How Do Debt Collectors Find You?

How exactly is it that a debt collector can find me? Does anyone know how they track my information down? And, can they actually come to my home to try and collect the debt in person?

Typically creditors and collectors will get your personal information by pulling a credit report, which they reserve the right to do. On your credit report, it will have your name, current address, telephone number and usually your current place of employment.

Yes that is correct Ted. Also, you should be aware that they may try calling your relatives if they have any of their phone numbers to try and track you down. I was in a situation years ago where my sister was getting a lot of calls from this collection agency because they didn't have my phone number and I owed a little bit of money for a credit card.

They were pretty nasty with her so I would try and avoid that situation if you can.

A debt collector cannot come to your home to try and get you to cough up the money face to face. If anyone were to come to your home in regards to debt, it would be a sherriff to serve you with a summons if one of your creditors filed a lawsuit against you for not paying.

Now you've scared me.

Do creditors sue people a lot? I really don't need that.

Creditors would prefer not to pursue legal action to try and collect on an unsecured debt. It can take a lot of time for the legal process to unfold and it costs the creditor money since they have to hire a law firm to represent them in a court of law if it gets that far.

If you are willing to make payments towards your debts you can avoid a lawsuit. If you haven't reached out to your creditors I would recommend doing so. If the accounts are with collection agencies and you are behind on payments you may want to consider settling your debts if you have some money in a savings account or elsewhere.

One other thing- if it is in collections, be careful if you set up a payment plan. If you have missed payments ever it is likely that the creditors are now charging default interest on the accounts, which can be as high as 30%. If you start making small monthly payments towards the debt, you may be paying interest only.

Good luck.

Yeah I wouldn't be too concerned about a lawsuit. If the account gets placed with an attorney who is licensed in your state, then I would act fast as that would suggest the creditor may in fact take the legal path to collect the debt!

Now here's my question:  how do they find out who your relatives are?  You said they get personal information off your credit report, but it's not like your family tree is on there.  I just had a collector from NCO call my uncle.  I haven't seen my uncle in about three years!

 

To answer your question, pasaway, debt collection agencies have "skiptracing" departments, and they work like private investigators by acquiring information on your whereabouts. They can also ask your neighbors and current and past employers on any information about you. They can also hire the services of investigative reporting agencies that gather information about you, which may provide detailed and exhaustive information about you for various purposes, including identity authentication and debt collection.

How do you get rid of debt collectors when they find you?