The question is how that information can be sourced in a timely and cost-effective manner.<\/p>\n\n\n\n
Public Data is a Rich Resource<\/h3>\n\n\n\n
There is a well-established handful of data providers serving the skip tracing industry with personal data, usually gleaned from the vendor\u2019s partnerships within the financial sector. Those remain a powerful resource, but within the past several years the rise of open-source intelligence (OSINT) has opened up a new avenue for skip tracing.<\/p>\n\n\n\n
OSINT<\/a>, simply stated, consists of information about private individuals that\u2019s available through public sources. It is a rich resource for skip tracers, and sometimes even a simple Google search can turn up useful leads.\u00a0 Social media intelligence (SOCINT) represents an especially valuable subset of OSINT: diligent social media research<\/a> can often turn up information about the debtor, or about family members or other associates who may in turn enable a successful skip trace.<\/p>\n\n\n\n Government websites are another powerful OSINT tool, with a surprising amount of information available at every level from counties and municipalities to state and federal agencies. Not all of it is searchable or easily accessible, and some \u2013 especially at the county and municipal level \u2013 may still require an old-school in-person search, but the information is there.<\/p>\n\n\n\n Data procured from traditional, credit bureau-derived sources is regulated by law, because of how the information is collected and its inclusion of such personally identifiable information as birth dates and SSNs. Integrating both regulated and open-source data holds tremendous promise for skip tracing, but can be logistically challenging and poses potential compliance issues.<\/p>\n\n\n\n Consumer behavior continues to change: it has become progressively easier for debtors to avoid contact with creditors, through tactics such as relying on hard-to-track gig work and off-the-books cash jobs for income.\u00a0 By using a broader set of data \u2013 both public and regulated \u2013 from new and emerging sources, you will have a better chance of picking up signals that will lead to debtor engagement.\u00a0 Spokeo for Business provides that capability, drawing on both regulated and open-source data within a single unified platform with a simple, intuitive interface.<\/p>\n\n\n\n The advanced people search tools<\/a> available through Spokeo for Business can speed your research dramatically by aggregating and sifting this data for you, presenting you with actionable intelligence in just seconds. Among other powerful advantages, Spokeo for Business:<\/p>\n\n\n\n Let\u2019s look at how you can leverage its power in the real world.<\/p>\n\n\n\n New technology often feels like \u201ca solution looking for a problem,\u201d but skip tracing comes ready-furnished with plenty of problems that can be addressed with Spokeo for Business.\u00a0 This holds true whether skip tracing is your primary business, or a subset of your duties in another industry.<\/p>\n\n\n\n Many skips are among the country\u2019s lowest earners; those who can\u2019t access the mainstream credit-reporting system and may not use formal banking services.\u00a0 Instead their business goes to non-bank lenders, rent-to-own operators, and similar enterprises.\u00a0 In 2021 the FDIC reported that 4.5 percent of the country\u2019s households were unbanked<\/a> and another 14 percent were underbanked, meaning almost 1 in 5 fall into this hard-to-trace category.<\/p>\n\n\n\n Spokeo\u2019s profiles pull from billions of sources other than financial reporting data, especially social media activity, giving a clearer picture of their lives, locations and connections than you could gain from more-traditional data services.\u00a0 This may also be the most effective path to locating debtors who rely on gig work or cash jobs for their income.<\/p>\n\n\n\n A really difficult skip may not have a permanent home address, or may deliberately keep moving to avoid detection, but a detailed look at their social media presence can yield useful insights.\u00a0 They may own a highly recognizable vehicle, or their photos and posts on social media might contain details that betray their location, or help you recognize which of their contacts they\u2019re staying with.<\/p>\n\n\n\n You could theoretically do this manually, but it\u2019s slower and less comprehensive.\u00a0 Spokeo began as a social media aggregator and still offers one of the most complete social searches available, including platforms you might not have considered.\u00a0 Often you may need to follow up with old-fashioned surveillance in order to make a positive identification, but it puts you in the right spot.<\/p>\n\n\n\n Skip tracing in small numbers (\u201cretail,\u201d if you will) is much different from tracing in volume. Tracing skips in \u201cwholesale\u201d quantities is called batch skip tracing, and it requires a tool robust enough to find data on as many skips as your clients forward to you or as many as your team is capable of processing.<\/p>\n\n\n\n Some data vendors will charge you by the number of searches in your batch, so if you get only 700 \u201chits\u201d from each 1000 of searches, you\u2019ll still pay for the full thousand.\u00a0 Others charge you only for successful \u201chits,\u201d which is more cost-effective but makes budgeting more difficult to project.\u00a0 Spokeo\u2019s robust APIs make it possible for you to do those searches on a subscription basis, keeping costs predictable and manageable. Batch processing through the API is currently available only for open-source data, but work is in progress to extend that capability to regulated data soon.<\/p>\n\n\n\n Finding the skip isn\u2019t the end of the process, just a means to that end.\u00a0 The actual result may involve negotiating the payment of a debt, the serving of legal papers, or some other outcome that involves interacting with the skip.\u00a0 Those who work purely as skip tracers won\u2019t necessarily have to do this, but those who skip trace as part of their job duties in other fields \u2013 the law or debt collection, for example \u2013 may also need to bring things to a conclusion.<\/p>\n\n\n\n The FDCPA<\/a> and other statutes prohibit the use of strong-arm tactics, and in truth they\u2019re often a poor choice anyway.\u00a0 The so-called \u201csoft skills\u201d needed to build empathy and rapport with a skip will often get better results. Spokeo\u2019s profiles give the tracer plenty of scope for learning who the skip is as an individual, and which of their interests can be used to establish common ground.\u00a0 It may not be decisive, but it\u2019s helpful.<\/p>\n\n\n\n Whether skip tracing is your primary business or just a tool you need in your primary business, managing that activity effectively is important.\u00a0 Spokeo for Business has a powerful dashboard that streamlines those administrative chores, reducing the reporting overhead for everyone on your team.\u00a0 From the dashboard you can add and remove team members, monitor their searches, view search history, and see saved search results, all in one easy-to-use interface.<\/p>\n\n\n\n Every data-search tool sounds good in theory, but in practice may not prove useful in your specific circumstances.\u00a0 The interface may prove clunky, the data unreliable, or key information may simply not be there.<\/p>\n\n\n\n Spokeo for Business is an outlier in its ability to aggregate open-source intelligence, regulated and sensitive data, and especially social media data through a simple, intuitive interface; and to deliver this combination of ease and power cost-effectively.\u00a0 The best way to evaluate its ability to complement or replace your existing tools is by trying it hands-on, through a free 10-day trial.<\/p>\n\n\n\n To arrange a trial or a demonstration of the product, by telephone at (888) 895-5122, or use the Contact form at the bottom of this page<\/a>.<\/p>\n\n\n\n About Tom Brown<\/em><\/em><\/p>\n\n\n\n With a career spanning three decades, Thomas C. Brown stands at the intersection of the risk information, FinTech, and RegTech landscapes, specializing in identity centric solutions, including those benefiting collections, investigations, and financial services. Throughout his career, he has covered the entire spectrum of the collections industry, from hands-on collections to providing innovative software, data, analytics, and skip tracing solutions. At Spokeo, he leverages deep industry insights to deliver data-driven solutions, empowering professionals in collections and financial services with unique access to actionable intelligence.<\/p>\n\n\n\n Sources<\/p>\n\n\n\n ISACA: Categorizing and Handling Sensitive Data<\/a><\/p>\n\n\n\n US Federal Deposit Insurance Corporation (FDIC): 2021 FDIC National Survey of Unbanked and Underbanked Households<\/a><\/p>\n\n\n\nAdvanced People Search for Regulated Skip Tracing<\/h3>\n\n\n\n
\n
![\"\"](\"https:\/\/www.spokeo.com\/pathfinder\/wp-content\/uploads\/2024\/04\/pexels-olly-927022-1024x683.jpg\")
<\/figure>\n\n\n\nUsing Spokeo for Business in Skip Tracing<\/h3>\n\n\n\n
Locating the Unbanked and Under-Banked<\/h4>\n\n\n\n
Identifying and Locating Skips Through Surroundings and Possessions<\/h4>\n\n\n\n
Cost-Effective Batch Skip Tracing<\/h4>\n\n\n\n
Negotiating With the Skip<\/h4>\n\n\n\n
Managing Your Team<\/h4>\n\n\n\n
Give It a Real-World Test<\/h3>\n\n\n\n