The Types of Instances that Require Skip Tracing

New Jersey-based collection agency Kramer & Associates provides leading debt recovery services for its many clients. From its headquarters in Hackensack, NJ, the firm helps businesses and individuals obtain the payments they are owed. Thanks to its talented personnel and skip-tracing technology, Kramer and Associates have a track record of high recovery rates.

The ability to locate individuals who have changed their contact information is an important ability for a collections agency. Therefore, skip-tracing tools that help locate these individuals is of particular importance to the agency’s operations. When tracking down these individuals, there are a number of things that should be kept in mind.

First of all, each situation is unique. Some individuals have not skipped on payment on purpose. They may have relocated for a job or because of a family situation. They may not even be aware of the outstanding debt in their name. Therefore, it is important to approach these individuals in a way that professionally alerts them of the situation and is conducive to reaching an agreement. Other individuals may be intentionally avoiding collections efforts. Some of these individuals are experiencing financial difficulties and hide because they don’t have the ability to pay. Offering a payment plan can be of help when resolving these situations. Finally, some individuals cannot be located due to fraud. These situations are the most difficult to resolve and often require assistance from additional parties.

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The Importance of Skip Tracing in Collections

Kramer & Associates, a New Jersey collection agency, works with a variety of clients in order to meet their debt recovery needs. Through its office in Hackensack, NJ, Kramer and Associates provides the expertise of skilled agents and managers, top debt recovery technology, and a team of in-house legal experts to help further its clients’ cases.

Many businesses and organizations find that they receive better debt recovery results when utilizing the services of an agency that has proven expertise in collections. The professionals at these agencies are often well versed in the best ways to bring about the desired results. However, not all agencies are equal in quality. For example, they may have different records of success in making contact with the owners of delinquent accounts, and some agencies have greater resources at their disposal.

Many times, it is difficult to contact individuals and businesses with outstanding debt because of address changes or intentional attempts to avoid collectors. Agencies that have good skip tracing technology are able to utilize various databases that aid in locating and contacting the owners of these delinquent accounts. If calls have been consistently ignored, utilizing an agency with skip tracing can be a great way to finally make contact and obtain funds that are overdue.

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Tips for Managing Debt

Located in Hackensack, NJ, Kramer & Associates serves as a third-party to businesses that require a liaison between themselves and their clients. Kramer and Associates hires in-house attorneys who advise collectors and are qualified to write letters and place phone calls when necessary. The Kramer & Associates collection agency excels by treating each business’ clients like its own.

One credit card purchase without the funds to support it is all it takes for a high credit rating to plummet and to start receiving calls from bill collectors. The truth is that credit card companies and other organizations that expect punctual payments want to help, not hunt.

One step for getting debt under control is to ask such organizations for help. When people fall behind, they should call their credit card company, for example, and explain the situation. Ask for a lower interest rate. Creditors are more willing to cooperate with account holders who stay in touch.

Alternatively, transfer balances to a card with a lower interest rate. Keep in mind that many cards require account holders to pay off balance transfers within a certain timeframe, usually 12 to 18 months, or be subject to a higher interest rate. If an individual anticipates an inability to pay off the balance in time, he or she should transfer to a card with a low fixed rate.

Consolidation is another solution. Many bills, including student loans and credit cards, can be rolled into a single, more manageable payment that often comes out to less per month than a smattering of multiple payments.

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