Don't be a Write Off: Why Debtor Tracing is No Laughing Matter
Introduction
Are you tired of chasing down debtors and coming up empty-handed?
Are you sick of writing off bad debt and watching your profits disappear?
If so, then it's time to get serious about debtor tracing.
Struggling with unpaid debts? Start recovering what's owed to you today.
Don’t write off!
For those unfamiliar with the term, debtor tracing is the process of locating individuals who owe you money but have disappeared or gone into hiding. It's a critical tool for any business that wants to recover unpaid debts and avoid write-offs.
Unfortunately, many businesses in the UK still don't take debtor tracing seriously. They assume that once a debtor has vanished, there's nothing they can do. They write off the debt and move on. But this approach is no laughing matter.
The truth is that writing off bad debt can have serious consequences for your business. It reduces your cash flow, eats into your profits, and can even put your business at risk.It's not something to be taken lightly.
That's why it's so important to use debtor tracing to locate debtors and recover the money you're owed.
There are a number of different techniques and tools available to help you do this, including:
Credit reference agencies: These agencies collect information about individuals' credit histories and can be used to locate debtors who have moved or changed their contact information via what is known as address links via recent activity data. But this can be expensive unless you have a lot of searches to complete each and every month!
Tracing agents: These are professional investigators who specialize in locating individuals who are in debt or who have disappeared. They use a range of techniques, from online searches to field investigations, to track down debtors. Using a specialist debtor tracing agency like DebtTrace can help to resolve your cases on a pay as you go basis and will resolve your cases in just 24 hours!
Social media: Believe it or not, social media can be a powerful tool for locating debtors. Many people share personal information on social media platforms, and this information can be used to help track them down. But this is not reliable and it is best left to a professional tracing service such as DebtTrace.
Of course, it's not always easy to locate a debtor, especially if they've gone to great lengths to disappear. But even in these cases, it's important to keep trying.
After all, the more money you recover, the better off your business will be.
So don't be a write off.
Take debtor tracing seriously and use every tool at your disposal to locate debtors and recover unpaid debts.
Your business will thank you for it.
And who knows, you might even find it funny once you've recovered your money and can afford to buy that joke book you've been eyeing up.
Struggling with unpaid debts? Start recovering what's owed to you today.
Resources
Get a debtors financial information