I was wondering, are there any Skip-tracers/collection agents on this forum?
I have a lot of small accounts that are overdue. The local agencies seem ineffective
or just can't collect on small overdue balances on my accounts receivable.
When I take the time to do it myself, the people around me don't like what it does to me.
I don't like to be lied to, and most overdue clients usually have circumstances
beyond their control anyway.
I'm the first to understand financial problems, at most any I ever
have are because people will not pay small ballances they owe me. Many things
cause late payments, as I'm overdue a few medical bills myself. I wish I could pay
my bills with notes owed to me.
Small claims court just don't work. You can take all that time and paper work,
then all you win is a judgement. Then you spend more resources to collect on that.
Most of what I have are from $30 to $300 accounts. So there is no big comission
or incentive for an outside source. Any of the ones I have that are over 3
years old requires searching down a hard copy, that was then posted to a computer.
I have these small accounts totaling close to $150,000, over maybe the last 10 years.
Some of them have even died.
So what do ya do about something like this. Times are tough, I recently got one kid
outa college, one in college now, one starting next year. I have another that's
at home and don't know what he even wants to do. Soooooo things are tight,
with all other expenses going up and less money to go around.

I guess this is really just a rant, I called a few today, because I know they
have the ability to pay me. I had one Lady say "I'm going to come up there
Friday and settle this face to face, because I pay my bills." This is on an account
that has been kicked around for 4 years, with the people saying you have billed
it to the wrong one. I know this person persoanally. She is full of ****,
There is no mistake. So I'm trembeling in fear at this moment She may
beat me with her cane
To make this even more stoopid on my end. One of my employees accidentally
reopened this account and let them charge a hot shot delivery recently


/rant

 

I don't know what you do but get money up front. AT LEASt, 50%. If the accounts are still open and they pay on new orders but have out dated invoices, then raise prices on new orders. AND GET SOME MONEY UP-FRONT.

 

In all honesty, if someone welches on a $300.00 debt, your chances of recovering anything from them are slim to none anyways. Let's face it -- if they don't have that kind of money, they probably don't have a pot to pi$$ in anyways.

Sell the debt to a collection agency for cents on the dollar and use the money you get to take the wife out to dinner -- hopefully the debt will get sold and resold enough times that at least it makes their life miserable for a number of years.

I suspect your time would be better spent hustling after new business and chalking up the bad debts as a cost of business, because in all reality, that's what they are.

 

what kind of business are you in? if they don't pay, charge interest and take back what you did for them. you would think if people couldn't pay they wouldnt have work done. i would be to embarrased to say i can't afford to pay you right now so i will always keep myself out of that situation

 

You could ask Big "O" for a bailout

 

That's pretty much the nail on the head.
It's a service type business, nothing to repo.

 

It sounded pretty obvious to me, he's a used car salesman.

 

I, ahem, know a girl who is a collections agent. She calls people every day, and she doesn't like doing it unless she is in a really bitchy mood.
She called someone last week whose wife was atthe hospital just diagnosed with bone cancer, he had been diagnosed with lung cancer a week before, he had just lost his 14 acre farm and she needed 385 dollars. The least they can take is 50 a month or they have to sue, and she said that she cried with the guy on the phone when telling him that.

 

It's a tough biz, and it truely makes life with me unbearable for my family.


I would like to learn more about skip tracing though.
I know quite a bit, but the more knowledge the beter.

 

if i was a collections agent, i think id sure be depressed after talking to people like that all day

 

I had to stop in my younger days, as I said, when people look me in the eye
and lie to me. I always got kinda physical with them.
I'm calmer and centered now, but I hate a lier. I don't like that feeling. It kinda
eats me up inside

 

I did collections/repos for many years, and was VERY good at it. It all comes down to, you can only threaten so much, before you have to forget it and charge it off, or take legal/small claims action. I have had many that when confronted with legal action, paid it off, knowing that I was getting serious, and not playing around anymore. It is not a matter of trust, you can't trust them at all. They know how to play the game, and until they file bankruptcy, you can either play the game with them, or WIN. I chose to win more often than not. It is a job, nothing else, and one CAN NOT take anything they say personal...always follow up on what they say, and when they say.
Skip tacing is a whole different matter...that's why you get friends/relatives info when the credit is applied for. Hound them until you get some info where they are at, or they threaten legal action, then you have to quit. There is so many friggin laws protecting the dirtbags, and not enough to go the other way!!!

Good luck

 

Well said. It is a job, and nothing else. Be good at it or not.