Tip of the Month
Keep Your Eye on the
Minor Details
A misspelled name... an incomplete address... only a cell
phone number... These may seem like minor details, but when
you are involved in a contract dispute, omission of even the
smallest fact can cause you major headaches.
During formal collection procedures, it’s all about
accurate information. The process can involve locating people,
sending collection letters, negotiating by telephone, freezing
bank accounts, attaining court judgments during litigation...
all of which may be needlessly delayed without accurate
information. Debt collection can be further complicated due to
a person’s death. Appropriate notices need to be filed with
the estate attorneys and the probate court to claim an
outstanding debt.
To protect yourself, be sure to obtain and include the
following information in your homeowner contracts:
- Correct spelling of names (both husband and wife)
- Home and business telephone numbers – not just a cell
phone
- Correct mailing address – not a PO Box
Keeping an eye on the details will help you solve one of
the most common reasons for failed attempts to collect; you
cannot find the person who owes you money. Accurate
information is critical for skip tracing, asset location, and
credit checks to quickly locate your delinquent
customers.
