As a collection agency, it’s important that you’re able to scrub bankruptcy records. This is especially true if you’re a third-party agency, but even in-house collection agencies need to pay constant attention to bankruptcy records. For both legal and corporate reasons, it’s important that you always consider bankruptcy records. Here’s how a public records search engine could help your agency do that more easily.
Avoiding a Waste of Time and Energy
Efficiency is an extremely important part of running a collections agency. You don’t want to spend any more time than you need to with each account. Skip tracing can take some time, as can running each account through a search engine on your own. Don’t do every account on its own. Instead, you need a public records search engine that allows you to utilize batch processing so you can get information about all your accounts at once.
- When you’re running a collections agency, it’s important to maximize efficiency, so you can go through more records every day.
- An agency that’s able to process more records every day and weed out the uncollectible accounts can maximize their profits.
- Instead of running each account through bankruptcy records scrubbing on your own time, invest in a public records search engine with batch processing.
Separating Different Types of Bankruptcy
There are different types of bankruptcy an individual may file for. Although there are only two very common types of bankruptcy, that doesn’t mean they’re the only types you may run into. Plus, different bankruptcy filings may have different conclusions regarding whether or not someone’s still liable for their debts. Getting all the financial information available is the best way for you to make sure you’re collecting on debts properly.
- The terms of a bankruptcy aren’t the same across every type of bankruptcy and every individual bankruptcy filing.
- It’s important that you look deeper into a bankruptcy filing than just the fact that a person has a bankruptcy filing.
- When you’re able to dig deeper into records, you’ll get additional and helpful information about the bankruptcy.
Linking Records for Easier Scrubbing
When you’re scrubbing records, it’s extremely important that you’re scrubbing them for the right person. It’s unfortunately common for people to mix up two records because they belong to people with the same names. However, it’s possible for your agency to avoid this frustrating problem. You just have to use a public records search engine that links records by additional points, rather than just linking records by name.
- Scrubbing records can be a difficult endeavor because there are many people in the United States with the same name.
- When you’re scrubbing records for any reason, including bankruptcy scrubbing, you need to know you’re accessing the right records.
- Instead of just matching records using someone’s name, you instead need to match those records with additional points.
Scrubbing Records Continuously
Bankruptcy scrubbing isn’t something you can just do once and then assume you’re fine. In fact, you need to routinely go back through your records and look for records you may not be able to collect on anymore. People file for bankruptcy all the time, and it’s possible for someone to file between your company first receiving the records and when your company puts in a collection request. Constantly scrubbing records with a public records search engine is a good way to avoid this problem.
- It’s important that you always have up-to-date information about your records, including whether people have filed for bankruptcy.
- Because people can file for bankruptcy at any time, you need to go back through your records occasionally.
- A strong public records search engine can help you go through your records on a regular basis.
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Tracers Can Help Your Collection Agency Stay Up to Date
Making sure your collection agency stays up to date on bankruptcy records and other potential problems is massively important. In fact, it’s one of the things you should pay attention to the most as a collection agency. When you need up-to-date information about bankruptcy, debtors and anything else associated with collections, consider Tracers.
Tracers gives you the ability to get information about almost any adult in the United States, whether you’re accessing that information through the Tracers website or through its partners. With the Tracers Bankruptcy service, you can search through over 100 million records to understand more about someone’s financial background. You can even maximize your options with batch processing.This gives you the ability to save money and resources, making it easier for you to focus on collections efforts.