1 / 28

Catch me if you can! Skip Tracing Strategies Using 21 st Century Tools

Catch me if you can! Skip Tracing Strategies Using 21 st Century Tools. John G. Schwarm, D.B.A. General Revenue Corporation November 7, 2011. Session Description.

trory
Download Presentation

Catch me if you can! Skip Tracing Strategies Using 21 st Century Tools

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Catch me if you can! Skip Tracing Strategies Using 21st Century Tools John G. Schwarm, D.B.A. General Revenue Corporation November 7, 2011

  2. Session Description • We live in a world where virtually all our students are in constant connection with their respective social networks. However, they are largely disconnected from their financial life and even harder to reach when you are looking for a payment. In this session, you will listen to a discussion of new strategies, tips, and tricks from the professionals on how they track down these missing persons.

  3. Session Agenda • Who, what, & why of skips • Communication & 21st Century tools • Collection strategies for high performance • Social networks & skip trace web sites • Credit bureaus & social security numbers • Government regulations & rules of engagement. • Questions

  4. Skips: definition and goals. • Account holders that do not have current contact information with the creditor. • Strategic search involving numerous leads • Goal: Locating and validating • Contacting 1st and 2nd degree relatives • Validate residence and place of employment • Obtain personal information to enable collection • Once contacted, good chance of recovery

  5. Why do people skip? • Procrastination • Fear / Panic • Path of least resistance • Confusion • Don’t know who to talk to on campus • Problem too deep to find a way out • Learned behavior from parents / peers

  6. How can you disappear? • Don’t use credit – cash only • Don’t own property – no bank accounts • Couch surf / roommate responsible • Spouse responsible for everything • Parents hiding adult children • Straw purchase (Parents buying car for child) • Living in shelter / foreign assignment

  7. It’s All Greek To Me… Ethos: An appeal based on the perceived character of the sender of the message. Logos: An appeal based on the logic of the argument Pathos: An appeal based on the use of emotions

  8. Competencies of a skip tracer • Intelligence • Common Sense • Patience • Self-control • Friendly Personality • Persistence • Detail-oriented • Assertiveness • Persuasiveness • Helpfulness • Creativity • Competitiveness • Goal Oriented

  9. What are 21st Century Tools? 21st Century Tools: • Computer/ data bases / internet searches • E-mail / next day air • Telephone / Mobile • Social Networking Sites • Job verification letters • Credit bureau reports

  10. Typical Account Scrub – Placement process

  11. High Performance Collection Agency Methodology

  12. Skip Trace Waterfall Tools

  13. Social Networks & Skip Tracing • Use social network to find subject, do not use this medium to communicate or collect. • Business officers rarely use any social media to locate debtors • Use alternative products such as Trans Union, Equifax, and Experian • Address, employment, and Social Security Number searches through credit bureaus

  14. Top 15 Popular Social Network Web Sites • Facebook • Twitter • Linked In • My Space • Ning • The Google • Tagged • Orkut • Hi 5 10. My Yearbook 11. Meet Up 12. Badoo 13. BeBo 14. My Life 15. Friendster

  15. Social Networking Venn Diagram

  16. Free Skip Trace Websites • blackbookonline.info • zabasearch.com • searchbug.com • Timeanddate.com • Docusearch.com • Argali.com • KnowX.com • switchboard.com • facebook.com • pipl.com • spokeo.com • yellowpages.com • Switchboard.com

  17. Free Skip Trace Web sites (Continued) • google.com • whitepages.com • people.yahoo.com • pipl.com • skipease.com • addresses.com • whowhere.com • anywho.com • 411.com • blackbookonline.info • yellowbook.com • manta.com • hoovers.com

  18. Fee-Based Skiptrace Services • Accurint LexisNexis • Acxiom Insight Collect • Choice Point • Experian • Fletch Data • Interactive Data • Master Files • RealEDA • SkipTraceInfo • U.S. TRACERS • Veri Facts

  19. More Research Tips • Charged Internet Search: • If other attempts have failed to yield information, use a fee-based search engine if one is available. • Tax Assessor: • Determine if the borrower owns property. Consider calling the landlord for the borrower and leave a message if necessary

  20. Credit Bureaus • Credit Bureau Report: • If other attempts have failed, order a CBR for the borrower. The CBR does not benefit a collector unless the information is used. • Credit Bureaus: • EQUIFAX www.equifax.com • TRANSUNIONwww.transunion.com • EXPERIAN www.experian.com

  21. What does your SSN reveal? • Social Security "Area Code" Number ChartThe first three digits of a Social Security Number correspond to locations as follows: • SSN State or Territory SSN State or Territory • 001-003 New Hampshire 449-467, 627-645 Texas • 004-007 Maine 468-477 Minnesota • 008-009 Vermont 478-485 Iowa • 010-034 Massachusetts 486-500 Missouri • 035-039 Rhode Island 501-502 North Dakota • 040-049 Connecticut 503-504 South Dakota • 050-134 New York 505-508 Nebraska • 135-158 New Jersey 509-515 Kansas • 159-211 Pennsylvania 516-517 Montana • 212-220 Maryland 518-519 Idaho • 221-222 Delaware 520 Wyoming • 223-231, 691-699 Virginia 521-524, 650-653 Colorado

  22. What does your SSN reveal? • SSN State or Territory SSN State or Territory • 232-236 West Virginia 525, 585, 648-649 New Mexico • 232, 237-246, 681-690 North Carolina 526-527, 600-601, 764-765 Arizona • 247-251, 654-658 South Carolina 528-529, 646-647 Utah • 252-260, 667-675 Georgia 530, 680 Nevada • 261-267, 589-595,766-772 Florida 531-539 Washington • 268-302 Ohio 540-544 Oregon • 303-317 Indiana 545-573, 602-626 California • 318-361 Illinois 574 Alaska • 362-386 Michigan 575-576, 750-751 Hawaii • 387-399 Wisconsin 577-579 District of Columbia • 400-407 Kentucky 580 Virgin Islands • 408-415, 756-763 Tennessee 580-584, 596-599 Puerto Rico • 416-424 Alabama 586 Guam 425-428, 587-588,752-755 Mississippi 586 American Samoa • 429-432, 676-679 Arkansas 586 Philippine Islands • 433-439, 659-665 Louisiana 700-728 Railroad Board* • 440-448 Oklahoma 729-733 Enumeration at Entry

  23. “I’m from the government and I am here to help” • Fair Debt Collection Practices Act(FDCPA), 15 U.S.C. §§ 1692-1692p. • Telephone Consumer Protetion Act (TCPA) 47 U.S.C. § 227 • Consumer Protection Bureau (Dodd / Frank Wall Street Reform and Protection Act) • Fair Credit Reporting Act (FCRA)

  24. Just call me…Joe… • Collection agencies can call anyone in an attempt to secure the debtors location. However they must: • Follow FDCPA • Disclose who they are if asked • Just confirming location information on debtor • Never disclose the information to a third party.

  25. Can I call you during dinner? Generally, the agencies can not call you more than once unless that person agrees to allow additional contact OR the debt collector believes the response was erroneous or incomplete and that the person now has the correct information. Don’t contact the consumer / debtor if they are represented by an attorney known to the debt collector. The collector may not make any additional contacts.

  26. Call me anytime… • If I have your authorization in writing • If we have done business together • If there is a legitimate business need • To process credit transactions • To discuss any issues with new purchaser or servicer of existing accounts

  27. Questions John G. Schwarm, M.B.A. / D.B.A. General Revenue Corporation Office: (847) 829-4453 Mobile: (630) 338-3459 John.Schwarm@GeneralRevenue.com

More Related