Corporate Debtor Tracing
The world of corporate tracing has changed vastly over the last ten years, with more and more businesses tracing their own debtors and no longer using external trace companies. One of the major reasons for this is, that trace companies were using underhand tactics to maximise their success rates at the expense of the quality of the debtor traces they were supplying back to their clients. This led to an increase in mis-traces and tarnished the reputation for all trace companies, leaving many businesses and councils not using trace companies at all. We understand the importance of debtor tracing to our corporate clients but how do we go about changing perceptions?
We do things differently but how?
Well for one, all our debtor tracing work is done legally and ethically, the most important aspect of what we do is to trace the correct person to the correct address. This means, the client can be sure there is no mistake, regardless of the tactics used by debtors to evade payment. It is embarrassing for clients when the wrong person has been traced, so we always have a link back to the debtors address from the trace address. Just last week in the paper, there was a case where the trace company had traced the wrong person and the client had to back down at the eleventh hour, it was the client’s name in the paper not the trace companies, this is not fair and is something we feel can be easily avoided.
We want to change this perception of unscrupulous trace companies
We want to find the people who owe you money but if we can’t we won’t make it up, we’ll just report back to you that we can’t find them. Is this not better than professing a success rate of 90+% but finding 10% are mis-traced? We think it is – If we say we have found your debtor, we have.
In house vs. External
Most companies who trace in house have access to some databases and staff use these to trace people to a new address. We understand that companies are having some success doing this and we don’t want to change that, what we would like to do, is take the cases that you’re in house team can’t find. We have a vast array of systems and can cross reference these systems to locate your debtors. We also find old friends, lost relatives, ex tenants and land owners, because of this diversification we have experience of locating many different people, in many different ways and it is this experience that sets us apart from the rest. Once one of our people location specialists has located a debtor, they must show how the person has been located to a team leader who must be able to see a clear trail from the last known address to the new address. Once confirmed, the case will only then be reported back to client as a positive result, just another measure we take.
A trial basis?
We have spoken to several councils and Credit management companies about our vision and are starting to build up a small portfolio of clients, but we want more! We are happy for you to trial us, if you need employment details we have experience in this area too. We don’t think it’s a good idea to use a debt collection agency to find people, why not give the agency your outstanding customer arrears when they have been traced to a new address by us and let them do what they are good at.
We like to say that we don’t want your money unless we have done what you have asked us to and we stand by this. Call us today about our corporate debt trace options and join the People Location Revolution 0113 2825900