Debt collectors are a smart group of people. They know if they want to find you so they can secure from you, they are going to need to get creative.
You see, the average debtor is a fairly mobile person. They open an account, and when they move they never send a new address to their creditor. So, the creditor has an old address, phone number, and other information.
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Trust me, this doesn't even slow a accumulator down! They will be hot on the trail of a debtor just as soon as they buy the debt. And they have a bunch of tools at their disposal. Unlike a few years ago when the accumulator only had data from the primary creditor and perhaps a credit report, they now have a huge estimate of data at their fingertips straight through the contemporary marvel, the Internet.
While a variety branch has many ways to track you down, here are a few that work admittedly well for them:
1) Public records - It's true, they can see what you do. If you buy a house, or file taxes, or open a business, they will know of it quickly. A typical collections branch will do a monthly sweep of all accounts straight through a computer process, and will see what data is ready during that sweep. If, as an example, you buy a new house, they will see that and have your new address. Bingo, they got you! Interestingly, even 1099 data for a company is online, so that can be checked to see if you own a business. There are many other pieces of data they can check, but this is a great starting point for them.
2) Lexis / Nexis - Lexis, and other firms, furnish data about pretty much every person to you if you can pay for it. They have current and former addresses, phones, job information, house information, and probably even your blood type. A few years from now they will probably keep a piece of your Dna! Collectors pay less than .00 per month for unlimited service, and they do take benefit of the assistance whenever they can. A lot of data comes back in a very short estimate of time, and they can find you quickly.
3) Skip Tracing - This refers to hiring an face seller to find data about a debtor. A skip tracer will do all the leg work for you, and come back with a summary article telling you where a debtor is. If the first skip tracing firm is unsuccessful, they may use someone else to hunt again. This is extremely cost effective, and extremely automated.
4) Calling habitancy you know - This is vicious, but it admittedly works. Lexis, and other vendors, have a list that they call "nearby's". Let's say you had a house at 123 Elm. They know who lives in 122 Elm, 124 Elm, and other surrounding houses. They have the names and phone numbers for each of those homes. So, the accumulator will call, and try to get a forwarding address, or a new phone number, or any other data they can get. They will also call relatives, friends, and anyone else that is shown to be an connect of the debtor.
5)) TransUnion - A fairly new TransUnion assistance will allow you set a watch on a credit file, and if a new entry comes in, say from a new credit card company with whom the debtor has opened the account, TransUnion will determine the address for the list and send it to the collectors. This is a great way to track habitancy down, but may have some legal privacy flaws before everything works out.
This is just a few of the ways collectors can find you. They have a bunch of further tricks up their sleeves, and more than likely they Will find you. So, how do you hide? You can't, unless you can find a way to hide your personal data from every source on the Internet. Instead, you just have to be prepared for the worst, and make sure you can deal with the collectors if they finally do call.
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