Debt Collection 101: Episode 3 – Skiptracing with Special Guest Eric Neal

Alex: Hey, everyone. It’s Alex and Spencer again with Debt Collection
101 on Arbeit U. Spencer: Yea we have a very special episode today Alex. Alex: Yea, we have our first
guest. Spencer: Very first guest on the history of Debt Collection
101. Alex: Yup. Spencer: We’re joined today by phone, by Eric Neal
of Neal & Associates. Eric, can you hear us? Eric: Yup, just fine, thank you. Awesome, perfect. So Eric, for anyone who doesn’t know who you
are already, why don’t you give them a quick rundown. Eric: Well, a lot of people in the industry know
me from running a collection industry. I previously ran the professional debt collectors
club and a couple of other collection clubs, collection agency group and what not. I was in the industry for about 10 years and
you know I just kind of decided to move on after a while and go into something I enjoyed
a lot more, which was. I was a good little soldier. I put in my time for a decade in the collections
arena and then enough was enough. A lot of broken promises and such, it got
tiring after awhile. It’s a good business, but I decided to move
on. Spencer: Yea, so you pivoted to skiptracing, right? Eric: I moved right into skiptracing and that is
our sole practice, that’s all we do now. Alex: I guess maybe a lot of people might not be
familiar with exactly what a skiptracing company does. So, who like retains you guys to do work for
them? Is it collection agencies or like what exactly
are you guys doing? Eric: Yea, well our primary clientele are usually
collection agencies that are litigating against the files, so it’s usually attorney’s offices,
collection agencies, maybe even collection law firms. The type of clients that are going to be needing
verified data, like places of employment and such. They can go through the litigation process
and they can go after assets, they can get a wage garnishment on the files, but they
need someone who is a step above collections because all collectors can skiptrace to a
point. They can find good numbers on people, get
location information but they are not really solely trained to get the job information. That’s, not all they do all day, so this is
what we do all day long, this is our specialty. Alex: Great, so you are a master at skiptracing
and like you said, it’s obviously a big part of a collectors day so you are the perfect
person to get advice from its sounds like. So I guess moving on to the next question. I guess for somebody who is new in to collections
or into the collections industry, what is skiptracing? Because it’s not a very, you know, the word
doesn’t describe what it is I guess. I mean it’s essentially finding people but
its a little bit more than that so what is skiptracing? Eric: You know you get two definitions from an old
school skiptracer, an old school collector could tell you perfectly what it is to them. Maybe someone in the new form of thought would
tell you something different but I’m a little of both I would say. An old school collector would say back in
the day when we didn’t have collection software, when we didn’t have anything, when we were
working off excel spreadsheets or whatever it be, it was calling, it was getting on the
phone and extracting information from people, and this was back before the FTCPA really
went into effect or at least before more agencies were really following
it but you know calling and lying to people, deceiving them, getting information from them. It was making friendly connections in other
businesses like insurance agencies and car dealerships and getting information from them. The thing is with the law changing so much
and everything, now skiptracing is a form of finding information and sometimes extracting
that information, whether it’s over the phone, or it’s online. It’s gathering information and using it for
your purposes. Alex: Ok, alright, so specifically for a debt collector,
what I guess would be your, if you could come up with three tips for a debt collector in
skiptracing, what would they be? Eric: Well, I guess it would be to, first of all,
know your file or know your files. If you’re working say, I don’t know, Colorado,
for instance, you’ve got to know, if you are just working every state, then I guess it
would be a little different. You’ve got to know your files. First of all, you’ve got to know the type
of people you are skipping down. Are you skipping down Amex files, where these
are probably going to be people that generally pay their bills and they are going to be people
that, it’s a different class of debtors I would say. Or are you skipping down a payday loan file
where if they are getting a payday loan they probably have ten thousand other collectors
calling them and then you know they are hiding themselves pretty well. Ya so you have to know the type of people
you are going after, and with that, it kind of directs on what you are going to be doing. Are you going to be be picking up the, you’ve
got to understand that if there is a file you are going to be working where there is
tons of other collectors some of which are not following the law, that have tried everything
in the book, you’ve got to know a lot of it is time management. You’ve got to know how long to spend on your
file and how long to skip it because you’re going to be skiptracing a file and you can
find a lead and it’ll always be over that next hill but then there will be another hill
and another one. A big part of skiptracing is time management. Alex: Ok. Eric: You have really got to know when to stop and
how far to go. So I guess my first tip would be time management,
my second tip, more on the lines of skiptracing would be, check out professional licenses. You want to check out, like we do a lot of
Colorado files, for instance, the first thing we do when we get the file before we do anything
else is we highlight all the professional licenses available. You can check this out by going to Colorado
Professional License search. We just highlight everything, we type in the
persons name, maybe the person and their aka name and we look for a professional license. Alex: Ok. Eric: If it’s anything like a CNA or something in
the nursing field or wherever, generally their profile will tell us exactly where they are
working down to last week, so there is a lot of states you can do this with but you want
to check out their professional licenses because you can basically want to take the easiest
route possible to find out, and it goes back to time management but you want to find the
easiest route possible to find out if you can find their place of employment if that’s
your goal, if that’s what you are looking for. Spencer: So number one, time management, number two
was licensing and number three? Eric: Number three, I would say learn how to search
on Google. Spencer: Really? Eric: Ya, I see a lot of people, a lot of people,
people I hire or people just from our clientele that put a name and put a state in google,
or just put a name in google and they get 3 million results. One of the things I teach my associates is
how to specifically search in Google. That’s a good way to do it, there are lots
of ways, and it would take a lot longer than the segment would last. Spencer: Yeah. Eric: To go over all the ways but you can Google,
you can actually go to Google and Google power techniques or power searching or whatever
and learn all the methods or this and that on how to do it appropriately but what I like
to do is I like to go to Google and I like to put the first and last name in quotes and
then outside the quotes I’ll put the city or if I have a general place that I think
they are working or their type of work I might put nursing or whatever but I’ll put the city
or the state and that can really direct you to the right LinkedIn for example or to the
right whatever. So I would say learn Google techniques. I do want to add another general technique
with that, the one with professional licenses. Alex: The more the merrier Eric: Is to search for online resumes, and a great
resume site to search on is That one, the reason I really like that over
the other sites too. Spencer: Thats a great tip. Eric: Is that it tells you when the person last
updated their resume. So you can see how recent that information
actually is. Spencer: Ya, that’s a really good tip actually. Alex: Ya. Spencer: Ya if you are trying to hunt someone down,
find their resume. Eric: Ya anything you find online I mean you’ve
got to understand people do unstraight things, people lie, I mean we search Facebook, we
search Indeed, professional licenses, but none of this is an actual verification. Spencer: Ya, you want to hear my fifth skiptracing
tip? Eric: Ya absolutely. Spencer: Contact a skiptracer. Eric: Ya. Spencer: So if anyone watching is interested in a skiptracer,
contact us, we will get Eric Neals information. Alex: Ya we will put his website in the link below. Spencer: Perfect. Alex: So ya Eric I appreciate it, that was great
information, that was wonderful. Everyones going to I’m sure benefit from that
and where better to get the information from than someone who owns a skiptracing company
and does this for a living, so it’s great. Spencer: Ya, awesome, well thanks for coming on and
thank you everybody for keeping up with us. Alex: Ya if you liked what you saw please subscribe
below, check us out next week. Thursday at noon. Thanks so much. Spencer: See ya next week, thanks everybody

One comment on “Debt Collection 101: Episode 3 – Skiptracing with Special Guest Eric Neal”

  1. Scarlet Hartwell says:

    totally annoying music playing in the background that completes with the phone call that doesn't have any base tone to make it easily audible.

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