What are some of the methods collectors use to find accounts?

[Anonymous]

Do they use IRS info, public sources, etc...I'd really like to hear about how the other side works. I read somewhere that the credit bureaus are their best source, but isn't your credit report limited. For example, how would they find a bank account in your name from a credit report. If it's an old account it would not show up in your reports, and if it's a new bank account and the bank name is seen in the Inquiries section of your report, they just can't call the bank and ask them if such and such has an account there can they?

[llecs]

---

ozfar wrote:
Do they use IRS info, public sources, etc...I'd really like to hear about how the other side works. I read somewhere that the credit bureaus are their best source, but isn't your credit report limited. For example, how would they find a bank account in your name from a credit report. If it's an old account it would not show up in your reports, and if it's a new bank account and the bank name is seen in the Inquiries section of your report, they just can't call the bank and ask them if such and such has an account there can they?

---

I'm not a CA, but I do background checks on people for employment. I know that the IRS is a no-no. The rest is public. Some use Lexis Nexis, especially for skip tracing. For research, I've used court documents, all of which is public. For example, give me a name and a city and I can list for you any arrest record, traffic ticket, parking ticket, etc. Off that you can easily get a name, address, and address history.

It is also easy to get info from places like MySpace and Facebook to an extent. Google is always our friend. We don't do this, but your CRs can be pulled by a CA. Other reports can work too like Chexsystems; that will give a CA banking information. SCAN is another source of info. Also, if you ever wrote a check to the OC, and they have a copy of it, esp. if posted electronically, that OC can easily pass that info to a CA for garnishment following a judgment. Moreover, there's services out there that specialize in this stuff. I paid $25 once just to see if they can find info on me. Not only me, but my family and their names, public info, phone numbers, addresses, my cell phone number. Scary stuff.

[fishbjc]

We're just not SAFE anywhere!!!!!

I once googled a friend for poops and giggles.  Up popped a plethora of information.  Truly Scary!!!!!!

[MattH]

---

@llecs wrote:

---

@Anonymous wrote:
Do they use IRS info, public sources, etc...I'd really like to hear about how the other side works. I read somewhere that the credit bureaus are their best source, but isn't your credit report limited. For example, how would they find a bank account in your name from a credit report. If it's an old account it would not show up in your reports, and if it's a new bank account and the bank name is seen in the Inquiries section of your report, they just can't call the bank and ask them if such and such has an account there can they?

---

I'm not a CA, but I do background checks on people for employment. I know that the IRS is a no-no. The rest is public. Some use Lexis Nexis, especially for skip tracing. For research, I've used court documents, all of which is public. For example, give me a name and a city and I can list for you any arrest record, traffic ticket, parking ticket, etc. Off that you can easily get a name, address, and address history.

It is also easy to get info from places like MySpace and Facebook to an extent. Google is always our friend. We don't do this, but your CRs can be pulled by a CA. Other reports can work too like Chexsystems; that will give a CA banking information. SCAN is another source of info. Also, if you ever wrote a check to the OC, and they have a copy of it, esp. if posted electronically, that OC can easily pass that info to a CA for garnishment following a judgment. Moreover, there's services out there that specialize in this stuff. I paid $25 once just to see if they can find info on me. Not only me, but my family and their names, public info, phone numbers, addresses, my cell phone number. Scary stuff.

---

Yet another source is the Federal Election Commission website, as described in this article:

http://www.washingtonpost.com/wp-dyn/content/article/2007/06/29/AR2007062902264.html

[Anonymous]

I used to work first party collections for Sallie Mae and there are a number of tools that are used from skip tracing to credit reports. Most popular as stated before is Lexis Nexis which will show all previous addresses and phone numbers, and if known will show close relatives that you lived with when you started getting credit. Lexis Nexis will also show information such as employment(if reported to cb), all public records, property records, marriage/divorce records(only for certain states) but Lexis does not provide specific financial info. Another widely used skip tracing tool(my favorite) is axxiom a.k.a. insight. This skip tracing tool shows previous addresses and phone numbers, addresses and phone numbers for your mom/dad, brothers/sisters, husband/wife, and sometimes old roommates. This tool also shows criminal records and has a scoring system that checks the persons credit to determine how likely it is that they will make a payment on a past due account. The only way to get specific financial information is by pulling credit(don't forget, your credit report DOES show lenders info about your checking and savings accounts, just costs extra to get that info). Reports for all delinquent accounts are usually pulled at the same time early in the morning(before 6 a.m.) in the middle of the month. As a collector when you call someone your are able to instantly switch to the credit report screen and see how much money the person has in their bank accounts(this info is usually accurate on a daily basis), how much available credit they have on their cards, previous addresses and phone numbers reported to cb, current FICO score, previous employment if reported to cb, recent inquiries, basically anything you need to know to perform your job as a collector is available. The world of collections is a crazy thing and if you think putting your info on the web is a scary thing, having an account go to collections where any regular joe can see your info is even scarier.

[fused]

codeman5022 wrote:

 As a collector when you call someone your are able to instantly switch to the credit report screen and see how much money the person has in their bank accounts(this info is usually accurate on a daily basis), how much available credit they have on their cards, previous addresses and phone numbers reported to cb, current FICO score, previous employment if reported to cb, recent inquiries, basically anything you need to know to perform your job as a collector is available.

This is painful to read! I am also having trouble believing it. How can a CA legally have access to someone's personal accounts without proper consent?

[Junejer]

Fused, I am with you. I am having a very difficult time believing that MY bank, which gives me a Privacy Notice will give my account information to ANYONE without my consent. I absolutely don't believe it.

[Anonymous]

With every bank account or trade line you have, once you open that account you are basically giving that company permission to get any information about you that is available to allow them to collect on an unpaid debt if necessary. Your bank accounts DO report to your credit report but they do not count against you or for you in any way. Although, when YOU check your credit, you will not see this information on your credit report. Once a debtor hands over the account to a Collection Agency (this part most people don't know) the CA BUYS the account from the company, tacks on 15-20% of the balance and then also charges legal fees to the borrower.

ByrdMan, have you actually read your privacy notice from your bank? Most privacy notices from banks state that they will not give out your account information to any third party without expressed permission and then somewhere along the line there is a disclaimer stating that if you owe a debt to a company and they request info about your checking/savings account, they are required to provide the information. The only reason being imo is let's say you default on a loan, have no job, do not collect unemployment or ssi but you have $500 in the bank. The company that is handling the defaulted loan has the right to just take the funds out of your account like the IRS does if you have back taxes. Most of the time tho, CA's will not do this.

All in all, once open a trade line, they can get any info about you they want or need because you have already given them consent.

[Anonymous]

---

codeman5022 wrote:
The company that is handling the defaulted loan has the right to just take the funds out of your account like the IRS does if you have back taxes. Most of the time tho, CA's will not do this.

---

This is blantantly false.  Not even the IRS can take money out of your account without a court judgement. 

With false information like this I think we can see why some many CA's violate the law.

[fused]

codeman5022 wrote:

The only reason being imo is let's say you default on a loan, have no job, do not collect unemployment or ssi but you have $500 in the bank. The company that is handling the defaulted loan has the right to just take the funds out of your account like the IRS does if you have back taxes. Most of the time tho, CA's will not do this.

All in all, once open a trade line, they can get any info about you they want or need because you have already given them consent.

I might have to retract my earlier statements, my bank's privacy policy does state they will share information:

When needed to protect against fraud, or to collect unpaid debts. (verbatim)

Your statement:

- The company that is handling the defaulted loan has the right to just take the funds out of your account like the IRS does if you have back taxes. Most of the time tho, CA's will not do this. -

I do not believe this!