Debtor Tracing
Debtor tracing has increased in the last few years. As the volume of personal debt increases, so does the number of individuals evading their creditors. It is estimated that over 70% of instructions to collect debt will require a trace. Last year, collection agencies and trace agencies conducted more than 9 million trace investigations.
Ways to trace someone
Companies tracing someone use two types of information:
- Publicly available (e.g. opt-in electoral roll search)
- Licensed information (e.g. from a Credit Reference Agency)
Our debtor tracing software uses publicly available information. It can be difficult to trace someone using an electoral roll search alone. Using a combination of phone number trace and an electoral roll search can improve the results.
Legal obligations and best practice
Companies involved in the collection of debt and tracing of individuals are required to join the Credit Services Association (CSA). Members must adhere to its code of practice. This includes taking measures to ensure they have traced the correct person.
Information used to trace debtors must meet data protection laws and have permission to be used for debtor tracing.
Data Discoveries has a range of tools and solutions to help you in debtor tracing.
Visit our product pages or enquire now to find out more.
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