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Facebook makes debt collection sweet for creditors
Sometimes, the contacts may be operational but the debtor refuses to reveal his whereabouts. In such cases, tracing the debtor for litigation or even knowing his assets becomes a nightmare. Photo/REUTERS
Posted Monday, August 2 2010 at 00:00
This will then be followed by regular chats to build rapport with aim of eventually gaining contacts and scheduling a meeting.
As a strategy for smooth rapport building, collection officers will first identify your area of interest based on the comments on your site such as dating, business deals, night outs, and car sales among others.
Every chat will then be anchored on this to draw the debtor.
Some collectors will even flirt to attract you for a meeting and even suggest dating as is the case of Doreen and James.
Flirting and dating has proved workable in asset tracing.
Such affairs will start on a high note and die gradually after the mission for skip tracing has been accomplished.
In the worst case scenario, where the assumed debtor is not on any social sites, the collection officer would hunt for the profile of the debt guarantor with the intention of inquiring on the whereabouts of the hunted debtor.
If successful, then the agency concludes the skip trace and hands over a report to the creditor.
Surprisingly, the rate of success of collection agencies in tracing debtors has risen with increased recovery of bad loans that had earlier been written off by creditors.
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