics of skip tracing.
What is skip tracing?
Simply put, skip tracing refers to tactics that are used for locating debtors, who have “skipped”, or are not accessible anymore. Sometimes people do forget to make payments on time, and if they have the intention to pay, they can be contacted. However, sometimes, debt collection doesn’t go as smoothly as expected, and that’s exactly where skip tracing comes in handy. In case of skip tracing, the existing information is first considered, following which skip tracers will use varied available public resources to track down an individual. Think of this more like a bounty hunting process, except that skip tracing is more common. For the unversed, skip tracing is legal in the US and can be used by lenders & creditors, as needed.
MicroBilt’s suite explained
MicroBilt has designed a set of skip tracing tools, which can be incredibly useful for clients. Super Phone is one of the better products that is comprehensive and allows to find all relevant contact details and addresses. They also have two other similar products called People Search and Enhanced People Search. Both are meant to be used to find a person through various resources, and beyond what is available from credit bureaus, financial applications, and telecom carriers, MicroBilt also has its own proprietary data. MicroBilt also offers an advanced tool for skip tracing called Trace Detail. In case a person is not found through other skip tracing techniques and tactics, Trace Detail can find details of their associates, partners, and roommates, so that the person’s details can be retrieved from other sources.
Taking the leap ahead
Skip tracing is critical for debt collection agencies, creditors, process servers, and other clients, and with effective tools from MicroBilt, the whole process becomes much easier. We found that the entire suite offered by the company is complete in its own ways, and more importantly, they have simplified reports, so the information generated can be used directly.
Final word
MicroBilt has another set of identity-verification tools that can be an added advantage. You can refer to their website to find more details, and you can also check sample reports, to know how their skip tracing tools work. Skip tracing doesn’t have to be confusing or time-consuming, thanks to MicroBilt.
