How does Skip Tracing or an Asset Investigation Work?
KBAG’s approach to skip tracing is a deductive step process that begins immediately upon account placement and continues as long as an account is placed with us for collection. Once KBAG has received and loaded a client placement file onto our system, KBAG’s data processing personnel run several locator routines that match information brokerage service files against account names, addresses, and zip codes; unknown or incorrect information is flagged by the system and documented in the account file. Initial placements are also run against bankruptcy and death records and set aside to be processed separately by KBAG’s administrative personnel. accounts for which a valid address or telephone number exists receive letters or telephone calls as appropriate. If no valid address or telephone number is available, then KBAG’s recovery Agents and Skip Tracing Specialists initiate semi-automated and manual skip tracing attempts.
Skip Tracing or Asset investigation can be completed in a number of ways, all focusing on piecing together the puzzle of an individual or company’s financial puzzle. Asset investigations basically work by uncovering exactly what sorts of collectible assets someone has. Whether investigating a business or individual, an asset investigator will determine how likely you are to get money in a court case. An asset investigation can also tell you how secure someone’s assets are before you trust a company or individual with your business.
Types of Asset Investigation can Uncover
|Corporate Skip Tracing||Individual Skip Tracing|
Skip Tracing Financial Records
Skip Tracing for Financial searches can be performed by a collection agency on the creditor if your subject owns a property and if the property has a mortgage, the mortgage application can be obtained by serving an information subpoena on the bank. The response will yield all the evidence you are looking for and then some. You will get all of the bank account information including account numbers and insurance policies in different types and Classes. We have asset types and asset classes with subcategories in each that can discover hidden assets.
Skip Tracing can be done by a collection agency on the lender and on loan modification packages and refinances. These will supply bank account information and bank account numbers as well as other equity. Financial searches can be done by serving the landlord and figuring out how much of a deposit is held at what bank as well as how the rent is paid. This evidence can be had with a subpoena.
Skip Tracing can be done on divorce records. These can be a gold mine of information when personal net worth statements and schedules of assets are discovered. In most cases, divorce records are public information. This varies on a state-by-state basis. In some states you must be a party to the action to get access. Financial searches can be conducted on tax liens. If a property is owned and taxes are delinquent, many counties and cities turn them over for cash. Since they are not receiving the revenue from the tax roll and they generally need the funds to pay for costs like municipal employees salaries and benefits, they will sell off the asset to the highest bidder in the form of a tax lien. Those tax liens contain your freedom and success.
Skip Tracing can be done on civil records to uncover information such as current or past financial restitution cases, personal injury, and civil disputes. These figures are an extremely positive indicator of the quality and range of the asset quality of the hard and soft assets.
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