If you want to protect your cashflow and get those stubborn debts paid to your business, it’s vital that you track absconded debtors.
You don’t simply have to give up on any debts where the person or business involved ‘disappears’.
Experienced agents use their skills and training to track absconded debtors and start the process of getting your business what it is owed.
What’s the process when we track absconded debtors?
There are four key steps to ensuring your business gets paid. We…
1. Monitor electronic databases for signs of activity – Everyone has an electronic footprint these days. A debtor may ‘disappear’ for a few weeks or months, but it is highly likely that they will resurface and that details about them will be included on various household and business databases that our expert trackers use. Monitoring those databases consistently is the first step to getting your debt paid.
2. Trace the whereabouts of the debtor – From that initial electronic information, our experienced agents will piece together a picture of the debtor’s life. They will find out where they live and work, ensuring at each step that the information they gather is accurate and up-to-date.
3. Use our doorstep connection services to re-establish contact – This is a key part of the process. Re-establishing contact helps us get a picture of the debtor’s life and finances and, of course, their ability to pay their debt to you. It could mean getting an agreement to a payment schedule, payment in full, or information for you to take your case to court and obtain a payment order.
4. Enforce County Court and High Court orders and judgments – If an order is made in court, we’re able to enforce it and arrange payment of the debt to you, or act as sheriffs, officers of the court, and seize goods to the value of the debt.
What kind of data helps to trace those debtors?
If you’re looking to track absconded debtors, here is the sort of data which will prove hugely useful…
Date of birth – Probably THE most important piece of information to track down your debtor and ensure it’s the right person. It can be used to track someone through information such as marriage records or Companies House filings.
Trading names – An important way to find out links between companies or businesses which are not registered with Companies House.
Phone numbers –Landline numbers can be very helpful as tracers can reverse lookup information about them, plus agents can find out whether a mobile phone number is registered on a network in the UK, a key indicator of whether someone is still in this country.
The names of associates – They may have information about the whereabouts of the debtor.